Enlisted CG (shout-out all my puddle pirates), married (no kids) E-4 about to put on E-5 (monthly pay is just over $5,000). I have my degree but OCS isn’t an option since I’m colorblind. That being the case, I go back and forth on whether or not staying in is worth it. My wife and I want to have 2-4 kids, either put them in private schools and my wife would work or my wife could homeschool. Is it realistic to expect to be able to do that, save for retirement, and still have money left over? Right now with just my income and her not working (because of circumstances out of our hands), it feels difficult to have money to spend and still save $1,000/month. All input is appreciated!
Posted by Modern_Apatheia
4 Comments
Multiple kids in private school? If she works and you keep promoting it’s possible but not easy. Doing all that why’ll still saving 20% and having money left after all bills is a long shot though. Unless she makes more than you will. Private school is $1k a month a kid or more.
OCS is certainly an option depending on what kind of colorblind, which branch, and which designator you go for. A classmate of mine was colorblind and commissioned into Supply with the Navy.
We were an Enlisted family until recently. Single income, 3 kids, homeschooling the older ones. We’ve always felt very comfortable while still maxing out the TSP and usually 2 IRAs as well.
I am very glad that we maxed out the TSP, my 401k, and 2 IRAs for a few years in our mid 20s before kids. It help us get used to living on less than his salary and it got us ahead on retirement savings so we could dial back on that now.
I would wait until e7