Leaving The Marine Corps A Millionaire. [Archive] - Marine Corps

1topher

01-10-09, 05:34 AM

Covey_Rider

01-10-09, 08:51 AM

Haha...don't get married.

CH53MetalMan

01-10-09, 11:16 AM

If your goal is to accumulate vast sums of fiat currency in 'Federal Reserve Notes' since that is what is currently being passed of as U.S. dollars, the last thing you should do is enlist in the Armed Forces.

DarrinC

01-10-09, 12:22 PM

Yeah I believe its called the TSP, or Thrift Savings Plan. I keep hearing that if you put 10% of your paycheck into it, when you retire at 20 years you should have close or over 1 million dollars. I don't know people who have done this but I figured it is worth a shot. I like it because it takes my money out straight from my paycheck. The way I look at it is I can't miss it if I never had it, plus my wife never knew about it haha.

MitchellS

01-10-09, 01:11 PM

Simple fact: If you are consistent in your savings, starting very early in your working life, you can do this in any career. However, since the military will provide you with all the basic necessities of life (food, clothing, shelter) there is opportunity to put a larger percentage of your salary in savings.

PLUS: you are serving a cause greater than yourself! Semper Fi! (and this old fart wishes a lot of times I had done this myself)

Quinbo

01-10-09, 02:01 PM

I can not see a mathmatically possible means of saving a million dollars over the course of a military carreer without some serious monatary dicipline and never having a hardship, new truck, engagement ring, honeymoon, vacation or anything else coming up over the course of your entire military carreer (enlisted, maybe general officers have the means to put away much more).

Some serious intelligent investing and a little luck might get you a good bank account.

If you start as a private putting $1,000 a month into an interest bearing savings account and do so every month over an entire 30 year carreer including interest you would have about $400,000 on retirement day. If above and beyond that you invest in TSP 10% of your base pay from day one till the day you retire you will have the equivilant of a 401K and averaging, over the course of a military carreer from E-1 to E-9, $300 a month invested wisely would maybe add another $125,000 to your grand total. With a retirement check, disbursements from TSP and interest from your $400,000 (after taxes on all of course) you could live well. It would still fall short of the millionaire status in liquid assets. This will leave of course with the memories of living in the barracks for 30 years, never owning a car, and never going out in the town with the boys in exotic ports.

There are bonuses and additional combat pay etc. that could increase your spending cash. I applaud your plan and hope you succeed!

marinecorpsvet

01-10-09, 08:59 PM

Ok, I see every one has their own plans how to get rich in the Corps. Here's mine: I spent 20 years in, coming in when I was 17 and retiring when I was 37. During that time I drank as much beer as possible and spent all my money on foolish things, cheap beer, and cheap women. That was the first part of my plan, cause it worked out great, no problems.
Now comes the 2nd part of my devious plan to get rich. Get this: I get a check every month for the rest of my life, right? If I live to be like, 106, I would of gotten more money from the Corps than what I'm worth. And, I figure, I can still spend it foolishly and drink cheap beer till I'm at least...88. Then the kidneys shut down and you become worm dirt. But, if I cut back my drinking when I'm 72, I'll make it to 106.
Great freaking plan, Eh? No scrimping or saving, just a lot of hangovers, a few sexually transmitted diseases, and one hell of a smile when I do die.

outlaw3179

01-10-09, 09:02 PM

Ok, I see every one has their own plans how to get rich in the Corps. Here's mine: I spent 20 years in, coming in when I was 17 and retiring when I was 37. During that time I drank as much beer as possible and spent all my money on foolish things, cheap beer, and cheap women. That was the first part of my plan, cause it worked out great, no problems.
Now comes the 2nd part of my devious plan to get rich. Get this: I get a check every month for the rest of my life, right? If I live to be like, 106, I would of gotten more money from the Corps than what I'm worth. And, I figure, I can still spend it foolishly and drink cheap beer till I'm at least...88. Then the kidneys shut down and you become worm dirt. But, if I cut back my drinking when I'm 72, I'll make it to 106.
Great freaking plan, Eh? No scrimping or saving, just a lot of hangovers, a few sexually transmitted diseases, and one hell of a smile when I do die.

LOL...OUT******STANDING !!! KILL !

SEMPER FI MARINE!!!!!

sleeper

01-12-09, 05:52 PM

I invested in things that people needed. I didn't have TSP when I was in from 83 - 2004. I did invest in utilities, electric companies and a few oil stocks. I bought and held. I bought yahoo when it was first introduced. FLopped that over into land - farm land. People need to eat, land is the best investment by far.

Every cash back from taxes I invested over half. Never drove a fancy car, just one to get me from A to B. Didn't eat out a lot, did enjoy the occassional beer.

Didn't have a million when I retired, but two years later I had three! All in land and utilities.

echo3oscar1833

01-12-09, 07:56 PM

I can not see a mathmatically possible means of saving a million dollars over the course of a military carreer without some serious monatary dicipline and never having a hardship, new truck, engagement ring, honeymoon, vacation or anything else coming up over the course of your entire military carreer (enlisted, maybe general officers have the means to put away much more).

Some serious intelligent investing and a little luck might get you a good bank account.

If you start as a private putting $1,000 a month into an interest bearing savings account and do so every month over an entire 30 year carreer including interest you would have about $400,000 on retirement day. If above and beyond that you invest in TSP 10% of your base pay from day one till the day you retire you will have the equivilant of a 401K and averaging, over the course of a military carreer from E-1 to E-9, $300 a month invested wisely would maybe add another $125,000 to your grand total. With a retirement check, disbursements from TSP and interest from your $400,000 (after taxes on all of course) you could live well. It would still fall short of the millionaire status in liquid assets. This will leave of course with the memories of living in the barracks for 30 years, never owning a car, and never going out in the town with the boys in exotic ports.

There are bonuses and additional combat pay etc. that could increase your spending cash. I applaud your plan and hope you succeed!

As much as I enjoy saving my money as much as the next person, that would totally defeat the entire concept of being a Marine. Heck when you think about it. Crazy Nights, Crazy Women, A Monday Morning STD Test, Tons of Booze, and a occasional trip to the strip club out the back gate. What more could a Marine ask for. I enjoyed those days, wouldn't trade it for a 1,000,000 bucks. However Im sure my liver would:D

sleeper

01-17-09, 05:56 AM

My first reenlistment bonus was $30K - spent 5% invested the rest.

sleeper

01-17-09, 05:58 AM

Oh yea - before I became anchored (married) I worked for Honeywell part time on the weekends installing their electronic equipment - fire alarms, security systems. When I PCS to a new area I found other places to work.