I can show you how to turn 22K into 0k.

Step 1. Don’t spend all the money you made on deployment on a brand new 25% interest Camero.

Nobody’s joining the military for the pay. I know I’m joining for the gi bill ,the job experience, to see the world, to gain self discipline, and to live rent free while i learn to manage money . And to just be able to sayAnd to be able to say I serve my country and be a vet. Edit: also I’m using the military as a stepping stone there’s a lot of benefits from serving.

Honestly I don’t care about money I just want to live without the worry of not having enough money.

Instructions unclear: have spent first paycheck on $1,125 Versace AR-670 complaint boots

I turned my military pay into $160k a year by getting out and using my experience to go contracting. Military is old news.

I'm really glad to see people like you spreading this around where it counts. I'm 23 and joining the navy soon, but already have my own 401k and a solid investment plan outside of that which will only get better during my military occupation. Took a good few years of studying people online to figure it all out too

If you want to have steady passive income when you leave the military, just save it and invest in stocks paying dividends while you are in the military.

Thank you so much Nicky, Im leaving for Bootcamp for the Navy in the winter. Im going in with the mindset to be smart with my money, And not to make to mistakes most make, And that is to blow there money on a new car.

Great job, great advice. Stay out of debt, you don’t need it. Live BELOW your means.

We joined roughly the same time. You the Navy. Me the Air Force. I'm an instructor currently, I try to spread knowledge like this to all of our new airman. Some listen. Some don't. Keep making videos like this! This is the first one I found and it's very informative for our new recruits. I never got advice like this and it wasn't till 2016 that I opened up a TSP and started saving. Got some catching up to do as I missed out on growth over the first 6 years

I’m honestly glad you are covering this most new troops don’t understand how to make their money work for them.

I’m The CFS at my command, and this is the stuff I tell my Sailors every day! Excellent video Nicky.

Just got on your channel and been out for a while now. TSP helped me save alot until I didn't have a plan getting out and used it. There were many financial hidden gems. If you going to be in more than 3 years, get specialized training. Easiest is taking a language test, pass, and get paid according to your score.

I'm an AF medical officer x14 years. Just broke Million dollar in assets plus zero debt. Made 100k this past year following similar advice that Nicky just gave. It takes time, but great advice by Nicky in my opinion!!!

These are great ideas! Service people need ideas like this taught to them in the military today!

Love this video bro! Can you please do more videos on what to invest too?

23k is kinda a joke when your putting your life on the line.

thanks bro. ive watched both vids and ive learned more about money now than my whole life i didnt grow up with a alot of money so i never really had the knowledge on this type of stuff thanks man.

Thanks for this honest no bs advice.

The timing of this is impeccable because now DFAS is starting a payroll tax deferment starting the day this video uploaded

People need to know about the pension. Such an incredible financial opportunity.

You are awesome, I needed to hear this...thank you.

Good stuff man! I firmly believe joining the military is the best way to build a strong financial foundation at a young age. One that can benefit you for the rest of your life. Just gotta deny the instant pleasures of mustangs and the latest jordans, lol.

I am currently in A School right now, every pay check I get I invest half of it. So far I’ve made more than I was making in regular day to day job. Thanks for the Tips I would definitely use them since I’m just starting my navy career !

I love your content. Especially videos like this! When you calculated pay, did you take tax out of the base pay? What did you calculate BAH and BAS at? I feel like these numbers can vary vastly depending on where you live and if you have dependents. This content in general is great! Thank you for starting the conversation! I joined later in life, and I wish I had known all of this bc it would’ve made me join a lot sooner!! Keep up the great content!

that commander flexed HARD

98k in 4 years? Bro what... I've been enlisted for 5 years. My first 2 years in weren't shit for pay. I started out at $550 every 2 weeks and the next year it was $1100 every 2 weeks. Then... 2.5 years in I moved off base. My 3rd year I pulled in over 66k. My 4th year 78k. My 5th year 84k. A LOT of factors come into play... your area code for BAH rates, deployments, TDYs with per diem, etc.. It's not all about rank. The longer you've been in and the more experience you have the better chance you have of being sent on trips to make money.

I regret not starting TSP when I first got in, I waited till my 6 year mark to start saving. I now have $100k I’m saving and investing.

Do something airborne, and/or be a linguist. The proficiency bonus pays are added monthly so you make an extra $500+ (basically 2 pay grades if you don't factor time in service raises) per month. I'm in the middle of my third year enlisted and I've already made roughly $20,000 more than my counter-parts from BMT based solely off of my incentives and signing bonus. (signing bonus only ends up being $4,000) Linguists are also in training for roughly 2 years, because of this many first term bases don't bother inprocessing us into the dorms with the other lower enlisted, we go straight to off-base and start raking in Solo BAH/BAS. Get a roommate or two and now you're making another $500 a month. It's EASY.

Great stuff! Keep it up

Great vid as always. It would be cool if you spoke about the _itsnate tiktok situation in your next video! Like I said, Love your content!!!!

I’m going to boot camp in November and I really needed this thank you 🙏🏿

All you young guys that are still in active duty better listen to this man here.

Hey nick, please cover more about the Roth side of the tsp, thanks!

He's honest. Great video, dude!

Your retired commander made $200k+ due to multiple factors, which you did not cover in the video. 1. He was an officer (automatically higher pay in military!) 2. He has a high-demand four (and/or six) year degree (clearly something in biochemistry or pharmaceuticals) 3. He got into a military job that he knew would translate into a high-paying civilian job 4. His side hustle is probably with a private firm/company since government jobs do not pay as well as private sector jobs 5. All the other retirement stuff comes at the end. If points 1-4 do not apply to you, your "commanders" retirement fund will always be thicker! -Max P.S. Him asking you your salary and then stating his was a bit unnecessary, IMO. Flexing his ego because he clearly knows he makes bank over what you make. Being humble will also make you rich!

“Not sleep deprived” I’m watching this at 3 am in my dorm lmao

You rock! Love your videos !!!

Fantastic video!

this is so true thank for the great advice this is more helpful than those dumb high school classes

Just made E4 this past cycle. Can't wait for that sweet, sweet pay increase

THANK YOUU!!!!!! GREAT VIDEO!!!!!!!

Great video m8

People should listen since he’s the real deal trying to help out and not asking you to buy something or pay to attend a seminar or some cash scheme he’s freely giving advice whether you take or not is up to you.

One quick correction! They will match up to 5% contributions into your TSP immediately (You stated they didn't until 2 yrs.) But my understanding is that if you don't complete 2yrs of service, the amount you actually get to keep is reduced. This is from from my experience. I started contributing 5% as soon as I left Basic Training and had computer access, and they've matched me the whole time.

Got a degree, joined the Air Force at 22 last December. Fucked up, got a DUI in AFSCO Hurlburt Field AFB, Florida. Didn’t have to join, got a large sum of money after I graduated from Clemson. Enlisted as E3, got demoted to E1. I don’t touch my savings, I have investments in the equestrian world but I still don’t touch that money besides to pay my mortgage for my house in Palm Beach and horses. I bought a new car here instead of shipping my Tesla here, I live paycheck to paycheck but still use TSP and will continue to do so. Goes to show no matter how lucky you are in your life, you can fuck up and still live comfortably and do it smart.

Nicky your the best.

Haha yea “watching in the comforts of my own home...not tired” 🤣. I just got out of basic training and I’m in AIT. Such a comfortable home

Wow thanks for the advice, will definitely come in handy. Is it possible to do both the TSP and a Roth IRA? If that’s possible, retirement is gonna be pretty sweet 😎

Thanks for the great information I have stocks already in thing and get most of what you are saying. I will definitely try to do what you suggested.

Thnx.. good to know 👍. Good review.

Make sure you guys pick the Roth plan instead of the traditional tsp bc Roth takes out the taxes before the money is put in so the money you see if actually what you get when you pull it out

Thank you, I'm two years in the service and haven't invested much into the TSP. Wheres my computer?

As of a 1.5 years ago as soon as you come in to bootcamp youre offered to be matched up to 5% through TSP and your RDCs let you know this and give you all the options

It's important to accurately place your money towards the L fund that will mature at the time of retirement. The L funds are catered to give you the best return for your money (when acting with TSP) based upon when an individual soldier believes they'll hit retirement age.

My dad works for the army (not active duty or reserve just for the DOD) and makes over 70k a year, now that's well above average and you can live very easily on that. But he tells me about his coworker who works in Afghanistan and has been doing that for a couple years, his coworker makes over 200k a year easily because of hazard pay/other pay for rando things. Moral of the story is take the opportunities that are given to you and you can see massive benefits

Joining the military and buying a home for my family is my plan. Coming back and buying another one when I'm done what I want.

Great topic

When I hear E3 I think video games...🤣🤣

Another good way to save money is to make sure to get BAH early. It’s another paycheck. Then just literally rent a room off of someone’s house or apt!!! Just pay like 400-500 bucks for a room and live low key. Watch you savings grow wicked quick!!!!! I always had money to go out at Bars, have fun with woman, had extra Cars, I had 20k in guns, (I sold them later during nursing school) and yes I’m a nurse now. Previously a corpsman. Goo times! Did 8 years. I have a house 🏡 and nice new 2020 f150. Things are looking good. My next goal is to have like 30k cash in one of my savings account for play/emergency money.

When a leader walks into a room, some feel intimidated, but the next leaders feel inspired😗

Here is a tip if you stay National Guard you can match the tsp at 5% and then have outside employment and match them as well then you can open a Roth IRA with a solid firm or dump it back into either accounts, max at 6k per year and then either invest some more or just chill with your money because if you do these thing^ you won’t have to worry about retirement ever again. X2 if your married.

