Free Ebook.

Enter your email address:

Delivered by FeedBurner

« Help a Reader: Tax Accounting for a Bonus | Main | Two Books that Will Change Your Financial Life »

January 17, 2014


Feed You can follow this conversation by subscribing to the comment feed for this post.

Be careful of overfunding the 529, I would add more to savings and retirement and scale back the contributions to the 529. What is your retirement goal as far as spending and asset accumulation?

I found your profile to be very interesting. It parallels my own to some extent. However I retired at just about the same time that you graduated. My career was all in Aerospace and during my time it was driven by big government contracts as a result of the Cold War. Fortunately you appear to be in the private sector that is much more stable. I retired , with a nice Golden Handshake, just after the end of the Cold War, so my timing happned to be just right.

You are a long way from retirement and no doubt extremely busy at work so you don't have the time to get deeply into active investing styles, but that could come after you retire if you are interested. With your engineering background you would find that investment techniques are not that complicated at all. With the right techniques it is possible to minimize your drawdowns while obtaining above average returns. IRA accounts are great in that you can make big profits and have the taxes deferred until you turn 70 when you have to start making annual minimum required distributions.

Whatever you do, keep your wife happy. You must avoid a divorce at all costs as it would throw a huge monkey wrench into your plans and have a devastating effect upon your son's future.

Well done, #10, and thanks for sharing. Good luck getting that expert designation.


IT security is a great place to be in a comp and you've moved up nicely. Good job.
With your experience you could likely get a chief security officer role at a smaller org. It might be worth your time to get an offer and see if your comp would counter. CHeck LinkedIn or glass door to see how much CSO roles are earning. My guess is that they start in mid 200k at a medium size org and here are plenty of comps in nj that would be options including all the pharma in south jersey.
It wasnt clear to me if had an ira for your wife. If not, you should definitely open one. I would stuff the retirement accts instead of 529 because of the way colleges calculate aid, unless you are doing it for the state tax break.

Don't wait for the company to make you better. Make yourself better. Priceless and well stated. GT

FYI, the discussion is about a career at the nation's largest defense contractor; Lockheed Martin. The interviewee should feel fortunate as his organization has had numerous significant layoffs in the past several years and closed several sites. His salary is not likely obtained at most other employers. I strongly suggest that he max out his savings rate and strive to have the ability to retire early.

The comments to this entry are closed.

Start a Blog


  • Any information shared on Free Money Finance does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser. Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. All posts are © 2005-2012, Free Money Finance.