Can You Live Off Military Retirement?? | How Much Do You Get??
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Күн бұрынSo how much do you really get from your military pension? Can you really live off of it?
I cover both Active Duty and Reserves / National Guard retirement plans.
Here is the link to calculate what you might get:
militarypay.defense.gov/Calcu...
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@saulgoodmanfromthehittvsho1314 4 жыл бұрын
First, I'm a Navy guy but I like this channel lol
@MattWard89 4 жыл бұрын
Thanks!!!
@latoya1648 4 жыл бұрын
How is in the navy still trying to make up my mind witch one to join any tips?
@venoxidegaming1432 4 жыл бұрын
@@latoya1648 Depends on what you want to do within the military and how you score on the ASVAB.
@mikethemechanic7395 3 жыл бұрын
I am 45. Everyone my age who retired with 20 active usually takes a year off and does nothing. Then they get a full time job. The military retirement pretty much pays for a nice house. If you are married and have 2 incomes it works out pretty well.
@poorlivesmatter6882 3 жыл бұрын
True 30 years service just retired, army at 17 to 47 service, good pay!
@liveandlearn901 3 жыл бұрын
@@poorlivesmatter6882 damn, 30 years. Enjoy your retirement, you earned it,
@newportnew3912 3 жыл бұрын
Yep. At 40 or 50, you can still find a decent job to supplement the pension or spend a few years to get a degree (or another degree) and get a good paying job for next 10-20 years before full time retirement. But you got to make it to 20 years first, active duty. Life is sweet with a military pension.
@Mr.Snaggy 3 жыл бұрын
@@poorlivesmatter6882 dang 30 years enjoy that check man have a good rest of your life
@Kruser4111 3 жыл бұрын
Plenty of places where you can live very nicely off 2-3 grand/month including in Bali or Thailand.
@Corvetjoe1 Жыл бұрын
Military retirement pay isn’t bad. If you get VA compensation and social security benefits at age 62 you’ll live pretty good. Plus, your retirement gets the same annual COLA that S.S. and VA disability gets. This year it’s an 8.7% increase. Some people make upwards of six figures by the time they get S.S. Especially, if they get a second retirement in a civilian job. That’s pretty good for a retired E-6 and up under age 65.
@dawinfred1097 4 жыл бұрын
I’m shipping exactly a week from now to Fort Jackson, going as a 25B and you’re the perfect guy to binge watch while at the meps hotel. Thanks in advance
@austina4189 4 жыл бұрын
Be glad you've missed the heat! I live near lake murray half an hour from fort jackson.
@armyricia6208 4 жыл бұрын
DaWinfred I am shipping off to fort Jackson too in September 17th
@russellstevens6375 4 жыл бұрын
Bro I wish u the best
@benspagnuolo7653 4 жыл бұрын
Signal corps! 😂
@mnunez10 4 жыл бұрын
Been at Fort Gordon for 10 weeks. Charlie 551 15th signal brigade 🙌
@wolfyez9301 4 жыл бұрын
I go to fort Lenarod Wood in September as an 88m, i enjoy watching matt ward
@christianthummel3214 4 жыл бұрын
Wolfyez September 9th
@wolfyez9301 4 жыл бұрын
@@christianthummel3214 yes
@bryan_witha_whyy 4 жыл бұрын
Of course you can...with a crap ton of discipline and sacrifice...something most military members lack when it comes to finances.
@DevilDaRebel 4 жыл бұрын
B Miles it depends man, for most cases it wont be enough. Its not just “discipline”
@austina4189 4 жыл бұрын
Challengers, camaros, motorcycles and hennessey😂
@bryan_witha_whyy 4 жыл бұрын
Veloxy If you save instead of spend you can. Stop giving spenders excuses.
@jabbers2126 4 жыл бұрын
@@DevilDaRebel I disagree. They literally give you a housing allowance, health insurance, retirement benefits and if you are smart you can keep a ton of your money that you are paid with. Just don't be stupid and learn how to make a budget.
@MultiRekrap 4 жыл бұрын
@@jabbers2126 precisely! I separated with $50k back in Oct as I knew I wasn't gonna be a lifer. It's definitely possible, but you have a lot of morons(in all branches)who choose to remain ignorant and "have fun". Even if they make it to 20, they will still have to work sadly. Research, budget, Invest!
@lilza8051 4 жыл бұрын
Thank you ward!! 😁😁😁
@joesanders9781 4 жыл бұрын
Huge fan of this Channel, can't wait to Enlist.
@Qquizzy 4 жыл бұрын
Great informative video bro. Good job
@joangregg4378 3 жыл бұрын
Thanks for the help! I'm there!
