| Currently in my seventh month of deployment to Iraq. Working to aggressively pay down all debt prior to redeployment.
Successfully paid off my credit card in full. I had to pull a little from my savings, which is fine since I hate having credit card debt. Additionally, the chances of me actually tapping into my savings account while deployed is pretty low in my opinion.
I plan on making a contriubtion into my non-retirement mutual fund, however, I have not decided on how much I want to invest into it just yet. As my focus is currently set on paying off my car before redeploying, it will probably be only $200-300 that I will put into the account.
The "other asset" column is my total contribution to the Army Savings Deposit Program thus far. I wont be able to attain the full 10% interest rate provided by the program, however, making the contribution for the next five months will allow me to save $9100 + interest and direct it all into my emergency savings account. Goal is to have at least $10,000 by the end of the deployment.
Work has picked up quite a bit unfortunately, so I have not read too much of the "Guide to Investing -What the Rich Invest In That the Poor and Middle Class Do Not!" by my favorite financial author, Robery Kiyosaki. Still motivated to finish it when things slow down a bit again so I can develop a solid financial plan on paper.
Investopedia is still a great website, but I still need to start looking at it again so that I can increase my financial literacy.
Still plan on saving, but holding on to the money for the 2011 IRA contribution until I figure out what I should invest in next. Main thing to keep in mind is asset allocation. Prehaps my next investment should not be as agressive as my other holdings... |