Current O2 in the Army trying to optimize my savings and long-term finance goals
Currently an O-2 working for the Army and unsure if I will get out pre-command, post-command, or stay until retirement. I have tons of financial questions about how to get the most out of benefits and set myself up for life, so any financial advice given is appreciated! But I’m making this post with a focus on best methods for saving money is HYSAs/retirement accounts. Also been told to buy a duplex using the VA loan at my current/next duty station and start building real estate assets.
Here’s my current savings situation:
Roth TSP: Putting in 10%, just started getting the 5% match from the Army. Sitting on around $7k in there with a mix of S, C, and I (following crown tribe on fb, iykyk)
Edward Jones Roth IRA: Around $18k sitting in there, but I’ve had this account longer than the TSP, opened in college. It’s financially managed and I throw $250 in there each month, currently 12.65% rate of return in the past year. Planning to increase monthly contributions next month. Tho it’s financially managed, I’m piggybacking off my parents account, so I don’t pay much in management fees.
Marcus HYSA: Around $14k in emergency savings. I used to throw money in there every month, but I stopped as I figured $14k is good enough for emergency money. 3.40% APY on that.
Any recommendations to change what I’m currently doing or shift money around? Anything I’m leaving on the table in regards to benefits I’m unaware of? I also have Robinhood Gold so I was thinking of opening an IRA with them for the 3% match, instead of increasing my Edward Jones account contribution. But then I’d have to manage the individual investments within the account which I’m not super familiar with. I guess I would just throw into the an index fund like the S&P500