Retire after 20 years or go private after 5 years?
Just a hypothetical question - I'm pondering different career paths - I just like to think about stuff like this. Just looking for some wisdom and advice.
What would you rather do and why?
- Get out of the Army after 5 years and make $120,000 / year.
- Stay in the Army for 20 years - retire at $42,000 / year (todays pay)
What would you rather do and why?
- Get out of the Army after 5 years and make $120,000 / year.
- Stay in the Army for 20 years - retire at $42,000 / year (todays pay)
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Right now there is money to be made. If you are single, and have the skills, go make the money! You can always go back to the army\marines after the money dries up... 0 -
Are you talking about joining a PMC? 0 -
Not single. If by PMC you mean para-military-... I don't think so, but I guess it's possible because lots of jobs are in Iraq. 0 -
obviously youre heart is isnt in the right place for you to stay in the army.
dedicated men would never have to ponder this.
its about SERVING not GETTING.
one is for country, one is for self. you should be asking yourself if your country needs me another 15, not wonder how much i can get in the private sector.
the good news is you did your minimum time for country. you should be proud. you got your dd214. bravo.
other than that, can you bet your health and prosparity will last another 20 years? what happnes when you start to break down at 40/50? or lose your job, because someone else a little higher is thinking the same way you are by cutting your job, so they can make more?
you might be glad you did your 20 and got SOME benefits...rather than to have none and out of work.
think about it. only you can decide.
the chief has spoken.0 -
They make that much? 0 -
$42,000 a year? You plan to retire as a light colonel? I retired at 21 as an E-7 and draw less than 1/3 of that including a disability. 0 -
I just arbitrarily pick O5, wishful thinking that I would make to to that if I stayed in for 20 years. 0 -
If you're doing it for money, you're going into the wrong line of work......
Just my 2 cents0 -
The military is most likely a lot like teaching, the people in it are there because they really want to serve and are not much interested in money. This is a good thing because there is not much money to be made in either profession, they are both all about public service and a duty to your country. My wife has been teaching for over 20 years and even though she is an associate university professor it is shocking to me how little she is paid since her level of education is equal to (technically higher than) my own (we both hold doctorates, although hers is a PhD). If you are already thinking about money I suggest that you steer well clear of the military or teaching as careers but if you are honestly interested in serving the needs of America first (and not thinking about yourself) then by all means go into the military. One of my partners at our firm retired as a Lt. Col. from the Corps of Engineers after serving 21 years and he looks back on his time in the Army as well spent because the military put him through school all the way to his post graduate degree as a civil engineer. This same level of education for me cost my father over $30K back in the 1970's! Originally my partner was only interested in earning his BSCE Degree through the ROTC program because his family was dirt poor and there was no other way for him to earn a college degree, but he soon discovered that he really liked the Army and decided to make it his first career. He was also able to set aside and save huge amounts of money which he invested wisely and used to pay his share of the buy-in costs as a partner in our firm. If you are not totally sure about a career path then a few years in the military will not do you a bit of harm and may open a few doors for you. On the other hand if you are highly focused and have a career plan I would skip the military and start your career ASAP. 0 -
quote:Originally posted by ElMuertoMonkey
Are you talking about joining a PMC?
Private Security corp. ???0 -
To answer honestly there are just too many variables to know now what will happen in five years. I can tell you that thinking 5 years of military service will not get you a job making $120K. It doesn't matter if your a pilot, intel., or an engineer. You're not going to walk out the door and into corporate america at that pay rate.
Military expierence is great, a degree is great, but you won't have any "industry expierence".
If I recall correctly you were thinking about joining the Army and becoming an officer in the intel. field. There are jobs out there, but a clearance alone doesn't automatically make you special. Take a look at this link. If you are banking on a security clearance to make you bundles of money.
www.clearancejobs.com/security_clearance_jobs_salary_survey.pdf
And although clearly some here will argue with you, you don't have to wear a military uniform to serve your country. So in the end shop around and you decide. Always be ready to get out incase of an injury, or some strange illness (diabetes for example). But don't do your time with the attitude that there is a golden egg on the other side waiting for you.0 -
Did 30 in the Navy and retired. Went to work for a defence contractor.
When hours were tight at least I had my retirement check to help. More
than one of my co-workers wished they'd finished at least 20 so they
could have some kind of financial support. You retire at 20, you still
have time and skills to get the big bucks. Just my thoughts.0 -
Do your 20 then retire. had a cousin did it then went to work
for ford-philco in guam there for several years and retired again.
he made a lot of money that way.he was called back as a consultant
several times.0 -
Do the 20, and then you can do anything you want to do.
Army retirement isn't the best, but it sure beats a lot of retirement plans in the civilian world; especially with all the pension plan problems there are these days.0 -
Another vote for do your 20!
I wish I had been able too. I was medically discharged after 3. I do get paid good though ($33k VA comp and another $17k SSD) so I guess I can't complain.0 -
quote:Originally posted by sabb0007
I just arbitrarily pick O5, wishful thinking that I would make to to that if I stayed in for 20 years.
How long have you been in? Sorry to burst you bubble, but if you've been in for 3 and you're still a PFC/E3, you ain't making LTC in 20! Just ain't gonna happen. It would be pushing it for a new CPT/O3 at three years to make LTC in 20.
Just my two cents, by the way I made SFC/E7 in under 10. Your MOS plays a huge part.0
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