Paste.
I waited until my wife and I married. It was definitely worth it. After 6 years of marriage, normalcy certainly sets in (as well as periodic mundanity), but I always expected it would take work to "keep the flame burning", so to speak.
Please look and report back!
RemindMe! 2 days
That steak has been frozen since Clinton was President...
That scene in Hereditary when the mom is cutting her own head off with piano wire.
TV dinners, video game consoles, snack cakes
For the first 3 years, those who joined without dependents are living in on-base dorms which are free, so no rent or utility costs are incurred. And after you've been in for about 3 years, you are eligible to find your own place to live and you start collecting Basic Allowance for Housing, which effectively doubles your income. That entitlement is also tax free. So military pay is actually pretty good. I've been in for 10 years and plan to retire at 20.
- Whiplash
- 12 Angry Men (the original)
$2696 in Northern Virginia. 4 br, 4 ba townhome
That's an average of once a month. So no.
I make about $2K/wk with a military salary after taxes and TSP (401k-equivalent) contributions. I don't think I get paid enough compared to the current going rate for cybersecurity professionals in the private sector but the military benefits make up for the monetary lack, especially the military pension.
I do cybersecurity and have been in for 10 years. No experience or degree is needed for any enlisted job.
How long have you been contributing and what percentage have you contributed for the majority of that time?
Same here. Definitely not selling my house (now a rental property) with a 2.25% rate.
In 10 years, I will have gained about $120K in equity from the rental income and, with a modest 3% appreciation rate, my home will have grown from a valuation of $419K in 2021 to a valuation of approximately $560K. So in 2034, my remaining mortgage balance should sit at around $270K. Selling my home in 10 years could profit me about $290K. Assuming your estimates are correct (and any predictions about market performance must naturally be taken with a grain of salt), I could potentially make more money over 10 years in investments. But this is assuming the market can be easily predicted over long periods of time, which it cannot; making a mortgage a historically safer investment long-term than the stock market. The markets are more volatile and risky than paying down a mortgage (which is tied to a real, tangible asset) over the long-term. And we haven't even waded into the tax implications. Regarding capital gains taxes, I would pay much less in taxes on my home if I live in it for 2 out of the last 5 years before selling. I wouldn't have that option with stocks. I would have to pay capital gains throughout the entire investment period.
At no point did you appear to consider or even ask what my goals or risk tolerance are, and quickly discounted my ability to save up for an emergency fund if I wanted to. I did, after all, tell you that we have 1.5-2K in expendable cash remaining every month. We are just in a temporary cash shortfall due to a move and other life events. I don't think it's wise to be throwing around advice like "sell the rental" without getting all the details first. Nevertheless, I appreciate you engaging with me thus far. It has given me some things to think about.
We definitely don't want to sell, but converting it to an AirBnb would probably be a no-go considering the location of the property is not the ideal "tourist" location and is marginally isolated from any notable city center. But I'd be open to advice on that front if you think there is a way I could make it work.
The equity is not coming out of my pocket. It is a rental property. The money is coming out of the renter's pocket and into my property. It is, by definition, generating approximately $12K every year with no investment on my part, aside from periodic upgrades and maintenance.
Have you thought about an IRA and 529 for the kids?
I haven't looked into an IRA. But I'm not too fond of the 529 for us as it can only be used for education (right?) and I have passed my millitary GI bill to them; and I don't want funds to only be useable for that purpose alone.
We have health and life insurance through the military, so no issue there.
Principle payoff is growth in wealth, particularly when it isn't coming out of my pocket. It's that simple. It isn't liquid, but it's still equity growth. With no investment at all on my part, my rental property generates about $12K per year that will actualize long-term. Does that not make more sense than putting my money in investments that track the S&P 500, which, by your estimate, would only generate ~$6K per year?
There you go 😂
You've been kidnapped by a sadistic billionaire and trapped in a 5 mile (8 km) tunnel filled with roaches, centipedes, and scorpions. You have 2 hours to reach the endpoint and win 1 billion dollars and your freedom. However, you must temporarily surrender 2 out of 3 of sight, hearing, and touch.
hypotheticalsituation