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Author Topic: Hello all  (Read 4333 times)

Caycho

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Hello all
« on: February 26, 2017, 01:52:07 AM »
Hello everyone first post here!
A lil about my self, i'm 21 almost 22 this april im currently active duty Air force. My plan right now is to achieve FI/RE at 41 because this is also when I can retire from the military. Nice meeting you all!
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Nangirl17

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Re: Hello all
« Reply #1 on: February 26, 2017, 02:24:53 AM »
Welcome!
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Accidental Fire

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Re: Hello all
« Reply #2 on: February 26, 2017, 04:38:49 AM »
Great plan, I work with many active duty and retired military folks. The retired ones who are now collecting their military retirement and a nice civilian salary are set - if they started planning as early as you are they wouldn't really have to work at all. Good luck!
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PJ

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Re: Hello all
« Reply #3 on: February 26, 2017, 12:23:51 PM »
Hi Caycho, and welcome to MMM! 

Just wanted to draw your attention to a potential resource, if you aren't already aware of it.  One of the long-time forum members, Nords, is the author of this military guide to retirement:

http://the-military-guide.com/

There are also other military members around the forums, so if you ever want to seek their advice about things military, make sure you post with a thread title that makes that clear, and I'm sure they'll chime in!
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Nords

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Re: Hello all
« Reply #4 on: March 04, 2017, 10:15:31 AM »
Thanks, PJ!

Quote from: Caycho on February 26, 2017, 01:52:07 AM
Hello everyone first post here!
A lil about my self, i'm 21 almost 22 this april im currently active duty Air force. My plan right now is to achieve FI/RE at 41 because this is also when I can retire from the military. Nice meeting you all!
Welcome to the forums, Caycho!

Quote from: esskay1000 on February 26, 2017, 04:38:49 AM
Great plan, I work with many active duty and retired military folks. The retired ones who are now collecting their military retirement and a nice civilian salary are set - if they started planning as early as you are they wouldn't really have to work at all. Good luck!
A military pension plus a bridge career paycheck is definitely overkill if these people had started out at a high savings rate. 

Caycho, if you save at least 40% of your gross pay for at least 17 years then you won't even need the military pension, let alone the civilian job.  40% now might be difficult to reach (that depends on your rank and specialty pay) but do the best you can with what you have and keep saving/investing:
http://the-military-guide.com/how-many-years-does-it-take-to-become-financially-independent-2/

(Note for the rest of the readers:  that post is just math, and the math works for civilians as well as servicemembers.)
 
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PJ

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Re: Hello all
« Reply #5 on: March 04, 2017, 12:08:52 PM »
Quote from: Nords on March 04, 2017, 10:15:31 AM
Thanks, PJ!

Sure thing!  Glad you saw the post anyway!
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Erica

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Re: Hello all
« Reply #6 on: March 05, 2017, 05:07:09 PM »
In the military for 20 years eek

Stay in counseling! lol

Nice to meet you
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Kiwi Fuzz

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Re: Hello all
« Reply #7 on: March 06, 2017, 12:35:06 PM »
Welcome! :)

I wish I had it together enough to know about FIRE at 21. I wish you all the best!
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