Jughead Posted January 11, 2014 Share Posted January 11, 2014 If you want to S some D under a bridge on month 5 after a RIF, have at it. Nah, my money's on Dukeorions--he wouldn't have to wait 5 months.... Link to comment Share on other sites More sharing options...
brabus Posted January 11, 2014 Share Posted January 11, 2014 If you want to S some D under a bridge on month 5 after a RIF, have at it. Remember Duke, if they have to ask, they can't afford it. Link to comment Share on other sites More sharing options...
Dukeorions Posted January 13, 2014 Share Posted January 13, 2014 Haha, you're damn right brabus. Thanks for the input fellas, sts. Link to comment Share on other sites More sharing options...
Insubordinate & Churlish Posted January 14, 2014 Share Posted January 14, 2014 Already maxing my Vanguard Roth. I guess the question now is do I try and max my TSP or do I try and do better with something a little more self-directed? Question about your order of investment: does TSP match your contributions? If so, why don't you at least maximize your match from TSP before moving on to the Vanguard Roth? Not calling you out, I'm just curious. Link to comment Share on other sites More sharing options...
ThreeHoler Posted January 14, 2014 Share Posted January 14, 2014 Question about your order of investment: does TSP match your contributions? If so, why don't you at least maximize your match from TSP before moving on to the Vanguard Roth? Not calling you out, I'm just curious. Because the TSP doesn't have matching contributions for military, however, they are authorized if the Services wish to enact them. Link to comment Share on other sites More sharing options...
pcola Posted January 14, 2014 Share Posted January 14, 2014 I'm an active duty major, and I've passed all three levels of the CFA exam, and will be eligible for the CFA designation next month. That's badass. Did you take all 3 levels while AD? How long have you been working towards the CFA, and how many times did you fail each level before passing? What is your educational background, if you don't mind divulging. Link to comment Share on other sites More sharing options...
flyjetz Posted January 14, 2014 Share Posted January 14, 2014 I'm an active duty major, and I've passed all three levels of the CFA exam, and will be eligible for the CFA designation next month. I own a Registered Investment Advisory firm. I'm currently deployed, so I am not taking on any new clients until I return (June or July). I typically don't offer financial planning (that's more for the CFP types), but if you need help with portfolio management, feel free to PM me, and I'll send you my info. That's badass. Did you take all 3 levels while AD? How long have you been working towards the CFA, and how many times did you fail each level before passing? What is your educational background, if you don't mind divulging. Yes. My first test was in December 2010, which I passed. I had to take Level 2 twice (Summer 2011 and Summer 2012). Then passed Level 3 Summer of 2013. Probably the most difficult thing I've ever done educationally. Believe it or not, my educational background is not in finance. (USAFA Human Factors type.) Back in 2010, I wasn't sure I believed the hype behind the airlines hiring, so I set out to gain a second skill set in something that interested me. I'll be retiring in about a year, and still hoping for an airline job, but know I've got other options if that doesn't pan out for some reason. 1 Link to comment Share on other sites More sharing options...
Swizzle Posted January 15, 2014 Author Share Posted January 15, 2014 Investing in yourself, hope many others are doing that before this RIF... Flyjetz, Did TA pay for your certification tests? Link to comment Share on other sites More sharing options...
Disregard Posted January 15, 2014 Share Posted January 15, 2014 (edited) Retired USAF Col (with 3 graduate degrees) homeless After a 30-year military career in which he earned three graduate degrees, rose to the rank of colonel, and served as an aide to Pentagon brass, Robert Freniere can guess what people might say when they learn he's unemployed and lives out of his van: Why doesn't this guy get a job as a janitor? Out-of-work colonel grateful for outpouring Retired Air Force Col. Robert Freniere says he is considering dozens of offers for housing and jobs after an outpouring of responses from Inquirer readers who learned of his story of unemployment and homelessness last Sunday. ... But it hasn't been all positive. Freniere said he has seen in online comments that some readers, including veterans, questioned his living situation and annual pension of more than $40,000, thinking the amount should be higher for a colonel. Freniere said he wanted to clarify that the money is compensation only for injuries he sustained while on active duty. He said he doesn't know whether he will receive more retirement pay when he turns 60, as most veterans do. Veterans groups have offered to help him find out. Edited January 15, 2014 by Disregard Link to comment Share on other sites More sharing options...
