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Military isn't paid too badly once you factor in pensions and benefits. The amount of salary that you'd have to save to construct something similar out of 401ks
by FooBarBizBazz 5y ago
Military isn't paid too badly once you factor in pensions and benefits. The amount of salary that you'd have to save to construct something similar out of 401ks is... high.
- CobaltFire 5y agoI don’t think many people understand just HOW high. Aside from monetary compensation (which can range widely, and typically is made up of 25-50% tax sheltered disability pay) there is health insurance at a maximum out of pocket of $3600/year for a family ($600 premium plus $3000 catastrophic cap), tax free shopping, discounted fuel, free flights, remarkably cheap lodging all over the US and in allied countries, and the list goes on. The last calculation I saw for an average Senior Enlisted retiree was that you would need a lump sum of in excess of $3 million to hope to compare, invested at a decent return. Albeit that’s not completely accurate, but it’s as close as we can get given such different financial vehicles.
- blinding-streak 5y agoThe downside is that you have to serve in the military.
- jwogrady 5y agoServing ain't the bad part. Dying would have sucked.