Jul 15th, 2019 | Money Podcast

401(k) CONTRIBUTIONS AND HURRICANE INVESTING Many interesting emails since our last money episode! What do you do if your company match puts you up against the annual contribution limit? What's the best way to buy a used car? What kind of mutual funds should you invest in on a low military salary of $23,000? If your credit score has gone all the way up to 818, is there anything you can do to get it up to 850? And plenty more!

Tips on Maximizing Your 401(k) Match

Social media is spoiling Millennial and Gen Z finances, survey finds

Money questions? Topic suggestions? Let's hear 'em: tom@blowmeuptom.com.



Submitted by Nobody of note on

Here's hoping the guy who asked about the TSP reads this comment. For general awareness of the audience, the TSP is a plan for military members in which they can agree to a slightly reduced pension plan while recieving matching contributions to a 401k plan. You need to serve for 20 years before you qualify pension so this is a great way for people who don't stay in for that long to leave with some kind of retirement savings, where before they left with nothing but what they saved on their own.

I'm an officer in the military and I tell all the troops I work with to do exactly what Tom said. No traditional contributions, Roth only, and max out the matching contributions the military will offer. As far as the fund options, many people don't like the Government option but it performed better than all the other funds last year so that's something that you just need to stay updated on and make an informed choice.

Submitted by MrClancy on

How is it going with you and them? How has your relationship with them changed since moving off on your own now? Throw it in your podcast sometime please.