Just joined the Navy.... What to buy with my $20,000 sign on bonus?
- Thread starter .45Guy
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you can withdraw from a ROTH IRA when you buy a HOUSE...just so you know.
put 4k into a ROTH IRA, and put the rest into a traditional IRA. Call Vanguard funds and tell them your target retirement age and they'll manage the whole thing for you. if you plan to retire in year 2050, for example...they have a mutual fund called "Target retirement 2050"... and they're run by folks with phd's in Economics who actually know where to invest your money....and they get paid to do it all day long.
not too mention... all you have to do is call them and write a check. They'll keep track of everything for you until you want the money...just like a bank....except that your money will DOUBLE every 7 years or so.
put 4k into a ROTH IRA, and put the rest into a traditional IRA. Call Vanguard funds and tell them your target retirement age and they'll manage the whole thing for you. if you plan to retire in year 2050, for example...they have a mutual fund called "Target retirement 2050"... and they're run by folks with phd's in Economics who actually know where to invest your money....and they get paid to do it all day long.
not too mention... all you have to do is call them and write a check. They'll keep track of everything for you until you want the money...just like a bank....except that your money will DOUBLE every 7 years or so.
Thanks for all the advice guys, and I suppose I should be flattered you'd think I could piss that much away on firearms alone!
Anyway, I'm off to get my last below the sleeves tattoo done. Though right now I'm thinking the nicest Garand I can find and a couple thousand rounds of HXP62 on en-blocs.....
Anyway, I'm off to get my last below the sleeves tattoo done. Though right now I'm thinking the nicest Garand I can find and a couple thousand rounds of HXP62 on en-blocs.....BADSBSNF81
Member
Buy yourself some future income. If you don't have one, open up a Roth IRA account and deposit the maximum you can (probably 4K) every year until you run out of the bonus money. Do it by allotment, you'll never see it, so you won't miss it. Always pay yourself first, pay your bills next and then with what's left, if you wan't, you can buy "toys".
JamisJockey
member
I'm presuming you're relatively debt free....
Spend a couple grand on yourself. Maybe get a gun or two with it, but depending on your MOS you might spend alot of time at sea, which means little enjoyment time with those. Get a good laptop and some games, maybe a nice IPOD...things to keep you company on ship.
Then invest at least 10k of the rest. Put a couple grand in a rainy day fund, like ING direct, and the rest in something you can't touch until you're old and grey.
Spend a couple grand on yourself. Maybe get a gun or two with it, but depending on your MOS you might spend alot of time at sea, which means little enjoyment time with those. Get a good laptop and some games, maybe a nice IPOD...things to keep you company on ship.
Then invest at least 10k of the rest. Put a couple grand in a rainy day fund, like ING direct, and the rest in something you can't touch until you're old and grey.
Mutual funds.... as much as you can. Do some research, find some "old timer" funds with a proven track record and invest. I wouldn't IRA it because if you do want to spend/reinvest some of it 20 years from now the taxes will eat it up. Budget monthly for a significant amount to invest in an IRA.
to thoes recomending mutual funds...
I work for a fund company… and I refuse to own a mutual fund except these two:
The Bruce Fund and The Vice fund. I do not work for either of these companies.
http://mutuals.com/
http://www.thebrucefund.com/
That said, unless you are a sophisticated investor, mutual funds are a good strategy.
These are funds that are mostly under the radar, but are top notch.
The Bruce Fund is a small Large Cap fund that is run by a Father Sun team and has a great track record and is consistently ranked in the top 10 funds in the country by Morning Star.
The Vice Fund I love! It mainly invests in Booze, Tobacco, Gambling, Porn, Defense contractors, etc… You know those evil things that we will always use weather times are good or times are bad. People are always going to smoke, drink, gamble, watch dirty movies, and fight wars (or gear up for the next war), etc.
Check them out
I work for a fund company… and I refuse to own a mutual fund except these two:
The Bruce Fund and The Vice fund. I do not work for either of these companies.
http://mutuals.com/
http://www.thebrucefund.com/
That said, unless you are a sophisticated investor, mutual funds are a good strategy.
These are funds that are mostly under the radar, but are top notch.
The Bruce Fund is a small Large Cap fund that is run by a Father Sun team and has a great track record and is consistently ranked in the top 10 funds in the country by Morning Star.
The Vice Fund I love! It mainly invests in Booze, Tobacco, Gambling, Porn, Defense contractors, etc… You know those evil things that we will always use weather times are good or times are bad. People are always going to smoke, drink, gamble, watch dirty movies, and fight wars (or gear up for the next war), etc.
Check them out
Sharps-shooter
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Buy gold. It usually doesn't lose its purchasing power unless an economy gets really, really, bad. At which point it can be melted, molded, and used much like lead. It's a solid investment, so to speak.
When you're ready to settle down, buy an urban tactical fortress (a house), with the money from the gold as a down payment. if there's some left over, make sure you have a 12 gauge pump, an ar-15, a .22 rimfire rifle, a scoped 30-06, and a handgun in .45 acp or .9mm.