flyjetz Posted January 16, 2014 Share Posted January 16, 2014 Investing in yourself, hope many others are doing that before this RIF... Flyjetz, Did TA pay for your certification tests? No. I called the TA shop on base and they said it wasn't a certification. If it were CFP (CERTIFIED Financial Planner) or CPA (CERTIFIED Public Accountant) it would qualify, but CFA (CHARTERED Financial Analyst) was not considered a certification. Wanted to call BS, but what do you? On the flip side, I used the income from the Registered Investment Advisory Firm that I opened to pay for the certification and marked it as a business expense, so I really wasn't out any money. Link to comment Share on other sites More sharing options...
MilitaryToFinance Posted January 16, 2014 Share Posted January 16, 2014 No. I called the TA shop on base and they said it wasn't a certification. If it were CFP (CERTIFIED Financial Planner) or CPA (CERTIFIED Public Accountant) it would qualify, but CFA (CHARTERED Financial Analyst) was not considered a certification. Wanted to call BS, but what do you? On the flip side, I used the income from the Registered Investment Advisory Firm that I opened to pay for the certification and marked it as a business expense, so I really wasn't out any money. I tried the same thing when I separated because they will pay for certifications needed to transition to a new career. However CFA was not one they would pay for. I tried to convince them but never succeeded. Link to comment Share on other sites More sharing options...
JS Posted January 17, 2014 Share Posted January 17, 2014 No. I called the TA shop on base and they said it wasn't a certification. If it were CFP (CERTIFIED Financial Planner) or CPA (CERTIFIED Public Accountant) it would qualify, but CFA (CHARTERED Financial Analyst) was not considered a certification. Wanted to call BS, but what do you? On the flip side, I used the income from the Registered Investment Advisory Firm that I opened to pay for the certification and marked it as a business expense, so I really wasn't out any money. You need 4 years of financial experience in order to actually get the CFA designation, correct? So you are basically just knocking out the test in case you go into the field? How long are the tests good for if you don't work in the field and get the CFA designation? Link to comment Share on other sites More sharing options...
HU&W Posted January 17, 2014 Share Posted January 17, 2014 No. I called the TA shop on base and they said it wasn't a certification. If it were CFP (CERTIFIED Financial Planner) or CPA (CERTIFIED Public Accountant) it would qualify, but CFA (CHARTERED Financial Analyst) was not considered a certification. Wanted to call BS, but what do you? On the flip side, I used the income from the Registered Investment Advisory Firm that I opened to pay for the certification and marked it as a business expense, so I really wasn't out any money. Why did you choose CFA over CFP? Having been down the path, what are your thoughts on Chartered Financial Consultant (ChFC)? I ask because I've been considering a similar path. Link to comment Share on other sites More sharing options...
Warrior Posted January 18, 2014 Share Posted January 18, 2014 Why did you choose CFA over CFP? Having been down the path, what are your thoughts on Chartered Financial Consultant (ChFC)? I ask because I've been considering a similar path.I've kicked the same idea around. Now that my masters is done, I thought I'd look into something that I'm actually interested in. Link to comment Share on other sites More sharing options...
MilitaryToFinance Posted January 18, 2014 Share Posted January 18, 2014 Why did you choose CFA over CFP? Having been down the path, what are your thoughts on Chartered Financial Consultant (ChFC)? I ask because I've been considering a similar path. Take this for what it's worth but I've seen lots of people with CFA and CFP designations in the industry. I don't remember ever seeing anybody with ChFC and in fact have never even heard of it before. I would stick with one of the two but they are very different. CFP is for financial planning, this is helping people plan for retirement, balance their portfolios, save for kid's college, etc. The CFA is truly a financial analyst designation, this is what people working at mutual funds will get, people who want to understand equity research, corporate finance and valuations. What is your goal and why do you think you want one of these designations? Link to comment Share on other sites More sharing options...
flyjetz Posted January 18, 2014 Share Posted January 18, 2014 You need 4 years of financial experience in order to actually get the CFA designation, correct? So you are basically just knocking out the test in case you go into the field? How long are the tests good for if you don't work in the field and get the CFA designation? Yes you do need 4 years of financial experience. It's supposed to be 4 years, full time experience. As of 1 Feb, I will have owned my RIA business for exactly four years. With the tests passed, and the four years of experience, I plan to apply. I'm not sure if I pass the full time test since I'm also on active duty. However, I do put a crap load of time into the job. If I'm denied, I can at least walk into any financial firm and say "If you hire me, you'll have a CFA in four years". There is no expiration on the tests. They are good for life. Why did you choose CFA over CFP? Having been down the path, what are your thoughts on Chartered Financial Consultant (ChFC)? I ask because I've been considering a similar path. CFP is definitely more known to the average person. 9 times out of 10 when I told people I was studying for the CFA, they had to ask what that was. But within the financial industry it is well known. It is considered the doctorate level of investing. Nearly all hedge funds are either headed by CFAs or have several CFAs working for them. I chose CFA over CFP because it was more challenging, and it suited my interests more. No offense to the bottom 33% of society, but I didn't want to be building budgets for people with zero financial skills and call it a career for the rest of my life. 2 Link to comment Share on other sites More sharing options...
GearMonkey Posted January 29, 2014 Share Posted January 29, 2014 Anyone have experience with the 50K+ TSP contribution in CZTE locations? Lump sum or monthly contribution? Limited by actual time in theater (i.e. can't go 50 if you aren't there long enough to earn it)? Can I go all Roth or do I have to go Traditional above $17.5? Does Finance have a clue? Link to comment Share on other sites More sharing options...
ThreeHoler Posted January 29, 2014 Share Posted January 29, 2014 (edited) You can only put $17.5K into the Roth TSP. Anything above ($51K max) must be Traditional.You are limited by your total pay (Base, Fly, BAH, BAS, etc) minus requirements (SS, Medicare, etc) per month for contribution to TSP (Base pay election cannot exceed 92%). You cannot lump sum deposit (i.e. write a check like the SDP). Edited January 29, 2014 by ThreeHoler Link to comment Share on other sites More sharing options...
Jughead Posted January 30, 2014 Share Posted January 30, 2014 (edited) Does Finance have a clue?ThreeHoler neglected to answer this one (perhaps feeling it was self-evident): NO. Otherwise, what he said. I'll add that your first month of CZTE entitlement will likely result in under-contributing to your TSP insofar as the tax exempt portion is concerned; couple that with the answer to your question on Finance's clue level, and you'll have to open a case file with DFAS to get it un-fucked (ask me how I know*...). Another consideration is that your deferred (i.e., "normal") contributions are taken "first," from whatever portion of your pay is not tax exempt (if you're an officer, typically applies at O4 / 14-ish years on flight pay), then the tax exempt, up to your chosen percentages. As a result, you could end up limiting your deferred contributions (probably not what you want) if your exempt contributions exceed $33.5K ($51K - $17.5K). If you're planning on truly maxing it out, you need to carefully calculate your contributions to keep the two categories in balance. ETA: *ThreeHoler is correct about not being able to make lump-sum contributions, but if you find yourself in this situation, it's the one case where you CAN "write a check" to cover the contributions that should have been withheld (so don't spend it!!). Edited January 30, 2014 by Jughead Link to comment Share on other sites More sharing options...