I’m living off about 50% of my paycheck as a an E-5 in for 5 years, unfortunately I didn’t start sooner in increasing past 5% contributions… but these day I invest 25% and save 25%. I think I’m expected to have 1-2 million dollars by the time I’m 65 and be making anywhere from 90-100k a year from compounding interest

Heyy, I’m early. Wassup Nicky. I’m going into the Navy in December and I can’t wqit

Oddly enough when I got out of the military after 12 years which I regret should of done my 20 years. I started saving after the fact I did a couple contract jobs and invested in stock market I'm doing well then most people.. This guy advice is golden when you join the military good sounding advice is hard to find these days

Stick to a 30/30/40 rule. The military is great in that it's SGLI program on top of a 10% of earned income into TSP won't be at 30% of total income. Take what's left and throw it into a mutual fund or other investment account. Take another 30% and apply it to debts. That's loans, credit cards, and the like. If the amount of monthly debt expense is greater than 30% of earned income, then you'll have to draw back on the amounts going towards savings. Lastly, use the final 40% for yourself. That's education, groceries, and general "living life" expenses. Whatever is left over, contribute it to something that will gain interest.

Good timing.. just graduated boot camp literally 7 days ago!

I've never served and I was never aware of what military pay consisted of by rank. It's amazing to me that we have folks bitching and complaining about how McDonalds and other non-skilled workers need to make $15 an hour at minimum while men and women defending this country make less than that. I understand that it's service and you don't go in for the money but as citizens benefiting from this service, we need to get our priorities straight. Seems like the issue has been compounded now that you've basically lost your pension and are having to contribute to a 401k that you're not even vested in until after 2 years, of a 4 year contract. Seems a bit ridiculous to me.

I ship out in October to become a sailor!

5 min in and I subscribed

Make sure that TSP is matching you up to 5% if they’re supposed to. They didn’t match me for a year when and owed me thousands. I guarantee they do it to many others knowing they won’t find out or look.

Navy fed actually has a savings program that has pretty decent returns.

1. Dont get married after 10 years your X spouse will get half of your retirement pay. 2. Dont have any spawn 3 get a camper for the back of your pickup truck and live in the parking lot on base. 4. Quit buying poison at the GeeDunk! 5. Buy land

Thank you good video

My chief sat me down and told me about TSP in 2004 it helped me alot. I put 20% away as a private. Now I'm contracting overseas and I rolled that money to my current 401k with my company and put 20% percent away. Set it and forget it!

U have to wait til your 55 to use this money. I think investing your own money in stocks or real estate would benefit wayyyy more. Plus for some privates that join straight outta highschool and do 20 years they’ll retire at 38 so why not just give them the money then

Thank you so much for this information! I have my TSP contributions set at 10% already, but would it be a bad idea to set it even higher, like at say 20%?

I love listening to people talk without saying much.

Don't forget your enlistment bonus money for your rate (if you qualify).

How to make 300k in military: Get dropped from boot and make a KZfaq video about it

Usmc>civi hopefully navy recuiter contacts me this week lol. But yeah hopefully i Put money away for retirement.

It sounds like a Roth IRA Which requires some knowledge of it, as it typically require you to wait until you almost ready to expire. Then you get majour taxes on it when you do withdraw if you have x amount of money that you make. Assuming that the system doesn't fail before those 40+ years. So its something make sure you look into as alot of people won't even be able to do it.

Only add on and people mistake. Your TSP is not the only money you have when you retire from the military. You still get an additional percentage of your pay every month as well

If i only plan on serving 4 years and investing that money for 4 years can i take that money out after service? Or do i have to wait till im 65?

80% C Fund, 20% S Fund and you'll see some excellent performance. 21.5% performance this past year.

Instructions unclear: now have 2 payday loans

13 months in and I’ve done 25% since day one. I do the blended funds but C seems to be the best

I’m 19 I just joined the army and I find this very helpful

It’d be a lot more if you’re stationed somewhere in Hawaii like I was for my first duty station I was making an additional $700 per month for COLA and $378 per month for BAS and if you’re married you’ll have about $3000 a month for BAH

Thanks man I'm shipping out to basic this October to fort benning

Thanks for the helps

Been in the Navy for almost 3 years. I’m an E-3 and not a single paycheck has been over $1,200 since I’ve been in

The tsp is a good thing But it should never be a substitute for a defined benefit pension plan which should be returned benefit to military personnel if in military i would place 25%+ into plan if i was on deployment i would not need to spend much Are there Mexican cokes on navy ships

When I’m 65 and have 300k the inflation will be crazy

Still in that legacy program! For real though do TSP guys

No point in leaving the military- If the private civilian sector is a dumpster fire of morally bankrupt people

While I was watching this and he said McDonald's a mcdonald's ad popped up

I feel if you have a hustler mentality and have plenty of discipline. Then getting into the military can pay off in the long run. Nothing in life comes easy

Im not even in the military and never plan to be. Yet I clicked on this.