Does it really pay off in the end to retire from the Army?

I used one of those online calculators and just for fun i plugged in that i served 20 yrs E-8 when i retire and my year of retirement is 2029(i know its a long ways off) It said it would be making 4000+ a month, when i retire from those credientals is that true? does it pay off to serve 20 years

Public Comments

1. Did you do the math calculating the amount you contribute? It's zero! That's a great return! You get basically 50% of your base pay (there is a little bit of math on that number, but close enough) with no contribution on your part, and if enlisted you may be only 38 years old! You can go work part time and enjoy yourself. Of course, if you're married with kids you'll be looking for work, but it's still a great deal!
2. What it doesn't take into account is your age upon retirement. If you join the army at 18 you would retire at 38, then you start your second career, work till you're 60-65 and then retire again. 2 retirements, 2 checks. Now, let's say that second career is with the federal government, if that's the case those 20 years in uniform would also count towards your second retirement. Then there's the medical benefits. So, yes, it does pay in the long run.
3. Yes. The retirement pay is kind of fuzzy because there will be pay raises, but also inflation by the time you retire. It isn't just the money. A HUGE benefit is that when you retire, your health care is covered for life. You also have access to PX and Commissary (not a huge benefit, depends on where you live); military recreation facilities (compare golf course fees in Hawaii for private and military courses). You also retire very young which allows you to start a second career.
4. Twenty years from now that figure of $4000.00 will be much higher, plus if you get a college degree while serving that will add to you resume. My nephew just retired after thirty years in the Navy. He gets his retirement check every month and has walked right into a very high paying HR position at a nationally know major corporation. Add in all the benies from the VA and he is sitting very pretty. Sucker just paid cash for a new fully loaded Cadillac STS.
5. If you can play your cards right, take advantage of any educational opportunities while you are in it can really be worth it. With the way my husband is going now, he will retire at 38 with a masters if not his phd, no school debt and 50% of his base pay plus medical and dental for the both of us. Doesn't sound to bad to me especially in this economic climate. It's worth thinking about. :-)
6. Oh ya you get a good retirement check and then you can go work at another job and then get that more money from that job. then when you retire from that job you get two retirement checks. that is what my grandpa did when he was in the Marines. so i would do it. Semper Fi
7. There are certain things that many people don't take into account when thinking about military retirements. You will get health care for life. There are many civilian jobs that do not offer health care after retirement. Think about it for a minute. How much do you think it will cost if you have to pay for it yourself when your over 50 or 60 years old? Most people will have significant health problems that would cost thousands or tens of thousands of dollars annually. With a retirement from the military, your cost would be hardly anything in comparison. Also if you retire from active duty with 20 years and enlisted when you were 18 your only going to be 38 when you get out. Think about that also. You will be receiving a retirement check PLUS be able to work a civilian job. Many people at my job are retired military so they are making 5 - 8 k a month plus the retirement check. If a person plans it right, retiring from the military is a smart decision.
8. It depends on many factors all related to the opportunity costs of staying in 20 years. Primary among the factors would be Officer v Enlisted. And Job in the Military and Job in the Civilian world. Since an Officer is a leader and manager, his specific job in the military is much less important to his employment prospects in the civilian world than for an enlisted veteran who is often trying to transfer his skills from his military occupation if he has any that directly transfer to the civilian world. Many of the occupations that hire enlisted veterans who don't have directly transferable skills such as law enforcement and fire depts have cut off ages of around 35 that preclude perfectly healthy retired military from applying. A California Highway Patrolman makes almost 90,000 his first year and they give veterans preference and seek to hire veterans but 35 is the cut off hiring age. They also have even better benefits and retirement than the military. A retired pay that is 90% of base. http://www.chp.ca.gov/recruiting/osalary.html http://www.chp.ca.gov/recruiting/advantage.html http://www.chp.ca.gov/recruiting/oqualifications.html For an Air Traffic Controller, the FAA does not hire beyond age 30, with the exception that retired military can be hired and then can work till age 56. This sets up a situation where if a military controller does not separate in his early years he must stay till retirement but then only has so many years he can work and will probably never make the kind of seniority he would have or the FAA retirement he'd have if he had left earlier. Some FAA controllers are making upwards of $200,000. Given the rarity of the E-8 rank and the extreme rarity of the E-9 rank, significantly below 1%, in any of the service branches, fewer E-9's than O-6 Colonels/Captains in every branch but the USMC, and the sizable pay difference between E-7, E-8 and E-9, it would not make much sense for a controller to stay in till retirement given the opportunities in the FAA. There is also a lot of age discrimination in civilian companies where only young 20 somethings are hired to fill entry level positions. If a military retiree does not have transferable experience and even if he has earned a college degree or advanced degree, he will often times have a difficult time finding suitable employment, since he can only qualify for entry level positions. An officer retiree because of his managerial experience can usually segue into mid level to high level positions even in areas where he does not have direct experience and where his age is not a hindrance but an asset. He will also have a much wider network of former military officers in similar positions who will form a circle of contacts that can help him in his transition to civilian employment. If a guy has the ability and desire it only makes sense to go to college and earn a degree. The military will pay for him to do this even before serving a single day. Good Luck!