Just joined the Navy.... What to buy with my $20,000 sign on bonus?
- Thread starter .45Guy
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aka108
Member
Probably enough there to buy 4 shares of Berkshire Hathaway (Baby). Don't blow it on crud. Invest it for your old age.
Aaryq
Member
Sorry to tell you, boss, but the Air Force isn't taking anyone with prior service. That said, just remember, you might be able to buy a quite a few nice weapons but (1) You'll have to stow them at the armory until they let you move out in town, and (2) with a seamen's pay it might get difficult to feed all of your firearms.
So what did you enlist for?
So what did you enlist for?
onemsumba
Member
Invest it. not on guns, TVs or Cars, or diamond rings....
put 4000 in a roth IRA
put the rest in a brokrage account at fidelity. and over the next 2 years put it in a roth IRA.
put 4000 in a roth IRA
put the rest in a brokrage account at fidelity. and over the next 2 years put it in a roth IRA.
righteousbarbarian
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wise words. you should definitely do this because if you're enlisting in the Navy, money will still be pretty tight and you need to plan to be secure in your old age. That being said, you still might want to buy just one little toy. Maybe an H&K USP Tactical .45 and a Knights Armory suppressor.
That's what I would get anyway.
SSN Vet
Member
May I be the first to inform you ...
N ever
A gain
V olunteer
Y ourself
:banghead:
healthy sign on bonus....what's your rate going to be?
get any guaranteed schools?
Your gonna get some time on the pond shipmate! put your money in the bank and it'll be there to play with when you rotate to shore duty.
Good luck to ya'
N ever
A gain
V olunteer
Y ourself
:banghead: healthy sign on bonus....what's your rate going to be?
get any guaranteed schools?
Your gonna get some time on the pond shipmate! put your money in the bank and it'll be there to play with when you rotate to shore duty.
Good luck to ya'
lawdogso
Member
Invest in your education. Wait on buying a few toys now, and get the smarts you need to grab that high paying job in a few years. Then you can buy a lot of toys and have money to burn.
lawdogso
lawdogso
aka108 and onemsumba are on the right track. Invest it, starting with a Roth IRA and continue to contribute regularly. lawdogso is right too, as your education is your best investment. Maybe pick up a toy or two, as in whatever firearm suits your fancy, but preparing for the future is the smartest thing to do.
ZeSpectre
Member
Take $2,000 to have some fun and then follow the rest of the advice and INVEST IT.
Get that money working for you while you are too busy to spend it and you'll come out of the service in good shape.
Get that money working for you while you are too busy to spend it and you'll come out of the service in good shape.
tinygnat219
Member
Congrats! Sock the bonus away! When you get out in a few years, you will have something that 90% of Americans don't have: Savings.
Guns can wait, if you like, buy yourself a quality pistol, rifle, and shotgun. Sock the rest away.
Guns can wait, if you like, buy yourself a quality pistol, rifle, and shotgun. Sock the rest away.
WeThePeople
Member
For what it's worth:
I'm with the investment crowd. Pick one reasonable (<$1,000) new toy that you just can't live without and invest the rest. I didn't get a sign-on bonus when I enlisted in the Army but can almost guarantee that I would have blown it if I had. Knowing what I now know, I would invest it wisely.
Aside from that: Thank you for enlisting. You are entering the United States Military and will be serving with the finest people on Earth.
I'm with the investment crowd. Pick one reasonable (<$1,000) new toy that you just can't live without and invest the rest. I didn't get a sign-on bonus when I enlisted in the Army but can almost guarantee that I would have blown it if I had. Knowing what I now know, I would invest it wisely.
Aside from that: Thank you for enlisting. You are entering the United States Military and will be serving with the finest people on Earth.
Plain Old Bill
Member
....a college education for when you get out!!!!!
HorseSoldier
Member
?? I was under the impression they were quite happy to take you if you wanted to go Special Tactics, and very occasionally if you had training in a career field that transferred over directly from your prior service to an Air Force AFSC (or whatever they call their MOS's).
glockman19
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Don't put all of your eggs in one stock.
I'd get a Fidelity account and buy the balanced fund. FBALX. It will grow at about 9% over time you'll have a bundle. also...contributing part to an IRA over the next few years will allow you to defer taxes and compound the growth greater than if you had not.
Sistema1927
Member
As others have said, invest for your future. With the right strategy you might avoid most of that almost $5k tax bite on the front end.
Funding a no load mutual fund retirement fund with that amount now will give you a good foundation fro the future. Trust me, if you do this you will thank me 30 years from now when you can comfortably retire in your 50's. Then you will have the wealth, the time, and the freedom to buy all the toys that you want.
