Best Military Retirement Investment Options to Choose From
For military personnel, this might be the right time to take a look at the military retirement investment options. Most of the time, they have no time to take care of their finances, especially to plan their future. Other than that, service members always feel insecure to make a final decision for their financial condition. For them, the options are too many, such as retirement plans, mutual funds, stocks, and so on. They also get exposed to tons of insurance products and mortgages.
Among those many options, a few options stand as the best things to pick. Knowing the best options will save you from doing too much guesswork. So, what kind of investment should you do after retiring from the military?
3 Best Military Retirement Investment Options
1. Federal Thrift Savings Plan
As military personnel, you are eligible to take aside some money from your paycheck automatically every month. Later, you can invest the money in several options such as mutual funds and tax-deferred growth. This savings plan is made for funding your needs you can spread the money on almost any kind of bonds and stocks.
2. U.S. Savings Bonds
Investing in U.S. savings bonds is another thing you can do. If all you need is to keep your money sage, buying the saving bonds would be a good decision. The transaction can be done through payroll deduction. Keep in mind that this kind of bond gives rates that depend on inflation. The changes occur every six months. Compared to a bank account, you can get more by investing in U.S. savings bonds.
3. Gold investment
There is another option you can pick to secure your money in the long run. Gold investment is such a good thing to consider. As its name suggests, you will put your money on gold. However, it doesn’t need to be physical gold in the first place.
Also, it’s going to be difficult to store physical gold in a bank when you are retired. Thus, you can purchase gold mutual funds and ETFs instead, as part of the military retirement investment options.
You do not need to worry about extreme fluctuations just like how stocks do. Gold also has a stable price over the years. Even though the price may decrease in the short-term, gold is an excellent investment instrument for a long-term goal.
Why should I invest in gold?
There are a few ways you can invest in gold. According to experts and investors, buying gold funds and ETFs is the best decision among other options. Even though some people prefer to buy gold coins and bullion for their physical availability, those options require you to pay for storage costs. The fluidity of physical gold is not as flexible as gold-oriented stocks. Thus, buying mutual funds and ETFs are a better option.
If you are a military member who needs a decent investment after retiring, setting aside your money to buy gold mutual funds is a good idea. And this is the end section of the military retirement investment options.