Debt? Gone. IRA? Funded. Now what?

[dpb]

I recently opened up a Roth IRA through USAA and contributed $10,000 (for 2010 and 2011, respectively). I'm 23 years old, military, with a target retirement date of 2050. Monthly income is $3,284.44 pre-tax, and $2,977.70 after.

I would like to contribute to the Thrift Savings Plan(401k), but I don't know what percentage is reasonable.

I also have $15,000 in a savings account. I would like to keep $5,000 for an emergency fund and to cover some purchases.

Any investment ideas?

[bjl584]

If there is a match on the 401K, then you should invest at least up to it. Anything beyond that is at your discretion, but you should be striving to save at least 20% of your income for retirement. If USAA offers taxable brokerage accounts (which I'm guessing that they do) then you may want to open one up and buy into some individual stocks and funds.

[dpb]

If there is a match on the 401K, then you should invest at least up to it. Anything beyond that is at your discretion, but you should be striving to save at least 20% of your income for retirement. If USAA offers taxable brokerage accounts (which I'm guessing that they do) then you may want to open one up and buy into some individual stocks and funds.

There is no match for military personnel (only for civilian federal workers).

[snshijuptr]

You should aim to save a total of 30% of your income (when your young and used to living on nothing this is fairly easy). This 30% should be split between Retirement and other goals. A minimum retirement (which a continually funded Roth at your age would provide) is a great start. After that make a list of your goals. Want a car? Save the cash. Want a house? Save a down payment, etc, etc ,etc. After that you can put the rest away into retirement.

For a great way to estimate your maximum retirement needs check out FIRECalc: A different kind of retirement calculator