Funding a no load mutual fund retirement fund with that amount now will give you a good foundation fro the future. Trust me, if you do this you will thank me 30 years from now when you can comfortably retire in your 50's. Then you will have the wealth, the time, and the freedom to buy all the toys that you want.
Gator
Member
Sign on bonus? I think my recruiter gave me a bumper sticker........
I'd get one nice pistol and invest the rest, you will be glad you did when you get out.
I'd get one nice pistol and invest the rest, you will be glad you did when you get out.
Stock
Dont blow it on crap. If you invest wisely you can retire with some nice cash. Trust me... I am a finance geek. I have averaged a little over 23% on my money over the last 6 years and I work with a few guys who can do much better than me. Do your home work, invest wisely, and you will be well rewarded in the long run.
Get a ROTH IRA, max it out ($4000.00 this year). When you retire, you can take that money out tax free as long as you are over 59.5.
Dont blow it on crap. If you invest wisely you can retire with some nice cash. Trust me... I am a finance geek. I have averaged a little over 23% on my money over the last 6 years and I work with a few guys who can do much better than me. Do your home work, invest wisely, and you will be well rewarded in the long run.
Get a ROTH IRA, max it out ($4000.00 this year). When you retire, you can take that money out tax free as long as you are over 59.5.
The Deer Hunter
Member
How much are the cheapest machine guns?
plexreticle
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Buy a $1000 toy and the rest dump into a Roth IRA or some other investment.
Johannes_Paulsen
Member
I agree with those that say treat yourself a little ($1,000 sounds fine,) and invest the rest. Sock it away, like you never saw it, either through a brokerage firm or on your own (if you're saavy enough to do it.)
The Deer Hunter
Member
Barret M82
Eightball
Member
Maybe some form of handgun that is soon-to-be-banned, with a supressor to boot; then invest. Or just some form of "about-to-be-banned" something or other, either as a "fun tool" or as an investment for later, and still invest.
Money market mutual accounts are a wonderful thing.
Money market mutual accounts are a wonderful thing.
+10,000 on the investment suggestion (just check my occupation)
It will shock you as to the cost of waiting for investing for your retirement in terms of how much money you will have to throw at it for every year you do nothing.
BRKA (and B) is hardly "one" stock. BRK A or B shares represent the holdings of Berkshire Hathoway. They have invested in numerous companies and own "insider" interests in numerous companies such as Coca-cola (at one time, they owned 6% of Coke's issued shares.) In addition, they wholly own several companies that they have taken "private." Buffet has a particular love for Insurance companies as cash cows.
I do subscribe to the plan of diversification, and I doubt I'd throw all I had into BRK. Still, I wanted to set the facts straight regarding the stock.
For those that don't relish the idea of forking out the money for BRKA (BRK A-shares), there is always the option of BRKB (BRK B-shares). They are 1/10 the value of BRKA at any given time, and the movement one way or the other will be 1/10 the move. Basically they are a 1/10th share of BRKA. It's nice for the Buffet followers who don't have a big ole pile of money-- yet.
-- John
Disclaimer:
Nothing written above is a recommendation to purchase any particular investment vehicle or security. All investments carry a degree of risk that may include loss of principle. Please talk to a Investment Professional before investing in any security.
It will shock you as to the cost of waiting for investing for your retirement in terms of how much money you will have to throw at it for every year you do nothing.
BRKA (and B) is hardly "one" stock. BRK A or B shares represent the holdings of Berkshire Hathoway. They have invested in numerous companies and own "insider" interests in numerous companies such as Coca-cola (at one time, they owned 6% of Coke's issued shares.) In addition, they wholly own several companies that they have taken "private." Buffet has a particular love for Insurance companies as cash cows.
I do subscribe to the plan of diversification, and I doubt I'd throw all I had into BRK. Still, I wanted to set the facts straight regarding the stock.
For those that don't relish the idea of forking out the money for BRKA (BRK A-shares), there is always the option of BRKB (BRK B-shares). They are 1/10 the value of BRKA at any given time, and the movement one way or the other will be 1/10 the move. Basically they are a 1/10th share of BRKA. It's nice for the Buffet followers who don't have a big ole pile of money-- yet.
-- John
Disclaimer:
Nothing written above is a recommendation to purchase any particular investment vehicle or security. All investments carry a degree of risk that may include loss of principle. Please talk to a Investment Professional before investing in any security.
rangerruck
Member
pay off any debt, get a savings acct, and c.d. buy anything that will MAKE you money!!! then save a few bucks for a couple of 22's, rifle, pistol, ammo, that sort of thing. I am former military, and i am telling you, use as much money as possible, to buy savings, stock, bonds, etc., that will make you money.
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