thedrifter
12-31-03, 02:00 PM
Planning for Tomorrow, Today
Submitted by: MCAS Miramar
Story Identification Number: 20031230184845
Story by Staff Sgt. Maria C. Brookman
MARINE CORPS AIR STATION MIRAMAR, Calif. -- A sad reality that many Marines face when deciding to leave the Marine Corps is not having the financial resources to support the same standard of living they had while on active duty.
Regardless of age, time in service or direction a servicemember's career takes, it's important to plan for economic success before the uniform is hung up for the last time.
Former Marine Sgt. Michael S. Honeycutt of Marine Aviation Logistics Squadron 11, left active service in July 2000 because he felt "generally disgruntled and disillusioned with the Marine Corps."
"Marines I knew...were getting (selected) for recruiting duty and I really didn't want to be a recruiter. We kept hearing about the booming economy and how much money there was to be made as a civilian so rather than gamble with recruiting duty, I got out to try my hand at civilian life," said Honeycutt.
Honeycutt, who currently resides in Woodbury, Minn., was fortunate enough to receive his last Marine Corps paycheck the same weekend he received his first civilian salary and was financially secure through his transition. However, he does admit that he is behind the power curve when it comes to long-term finances.
"I wish I had set up a (savings allotment) of $100 or so per month that I didn't touch until I got out. Many young Marines feel strapped for cash ... and the idea of putting away one or $200 a month seems ludicrous," he said. "Looking back though it wouldn't have been that hard and the benefits of saving far outweigh the temporary hardship."
Gunnery Sgt. Rex L. Stark, Marine Aviation Logistics Squadron 16 assistant maintenance chief, begins terminal leave in April 2004 and has been investing his money in savings bonds for the last 19 years. He knew that retirement was on the horizon and is preparing for the next phase in his life.
"My goal has always been to have two months terminal leave and go straight into a job," commented Stark, a native of Kansas City, Mo. "I still have to work again (so I don't have to) touch the other money. Over the course of the last two years, I have been trying to pay things off and get myself squared away. I still have bills, but they're not that bad compared to what they were five years ago."
Sound financial planning and education on different money matters is key to successfully saving for your future. Some commands aboard the station have their own command financial specialist to assist Marines at the unit level.
Gunnery Sgt. Raymond L. Detmers has been the MALS-16 command financial specialist for two years and provides briefs to new Marines in the squadron on financial responsibility and programs such as the Thrift Savings Plan.
"NCOICs know they can send Marines to me for one-on-one counseling. If I can't help them I send them on to the Marine Corps Community Services Counseling Center for further assistance."
To find more information regarding financial planning, contact your unit's command financial specialist or the MCCS Counseling Center at 577-9802.
http://www.usmc.mil/marinelink/mcn2000.nsf/main5/4CCD3DE2940B854A85256E0C0082CE7C?opendocument
Sempers,
Roger
:marine:
Submitted by: MCAS Miramar
Story Identification Number: 20031230184845
Story by Staff Sgt. Maria C. Brookman
MARINE CORPS AIR STATION MIRAMAR, Calif. -- A sad reality that many Marines face when deciding to leave the Marine Corps is not having the financial resources to support the same standard of living they had while on active duty.
Regardless of age, time in service or direction a servicemember's career takes, it's important to plan for economic success before the uniform is hung up for the last time.
Former Marine Sgt. Michael S. Honeycutt of Marine Aviation Logistics Squadron 11, left active service in July 2000 because he felt "generally disgruntled and disillusioned with the Marine Corps."
"Marines I knew...were getting (selected) for recruiting duty and I really didn't want to be a recruiter. We kept hearing about the booming economy and how much money there was to be made as a civilian so rather than gamble with recruiting duty, I got out to try my hand at civilian life," said Honeycutt.
Honeycutt, who currently resides in Woodbury, Minn., was fortunate enough to receive his last Marine Corps paycheck the same weekend he received his first civilian salary and was financially secure through his transition. However, he does admit that he is behind the power curve when it comes to long-term finances.
"I wish I had set up a (savings allotment) of $100 or so per month that I didn't touch until I got out. Many young Marines feel strapped for cash ... and the idea of putting away one or $200 a month seems ludicrous," he said. "Looking back though it wouldn't have been that hard and the benefits of saving far outweigh the temporary hardship."
Gunnery Sgt. Rex L. Stark, Marine Aviation Logistics Squadron 16 assistant maintenance chief, begins terminal leave in April 2004 and has been investing his money in savings bonds for the last 19 years. He knew that retirement was on the horizon and is preparing for the next phase in his life.
"My goal has always been to have two months terminal leave and go straight into a job," commented Stark, a native of Kansas City, Mo. "I still have to work again (so I don't have to) touch the other money. Over the course of the last two years, I have been trying to pay things off and get myself squared away. I still have bills, but they're not that bad compared to what they were five years ago."
Sound financial planning and education on different money matters is key to successfully saving for your future. Some commands aboard the station have their own command financial specialist to assist Marines at the unit level.
Gunnery Sgt. Raymond L. Detmers has been the MALS-16 command financial specialist for two years and provides briefs to new Marines in the squadron on financial responsibility and programs such as the Thrift Savings Plan.
"NCOICs know they can send Marines to me for one-on-one counseling. If I can't help them I send them on to the Marine Corps Community Services Counseling Center for further assistance."
To find more information regarding financial planning, contact your unit's command financial specialist or the MCCS Counseling Center at 577-9802.
http://www.usmc.mil/marinelink/mcn2000.nsf/main5/4CCD3DE2940B854A85256E0C0082CE7C?opendocument
Sempers,
Roger
:marine: