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Question about money
- Thread starter ZoomByU
- Start date
Steve Wilkins said:
I could have done this in Hawaii, but I would had to have had a room mate...and he would have had an Ice lab in the other room. Exhibit (a) http://www.aetv.com/dog_the_bounty_hunter/index.jsp
Steve Wilkins said:
Hmmmmm ..... That's a good idea. Not to pick at straws, but at $400/month ... Hey !!! let's call it $500 a month (that's close enough for government work) .... tax-free, you will be a millionaire in 166.66666666666666666667 years. I'm ready.
Bottom line: I made a lot of money over the years workin' for the Man .... my take: you will NEVER get "rich" working for someone else ....
Hell, getting the extra $400 (4800/year) invested each month is just a bonus. Like KayBay, I max out mine and my wife's IRA and TSP at $8000 and $15,000 respectively.
However, if I were to start out with nothing today (age 31) and invest only the $400 at a meager 10% return over the next 34 years (assuming it is put into a tax deferred account of course), I would have $1,370,181. Not sure where you get 166 years from. Even at a very conservative return of 8% on that $400 per month for 34 years, you would have $842,648.
Now, if you max out the IRA and TSP as I've described above, you will have $5,645,990 after 34 years at an average 10% return....or just $3,648,427 at the more conservative annualized 8% return over the same period.
Now, is that rich? Hell, I don't know. What I do know is it buys me a pretty sweet motor home to roll around the country in.
.....and it's not going to take me 167 years to do it in.
However, if I were to start out with nothing today (age 31) and invest only the $400 at a meager 10% return over the next 34 years (assuming it is put into a tax deferred account of course), I would have $1,370,181. Not sure where you get 166 years from. Even at a very conservative return of 8% on that $400 per month for 34 years, you would have $842,648.
Now, if you max out the IRA and TSP as I've described above, you will have $5,645,990 after 34 years at an average 10% return....or just $3,648,427 at the more conservative annualized 8% return over the same period.
Now, is that rich? Hell, I don't know. What I do know is it buys me a pretty sweet motor home to roll around the country in.
.....and it's not going to take me 167 years to do it in.
Steve Wilkins said:
O.K., potty mouth. You don't kiss your Mom with that mouth, do you ??? Actually ... 166.6666666666666667 years was, how you say in theeeeese country .... a joke???
Yea, it's all fun and games when you're flying a whale 'round town making $200K+ per year. For the rest of us making peanuts, we gotta eat Ramen noodles if we want to get rich.
I'm not going to fully bite on this one - I have a job and agree that if a woman is concerned about money, she needs to be contributing. But I wanted to point out that there are a lot of military wives out there that want to work but are unable to find anything worthwhile in these middle-of-nowhere duty stations. Here's a quote from Brett from an old post regarding Whidbey Island, for example:
Do I want to work when I get to Whidbey? Yes. Do I think I'll find any computer programming jobs on Whidbey? Probably not. Do I want to commute two hours each way to Seattle? No.
To the original poster - This seems like an easy issue here. The pay scales are all on-line. Make out a sample monthly budget and compare it to the pay scales. She should be able to get a good idea of where you'll stand financially. Also, have her join the Private Spouses Corner forum on this site. She can talk to other wives that are making it work.
Brett327 said:
Do I want to work when I get to Whidbey? Yes. Do I think I'll find any computer programming jobs on Whidbey? Probably not. Do I want to commute two hours each way to Seattle? No.
To the original poster - This seems like an easy issue here. The pay scales are all on-line. Make out a sample monthly budget and compare it to the pay scales. She should be able to get a good idea of where you'll stand financially. Also, have her join the Private Spouses Corner forum on this site. She can talk to other wives that are making it work.
bennett4362
deployment sucks
Kathy said:
this is me; i've always had a job, even while attending grad school, but haven't been able to find anything here in the 5 months we've been here.
nonetheless, we're still living "comfortably." by no means do we enjoy the same standard of living as when we both worked, especially when we both worked in the civilian sector; however, we don't go hungry, we live in a nice house, and entertain ourselves as best we can in oak harbor. there are definitely areas we've had to cut, but such is life. as long as you live within your means, you'll be comfortable.
Kathy, you're missing a huge point in this whole thread. The original poster isn't married and was asking a question referring to his GIRLFRIEND. Wives are in a different category. Once married, the salary of one becomes community property. If a certain individual who is the sole breadwinner doesn't want his/her salary to be community property, then said individual should not get married. It's actually pretty simple when you think about it. At any rate, this thread is NOT about wives who don't work but are still concerned with finances. It's about girlfriends who don't work but still want to concern themselve's with their significant others' finances. Like I said, 'girlfriends' and a guy's salary have nothing to do with each other.Kathy said: