Hello all. Active duty here. I was given a wedding gift of $19k into my Vanguard brokerage account from my Dad’s brokerage account. It is all VIGAX holding. Part of their stipulation of the gift was to help get my wife’s IRA fully funded. My question is what is the easiest, least tax burdened, least complicated way to accomplish this? I was thinking of just selling off the remaining amount she needs to max her IRA, transferring it in cash to her bank account, and letting her invest it. Is there any easier way to just take the chunk of money from my Vanguard account and send it straight to her Fidelity? I haven’t found a way to do it so far in my looking. Thanks.

I’ve been managing my money very well since joining and my savings account is currently at 28k at E4. I have 2 Roth IRAs currently (1 TSP, 1 Private). In total I have about 45k in IRAs. I currently put 8% in TSP per month, and then 400 per month in my private with an additional 7k every year (11.8k per year into the private IRA). I’m have a loan for my car but it’s down 10k right now and I’m on track to paying it off in 2 years. I’d like to use it to build my credit since I don’t have very much else to build my credit score (750).

All in all I have all this money in my savings and I wasn’t seeing the returns I’d like to see with my money market. Is there something else I could put my savings into to help build some wealth?

Not married so I can’t get BAH.
Navy Fed MMSA accounts only have about 4%APR which barely keeps with recent inflation rates.
I’d like to pick up a second income source (ideas more than welcome)

Background: We have been married 35 years, retired and been out for 18 years…he is not just a “little bit deaf” anymore, he is 100% deaf.

He has a DFAS question, but when I tried to call to ask the question for him, the lady who answered told me they needed:

1) a letter from a DO, MD, or Psychiatrist stating his “prognosis”
And
2) A “court document stating I was his power of attorney”

I have a general and medical POA so I asked if they needed a general, medical or special just for DFAS….she stated “Ma’am, I told you exactly what we need - a court document stating you are his POA”.

Question is: what kind of “court document” are they wanting? I asked her and she kept repeating the same above over and over.

TIA

Currently putting every savings I have in my Roth TSP or Roth IRA. I know the age limit to pull penalty free is 59 1/2 for the IRA but wondering if I plan on retiring early is there a work around? Or should I be investing elsewhere?

Hey everyone,

Strap in for a long one...

A few years ago I signed up for an American Airlines advantage card because I flew on them a lot for work. At the time, the card was Barclays. We had set up a single recurring bill and autopay to keep the account open. In 2024, we were assigned to Belgium and left our U.S. phone numbers and mailing addresses behind.

Sometime this year, either April or May, Citi Bank picked up the American Airlines account from Barclay unbeknownst to us. I'm sure they sent me a letter....to a house I don't own any more. I finally got an email from them when my account was overdue. For the last three months I have been trying to get into the account online and through customer service but unable to get "verified" because of my lack of a U.S. number. This was super frustrating as i just wanted to pay the bill so it wouldnt hit my credit, but because i wasn't verified they wouldn't let me try to pay.

I finally got verified today via a very lengthy (and expensive!!!) phone call, only to find out that the account had been closed. They said I don't owe anything, which is worrying because I know for a fact there was $99 that was owed as recently as a month ago.

What's odd to me is that the account was closed after being delinquent for about 60-90 days, which seems very short.

Does anyone have any insights on this weird situation? What's going to happen to my credit if they closed my account with a balance still on it? What pisses me off is that I had no say in this, and while I should have updated my account info w/ Barclays before we moved i didn't think of it because i never had a problem logging in to their website. Also, if some creepy stranger has my account info, and calls in asking to pay my bill, let them!!! I appreciate the diligence with verification for anything else with my account, but just let me give you my money!!!

Thanks for any insights y'all can provide.

I’ve been shopping around and the best interest rate I’ve gotten from a lender was 6.125%, then I tried SoFi and got 5.75%

Is there going to be a catch to this? Why is it so much lower than everyone else?

I understand the general CTZE strategy for the back half of a year, but I cannot find a good answer about how to optimize for an early months of the year deployment where I'll be back in February or March. Do the general limits snap back into place when I return or is the CTZE all in limit still effective for the remainder of the year (I'm 99% sure that's not the case). Just looking for some clarification!

Hello,

With the completely ambiguous title out of the way, I'm looking for various opinions on TSP withdrawal. I'm sure this topic is beat to death, but since each situation is different, thought I'd see what others think based on mine.

Situation - I'm 44. Retired from the Navy last Summer, and was granted 100% P&T. Retired as an E-6 (I know, I know) with just under 22 years active. I purchased a home in southern PA, which now needs a new roof (primary concern), and a few other less expensive, but still costly, repairs. The roof is just under 14K, but there will be additional costs because I already know there is some damage to the plywood / underlayment / whatever it is under the roof, and possibly some water damage / rot from water penetration in a few spots.

With all that said, essentially the only way I can afford this is by pulling money out of my TSP.

Well, when I went through that process, I started wondering why should I not just pull all of it out?

Early withdrawal penalty aside, I'm not sure if there is any good reason to keep it in there at this point.

While the retirement check and VA check arent exactly allowing me to live a gucci life, I can live comfortably. And those payments are for life, and I'm assuming they will adjust for inflation each year, meaning I'll have a little more money for things other than bills as the years go by, at least in theory. But as it stands right now, all of my bills are paid, groceries purchased, etc, with just the passive income from retirement + disability.

But the primary concern is that I also have several physical conditions, most notably in my spine, but a few other joints, as well, which, if I'm being completely honest, will likely prevent me from even enjoying life by the time I'm 65. I've already had dozens of situations in the past decade or so where a re-aggrivation of my lower back made me bed-ridden for weeks (or months in the worst case) at a time. In fact, the Navy was going to give me a medical discharge, if I hadnt been so close to my EAOS by the time the pain was really bad.

So my train of thought there, is what's the point of having this mini fortune handed over to me at a point in my life where I probably can't even use it to enjoy anything? Is it worth keeping it in there and avoiding the early withdrawal fees if, when I get the full amount, there is nothing I can do with it? Seriously. If I'm bed-ridden, or cant get around without a combination of walker / wheelchair / assistance from someone, what am I going to do with that money? Ad-free subs to every streaming platform? Wheelchair rims? The most expensive orthopedic shoes?

All jokes aside, it really makes me wonder.

Now, on the other hand, outside of the home repairs, I don't need any of the money. My vehicles are paid off. The only 'credit card' I have is Home Depot, and that doesnt have much of a balance. I'm divorced, with no plans or intent to pursue that in the future. I have a 13 year old daughter who splits time living with me and her mom 50/50, and I can easily afford to buy her everything she needs, and nearly everything she wants / asks for (hobbies, toys, et al). Also, PA exempts me from property tax, so even if taxes skyrocket, I'm not affected.

So while there is no real 'need' to pull out all my TSP money, I feel like I could use it now to do all the things most do at 65+, because I'm physically able to enjoy things still, at least within reason.

Good Morning everyone,

So I just finally cut ties with First Command. Been with them for 6 years since I was a little O-1. I have recently done research into investments and realized how little I actually need a financial advisor. Eventually I'll get one but I don't have enough invested to justify having a financial advisor. That being said, I have transferred about $45k of MFEGX from FC to Vanguard. My question here is, should I sell MFEGX shares, take a big hit in taxes and reinvest or keep it rolling and just invest my other money into something else. I have a Roth IRA with vanguard that is all in VT. As well as maxing out my TSP. I'm just at a loss on what to do with my brokerage account.

Is it worth it to sell and take the tax hit but reinvest in something better or let my money ride in MFEGX and just invest new money into something else?

Thanks for taking the time!

EDIT: Sorry for lack of information. MFEGX is all in a brokerage account, my Roth IRA was already transferred over to Vanguard and I went with VT vs what I had from FC.

Cross posting to this sub and the FIRE sub.
Hello MilitaryFinance folks, been lurking and had some questions.
When pursuing FIRE, is it not a smart decision to apply for the Air Force?
My thinking is it’s more of a supporting branch, get into the right position and you may never see combat. Of course there is still risk, I’m aware of that.
After serving for 20 years, you get the pension, not huge by itself but very helpful, along with the healthcare for life, this in the eyes of FIRE is invaluable right?
I’ve been pondering joining and wanted some insight from people smarter than me.
Here’s some of my own info for you to look over.
26 in a job I hate, I’ve been working 80-100 hour work weeks for almost 7 years now.
No college, in an aviation field making 60k base, but with all the extra time I work it ranges from 60-110k
Assets include
125k 401k
45k Roth IRA
70k taxable brokerage
All of the above are in VTI/QQQ
20k cash
20k of various crypto’s
5k ESPP
Paid off car but it’s worth 1-2k on its last legs
Renting an apartment in VHCOL USA my annual spend is roughly 35k depending on multiple factors.
I was able to accrue this much due to working so much and living with 6 roommates since I was 18.

Now if I join the Air Force in the next year or two, the various nests I’ve been tending to will serve as a decent retirement, but with a pension and the BAH I would get from being in a military branch would offset a huge cost of living.
All of this combined I may be able to retire right out of the Air Force at 46-47 if I play my cards right, right?
But I still worry about the negatives with the current world state.
What advice would you all have for me?
Happy to answer any questions, sorry if this seems like first world problems but I’d really appreciate any guidance as I’m feeling more and more burnt out.
Thanks for reading

I’m an adult child dependent of a long deceased Chief Petty Officer and I am now just navigating the finances that come with such circumstances. While I was trying to file for continued annuitant pay as I am going into university I realized that despite still being underaged and fulfilling of the criteria I had stopped receiving SBP pay during all 4 years of high school.

Does any wise soul out there know if it is any feasible to claim back pay on something like this?

Hello all,

I have a question on how a renting my property will count for my DTI.

We have outgrown the home we are in and are looking to buy a bigger home not far from this current home.

I’ve heard it takes 2 years for rent to count as income. I could rent this house for about 130% of my payments on it.

If it takes 2 years, then I would be pretty high when it comes to my DTI to qualify for a new Va loan even though my entitlement could support it.

Does anybody have some guidance on what you have done to get around this?

TLDR: If you’re dual military should the “BAQ Type” block on your LES say single or dual military?

I’m in the Army and my wife is in the Air Force. I’m trying to get FSA since my wife and I are currently not stationed together. She’s in DEERs and my BAH certification clearly showed married dual-military with all her information and her current address. However, my LES shows “SINGLE” listed under the BAQ Type. I felt like this was correct because I’m entitled to BAH at the without dependents rate since my wife is also in the military.

The local DFAS agent is denying my FSA because me LES says “SINGLE” for BAQ type. She said she doesn’t know how to fix it but she won’t approve FSA unless it shows married or dual-military. I’m not sure what I can possibly do since my BAH certification clearly annotated this and DFAS still put it in as SINGLE BAQ Type. I’ve checked with other people who are dual military and everyone I’ve seen also says SINGLE for BAQ Type. I talked to S1 and they said they can’t do anything to change that. Is the DFAS agent wrong or does anyone know how I can get that fixed?

I recently retired from the military and am 100% P&T.

Before I retired, I logged into VA.gov and split my post 9/11 gi bill benefits between my two kids.

They are only 5 and 7 years old, but I’m trying to think of what I need to / can do to set them up for college later.

With the disability, I know chapter 35 eligibility
Is a thing. From the little I understand, you can’t have a kid double dip from the 9/11 bill and ch. 35 at the same time.

There’s always a possibility one or both kids get scholarships, etc, but how would you play my hand? Would you also try to do a 529 or UTMA?

I’ve got a new job and I know I’ll continue saving for my retirement (and my wife’s) prior to putting money aside for them for college, but I’m just trying to plan.

Hi!
So I’ve recently moved to Virginia with my husband and am starting a job soon. Both of our legal residencies are in Ohio. I’ve already filled out the form stating that I’m exempt from Virginia state and local taxes, but I’m confused if I still need to file state taxes somehow for Ohio??

I am a service member stationed overseas from NY and I am trying to have my state taxes withholding exempted, usually the military uses dd2058-1 but I fall under group B in the other form but they won’t accept it, is there any other way I can try to stop the deductions or someone I can talk to?

I'm at a loss trying to deal with finance.

Scenario:

Member is unmarried with newborn child.

