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spaceman last won the day on December 23 2017

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About spaceman

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  1. Flying Videos Thread Part 2?

    That guy's Facebook page says he's self employed and single. I'm shocked!!
  2. Blended Retirement System Puzzle

    Thanks for the insight guys. I guess it does make more sense to stick with the traditional system. Hoss, that's a good point about health insurance. I worked as an engineer for a couple years out of college and I think I was paying like 10 or 15% of my salary just to cover myself. Free tricare when I went AD was/is a big plus!
  3. Blended Retirement System Puzzle

    Oh yeah, good point. I guess I kinda assumed I remembered how the reserve retirement works, so I read up on it and you're absolutely right. I have like 700ish points from my reserve time, so if I stick around until I have 20 total years I think I'd have something like 6000 points. Thanks for that excel tool, this is way more useful than the calculators I was trying to use on USAA and Vanguard. I gave it an initial wag and it doesn't really look like that extra 5% into my TSP is going to make as much of a difference as I thought since it'll only be 8 years of contributions and then stop. I guess if I didn't have my prior service years it might make a little more sense... As far as my career plan, I REALLY doubt I'll stay AD for 20 years, so I think shooting for the reserve retirement one way or another is a decent goal since it'll barely take me past my ADSC anyway. That way I'll at least get some benefit from my dorky army reserve time besides mostly free college. In a really perfect scenario I'll just get a sick airline job right away that'll pay so much that my AF retirement becomes trivial, but that's like a whole other thing
  4. Happy New Year gents! I have been trying to figure out for the past month whether I should opt in to the new retirement system or not. I have a sort of nonstandard situation, which I'll explain, so finance at my base has no fricking clue and I haven't found anyone in the same boat as me to compare notes with. I know many of you guys are financially way smarter than I am so maybe you can help me figure this out. OK here's what I'm working with. I'm an O-3 commissioned in June 2013, but I was enlisted in the Army reserve for several years before that. My reserve time got me 7 good years towards a reserve retirement, and a few hundred AD days. So, according to my SURF at least, my total active service date is August 2012. My ADSC is up in September 2024. I'm 31 right now. So based on that, my options that I see are: 1. GTFO when my ADSC is up in 2024 (age 37). 2. Stick around for 20 AD years until 2032 (age 45). 3. Hang out until I have 13 AD years, add that to my 7 reserve years, get out and take the reserve retirement in 2025 (age 38). Or switch to the guard at any time and accumulate some combination of at least 20 AD and guard/reserve years. #1 and #2 are pretty obvious whether I should switch to the BRS or not. #3 however seems like a reasonable compromise though since I wouldn't have to do a whole lot more to gain at least some kind of retirement. I feel very unlikely to stick around active duty for 20 years anyway. Now, correct me if I'm wrong, but the guard/reserve retirement is similar to the AD version where you get 50% of your high-3 base pay (or 40% with the BRS), with the difference being from the reserves you don't get paid anything until you turn 60. I also don't know much details about how I'd go about getting a reserve retirement straight from active duty; most people do some AD time first then switch to the guard and I'd be doing the opposite. I might try to go to the guard anyway when my ADSC is up so it's probably not a huge deal. My point is I think I can at least get myself a guard/reserve retirement out of this thing. Alright so anyway, I feel like scenario #3 is what I'm going to end up with. I'm already putting 10% of my base pay into my Roth TSP, so if I switch to the BRS I'll get an extra 5% for free, which will continue from 2018 until at least late 2025 when I get out (so ~8 years of contributions). Then after I get out it'll just sit there and grow until I become old. When I turn 60 I'll start getting my little reserve pension which will be 40% of my old base pay. Alternately, I don't swap to the BRS but do everything else the same. Then I'll get 50% of my old pay starting at age 60, but I will not have gotten those 8 years worth of extra 5% TSP contributions plus their associated gains over the last ~22 years. How can I estimate which will be worth more to me in the future? I can't quite get the BRS calculator (http://militarypay.defense.gov/Calculators/BRS/) to match my situation, and my attempts to use other generic IRA calculators has left me more confused than when I started. Any ideas? Thank you for reading this diatribe if you made it this far!
  5. New BAH rates are out.

