6 Month deployment savings challenge $54,000 – military ways to make money money manual

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The typical TSP or 401k contribution limit is known as what are some ways to make money the “elective deferral limit.” for 2016, this limit is $18,000. However, there is an additional limit known as the “ annual addition limit.” for 2016 this amount is $53,000. 2017 should have similar contribution limits with a possible slight what are some ways to make money increase. We should find out if there is an increase in what are some ways to make money october 2015.

To maximize the tax efficiency of CZTE pay, my goal is to contribute the first $18,000 I earn while deployed into the roth TSP and what are some ways to make money then any additional pays (base pay, hazardous duty, hardship duty location, hostile fire pay) into the traditional TSP. With my six year time in service O-3 base salary of $5540, plus some extra pays, I should be able to contribute at least $5500 per month to the roth TSP until it’s maxed out. Once the roth TSP is maxed, I will switch my contributions to the traditional TSP.

The other major investment to focus on while deployed besides what are some ways to make money the TSP is the savings deposit program. The SDP offers deployed servicemembers a guaranteed 10% return on their investments up to $10,000. It continues to pay while you are deployed and up what are some ways to make money to 90 days (3 months) after you return from deployment. On a 6 month deployment, you could earn $750 in interest.

Since you can make contributions from your savings to the what are some ways to make money SDP (unlike the TSP, which you must contribute to from your paycheck), I recommend saving the $10,000 before you deploy so you have it ready to what are some ways to make money go. One catch is you can only contribute the basic pay what are some ways to make money you’ve earned in the combat zone and must wait 30 what are some ways to make money days in the CZTE area before contributing. However, when you have the cash set aside, you can max out your roth TSP contributions while you what are some ways to make money wait the 30 days to contribute to the SDP.

Also, don’t forget that your roth IRA contributions will go in what are some ways to make money untaxed, grow untaxed, and distribute the earnings and contributions untaxed after age 59.5. If you are receiving BAH, you cannot contribute that amount to the TSP. If you do not have a mortgage or rent payment what are some ways to make money due back home, contribute all of your BAH to your roth IRA. BAH is always tax free as it is an untaxed what are some ways to make money allowance. Increase income

You will probably earn $3.50 per day in per diem, depending on the combatant command you are deployed to (looking at you, CENTCOM!). As a technique, you may just want to wait until the end of what are some ways to make money deployment to collect your per diem and other special pays what are some ways to make money like family separation allowance. Sometimes it’s better to receive a lump sum at the end what are some ways to make money of the deployment and invest it or spend it on what are some ways to make money a well deserved vacation.

My wife is planning on moving closer to her family what are some ways to make money while I’m deployed and either utilizing family guest bedrooms or renting what are some ways to make money a small efficiency apartment near her work. She can still telecommute but it’s nice to be close to her coworkers and family. Her savings rate will probably drop a bit from the what are some ways to make money aggressive 90% she maintains now, but I suspect she’ll still be above 80%.

An additional personal goal is to go 30 days without what are some ways to make money spending a dollar. In the desert this can be pretty easy as food, lodging, and entertainment is provided for. However, AAFES is still there and amazon does deliver (although not in two days) so there are temptations to spend money while deployed. I think 30 days is a good initial goal to what are some ways to make money just let the savings pile up. VPN while deployed

One other tool I will be buying before I leave what are some ways to make money for deployment is a VPN, or virtual private network. Last time I was deployed I purchased PIA or private what are some ways to make money internet access. For $6/month you can safely browse the web without nefarious middle what are some ways to make money eastern states snooping on your private data. It also serves well as the best VPN for torrenting what are some ways to make money I ever used.

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