You have set yourself up to build wealth

  • Dave Ramsey

    Dave Ramsey


Dear Dave,

I知 single, and I値l be a pilot in the military for the next ten years. I知 also debt-free, have a fully funded emergency fund, and I知 saving 15 per cent of my income for retirement. After my military days are over, I plan to work as a commercial pilot. I致e done the math, and I have about $20,000 a year to give, have fun with and build wealth. My question is about wealth building. When it comes to rental properties, I know you don稚 like the idea of being a long-distance landlord. Since I知 in the military, there痴 a good chance I値l move around a bit. What should I do?

Rachel

Dear Rachel,

First, thank you for your service to our country. And, wow! You池e in a tremendous position financially and career-wise. You致e got a great future ahead of you as a pilot in the military and after, plus you致e followed my plan item by item. You致e got so many options, and you can make a difference in your community and in the lives around you right now by giving.

When it comes to wealth building, I hope you致e already taken advantage of the TSP, or Thrift Savings Plan, which is kind of the military version of the private pension fund. For wealth building beyond that, I壇 get with a good investment pro one with the heart of a teacher and dive into some growth stock mutual funds.

You could have a lot of money piled up just by the end of your military career. Who knows? You may even be able to buy a nice home with cash when you leave the service. Beyond that, you may be able to settle into some real estate and pay cash for those investments.

You are one cool, smart lady, Rachel. Congratulations on setting yourself up for a wonderful life one where you can live and give like no one else!

Dave

Dave Ramsey is CEO of Ramsey Solutions. He has authored seven bestselling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 16 million listeners each week on 600 radio stations and multiple digital platforms. Follow Dave on the web at daveramsey.com and on Twitter at @DaveRamsey.

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Published Aug 8, 2020 at 8:00 am (Updated Aug 7, 2020 at 7:38 pm)

You have set yourself up to build wealth

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