I don't know, it's your money. do whatever you want with it. One of the best investments anyone can make is to buy themselves a good job (get a marketable degree or start a business). This can impact quality of life more than just about any other investment you can make.
When you're ready to settle down, buy an urban tactical fortress (a house), with the money from the gold as a down payment. if there's some left over, make sure you have a 12 gauge pump, an ar-15, a .22 rimfire rifle, a scoped 30-06, and a handgun in .45 acp or .9mm.
I don't know, it's your money. do whatever you want with it. One of the best investments anyone can make is to buy themselves a good job (get a marketable degree or start a business). This can impact quality of life more than just about any other investment you can make.
Vern Humphrey
Member
With all due respect, don't spend a penny! Go up on the internet and pick some good mutual funds (fidelity.com is a good place to start) and sock that money away. By the time you're ready to retire, you'll have enough money to live in style.
The most expensive gun I can think of that I want is an AR-10. I guess I'll have to try harder 
.
Investing is always a good idea, and if you don't know exactly what guns you want you probably shouldn't be trying to come up with ways to blow money on guns ... but all that aside, I think it's always a good idea to get either fun plinking-type stuff or stuff that may get banned ... or maybe gear that would make your general shooting expeditions better.
So, with that in mind...
Fun stuff: Like one or two nice stainless Mark IIIs with Ultra-Dots.
Stuff that might get banned: AR-10, AR-15, or whatever cool rifle you want and high-cap mags for it ... also high-cap mags for stuff you already have, maybe some 33-round Glock mags
Fun stuff that is also stuff that might get banned: 10/22 folding stocks, 10/22 high-cap banana clips (get good ones like the TacticalInc.com ones)
General gear: If you haven't gotten a nice pair of $100-$250 electronic ear muffs, people always say "I wish I would've gotten these 10 years ago." Maybe get some reloading equipment (I wouldn't invest too heavily in ammo since people seem to think the price will be going back down some before too long).
If I had the money I'd get a couple Aimpoints, but that's not exactly something that's going to go up in value and it's not something that's going to get banned.
.Investing is always a good idea, and if you don't know exactly what guns you want you probably shouldn't be trying to come up with ways to blow money on guns ... but all that aside, I think it's always a good idea to get either fun plinking-type stuff or stuff that may get banned ... or maybe gear that would make your general shooting expeditions better.
So, with that in mind...
Fun stuff: Like one or two nice stainless Mark IIIs with Ultra-Dots.
Stuff that might get banned: AR-10, AR-15, or whatever cool rifle you want and high-cap mags for it ... also high-cap mags for stuff you already have, maybe some 33-round Glock mags
Fun stuff that is also stuff that might get banned: 10/22 folding stocks, 10/22 high-cap banana clips (get good ones like the TacticalInc.com ones)
General gear: If you haven't gotten a nice pair of $100-$250 electronic ear muffs, people always say "I wish I would've gotten these 10 years ago." Maybe get some reloading equipment (I wouldn't invest too heavily in ammo since people seem to think the price will be going back down some before too long).
If I had the money I'd get a couple Aimpoints, but that's not exactly something that's going to go up in value and it's not something that's going to get banned.
The country is going broke - among other things paying bonuses such as that one. They are actually printing the dollars at an alarming and accelerating rate.
In view of that, the "conservative investemnts" suggested above are nowhere near as safe as they are touted.
Invest the money into gold coins - maple leaves, eagles, krugerrands or sovereigns. Put them into your deposit box and concentrate on coming back alive and healthy.
miko
In view of that, the "conservative investemnts" suggested above are nowhere near as safe as they are touted.
Invest the money into gold coins - maple leaves, eagles, krugerrands or sovereigns. Put them into your deposit box and concentrate on coming back alive and healthy.
miko
22-rimfire
Member
If it were me, I'd buy 5 gold eagles (about 25%) and put the rest in mutual funds, (probably spread between three funds). Save for a house and a rainy day. There are always rainy days in one's life and it's nice to have 20K+ sitting in the bank. It' too easy to blow 20K even on ebay on smaller items over a period of time.
Zen21Tao
Member
Buy a bunch of lipstick and dresses to wear for the marines you work with.... (just friendly ribbing from a former Army soldier).
huntsman
Member
Buy gold & silver, brass & lead ; the real precious metals
blitzer0101
Member
Been on Glock Talk too, what did they recommend?
BigRobT
Member
Damn, too bad I'm not physically qualified for re-enlistment. Of course, my retirement check adds up after a while......
As with most of the others, I would take a small portion and have fun with it and then stick the remainder in something that will actually net a return on your investment. There are always "rainy days" when that bonus just might come in handy. I would buy a house IF you found a REALLY good deal. Right now, in many areas, the housing market is making a strong readjustment due to the inflated prices over the last decade. $15K ain't real hard to piss away.
As with most of the others, I would take a small portion and have fun with it and then stick the remainder in something that will actually net a return on your investment. There are always "rainy days" when that bonus just might come in handy. I would buy a house IF you found a REALLY good deal. Right now, in many areas, the housing market is making a strong readjustment due to the inflated prices over the last decade. $15K ain't real hard to piss away.
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