@brandenjoseph31 4 жыл бұрын
Shipping today thanks for all your vids
@samhudson8836 4 жыл бұрын
Cloudy HD same I’m going to fort sill, 68w
@brandenjoseph31 4 жыл бұрын
Sam Hudson I’m going to South Carolina as a 92A
@Me-eb3wv 4 ай бұрын
Best of luck bros 💪🏼💪🏼
@Schrankerle 3 жыл бұрын
Great video. Gentlemen (and ladies), be patient and make your plan. (It should not include winning the lottery). Put in your 20 years military time (active or reserve) for retirement and benefits (including college and 5 points veteran's preference for government jobs). An example might be: 4 years active duty, 4 years college or trade school, then 35+ years of federal civilian employment with 16+ years reserve military time and 35+ years of TSP fund growth (military and civilian). You retire with a federal pension, a military pension, social security and TSP withdrawals. That's 4 checks incoming every month folks.
@thmo9449 Жыл бұрын
Thanks for this comments. It's very helpful. I'm currently 12 years active duty. I'm enlisted transitioning to the guard with a 4 year degree. Thanks
@Schrankerle Жыл бұрын
@@thmo9449 It sounds like an excellent plan. You are primed for success in whatever you choose to do next.
@demaniyoung7778 4 жыл бұрын
Thank you Matt
@MattWard89 4 жыл бұрын
You're welcome!
@stephennux1714 3 жыл бұрын
Joined the Navy at 18 with 7k in the bank. I did janitorial and smoked a lot of pot in high school. Left the Navy after months with 32k in the bank. Invested 29k in the S&P in late 90. Started working at UPS, Exide Battery and did concrete on Saturdays. Invested 1k a month every month into it, Cashed out 250k from the S&P and invested with my Financial advisor Lyra Holt Dean(Look her up). Cashed out and Semi retired at 31. Took a year off. Traveled. Came home and started working part time for the insurance, entertainment and pocket change. Work isn't work when you don't have to work. Becoming wealthy can be done in few years. It feels like 60hr work weeks. Feel the pain of discipline early or feel the pain of regret later. I wish everyone well!
@liveandlearn901 3 жыл бұрын
I’ve recently made up my mind that I’m going to join the army. After high school, I took a year off to see what I wanna do. I told my self if you’re not doing anything in a year join the army so i am. Getting physichally prepared for basic, running pushups, sit ups. When i feel that I’m physichally ready im going to go to a recruiter and start the process of joining(hopefully in a month). I still smoke weed and plan on doing so until I’m told I can’t. Any advice?
@Schrankerle 3 жыл бұрын
@@liveandlearn901 Good plan, but lay off the weed if you are serious about enlisting. It's for kids and many jobs drug test and you'll get canned. We tested and discharged pot smokers in the 90s, some with 15 years military time and so goodbye to their retirement. Get fit like you are doing and save 5% of your pay in the TSP when you get in (you'll be glad you did). Hang with the smart guys when you're in and avoid the losers and their bad influence. Take some college when you are in if it is offered. After 4 years you'll know if you want to stay in or get out and try college. If you go the college route, stay in the reserves to keep your options open for retirement. Don't wait too long exercising though, they'll get you physically fit in basic, so don't worry too much about that. That's about it for advice, but don't hesitate to advance your career when you see an opportunity.
@liveandlearn901 3 жыл бұрын
@@Schrankerle thanks for the advice man. I appreciate it. It’s unfortunate weed is so frowned upon, but it’s understandable.
@Schrankerle 3 жыл бұрын
@@liveandlearn901 Yeah. Just pay attention to your NCOs and you'll be fine. Plus you'll come out of basic a hard body and psyched up for your MOS training. I've seen a lot of good soldiers, and you'll be one too.
@liveandlearn901 3 жыл бұрын
@@Schrankerle thanks, hopefully.
@joejoeyson1279 4 жыл бұрын
I leave for Fort Benning in two weeks for 11x, thank you Matt Ward for all of the help.
@MattWard89 4 жыл бұрын
Good luck! and you're welcome, thanks for the support!
@Everymans_Echo 4 жыл бұрын
Good luck! I may see you there I leave in 2 weeks and a half for the same mos
@qmathis146 4 жыл бұрын
Im going 18x
@zachbunch8701 4 жыл бұрын
Man I'd love to go 11X but I will NOT get stuck as an 11C
@jamesr3190 4 жыл бұрын
Love the channel
@MattWard89 4 жыл бұрын
Thanks!!!!!
@samhudson8836 4 жыл бұрын
In the airport on my way to fort sill, super excited!!