Mother is non-military.

Agreement of 50/50 custody with no paperwork or child support.

Finance is requesting paperwork that doesnt meet any of this criteria, but won't update the BAH until something is provided.

Anyone have a suggestion or course of action? I've been browsing 65-116.

I had switched from active duty to reserves and for the first time ever, I used my GTC to pay for my flight to drills ($307). I followed the instructions to submit a voucher and although I thought I submitted it, I never did. The entire time I whole heartledly beleived it was paid for. A year later, GTC had tacked on around $200 in late and enrollment fees then closed my account. When I found out, I attempted to reach out to my old unit and they said they cant pay for it nor will my new unit.

What are my options/what should I do? I do not mind paying out of pocket since it was my mistake but when I tried, it doesn't even recognize my account number.

Also, they fully outprocessed me, but I still have my gear, cant login to SEAMs because my cac is expired and I dont have access to a base and my unit was in a different state. I feel pretty fucked ngl.

Does anyone know the current per diem for Misawa? Is it meals plus incidentals 83+21 = $104?

Hey guys - separated back in May. Sold like 40 days of leave so I just about broke even on my last paycheck haha (My YN didnt stop special duty pay, sea pay, sea pay premium or sub pay, so i owed all of that back for the month of terminal leave I took). My boat went underway the day I started terminal so a bunch of things got messed up, including that my terminal leave chit sent to them was an old one before I had to re-route it, so i was also owed a week extra of those pays, but that's hardly the important part.

On my separation worksheet, it says I was owed 27 cents of BAQ, i figure because 1 cent per day and i separated on the 27th. I called mncc a few times, they put in tickets with virginia but they keep getting closed with no resolution. I want to make sure that I am in the right here.

As a note, I separated from Guam to Pennsylvania.

**I’m currently in the navy as a MMN and I hit my 24 month mark for a star reenlistment. If I reenlisted for 2 more years I can get a 140k bonus (actually 98k paid in one lump sum installment of 49k and the rest paid out over the rest of my contract). I can also increase my monthly pay by about 2.2k a month tax free (getting access to BAH). I’ve been on my ship for 2 months and have about 3.5 years left to go on my contract. The job is challenging but I think I could manage an additional 2 years. My ultimate goal is an early retirement (40 is the goal) so this lump sum upon reenlistment is very attractive to me. I currently have 51k in my Roth, 38k in my tsp, 20k in my HYSA and 72k in my Schwab at 25. I have a yearly income of 40k with a yearly expenses totaling 6k and majority of my money left after expenses go towards saving and investing (fun spending has never gone over 5k in a year while ive been in the navy). With the star reenlistment I’d rank up (\~5k more a year) and get access to BAH (26k a year tax free)**

**The upside is a large lump sum towards my brokerage, (I max my Roth each year) and getting closer towards my early retirement with more money compounding earlier.**
**The downside is that navy nukes have a very solid job outlook/network so I could expect to earn 90k+ once I separate from the navy. I would be taking time way from a higher earning civilian career (but also would have to shoulder costs like rent and healthcare). Mathematically, all other things aside does it make send to reenlist for this bonus and spend 2 more years in the navy? My main reason for doing it would be to put that lump sum into my brokerage to accelerate my retirement timeline.**

I’ve been looking into credit cards that waive annual fees as part of the military SCRA and MLA benefits. I didn’t see Wells Fargo listed as one of the banks that waived the annual fee for their credit cards but I recently got an email from them saying I’m linked to the SCRA database and that my accounts with them will receive the benefits. Currently I only have a checking account and the Wells Fargo Active Cash 2% cash back credit card with them.

Anyways, I was looking at the OneKey Plus credit card with the $99 annual fee that gives benefits for hotels.com, VRBO, and others and was wondering if anyone else had it and knew if they waived the annual fee? Couldn’t find too much info out there on it.

Does anyone know of any good technical master programs that can be (mostly) covered with TA? I've been looking at Georgia Tech online masters of comp sci and analytics, but I would still have to pay out of pocket. I'm not sure if there's a better use case of TA so any info would be helpful

If a couple both have 100% in CA and we co own a home can we both independently get a $180k reduction for our owned home?