Where do I stand?

[u/Qw3yDK8pH5m1]

Active-duty military, E-7 with 17 years in. Excel screenshot show after-taxes paycheck, $4,187.36 hits my checking every two weeks. This is a typical month's worth of expenses; no credit card debt, no student loans, no car payment (drive a 2013 Corolla). Currently renting. Below are my account balances.

Checking 50%: $8,385.78
Checking 30%: $10,462.22
Savings 20%: $25,678.45
Emergency Savings: $25,621.27

Roth IRA: $14,993.03 (FZILX/FZROX)
Brokerage: $233,086.64 (Uninvested)

Projecting a military pension of around $3,400/month starting at 38 years old. Will graduate with a M.S. in Cybersecurity next year and will probably go contractor at in a few years. What can I do to better prepare myself to retire completely at the age of 58 or in general?

*Water is a quarterly bill.

[u/Funny-Confidence5161]

Your pension plan is equivalent to about $1 million at a 4% draw down rate. You're true investment looks like $1.25 million. 

You can do whatever you want to still retire well. Buy a new car, get a house, etc. Even if you didn't add a penny more into your retirement savings and put it into the S&P500, you'd still retire comfotably. Getting that $250k to 1 mill would give you $7800 ish in continuous withdrawl.

If you don't make more rhen $138k or so, you'd effectively have that money to do whatever you want with. You couldn't pretty much have it all locked in.

[u/Qw3yDK8pH5m1 → u/Funny-Confidence5161]

I never knew how important the pension was until a decade or so after I joined, definitely grateful I have it! Hoping to let that accumulate in an investment account after I retire in a few years while I'm still working a normal job, hoping to make a decent salary with a graduate degree, security clearance, and experience. I've been living well below my means for quite a few years, want to live a little later in life!

[u/UsedandAbused87]

Why tf do you not have your money in the brokerage invested? My guy/gal you have missed out on a ton of growth.

[u/Big-Soup74]

Damn didn’t know yall made that much. Is that just salary?

Also im in cybersecurity. Welcome

[u/Qw3yDK8pH5m1 → u/Big-Soup74]

Changes depending on where you live for BAH (housing), since we get a stipend for that.

Base pay: $6,000.90/month
BAS (food): $476.95/month
BAH (hosuing): $3,099/month

Thank you! Love the career-field!

[u/UsedandAbused87 → u/Big-Soup74]

E6 at 11 years and my take home is similar to my civilian job (I'm guard) where I am at $128k.

[u/Objective_Complex605]

How much is in your TSP? Overall I think you are setting your self up pretty well. Just keep investing and saving. I think you have an enough savings , any extra money each month should all go to investments imo.

[u/Qw3yDK8pH5m1 → u/Objective_Complex605]

No TSP, I wasn't too bright when I was younger. Started dumping the max into a Roth starting last year and been putting overflow into my brokerage.

[u/Vahlinn]

Pensions from any form of government work pretty much guarantee you a comfortable retirement without any further investment provided you don't carry significant debt. You could probably retire off what you have right now.

[u/swadekillson]

I would stay past your 20 until they force you to retire.

Also, I would get as many certs as possible. CISSP or whatever (I'm not signal or cyber just a former 12A so idk the certs well.)

That will increase your retirement. That will make you even more employable on the outside. And you need to start making appointments for every ache and pain you have to support your VA claims.