@Schrankerle 3 жыл бұрын
Hope you enjoyed the heat and Wichita Mountains. Loved Ft. Sill and time down range.
@carltonbaze2990 4 жыл бұрын
Shipping to Benning as 11x August 13th. I'm Hella hyped.
@brandonhantz6701 4 жыл бұрын
I might see you there brother
@carltonbaze2990 3 жыл бұрын
@@billshelton9147 stfu I been in over a year now...
@arnoldoarana4236 3 жыл бұрын
Great Information outstanding review about retirement...plus
@hirumbiffidum9145 4 жыл бұрын
Again this is an extremely important video; major kudos and props for making it it is very informative. Enlisted members of the US Military are very much in need of financial advice of understanding whats ahead of them and not being pressured into making financial decisions and monetary choices that are they often know are not good.
@MattWard89 4 жыл бұрын
Thank you! I appreciate that!
@jusslookin9826 4 жыл бұрын
@chad griffith that's true idk how both (traditional/roth) tsp work.. I just have mine setup 🤷♂️
@Schrankerle 3 жыл бұрын
@chad That's sad. Take care of your troops. In the Guard, we had a financial guy come in with a powerpoint and explain how the TSP works. Maybe guard guys were more informed on retirement because this was already their choice as second career.
@keitharvinferrer2261 4 жыл бұрын
This is very informative. Thanks!
@soldierboy8276 4 жыл бұрын
I was assigned to an Army Reserve unit after I graduated for the Sergeant Major's Academy in Jan 87 as an E8. I learned a great deal about the reserves personnel in reference to promotion points. They get 2 points for each day of reserve duty for a total of 4 points for a weekend of work. A total of 48 points in 12 months and an additional 15 points for the 2 week annual training which totals 63 points annually. 63 points multiply by 10 yrs add up to 630 points X 2 equals 1260 points in 20 yrs. A reservist needs 3600 (7200 for 50%) points to earn 25% of the base pay of a active duty pay at the same rank for retirement. As you all can see, 1260 points is well short of 3600 points. 1260 is only 35% of 3600... (More points can be added if an individual had active duty time, higher education civilian and military.) If this person would earn $500 with 3600 points but he only have 1260 points which would only earn him/her $175 annual retirement for the rest of his /her life after age 60. (this do not include annual pay raises) FYI..Retired E9.
@timothyward7381 2 жыл бұрын
175$ a month?
@soldierboy8276 2 жыл бұрын
Retired with 28 yrs of active service. 1967-1995
@NotMyRealNameBro Жыл бұрын
@@soldierboy8276 thank you for your service in the enlistment process now at 31 hoping to make it until I’m 55!
@soldierboy8276 Жыл бұрын
@@NotMyRealNameBro You are joining at the best time with no wars going on. I join in the middle of the Vietnam war July 67. I was not sent to Vietnam instead they sent me to Germany. I think every young man or woman should join the military for at least 3 yrs. If you do not have any college education, try to go online and get at least a 2 year degree. A degree with good efficency reports will help you get promoted faster. After your service ends you will have free healthcare for the rest of your life. If you decide to retire, you can draw military retirement, Social Security, and military disability if you are disable when you retire. Thats 3 checks you will draw for the rest of your life. Please stay as long as you can for you and your family's future.
@Me-eb3wv 4 ай бұрын
@@soldierboy8276interesting
@juankipr5104 4 жыл бұрын
Nice Video!!!
@MattWard89 4 жыл бұрын
Thanks!
@JukesMcGee 4 жыл бұрын
Leaving for Ft. Jackson on the 13th. I'm ready to start relaxin'.
@rogaldorn2109 4 жыл бұрын
25U uh oh
@thebravojedi2467 4 жыл бұрын
Good luck to all of you
@Mr.Untouchable_ 4 жыл бұрын
yeeah about the relaxing part. that wont happen for a long time my guy.
@JukesMcGee 4 жыл бұрын
@@Mr.Untouchable_ I'm well aware. I just say it call it relaxin' jackson as a joke... I won't be laughing once I'm there.
@TheGamingZeroGravity 4 жыл бұрын
Lol I remember basic like it was yesterday you will be so hungry all the time
@SirBarb1 4 жыл бұрын
I leave for basic training sept.24 for 19D and I’ve been watching all your videos and they are very informative so thank you for all these helpful videos.
