Don’t get into stupid debt like. Keep expenses low. Invest in a TSP and IRA. Invest in some stocks via brokerage. Profit. Even better if you retire.
Play your cards right, and the military can turn you into a millionaire.
byu/InterviewExciting230 inMilitaryFinance
Posted by InterviewExciting230
9 Comments
Especially now that new recruits can get $50k signing bonuses as an 18 year old. So much opportunity that people aren’t aware of
We out here.
It’s really simple, those E-nothings their first enlistment max out their TSP for four or five years. Start from 18-22/23, if that’s all you contributed to your TSP and nothing else, by the time your 60 you’ll be a multimillionaire.
But how can I get a $75k truck if I do that!?!? 😉
But… But… Dodge Charger! 😁
I can’t up vote this sentiment enough! If you do 20 or more, invest consistently in the TSP and IRAs, and take advantage of the various ways the military will pay for your education, you will leave far wealthier than you entered (unless you were already a trust fund baby or some such). Not to mention the VA loan and the value of Tricare for Life. All around a great deal with fantastic job security for the duration.
So much truth here. A pension after 20. TSP matching now for the young bucks. Medical coverage while in and super cheap in retirement. And VA disability on top. I retire soon and we are in a great place financially.
Aren’t you the one who said you can retire with $14million? Focus on your current job, branch of service, and math as well before given advice. All your advice also sounds like single unmarried/childless financial advice. Not saying you don’t have good advice here and there but just watch your audience.
for people that get BAH/BAS yes.
For the B soldier nah.