Today, I answer this question from a listener:
Joshua- Fan of the show and a Naval Officer. I have some questions on overall investing strategy. I have close to 17 years in the Navy and will likely retire at 20 with a full pension (about $55k/year before taxes), currently have $440k in retirement savings for my wife and I split between Roths and TSP, have over $140k in college savings for my 2 kids (8 and 10 year old, plan on also transferring my GI Bill which will essentially pay for one of their college educations), and have about $30k in taxable accounts. We are selling our house in Norfolk, VA this year– been a rental for 5 years but we are moving from Tampa to Jacksonville where I will take Command of a Destroyer there.
So- my question– I am looking at getting into real estate investing and slowing down retirement savings over the next 5 years (from about $25k/yr to $12k– maxing out Roths and minimum to TSP). Curious to hear your take on my overall situation and real estate investing writ large. Ideally we’d put about $40-50k into things this year– either buy and hold type rental properties or a flip- and then snowball any earnings plus about $30k annually over the next 4 years until I retire to setup passive income sources. Thanks!
- Please support RPF on Patreon! www.radicalpersonalfinance.com/patron