@russ6404 4 жыл бұрын
where u going I leave same day 25 in fort benning
@russ6404 4 жыл бұрын
25q
@SirBarb1 4 жыл бұрын
@@russ6404 fort Benning
@russ6404 4 жыл бұрын
@@SirBarb1 ayeee
@Jahkozy 3 жыл бұрын
I’m 16 and I’m going into the military after hs for benefits this video really helped me
@mrwintry1 2 жыл бұрын
This video was extremely helpful. I recently joined the Army Reserves as an OCS candidate 25A. I leave in August for Fort Jackson. One of the reasons I joined was for the supplemental income you excellently explained in this video. I've been working on the Federal Civilian side for a number of years and your videos have definitely helped me plan out the best military decision that works for myself and my goals. Thanks for your hard work. You are much appreciated Matt.
@bryan_witha_whyy 4 жыл бұрын
Yes, the benefit goes up after 20, but your retirement is worth the most the soonest you can go do something else and start the clock on a SECOND retirement.
@collingilbert39 4 жыл бұрын
I’m going to Fort Benning as 11X, ship out August 11th
@fortgrove3166 2 жыл бұрын
I am retiring this year (well almost this year lol), with 32 years of service and I still feel I need to work until I croak. I went from NCO to Senior Warrant.
@Origin_Stories 2 жыл бұрын
Am planning to join at 26: Airforce.
@fortgrove3166 2 жыл бұрын
@@Origin_Stories congratulations and go as far as you can. Complete 20 years if you can. Having a pension at 46 will alleviate a lot of financial concerns.
@deewest1472 Жыл бұрын
Going Warrant was a great choice .
@kayp4601 4 жыл бұрын
In many cases, after a full military retirement you will also get VA disability compensation.
@jayohwhy05 4 жыл бұрын
Kay P yes, you can have your retirement pension and va compensation together
@LilPrinceTony 4 жыл бұрын
Thank you for explaining all of that. I was confused on how to calculate it when it came to reserves, you did a great job breaking it down.
@benbehrens5571 4 жыл бұрын
Love your videos bro I leave for basic next summer and your videos are helping me a lot to prepare for what to expect
@joshflics2183 4 жыл бұрын
Im leaving for fort leonardwood on august 12th as 35q. Your videos are awesome!
@Ayoutubeuser1879 4 жыл бұрын
How was it
@somoza2307 Жыл бұрын
How has been your experience so far?
@bb818usa 4 жыл бұрын
Very informative video......good job. :)
@marcusavila2961 4 жыл бұрын
They should have a green phase, how to save, invest and be disciplined in spending
@Autumnlight91 4 жыл бұрын
Shoulder has been a problem for me, it's set me back for almost this whole year. I've gotten it almost better and am about ready to start to do push ups and things to help lose the weight. So hopefully I can lose it quick. Question though, how is having a car situation in the army? Like I understand at basic/ait I can save up the money, but what if I have one before hand? Can I drive to basic and leave it in a parking lot? How would that work?
@jordancarlson7338 4 жыл бұрын
You'll have to leave it where you live, basically you fly to basic and get on busses to the base.
@mynameskim616 4 жыл бұрын
You leave it at home then after AiT, depending on where you get stationed, then you can go get your car or pay to have it shipped to you.
@bryan_witha_whyy 4 жыл бұрын
Mrs Kablow The military pays to ship one car.
@ariefraiser140 3 жыл бұрын
$55,000 a year retirement income is actually more take home pay then someone in the private sector making the same salary for a couple of reasons: 1. You don't have to save for retirement. Most people will have to save and invest at least 10% of salary in order to retire in their 60s. 2. You don't pay payroll taxes on your retirement income. Payroll taxes are around 7.4% of a paycheck. So yes just looking at salary your $55,000 yearly retirement looks the same as a private sector job paying $55,000 a year. But looking at take home pay the military retiree actually takes home about 17% more than the typical private industry worker with the same salary. Another think. In order to obtain a retirement income of $55,000 a year for 30 years a private sector worker would have to save about $1.375 million.
@Me-eb3wv 4 ай бұрын
That’s true. Military life is hard but at the end of the road once you reach retirement you will realize that it was completely worth it. A lot of people under estimate just how hard it is to save for retirement in the civilian sector. Yes on paper you may make more, but after taxes, paying the bills and putting food on the table there goes like 80-90% of your check. An E1, after taxes and paying their car and phone bill still has anywhere between $10k-$16k left at the end of the year to put into their TSP fund and a civilian investment account. The average working class Joe is lucky if he even has $200 left in his pocket after paying his bills.
@Travywavvy 2 ай бұрын
Matt, can you walk us through the things on your shelf that is behind you? What is the story on the shopping cart? I spy a SEAL trident too! What are all these things and where did you get them?
