The army financial mystery ?

Question

Everyone says that army is no way for financial freedom and success. I want to know why people say this, I am a college grad and the only jobs out here pay between 30k and 40k starting off, and ur lucky if u get benefits i.e. 401k and healthcare. Ive looked at the annual salary charts for officers and they go from 37k to 80k in the first 4 yrs with promotions. You get benefits, and u can retire in 20yrs, not including the re-up bonuses.
Also when I look at the top paying jobs military jobs are never included and I know Majors to Brig Generals gross every bit of 80k -100k.
Ive served 4 and a half yrs in the reserve and from my perspective soldiers make pretty good money, its just they act childish and spend thier money like its going out of style i.e. cars, strip clubs, bars. so they have the perseption that they are broke. So how come I get the perseption that If I go active army Im going to be broke, or living a financialy mediocor life?

Answer 1

Officers get paid well from the start, enlisted people have to work their way up to great pay. My husband's been in for 18 years and is an E7. We have 4 kids and live comfortably. As an E4 in San Diego, it wasn't so great. The benefits are great if you live in an area with a decent cost of living. Living somewhere like Miami where there's no base, we don't get the commissary or exchange, we can't go to a military medical center, and MWR here is a joke. Living in San Diego, we would have starved without the commissary. Money in the military goes as far as someone will let it. Most kids right out of high school don't know how to budget or plan for the future and usually end up getting married too early. So yeah, life's rough for them. If we all started as O1s, I'm sure there wouldn't be so many complaints.

Answer 2

Because Enlisted make WAY less than officers - even as an officer the promotions aren't guaranteed (you have to earn them what a concept!) except through E-3/03, you work 24/7 most times (even in peace time it's not regular hours unless you're lucky) so your pay comes out less than it looks like, pay gets screwed up every time you move, etc. The pay is not commiserate with the service. If you are single it's awesome pay.
There are great benefits and blessings beyond serving others - Tricare/United Concordia are a pain ( hard to get appts, etc - they are after all an HMO and these days it's even harder to be seen on post) but they are a blessing in the end. You get to see the world (maybe - I've known people who've never left the midwest), meet great people and grow!
The bottom line is you should never join the military for the money - sure it a perk and job security is a given(unless you are a real screw up or selling drugs) - but the money will never compensate for the long hours, hard daily slog, deployments to war zones, family seperation, pay mishaps, stupid commanders , idiotic troops, etc. You have to be willing to serve for something bigger than yourself or you just plain won't last more than 4 years. If you are willing to serve others above and beyond then by all means join - it's a truly honorable way to serve.

Answer 3

You looke at the pay charts for Officers. Did you bother to look at the pay charts for enlisted personnel? My husband is an E-4 (E-5 select) and he takes home $900 every two weeks. He makes less than $20,000 a year. He made more as a civilian working as a garage manger. The pay for enlisted military is terrible. Most of us qualify for welfare and food stamps!
Yes, we get free healthcare but it's not always quality care. Dental is not freebut throuh United Concordia. Good Lck finding a dentist that will take that insurance. The co-pays are outrageous! All they cover is cleaning..God forbid you have a cavity.
We do not "blow" our money. We buy groceries, pay for car and renter's insurance, pay our car payment, and pay our bills. If we have $300 left at the end of the month after paying for everything...we are doing good.

You just dont know what th hell you are talking about. Officers are different from enlisted..we don't all make that kind of money.

Answer 4

I joined because of the fact i presumed it would help kick-initiate my existence, giving me marketable skills that would help me shelter a appropriate civilian job that i could desire to help a kin with. And definite, having 4 years interior the army seems marvelous on my resume and human beings might elect to hire me... if i could desire to stroll. Too undesirable the army flat out lied approximately their medical care. the army is ingesting itself alive clinging to old structures, and the sparkling meat gets at once chewed up for all they could make contributions and spit out. truly - Soldier who desires a cane and brace to stroll extra advantageous than 20 ft, needs to take a seat down after 2 hundred ft, and has been compensated a grand 10% incapacity from the army because of the fact 'the leg remains linked'.

Answer 5

you can do well starting off as an enlisted, my husband is retiring in 1 year from the Army with a Masters Degree, and $500,000 saved up over 20 years, so it all depend on your spending habits and how you let your money work for you. I know being in Officer isn't easy, because it's no guarantee that you will make it to General, because I see officers getting out of service everyday because of stress. as for soldiers spending money on cars, yes, they do that, but they are the ones who never stay in past 6 years, and I see alot of civilian people spending money the same way.
Again, you can be a civilian worker or a Soldier, your spending habits have alot to do with it, NOT the job.
and we are blessed that at 42, when he retires, he never have to work again, unless he wants to work, just to stay active.

he's an enlisted with 21 years of service at E-9

Answer 6

At the lower levels, you receive about 80% of what you should get for comparable civilian work, but you get extra benefits.

A General is comparable to a CEO of a corporation. I do tax returns for people who make several million a year for that level of work, and know that he is getting about 5% of the comparable civilian pay.

Still, it depends on you and what you want to do. You don't get a pension after 20 years of civilian work. So if you educate yourself and prepare, you can start a 2nd career later.

Answer 7

They earn their money and in a free democratic society, so they choose to spend it any way they want to, nobody forces them to go to bars or strip clubs, many have family and spend wisely.

You have to decide for yourself, and remember not all in the military are Officers!!!

Answer 8

Good question i am in the guard and i read on line that full time military pays about as much as civilian jobs for your age bracket the catch is you get more in benefits than you do in cash visa versa for civilian jobs....lol i agree with you on seeing soldiers spend money like there is no tomorrow!

Answer 9

When they say that, they are referring to the enlisted ranks.