    Yeah but you get an extra $250 a month for family separation so that totally makes up for it. I say this as I'm about to say bye to my two month old kid to do a nice non flying six monther... I can't wait to spend that extra $1500 of FSP! Where's my fvckin eye rolling emoji?!
  6. Latest Movies

    Good talk guys. Sicario didn't really seem to need a sequel, but the new one does look cool!
  7. NFL Ratings are Way Down

    Know Your Rights!!!
  8. Well no shit dude FY 17 is in four days
  9. Best chances for fighters.. AD or Reserves?

    Dude why stop at WIC?! Just proficiency advance your entire career and you could be a civilian again in just a few short months with almost no effort required! Sent from my SM-G935V using Tapatalk
  10. You guys make some good points. Thanks for all the great info! Wife and I are feeling a lot more optimistic now that we have an actual plan coming together!
  11. Thanks for the replies gents! The student loans are actually a few loans within one account (subsidized/unsubsidized, etc.), so roughly a third of it is at 4% and the other two thirds 5.88%. Sent from my SM-G935V using Tapatalk
  12. Dudes, awesome thread! I'm deployed and using my spare time to finally get a grip on my finances, so I have been researching and finally finished reading this whole thread. I'm about to turn 30 and so far have been pretty irresponsible as far as investing/saving for retirement... I probably should've started taking it seriously 6-9 years ago but I guess no time like the present. Anyway I have a couple of questions but first some background: Wife and I are both 29, I'm a pilot (O-2 with maxed out TIS) and she's a teacher; our total income is ~$100k (no kids yet) We own two houses, one we live in and one rental property back home that we pretty much break even on Both cars are paid for, but wife has ~$30k in student loans that I'm now focusing on paying off I have a 401k from my old job worth about $23k sitting in a Wells Fargo account that I haven't really touched in 3.5 years So far during this deployment I've pumped up our savings account from $10k to almost $25k, so I have a decent pile of money to do something constructive with. We've also built ourselves a pretty detailed budget that I think we can actually follow, which leaves us $3-3.5k per month for investing/paying off debt. So far my rough plan is to open a Roth IRA somewhere (Vanguard probably) and max it out for 2016, with some combination of the cash that I have plus monthly contributions between now and the end of the year. (Then continue maxing it out each year by monthly contributions) Next I'll focus on paying off the student loans as quick as possible. Then I'll invest whatever's left in some other account (Roth TSP maybe?). Once the loan is paid off I intend to invest at least 15-20% of our income total. Anyhow, my questions are: 1. Does this plan make any sense? I know I should pay off the student loans ASAP, but I feel like I have some catching up to do retirement savings wise, so maybe it would be worth it to at least max out a Roth IRA for the year and then put more towards the loan after that. 2. Is there a rule of thumb or method for deciding if it's worth it to convert a 401k into a Roth IRA? I know I'd have to pay taxes on the $23k I have to convert, but with my deployment I don't think my taxable income will ever be much lower than it'll be this year. 2b. Traditional to Roth rollovers don't count towards your annual Roth contribution limit, right? So I could roll over my whole $23k plus put in another $11k to max out mine and my wife's contribution for this year, if I understand the rules correctly. Thanks guys for all this info; this has been one of the most educational BODN threads ever! ETA: I realize I'm asking for financial tips from a bunch of pilots but many of you guys are obviously way smarter on this stuff than I am so I'll take any free advice I can get
  13. Mustache March

  14. C130J (Herc) info

    The carbon brakes are already out there... Temperature monitoring would be awesome though.
  15. Info on flight boots

    New Balance OTB is also really light. Similar to the Nike ones but my feet agreed with the NB's better.