@luvslogistics1725 3 жыл бұрын
As a LTC I’ll earn $4500, better than alternative which is $1500 social security
@toddmaek5436 3 жыл бұрын
Does that include TSP
@BaxxyNut 4 жыл бұрын
I ship off to OSUT tomorrow at Fort Benning, I hope I make it.
@Mocha69A 2 жыл бұрын
National guard personnel have people that where full time national guard they will get the same as an active duty soldier. Also many national guard soldiers where in the regular army however many years to the Individual the retirement system accounts for there active duty time (full time service) its a code that represents time federal time. Also many national guard soldiers have deployed to war multiple times. When they deploy they are federalized under title 10. They went to war usually 12 months just like everyone else that that time is reflected during retirement. Also any other federal jobs have a code that reflects pay when you retire; say you got a job or had been working for the post office or another federal job. These aslo get applied to retirement pay. It's not just your military service time helping your pay.
@ericmacleod2070 4 жыл бұрын
You are a great at disseminating information in all of you videos. Thank you for helping and sharing you knowledge with all of us - Thank you.
@natepiercii 4 жыл бұрын
I ship out next Tuesday for Fort Benning!
@sahildhillon2859 4 жыл бұрын
Chieftain - good luck I ship out August 27 to Lackland
@wireup4321 Жыл бұрын
As an E7 One person yes.... not a family.... retired in 2017. 22yrs
@Demonte202 3 жыл бұрын
When you get life insurance can you pull out money from it? And what kind of life insurance does military give
@TonyRome402 Ай бұрын
Certainly not, but it provides a beautiful cushion, especially when you add medical and so many other wonderful benefits.
@brittanystewart6520 4 жыл бұрын
Totally off topic to this video but i was wondering why my recruiter said he still hasnt gotten my drug test results back from meps? I went july 24th and he said it could be a bad sign but also said he should have still heard by now even if its a pass or fail.
@showmeyourdaleel6568 5 ай бұрын
I did 7 years in the Army NG and got out as an E4. I did 1 deployment in Iraq. I didn’t retire from the military. I get over 4k a month in VA disability compensation and it goes up with COLA every year. I also work for the government. I am set for life. Beats doing a 20 year career.
@Me-eb3wv 4 ай бұрын
That’s one way to do it. How was VA I’ve heard they’re a pain to deal with
@showmeyourdaleel6568 4 ай бұрын
@@Me-eb3wv it took about three years to get my 100 percent. The VA has been good to me overall.
@TricksterzMW2 4 жыл бұрын
Another fantastic video matt. All your videos have helped me a lot. Thanks from a Canadian :)
@smug8567 4 жыл бұрын
The army cuts my disability pension because they said that the plate in my head wasn't big enough. They had to replace my metal plate with a plastic one. Every time Catherine would rev up the microwave, I'd piss my pants and forget who I was for about half an hour.
@timeli6021 4 ай бұрын
Shitters full!!!
@megga0 4 жыл бұрын
As a officer yes as enlisted hell no. First thing I noticed as a gate guard was all the enlisted that needed to work a second job while in, and when they retired
@jay-vandoom 3 жыл бұрын
good video
@joshlamothe8114 4 жыл бұрын
Love the vid. I'm going into the Airforce once I'm out of high school and I never really understood what the retired pay was until now
@MattWard89 4 жыл бұрын
Thanks for that, I'm glad I did a good enough job to clear some things up
@badazzboxer 2 жыл бұрын
I went with the Legacy plan, I want my 50%, and I'm putting in 9% into my TSP. Once I obtain Staff, I'm going to put in probably 11-13%, and then SFC, 14-16%. You can live off of your retirement: Just don't be greedy, and materialistic.
@dboucher26 2 жыл бұрын
I just retired as a SFC with exactly 20 years. With my pension and VA compensation combined I make enough to not need a job. It helps that my wife is also retired with VA compensation.
@evanmcleroy3386 4 жыл бұрын
Great information. I appreciate what you do. Keep up the hard work and great content!
@nickhamerlynck7919 2 жыл бұрын
Let’s also consider hopefully the people doing these 20 years will be smart with their money and invest it, the military has so many benefits for housing and food, u could save a lot and make some good financial decisions that would make it so u would never have to work again.
@katiepalumbo674 4 жыл бұрын
I leave for basic later this month and my recruiter was having troubles with another person about their pay... how do we make sure we are getting paid the correct amount and not being overpaid or underpaid?
