Military Millionaires

Posted By Mr Wolf

Just imagine.

If you’re brave enough and willing, the Army can be a lucrative career.

You've served 20+ years in the military.  Been all over the globe.  From decent hotels to crappy tents in the mud and muck to 130-degree days in the desert.  All for what?

To retire as a millionaire?  How is this possible?  According to Sen Kerry and ilk, you can only get stuck in the military if you have no options.  And to retire as a millionaire?

Well, you certainly are not going to flash some Trump-level bling while you are in the service.  You might get to ride some of the most expensive vehicles in the world (M1 tanks) or fly your own private jet (think A-10 or F-22) but you don't own it.  But, according to this CNN blog entry, if you manage your money well and your career, you can quite readily retire in a very, very comfortable position.

What I particularly enjoyed about this article was the comments section- it was/is EXPANSIVE.  Amazing amount of input and stories here about service people, pay, and money.

...Matthew and Kristen met in 2004 while stationed at Ft. Bragg, and married a year and a half later. Now both 27, Matthew is training in Ft. Leonard Wood, Mo. to be a military police commander, while Kristen is training in Ft. Huachuca, Ariz. to be a military intelligence commander. Together they earn an annual salary of $133,000.

Folks, as you well know that's not pocket change.  While there are a lot of caveats and conditions with this, for others around the country, comparably for Captains that's not bad income.   That would place you in the upper nine percent of US household incomes. 

In 2006, the median annual household income was $48,201.00 according to the US Census Bureau

And guess what?  Race, religion, ethnicity, etc do NOT factor into the salary of these soldiers.  The Asian or Hispanic Captains will be making the same as these two.  The African-American couple wouldn't have to wonder if they're appropriately compensated compared to the others.  They are all the same, given years of service are the same.  Now, given their savings amounts, they're actually well ahead of most others.  I do question how much life insurance they have, and what they're paying.  I mean, SGLI should be far more than adequate to cover them.  Combined, they have over a million dollars worth of coverage for about 40 bucks a month (according to the article, they pay $160 a month for life insurance).  Why would they need more??

Anyway, enjoy the article and be sure to read the comments!!

-Wolf

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Comments

Military Millionaires

Just imagine.

If you’re brave enough and willing, the Army can be a lucrative career.

You've served 20+ years in the military.  Been all over the globe.  From decent hotels to crappy tents in the mud and muck to 130-degree days in the desert.  All for what?

To retire as a millionaire?  How is this possible?  According to Sen Kerry and ilk, you can only get stuck in the military if you have no options.  And to retire as a millionaire?

Well, you certainly are not going to flash some Trump-level bling while you are in the service.  You might get to ride some of the most expensive vehicles in the world (M1 tanks) or fly your own private jet (think A-10 or F-22) but you don't own it.  But, according to this CNN blog entry, if you manage your money well and your career, you can quite readily retire in a very, very comfortable position.

What I particularly enjoyed about this article was the comments section- it was/is EXPANSIVE.  Amazing amount of input and stories here about service people, pay, and money.

...Matthew and Kristen met in 2004 while stationed at Ft. Bragg, and married a year and a half later. Now both 27, Matthew is training in Ft. Leonard Wood, Mo. to be a military police commander, while Kristen is training in Ft. Huachuca, Ariz. to be a military intelligence commander. Together they earn an annual salary of $133,000.

Folks, as you well know that's not pocket change.  While there are a lot of caveats and conditions with this, for others around the country, comparably for Captains that's not bad income.   That would place you in the upper nine percent of US household incomes. 

In 2006, the median annual household income was $48,201.00 according to the US Census Bureau

And guess what?  Race, religion, ethnicity, etc do NOT factor into the salary of these soldiers.  The Asian or Hispanic Captains will be making the same as these two.  The African-American couple wouldn't have to wonder if they're appropriately compensated compared to the others.  They are all the same, given years of service are the same.  Now, given their savings amounts, they're actually well ahead of most others.  I do question how much life insurance they have, and what they're paying.  I mean, SGLI should be far more than adequate to cover them.  Combined, they have over a million dollars worth of coverage for about 40 bucks a month (according to the article, they pay $160 a month for life insurance).  Why would they need more??

Anyway, enjoy the article and be sure to read the comments!!

-Wolf

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