Archive for the 'acronyms' Tag

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Conversations from the Men's Room - What is the

MensRoomImage.jpgOne of the great resources we have at Macho Spouse is the Men's Room for Military Spouses (sorry ladies, this is a private Facebook page designed for all male military spouses only).  We plan to start sharing some of the more informative/interesting conversations on our website, the thread below is our first "share."  Some of the names have been hidden for privacy purposes, see if you can figure out which names are fake...

 

Jar Jar Blinks: OK, what is this "Rule of 72?"

Yoda: Interest multiplied by time equals 72.

C-3PO: If you're not good at exponential math, it's a quick way to estimate how long your investment will double, given an interest rate. For example: if a CD is earning 3%, then it will double in value in 24 years (72/3=24)

Yoda: To double your investment.

Yoda: ^C-3PO's way is easier to follow. Way easier.

Jar Jar Blinks: So where do these investments live? Seriously, do savings accounts work the same way, assuming you can find one that offers interest?

Yoda: NFCU has a 3% CD right now.

C-3PO: It's all a matter of risk vs. reward/return. The S&P 500, aka TSP C Fund, returned about 30% last year. But it was down 37% in 2008.

Yoda: I was taught to expect a 10% rate of return on index funds back in 06, so my ROTH would double in 7.2 years.

‪Jar Jar Blinks: I guess I have a trust issue... Can I trust the folks at USAA to steer me in the right direction eggs

Jar Jar Blinks: Eggs... Heheheh

Jar Jar Blinks: When asking to set up investments?help

Yoda: Not 100%. Their funds are kind of expensive compared to vanguard and the TSP. But it's better than nothing and their life insurance is fairly priced.

C-3PO: "It depends" USAA only has 2 real index funds, but together they match the entire US stock market. They are not the MOST expensive. Their insurance is pretty well priced, but you're probably find even better at NMAA or the equivalent for other services.

Yoda: If only all branches could use NMAA...

I'm not as conservative as some. Instead if having 6 months of expenses on hand I have 6 months of expenses in a USAA ROTH IRA (no fee for withdrawals of principle with some caveats), and now put everything into ROTH TSP index funds (lowest fees in the world!).

Yoda: I do keep some liquidity (cash or accounts that can very easily be converted to cash), but since we run a surplus each month even after investing, and the military pay is as stable as it gets, I don't keep much in that account (plus I "float" all my expenses other than car insurance, so I don't pay July's expenses until mid-September (if we have to spend more I can transfer assets as needed, has never happened, but just in case), and the "float" on credit earns us rewards and consumer protections).






 Blue Cash Preferred, 6% back at the commissary, 3% back at the gas station and 1% everywhere else (no fee for military).

C-3PO: 

 I haven't dealt with them, but I hope AAFMAA is as good as NMAA.

‪C-3PO: PenFed has pretty good credit cards for military too.

‪Jar Jar Blinks: .... all these damn acronyms....

Yoda: FUBAR right?

C-3PO: (image that can't be shared)

C-3PO: Sorry about being a wiseass

‪Jar Jar Blinks: Better than being a wide ass

Yoda: C-3PO, you've got to take it easy on Jar Jar Blinks, he's a submariner. Just think how many bumps to the head he's suffered.






 But on a serious note, it's pretty cool how many guys in this group have an understanding of personal finance.

C-3PO: If I only had a nickel for every time I hit my head while underway (says the 6'3" Marine)

Mace Windu: Personally, I would put my money in a multitude of investments. Like savings,cd's, 401k, TSP, money market fund and precious metals. Never have all your eggs in one basket.

Admiral Ackbar: ‪Luke, to be excruciatingly technically correct, it's the rule of 69.3. Here's the math behind the answer:
‪http://betterexplained.com/articles/the-rule-of-72/
I like the way they cheat by assuming that for small interest rates, the natural log of the quantity (1 + interest rate) is approximately equal to (interest rate). So it's not much of a stretch of radcon math to assume that 69.3 is about the same as 72.
You can also use the math to figure out when you'll be financially independent:
http://betterexplained.com/?s=rule+of+72

Luke Skywalker: I think NFCU has a special going on that if you open an IRA with $100 they will give you $100. I have 4 IRA's at USAA, IRA at NFCU, TSP and a 403(b) at Fidelity. Saving about $500 a month between all the IRA's.

‪Lando Calrissian: Boy you guys are starting to make me worry about my future. Where do I start when I have no job and only a limited amount that my wife has volunteered to me over the years in some sort of retirement account?

Yoda: ‪Lando, my wife and I each maxed out our Roth IRA's for her first four years of service so we could build up our emergency fund (with the stability of military careers I feel as though the ROTH IRA is a good place to stash an emergency fund that is a very low probiotic of being utilized).






 Now all the money goes into her TSP, but it's our retirement account.

 

**If you are a male military spouse and would like access to this private page, please send a request through Facebook and we'll usher you in as soon as possible.

1141 Views | 63 Likes | 28 Dislikes | 0 Comments


Posted in Macho Money

Top Five Ways To Enter The Military As A Husband

ChrisFields.jpgFellow male military spouse and general provocateur, Chris Field, shares his "Top 5 Ways to Enter the Military as a Husband." 

5) Read. There are any number of "military spouse" books and websites that explain the mechanics and formal structure of the military and military living.  I found that reading as much as I could about the terms, code names and acronyms (i.e., your ability to learn the quasi-language of Militarese) was invaluable in acclimating myself to my new military life. Arm yourself with a basic understanding of such phrases and acronyms as 'PCS' (relocation), 'LES' (her paystub), 'TDY' (a shorter, out-of-town work trip). Just as you would learn a few basic phrases like “Wie geht es Dir?” (How are you?) and “ein Bier, bitte” (A beer, please!) if you were vacationing in Germany, know the basic terminology of your wife's new employer.  I promise you, you will never regret reading too many articles and books on military spouse living.

2162 Views | 71 Likes | 28 Dislikes | 0 Comments


Posted in Male Spouse 101

Acronym Hell - Part 1

Acronym HellA List of Basic Acronyms and Terms for the Rookies - Part 1

Start learning what in the world your wife and her co-workers are talking about today! This is a basic, beginners list of military acronyms (something the military is very fond of creating).

Why Learn?

Let's be honest. You won't make it 6 months without some of this basic communication knowledge.

2185 Views | 91 Likes | 31 Dislikes | 0 Comments


Acronym Hell - Part 2

Acronym HellA List of Basic Acronyms and Terms for the Rookies - Part 2

Start learning what in the world your wife and her co-workers are talking about today! This is a basic, beginners list of military acronyms (something the military is very fond of creating).

Why Learn?

Let's be honest. You won't make it 6 months without some of this basic communication knowledge.

This is the second part of the basic military acronyms and terms list.

1597 Views | 75 Likes | 34 Dislikes | 0 Comments


What is a PCS?

image for What is a PCS?

As a military spouse, there are many acronyms you will hear and use. PCS is one of thos acronyms. The short answer is that PCS = move. Here's a more detailed answer...

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Posted in PCS