@ncc8327 3 жыл бұрын
The minimum to have a good year is 50. Each day that you serve though is worth different points. Each reservist gets 24 drilling days a year. Each full day is worth 2 points. Your annual training (AT) days, medical appointments, or going on ADOS are all worth one point. -reserve O-3
@joshuaurbany6468 3 жыл бұрын
I'm going enlisted with an option 40, if I make it through that, I'mma go to college then commission to be a fighter pilot and live out that career. It'll be difficult but there is no reason I shouldn't fail.
@ironpatriot344 Жыл бұрын
So…you didn’t make it. What happened?
@fletch2457 4 жыл бұрын
Hi can you make a video covering what all you get to keep in terms of gear and equipment etc after basic or after retirement etc, thanks!
@jayjohnson1581 3 жыл бұрын
You don't get to keep any "gear" that is issued to you. The uniforms you buy, those are yours. Maybe a gearlocker will be issued to you. But not actual "gear". All of that stuff is essentially "loaned" to you.
@Schrankerle 3 жыл бұрын
@@jayjohnson1581 Don't forget your 2 sets of drawers, cold weather and the army locks for your duffle bags.
@jayjohnson1581 3 жыл бұрын
@@Schrankerle hahaha! Solid facts!
@juice9514 4 жыл бұрын
I literally just picked my mos! I ship September 3rd and swear in this Thursday! It does not feel real at all I’m so excited😂
@johnquintero3881 4 жыл бұрын
Where are you shipping to and from?
@ivogarner4146 4 жыл бұрын
What is your MOS? I ship September 3rd too. 19D Cav Scout
@juice9514 4 жыл бұрын
John Quintero idk yet I gotta go back to MEPS and get my airborne physical
@juice9514 4 жыл бұрын
Mickey Mouse thank you so much!
@ivogarner4146 4 жыл бұрын
Travon Williams That’s lit bro! Those Green Berets are tough as hell. You’ll probably be going to Ft. Benning. Good luck with your training dawg!
@carlossanchez9915 2 жыл бұрын
So if you work AGR until retirement do you get the same retirement as active ?
@shim6057 4 жыл бұрын
So 19 years Active Duty and 1 year Reserves and your pension gets pushed back until 60? Boy does that suck that is not right! Question: What if you go beyond 20 years? Say 26 years with 22 Active Duty and 4 Reserves. Would it pull your pension forward in age?
@kobe0007 4 жыл бұрын
I think if you do 20 years active, you cannot transition to the reserves anymore.
@christianhuffman7440 Жыл бұрын
My question is how do the reserve officer retire with more than active duty considering the time and service we spend vs them? We as in active duty
@jimmyjames1411 Ай бұрын
Depends on your pay grade. If you’re an E4 no unless super cheap!!! I knew a guy who could barely pay rent it appeared
@dennism103 4 жыл бұрын
I was in the army and af the army is btr. Rank is faster and the army offers more generous bonuses.
@khqt55 4 жыл бұрын
Pay rates. Enlisted vs warrant officer vs officer!
@TheGreenWolfss 3 жыл бұрын
So if you reserve retirement you get money from military can you also get social security pay thingy? Sorry I dont remember what it called
@iseeyoutoo111 3 жыл бұрын
Great information. Thanks for your insight. 10 years enlisted and as a 4 officer and most of my Airmen struggle understanding this.
@klohr311 2 ай бұрын
retiring as e6 or below mostly not. E7 above or general officer probably yes. alot of factors involved if you are relying on military retirement.
@docram1983 Жыл бұрын
Thanjs for the time
@jusslookin9826 4 жыл бұрын
If you're planning on retiring as enlisted you better be a 1sgt/msgt or csm they get the most $$, obviously. Officers clearly get more money than anyone else so if you have the chance to become an officer I suggest you take it and do your 20
@jayjohnson1581 3 жыл бұрын
Those who stay in 30+ years are the ones who are able to retire and not have to worry about a second job. Enlisted or Officer
@Sjonathan91 4 жыл бұрын
Badass video. So yea looks like I’m not going reservists lol
@majdd2008 4 жыл бұрын
Only 17% that enter the services make it to retirement. So basing your decision on retirement only, from ground zero, is a long road you may not make. Some die, some get wounded, some marry someone not willing to keep moving every 2-3 years. The reserves offer the part time service with delayed full time benefits. I never thought I'd be this close to retirement (coming up in April 2020). I thought I was going to be long gone before now, just worked in my favor...but it's been a long and at times lonely road.
