Hi All,
This is a long time coming, Ive been an active member on this site since 2011 and have given lots of advice to folks around here... I figured I shouldnt hide my profile. Let me know what you think.
I am a 29 year old military officer living in a very high cost of living local and am engaged to a wonderful if not so frugal lady who is 30. My goal is to retire from the military in 12ish years and never work again. Luckily there are several huge factors that will most likely allow this to be possible.
Take home salary is $7800 and I get $300 a month from a car loan that i extended to a family member.
Budget: We are pretty different when it comes to saving money, my SO has always made so much money she never really had to think about budgeting, but my philosophy is that at least over budget for things, and shave off the top when we underspend.
Averages
Rent- $2500 per month We've decided that for the time being we are going to be renters. I am in favor of taking the plunge but seeing that we move every few years Im on board for now.
Utilities - 150
Health Care 0
Gas- 300
Cable- 50
Internet- 40
Car/Renters/Life insurance- 200 (Life insurance is to augment SGLI, locking in my rates w/ USAA, $12)
Phones- 150
Gifts- 100
Dinning- 600
Allowances 100
Groceries- 300
Travel- 400
Miscellaneous- 200
Furniture/household- 200
Car care 100
Savings 2700
Savings Break down
TSP (9%) 500
Roth 458
Lending Club 300
Vanguard 1000
Cash 442
Debts- ZERO
Assets
Cars x3 (I own the loaned one)
Roth 24,000
TSP 9,200
Taxable investment - 41,000
Cash Savings 20,500
Cash Savings 5300
Cash Checking 13,700
Cash Cash 1100 (yes i keep cash on hand)
Lending Club 10500 (22% after 11 months)
Total 125300 Not counting the cars. I am currently heavy on cash as the market is overvalued and am still contributing over 15% of my take home pay to the market. I will reevaluate after QE ends and the market stabilizes.
I am counting on having my pension but you honestly never know these days if the govt can keep their promises. That being said I feel Im on the right track and these numbers dont include my SOs net worth of over $500,000... I dont consider that my money and its wrapped up mostly in investment properties in a different country. The SO also volunteers full time for a very rewarding charity. She worked for so long in a high stress environment, that Im completely supportive of her efforts. And if needed she could go back to the grind and make way more then i do. Even though she dedicates a lot of time to the charity, she still feels like shes retired!
We want to have a few kids and travel more once we're in real retirement. Ive told her Im not paying for my kids college haha. I bet she'll make me haha.
Thats about it. Now lay it on me!