Background:
Maybe not a true windfall but it feels like it. I accepted an offer on my house and should be walking away with $50k-ish. I should be getting a $50k-ish reenlistment bonus ($37k after taxes) early next year. I will also have significantly lower expenses than normal for the next 6 months meaning I can put away $3k/mo.
I don't know if I will be purchasing another house anytime soon but I have VA loan options and don't think I will be buying right away so lets not think about a down payment.
So where do I put this money. I plan on putting as much into TSP (military 401k) and IRA as I legally can this year and next. That still leaves me with a big chunk to do something with.
My only debt is a low interest car loan that I plan on keeping open.
I am trying to get smart on investments outside of standard retirement accounts. The general consensus of the internet world seems to be ETFs. I have done some reading. My problem seems to be I have no clue what am I looking at when I see composition, style, ratings, and some of the stats. Then things start getting even more complicated when these are held in a taxable account.
My current retirement accounts are target 2050 accounts and I think maybe I am supposed to change how those are invested if I start doing taxable investments too?
I have USAA (primary bank) and Fidelity (2% CC) accounts. I am ok with opening a Vanguard account (or something else) if the options are better.
Question:
Can you point me towards some reading that is at my level and/or provide some insight? I am not above talking to a pro either but not sure I need to.
I might stop working full time before age 59 1/2 and I plan on having a military retirement. Do those things factor into how I should allocate investments?
Maybe not a true windfall but it feels like it. I accepted an offer on my house and should be walking away with $50k-ish. I should be getting a $50k-ish reenlistment bonus ($37k after taxes) early next year. I will also have significantly lower expenses than normal for the next 6 months meaning I can put away $3k/mo.
I don't know if I will be purchasing another house anytime soon but I have VA loan options and don't think I will be buying right away so lets not think about a down payment.
So where do I put this money. I plan on putting as much into TSP (military 401k) and IRA as I legally can this year and next. That still leaves me with a big chunk to do something with.
My only debt is a low interest car loan that I plan on keeping open.
I am trying to get smart on investments outside of standard retirement accounts. The general consensus of the internet world seems to be ETFs. I have done some reading. My problem seems to be I have no clue what am I looking at when I see composition, style, ratings, and some of the stats. Then things start getting even more complicated when these are held in a taxable account.
My current retirement accounts are target 2050 accounts and I think maybe I am supposed to change how those are invested if I start doing taxable investments too?
I have USAA (primary bank) and Fidelity (2% CC) accounts. I am ok with opening a Vanguard account (or something else) if the options are better.
Question:
Can you point me towards some reading that is at my level and/or provide some insight? I am not above talking to a pro either but not sure I need to.
I might stop working full time before age 59 1/2 and I plan on having a military retirement. Do those things factor into how I should allocate investments?