@benjamingarcia2282 4 жыл бұрын
Dennis Davis Damn congratulations man
@vincent_8817 4 жыл бұрын
I graduated last year I took the test a couple months ago but I didn't get a good score is there like a college course or something that will help you study for the asvab
@poorlivesmatter6882 3 жыл бұрын
E5 and gs15 last held rank govt, just hit 30 years service retired officer, good money, old civil service pay
@williambaker6981 Жыл бұрын
Everyone needs to be made aware of S-344 and the truth about medical retirement
@nbaterrence9486 4 жыл бұрын
Hey Matt I have a question, after you finished with your contract on your mos, is it possible to enlist on a different mos
@christianthummel3214 4 жыл бұрын
NBA Terrence Yes you can.
@nbaterrence9486 4 жыл бұрын
@@christianthummel3214 thank you sir, shipping out on October 8th
@nbaterrence9486 4 жыл бұрын
@@christianthummel3214 if you change your mos after the contract do you have go do another asvab, basic , and AIT or just another AIT?
@nbaterrence9486 4 жыл бұрын
@@christianthummel3214 sir can u answer pls
@DogeChow91 3 жыл бұрын
@@christianthummel3214 answer him
@havenpersonalcare7968 3 жыл бұрын
With the military there are hidden benefits that will far outweighs civilian counterparts. I've observed individual that retires with 20+ years and their take home add up to 6 digits.
@thegamingturtle4373 3 жыл бұрын
So how much money will i save up after 20+ years living on base and eating from the defac? Ill most likely go longer than 20 but just asking because i would like to retire with a paid off house and car
@peterharrison5833 3 жыл бұрын
I did 27 years, 6 Army, and 21 USAF. Retired in '09 as a MSgt (E-7). I live in Huntsville, AL. I could never work again and live comfortably. Not rich, but good. And no worries, financially. Of course, if I lived in Long Island (where I came active duty), well....that would be a different story. So...it depends.
@yannick245 3 жыл бұрын
If you live next to a base you can also save a lot of money.
@peterharrison5833 Жыл бұрын
@@yannick245 Very late answer to your comment, but yes. Redstone Arsenal is down here, so I both the base and the V.A.
@eh6618 4 жыл бұрын
Am getting ready for BMQ CAF, I just enjoy the watching these videos.
@HanGHac 4 жыл бұрын
I know this is an army channel, and I love it btw, but do you have any info about Marine stuff??? Thanks
@patbudge2929 3 жыл бұрын
How does your guys Social security impact your pensions and VA benefits when you are what 66 or whenever social security kicks in?
@user-dd6wv4vp4x Жыл бұрын
600 bucks a month after you pay taxes and insurance for 20 years
@matthewhernandez2778 3 жыл бұрын
@Matt Ward- I am a reservist in the Navy and trying to go AC. How does my reserve time effect my active duty time?
@docbennett2859 3 жыл бұрын
It will only help for determining your pay date. Your raises and your retirement pay calculation will be based on the day you entered service. Not the day you went on active duty.
@DesmondNoel 2 жыл бұрын
Which retired rank get to be called by their rank till death and carry service weapon
@ricorodriguez3579 2 жыл бұрын
Remember there are a lot of prior service members so retiring at O-3 is not unheard of. In the Air Force, enlisted promote SUUUPPPEEERRR sloooooooowwww, so retiring at E-6 is pretty common too.
@dennism103 4 жыл бұрын
It's a supplement
@rodrigo2014 2 жыл бұрын
I’m 60 and I’m planning on retiring but I haven’t saved up much for this yet
@gustav2515 2 жыл бұрын
I’m scared of retiring now, I feel I might regret it later
@idris8498 2 жыл бұрын
@@gustav2515 I retired at the age of 62 and never regretted it one second, the perfect moment not too early not too late ( 2 years before Covid ). And I have $300k saved for the rainy day
@Michael-gd8xj 2 жыл бұрын
@@idris8498 It’s so sad that so many people dont save or invest for retirement. It’s definitely possible for most but they just don’t do it. I guess it’s up to us to to keep teaching.
@Michael-gd8xj 2 жыл бұрын
My investment and financial advisor Mrs Samantha Lee Ward helped me with retiring.... my first bitcoin investment with her gave me profits over $20,000 and ever since then she hasn’t failed to deliver and I can even say she’s the most sincere person I’ve known.
@andrewmarias1719 2 жыл бұрын
@@Michael-gd8xj Mrs Samantha Lee is holding a very high prestige and reputation in personal financial management. I’m happy you mentioned her. My brother recommended her to me after investing 5grand and she really helped us in times of pandemic crisis. I’m close to my retirement and this has been and as well remain a good survival for me.
@docbennett2859 3 жыл бұрын
No you can’t. Especially after they will start taking $25.00 a month in January 2021 for your “free” health insurance for life, that we were promised.
