Re: Hop in! On my way to a 100k![ Edited ]
05-10-2012 04:55 AM - edited 05-10-2012 05:00 AM
ihatemyscore - I don't have a "number" in mind for "profit". The overall goal is to save money and to put it in the best interest rate.
I do love seeing the amount of interest I earn increase each month!
Congratulations on going into the military! (We are Army too!)
My suggestions for you would be
* Pay into the GI Bill - it will pay off in spades! (It's like a hundred a month.)
* Put money into your TSP. At least 5% of your gross income!! Uncle Sam matches it.
* Put $100 a month into a CD. I use Navy - you can do their easy start CD that earns 2.96%, 3% APY. Just set up direct deposit, start with as little as $50, max 3k.
I know, that is almost all of your paycheck in the beginning, but it will give you a great return!
PM me with any specific questions. I'd love to help you figure out a plan to work with your new income.