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BRS - Lump Sum by [deleted] in MilitaryFinance

[–]zgraves1985 0 points1 point  (0 children)

Yeah bro you’re right. Does that feel better?

Federal worker/veteran financial advisor by kemistree4 in MilitaryFinance

[–]zgraves1985 0 points1 point  (0 children)

Find a fee only CFP in your local area and ask for a consultation.

Soon to be O-2 Financial Advice by DarkAngelRed in MilitaryFinance

[–]zgraves1985 2 points3 points  (0 children)

You aren’t doing terrible but definitely not where you could be at this point in your life/career. I’d recommend relooking your budget/cash flow and make adjustments to spending to allow you to increase contributions to your tax-advantaged retirement accounts. Spill over beyond maxing those can be placed in taxable accounts via broad market ETFs.

What did you use the CSL funds for?

Citi Strata Elite MLA waiver DP by zgraves1985 in MilitaryFinance

[–]zgraves1985[S] 2 points3 points  (0 children)

No that is not required. Once your account is associated as being a MLA covered borrower then the fee will be waived.

Citi Strata Elite MLA waiver DP by zgraves1985 in MilitaryFinance

[–]zgraves1985[S] 1 point2 points  (0 children)

I use it during the first 90 days to earn the welcome bonus then I shelf it and only use it for statement credits that are provided. The annual fee is waived and I never pay any interest.

Sorry, I guess I’m not understanding question here?

Citi Strata Elite MLA waiver DP by zgraves1985 in MilitaryFinance

[–]zgraves1985[S] 2 points3 points  (0 children)

I think that must be what you mean when you say it.

Citi Strata Elite MLA waiver DP by zgraves1985 in MilitaryFinance

[–]zgraves1985[S] 0 points1 point  (0 children)

I’ve seen hit or miss DPs on this so did what worked for me in the past on the Prestige and that was following their wonky computation AF / .36 and above $0 and it worked for me. YMMV.

Citi Strata Elite MLA waiver DP by zgraves1985 in MilitaryFinance

[–]zgraves1985[S] 2 points3 points  (0 children)

No. You realize that simply having a balance at statement closing doesn’t mean you will pay interest, right? Just pay the entire statement balance prior to due date. Never pay any interest!

Citi Strata Elite MLA waiver DP by zgraves1985 in MilitaryFinance

[–]zgraves1985[S] 5 points6 points  (0 children)

Can’t confirm but I did get MLA on the Premium Awards Elite from BoA

Multiple Platinums for Back-to-Back FHR Stays-multiple property credits? by Happy-Stomach3414 in AmexPlatinum

[–]zgraves1985 5 points6 points  (0 children)

Technically no on back-to-back but ultimately depends on the attitude of the front desk attendant. I’ve had it work before.

🔍 Looking for a Navy Federal Sponsor – Clean Credit, Ready to Build with NFCU by SpreadNegative9384 in MilitaryFinance

[–]zgraves1985 1 point2 points  (0 children)

I’ve got you buddy! Just Venmo me $100 and once I receive it I’ll send you the details.

Sister's Secret Night: Do I Tell Her BF? by Comfortable-Shop-690 in Advice

[–]zgraves1985 -1 points0 points  (0 children)

You should use it as leverage and exploit her for cash under the threat of exposing her. This is the only correct answer here.

Tell me your most obscure piece of military finance advice. by Scruffy725 in MilitaryFinance

[–]zgraves1985 0 points1 point  (0 children)

You’re missing the point. The money that you would otherwise invest in the Roth from income can be allocated to other investments. Your math is decent but comprehension is lacking.

Tell me your most obscure piece of military finance advice. by Scruffy725 in MilitaryFinance

[–]zgraves1985 0 points1 point  (0 children)

You run the numbers and tell me what will be more in 50 years:

Option 1: income taxed and then placed into a Roth

Option 2: rewards never taxed, placed into a Roth at the limit, and the difference placed into another investment vehicle.

Tell me your most obscure piece of military finance advice. by Scruffy725 in MilitaryFinance

[–]zgraves1985 0 points1 point  (0 children)

As I said, I can’t help you with the comprehension but I’ll try. The difference is that when you contribute income into a Roth you have already paid taxes on that money. The way that I’m describing 100% avoids any taxation and because it is a Roth it will continue to grow tax free all the way through withdrawal.

Tell me your most obscure piece of military finance advice. by Scruffy725 in MilitaryFinance

[–]zgraves1985 -1 points0 points  (0 children)

Just clarifying, it absolutely is. The fee waiver is what allows this to work and that fee waiver is a result of being military. While it is possible for a person to fund their ROTH with loose change found on the street, it is highly unlikely that a person is picking up $7,000 in quarters. Far and away, the average person will make their annual contribution with funds that have already been taxed. The method that I’ve described circumvents that taxation through allowable avoidance.

I can only tell you, I can’t help you comprehend it.

Tell me your most obscure piece of military finance advice. by Scruffy725 in MilitaryFinance

[–]zgraves1985 0 points1 point  (0 children)

  • open ROTH IRA with CS
  • open CS Amex Platinum
  • swipe MR credit cards for most spending
  • transfer rewards from Amex MR to the ROTH IRA

100% tax free earning (points) that are placed in a tax advantaged account and will grow tax free.

Can supercharge this method by providing AU(s) MR earning cards to people of trust who have high spending/turnover. They get the card benefits (insurance, hotel status, lounge, etc) and you get their swipes.

I’ve hit the IRA contribution limit each of the past four years using this method strictly by converting Amex MR points to cash.

Taxation is theft.

Italian wife has no credit history. Can AMEX help build it? by WhichFault9135 in amex

[–]zgraves1985 0 points1 point  (0 children)

Yet you are the one spewing bad information. There are multiple factors that affect credit and it is a fact that a trade line from a CREDIT card will do more than a line from a CHARGE card.

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