@anthonysciabarrasi2611 4 жыл бұрын
if ur gonna do 20 years u should try and pay off a house during that time while ur having housing paid for by military and everything so when u retire and u only actually getting like 50k or so as said in the video u don’t have a mortgage or rent
@njasanie23 4 жыл бұрын
That's what I'm planning on doing leaving for basic training in about September October I'm going to do the 20 years I'm 24 now get out at 44 if I decide to do extra 4 get out at 48 and hopefully I can transition to become an officer also I will save as much but I will do some traveling lol while im in there and hopefully find my wife and have some kids but for the most part I will definitely pay off the house and find a permanent place to live and raise a family im excited be apart of the us army to serve and to set up my future 💪
@stefanurquelle7736 3 жыл бұрын
@@njasanie23 Retire after 20. Buy an investment property or two while in service. Move overseas in a cheaper cost of living country, buy a home to live in and settle down there.
@njasanie23 3 жыл бұрын
Ogami Itto, The Executioner yes I’m planning on living overseas n buying property thank you for the advice 🙌
@jayjohnson1581 3 жыл бұрын
it doesn't work that way. you get BAH if you live out in town, that would cover your house... but people move and transfer from coast to coast or overseas, your pay and BAH will not be the same when you transfer. Then if you live in base housing where housing is "free" you dont receive BAH (basic allowance for housing). If you're doing that, you definitely won't have the means to pay for a house.
@stefanurquelle7736 3 жыл бұрын
@@jayjohnson1581 Umm you can just rent the home out if you have to move or leave for an extended time. You can buy a duplex or multiunit building, hire a property manager and rent it out. Also most people dont move around that much in the military unless they are promoted or have a change of occupation or duty title.
@bass-clefbongo5699 3 жыл бұрын
Do army retirees get to keep health and dental insurance for themselves and their families (spouses and dependents)?
@Jades-qh2pr 2 жыл бұрын
Yes and no You and your spouse get the health insurance, but your kids will only have it until the age of 21.
@alexcaraballo544 4 жыл бұрын
Easy way for enlisted members to cover the pension gap between what the pension gives you and what you need in income is investing in a regular brokerage account. Ex. E7 at 20 gets 32k in pension and the member need 42k a year to live on, the member would need to have 250k in a taxable account using the 4% rule would essentially cover the 10k needed for an early retirement.
@Yohoo272 2 жыл бұрын
E7 gets $32k annually.?
@alexcaraballo544 2 жыл бұрын
@@Yohoo272 in pension benefits yes. Remember we receive half of what our highest three years of basic pay was in a twenty year career. During active duty we receive other entitlements that more than make up what our basic pay lacks for the most part.
@JohnDoe-dj8kb Жыл бұрын
It can be enough if they did away with that VA waiver BS, taking almost $1,000 out your check. Veterans should be able to keep their full retirement check.
@timothyward7381 2 жыл бұрын
What about 19 years reserve then going 1 year active? Would it be instant drawing then?
@toribelcher7067 4 жыл бұрын
This question isn’t about this video but the military in general I was thinking about joining the army when I turn 18 Is basic the same for everyone if I want to be a military doctor like is it the same as someone who is like in infintry (sorry if I spelled something wrong.)
@Reed591 4 жыл бұрын
it will not be the same my infantry training isn’t 14 weeks (not including AIT) any other non combat job should be pretty similar
@alejandraprieto8594 4 жыл бұрын
Hi, I’m sorry this is not related to this video but my SIT signed a 14 week OSUT contract in fort benning he left two days ago but I have been hearing about some soldiers training getting extended to the 22 week program. Is that true? Could his contract be changed while his at basic to the new program? I’m sorry I just want answers there’s nothing in the internet and I figured I could ask you.
@Reed591 4 жыл бұрын
this october it’s changing he’ll still be there for 14 weeks
@salsaon2358 Жыл бұрын
I did 20 years and 11 months as a Marine and I say is well worth it.
@semajwilliams7319 Жыл бұрын
what was your mos
@Me-eb3wv 4 ай бұрын
20 years in the USMC? You’re something else man you a beast
@capt400 2 жыл бұрын
Don't forget that Tricare medical is worth a lot.
@alexrice528 4 жыл бұрын
Thanks Matt for the vid. I am 13 and have watching your videos for a year now. I want to go to West Point Military Academy. Can u do a video about the pay on certain active service ranks
@raymondjin2000 4 жыл бұрын
Alex Rice search them up on google
@oplocktv1002 4 жыл бұрын
The other comment is right. I’ve learned everything about the Army/military just by doing research. Online, books. Barely had questions for my recruiters, because I just educated myself and did research. Enlisted now.
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