HeyWatchThis Posted January 30, 2014 Share Posted January 30, 2014 Flyjetz do you have any good resources to start reading up on getting a CFA/CFP, etc. I've been tossing the idea back and forth for some time now since I completed my MBA and most sources I have seen are trying to sell me their particular program vs comparing each program unbiased. Link to comment Share on other sites More sharing options...
flyjetz Posted February 1, 2014 Share Posted February 1, 2014 Flyjetz do you have any good resources to start reading up on getting a CFA/CFP, etc. I've been tossing the idea back and forth for some time now since I completed my MBA and most sources I have seen are trying to sell me their particular program vs comparing each program unbiased. I can't provide you much in the way of CFP. You can get a great deal of info on the CFA from analystforum dot com CFP is definitely the easier path. I would choose based on what interests you more. If you want to learn more about investing than you will ever find off of some bookshelf at Barnes and Noble, then sign up for the CFA. But be prepared for one of the most arduous academic journey you've ever faced. It's difficult because you only have one chance per year to pass a test that you've studied for the last 12 months for. When you fail a test (which you most likely will), it is one of the most demotivating experiences you will ever face. 12 months of hard study all for nothing. But picking yourself back up and forcing yourself to do it again and then passing and moving on to the next level is very rewarding. Pass rates for each level of the CFA test are approximately: Level I: 40% Level II: 43% Levell III: 49% Think about it. Of the 40% of the folks who pass Level I, only 43% of them will pass Level II. Of that even smaller subset, only 49% will pass Level III. These percentages include people who have already taken that level multiple times. You are competing against some of the best minds in finance. This is not an easy path. That is why it is so highly respected within the industry. I failed Level II on my first take. It is probably the most difficult level. I knew people taking Level II for the 5th or 6th time. Some people chase this goal for a decade or more. So before you pull the trigger on that path, make sure you have the time, the desire, and probably most importantly, the support from your home base. You will need to put in about 250-300 hours of study to pass each level. ...and by home base, I mean your family, not your duty station! Link to comment Share on other sites More sharing options...
pcola Posted February 5, 2014 Share Posted February 5, 2014 Think about it. Of the 40% of the folks who pass Level I, only 43% of them will pass Level II. Of that even smaller subset, only 49% will pass Level III. These percentages include people who have already taken that level multiple times. You are competing against some of the best minds in finance. This is not an easy path. That is why it is so highly respected within the industry. I failed Level II on my first take. It is probably the most difficult level. I knew people taking Level II for the 5th or 6th time. Some people chase this goal for a decade or more. So before you pull the trigger on that path, make sure you have the time, the desire, and probably most importantly, the support from your home base. You will need to put in about 250-300 hours of study to pass each level. True. My stepdad is a CIO of a major state pension plan and has been in the industry for >30 years. He finally finished his CFA about 8ish years ago, and failed level II multiple times along the way. He is certainly no dummy - the CFA is one legit certification. Which is why I was impressed that flyjetz did it in his spare time. If you aren't sure if you want a CFA vs CFP, then the CFA is probably not for you. Not even in the same ballpark. Link to comment Share on other sites More sharing options...
HeyWatchThis Posted February 17, 2014 Share Posted February 17, 2014 Sorry if I missed this discussion buried in this thread but just out of curiosity what % of your income do you guys normally invest? We have been doing 15% but I have been thinking about upping that.... Link to comment Share on other sites More sharing options...
uhhello Posted February 17, 2014 Share Posted February 17, 2014 Have a question in relation to son (6 y/o) and his college education. I have a relative who is wanting to deposit an amount monthly but is leaving the vehicle up to me. Thing is, I have my degree and don't plan on using the Post 9/11 bill so he will have that (as long as its still around). What is the best way to grow the money as well as staying flexible for him to use it as he pleases if he doesn't require it for college tuition? Link to comment Share on other sites More sharing options...
Champ Kind Posted February 17, 2014 Share Posted February 17, 2014 (edited) I'm at about 15%, exclusive of kids 529 investment. I increase with every pay raise. Edited February 17, 2014 by Champ Kind Link to comment Share on other sites More sharing options...
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