I'd like some input on finances/investing

[Dlachance]

Most of you know that in a few weeks I'll be leaving for bct. No longer will I be in business, and have figured my net income will drop by 38%. In another thread, I posted about wondering which car to get and that I'd be putting $15k down. Quite a bit of the money was from savings, and the rest is from me basically selling my regular customers accounts to another detailer.

So I got to thinking, maybe I should pick up something that costs around $8-$10k, put about half down, and then do a 2-yr finance to help build more credit. It would probably be paid off sooner though.

The reason for not wanting to spend as much on a car that will sit on base is that if it does have to sit for a while, I'd rather have a cheap car do that than something nice. Also, I want to still be able to continue investing in pm's since I dont trust the dollar, and either do the Germans now. I like going outdoors a lot, and do plan on travelling up North to go hunting and fishing, so I will need extra money to spend on firepower and travel.

So my question is, what would you guys and gals do in my situation? How would you divide up net $1900/month (army and supp. Income)? BTW, I *plan* on staying in for 15-20 years, unless I become interested in contract work for the gov.

Oh, and what is a good car for $7k-$10k? Whatever it is, I can work on it, so repairs are not too big of a deal, I can accept a high mileage car. Have been looking at 06 Lincoln LS's.

Thanks

[03mustangdude]

buy my z comes with a lifetime warranty on almost the whole car thru oreillys and motor is as strong as ever lol

Anything domestic will be half the repair bill as imports.

[Taylor]

Wait, so, what's your question?

[95ragtop]

Depending on how much you want to be involved with your funds, an easy thing would be to invest in a solid stock with a good dividend and set up a dividend re-investment program (drip). If you watch stocks then just play with fake money till you get the feel of things. I have been investing in the market for about 2 years now. Haven't made anything decent yet, although I did pick up some Ford at an average price of 9.57 a few months back.

Another thing I looked at before the wife cancelled it was using my VA loan to get a fourplex, live in one unit and rent the other 3. Almost rent free living, and if you don't feel like dealing with tenants or that you will be deployed frequently you can have a property manager.

[Dlachance]

buy my z comes with a lifetime warranty on almost the whole car thru oreillys and motor is as strong as ever lol

Anything domestic will be half the repair bill as imports.

LOL, I think I'm gunna pass on this one. Sounds like a solid ride though!

Depending on how much you want to be involved with your funds, an easy thing would be to invest in a solid stock with a good dividend and set up a dividend re-investment program (drip). If you watch stocks then just play with fake money till you get the feel of things. I have been investing in the market for about 2 years now. Haven't made anything decent yet, although I did pick up some Ford at an average price of 9.57 a few months back.

Another thing I looked at before the wife cancelled it was using my VA loan to get a fourplex, live in one unit and rent the other 3. Almost rent free living, and if you don't feel like dealing with tenants or that you will be deployed frequently you can have a property manager.

The stock market does not seem like a scary place, but I have zero real experience. Listening to 96.7 I looked into themutualfundstore, but again, I have no idea how to make big money there and am about $35k short of an opening investment.

The property idea you have seems like a decent idea. Property management is not too expensive so it may be reasonable to pick up a property near to a family member and pay them to manage it.

[Captain Crawfish]

whatever you do be careful. people lie their
ass off and good companies take hits too in a downtrend. You should learn how to spot trends before investing real money IMO.

[jyro]

I don't know much

whatever you do be careful. people lie their
ass off and good companies take hits too in a downtrend. You should learn how to spot trends before investing real money IMO.

I kept mine in the market for 20 years and it didn't do much as far as gain on it's own. Since then I put it in a fund like PDIIX, it pays a dividend every month. I roll it back in but mines in a 401 so no taxes. I hear Obama is taxing dividends at 45% starting in 2013 so it's something to check into. Capital gains is taking a hit too.


Capital Gains Dividends Other*

2012 15% 15% 35%

2013+ 23.8% 43.4% 43.4%


*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. (Bill: Reconciliation Act; Page: 87-93)


http://jeffduncan.house.gov/full-lis...care-tax-hikes

[slow99]

Listening to 96.7 I looked into themutualfundstore, but again, I have no idea how to make big money there and am about $35k short of an opening investment.

I don't get this post. Are you referencing something specific with the "$35k short of opening an investment account?" You don't have to have $35k to open a general account.

Depending on how much you want to be involved with your funds, an easy thing would be to invest in a solid stock with a good dividend and set up a dividend re-investment program (drip).

No, you never put your investment in "a" stock. That's finance 101 - diversification. You'll never get rewarded for taking on the idiosyncratic risk of a single (or limited number of correlated) stocks. Now diversifying in to a relatively uncorrelated group of dividend paying "quality" stocks might be a different story.

[Buick355]

Lincoln LS's are shit, bad investment.

[talisman]

lol

[Sean88gt]

Buy high, sell low. Short a stock right before it goes on a meteoric rise, and buy just after it peaks.

[Wicked98Snake]

Buy a cheapo car and park it at the base, you're not going to be driving it much anyways, then just put your money into savings or some kind of investment. I don't think a 7-10K car is a good investment if it's going to just sit there.

[Roscoe]

LOL... don't buy a car until you find out what your permanent duty station is.

My son just finished BCT/AIT and is leaving this weekend for S. Korea. He won't have a car and it would've been really foolish to do anything.

[Dlachance]

Lincoln LS's are shit, bad investment.

Well this is grat news..

Buy a cheapo car and park it at the base, you're not going to be driving it much anyways, then just put your money into savings or some kind of investment. I don't think a 7-10K car is a good investment if it's going to just sit there.

Fuck it, I guess another Mark Viii might be my best bet..

LOL... don't buy a car until you find out what your permanent duty station is.

My son just finished BCT/AIT and is leaving this weekend for S. Korea. He won't have a car and it would've been really foolish to do anything.

It will be after AIT. I finish first week in April and will be on leave for a while. Only problem is, is that I am not quite sure if I will be able to stay at base over Christmas. Two of the recruiters at my rs went to ft sill and said they kick everyone out, but I've heard otherwise. I'd hate to go in the hole before getting a permanent assignment, and I won't really have a family to come home to anyways.

What his your sons mos? Tell him good luck over there.

[Roscoe]

It will be after AIT. I finish first week in April and will be on leave for a while. Only problem is, is that I am not quite sure if I will be able to stay at base over Christmas. Two of the recruiters at my rs went to ft sill and said they kick everyone out, but I've heard otherwise. I'd hate to go in the hole before getting a permanent assignment, and I won't really have a family to come home to anyways.

What his your sons mos? Tell him good luck over there.

42A - HR - What is your's?

Just be prepared that your duty station may not allow for you to buy something, so I'd hold off on any decisions...