Hey everyone,
Just from casually browsing the sub I know you are all much smarter than me.
I am an 37 year old E6 in the Army currently, pinning E7 in the next few months (low-ish OML) and my ETS is coming up January 2025. I've been in for 10.5 years so far and was planning on getting out. However, looking at the retirement numbers for Warrant, that I was going to apply for if I stayed in regardless, looks really good.
I am a 91F, weapons repair guy. Maintenance field doesn't pay extraordinarily well on the outside, especially in New England where home is. Using a mil to civ calculator it looks like I should be aiming to get at least 90K to remain comfortable with how we are living now (Family went back to New England while I finish up).
I neglected the TSP the past couple years, only have $21k in it right now in an L fund.
If I do get out I would be joining the Reserves / NG, but do worry about "losing" the 14 or so years of retirement pay.
Am I wrong in thinking I'm making a bad decision by getting out? I am doing Skillbridge but am trying to get into another industry so I'd essentially be starting entry-level which is worrying.
Sorry for the ramble, but, does anyone have any advice?
Another should I stay or go post.
byu/Molecular_Blackout inMilitaryFinance
Posted by Molecular_Blackout
2 Comments
Do you have a degree? What skills, other than Army specific stuff, do you have? What other industry do you plan on getting into?
Most entry level jobs are not paying 90k, so the BL is have you set yourself up to be in one of the fields that actually does pay that?
My advice is a little more broad. You separate or retire to do something else not to get away from where you’re at (most of the time). So my suggestion is to figure out what you want to do the next 30 years.
Also, keep in mind that if you retire from reserves or guard, your retirement doesn’t kick in until 60. If you don’t know what else to do and you’re behind on money, my suggestion would be to stick it out (as long as your mental health/body can take it).
To put it bluntly, you have not set yourself up for a life outside of the military