Thinking about it?

[CommunityEditor]

Have you considered taking the redux bonus?

[Rev Mike Large]

I'm coming up on 14 years soon, so it'll be time to make that decision official before too much longer. But the decision has always been simple in my mind. No way am I taking that bonus! It's a sucker's bet unless you're betting that you'll die right after retiring. I guess if my family was drowning in debt, we might consider it -- but I think anyone who makes good financial decisions would agree that the bonus is not worth it. Another $200-$300 per month, inflation-adjusted, for the rest of one's life amounts to way more than that one-time bonus minus 28%.

[Bleedblue]

Originally Posted by Rev Mike Large

I'm coming up on 14 years soon, so it'll be time to make that decision official before too much longer. But the decision has always been simple in my mind. No way am I taking that bonus! It's a sucker's bet unless you're betting that you'll die right after retiring. I guess if my family was drowning in debt, we might consider it -- but I think anyone who makes good financial decisions would agree that the bonus is not worth it. Another $200-$300 per month, inflation-adjusted, for the rest of one's life amounts to way more than that one-time bonus minus 28%.

I took it, payed off all my debt, minus my house and car payment. Left me 10,000 to invest in a roth IRA and stocks/mutual funds. I have more money each payday, and yes I have stayed out of debt since, and will, with the exception of a house and car payment. I plan on going past 20, so I will get my numbers back up. If you stay in 30, you get 75% anyways,...true you loose the annuall COL upgrade, UNTILL age 62 then it bumps it back up.So, I reduced my debt, invested 10,000 and have more money in my pocket every payday during this horriable economic time....Sucker's Bet. Guess so....(28% tax yes....you also get some of it back when you file your tax return) I also have another 10-15 years left in depending if I go 25 or 30 yrs service. My money is working for me now plus I am adding to it for the rest of my time in.
If you retire at 20, count on getting another full time job/career. But....you have to think about your goals and whats best for your situation.

[Cornbreadrules]

I took it, payed off all my debt, minus my house and car payment. yes I have stayed out of debt since, and will, with the exception of a house and car payment!

Your still in debt, if you have these two debts! Sounds like Congress, I have stayed out of debt but still have two loans I am paying on!

[Bleedblue]

Originally Posted by Cornbreadrules

I took it, payed off all my debt, minus my house and car payment. yes I have stayed out of debt since, and will, with the exception of a house and car payment!

Your still in debt, if you have these two debts! Sounds like Congress, I have stayed out of debt but still have two loans I am paying on!

OK, were gonna split hairs ?
BAH covers my housing...I come a little out of pocket for utilities.( blame congress...where is the "zero out of pocket expense for housing " weve all heard about)
Car payment- sure I could drive a peice of shit, with no warranty..but I have a wife and child so I bought a new car in 2007 when I got back from overseas.

[Capt Alfredo]

Originally Posted by CommunityEditor

Have you considered taking the redux bonus?

Not a chance. Just hit 18 and have to do 22 to retire as an O. One more tour after this one and bye-bye USAF.

[Bleedblue]

Originally Posted by Capt Alfredo

Not a chance. Just hit 18 and have to do 22 to retire as an O. One more tour after this one and bye-bye USAF.

Not to Hate, but you guys get pretty fat pay. I mean comon, what does a non-flying LT do to earn MSgt pay to start with....? I am just saying.....

[Capt Alfredo]

Originally Posted by Bleedblue

Not to Hate, but you guys get pretty fat pay. I mean comon, what does a non-flying LT do to earn MSgt pay to start with....? I am just saying.....

No doubt. I think enlisted should get paid more. And it's criminal that an Lt gets paid more than a SNCO. Just one more thing I would change if I were king.

[Bleedblue]

Originally Posted by Capt Alfredo

No doubt. I think enlisted should get paid more. And it's criminal that an Lt gets paid more than a SNCO. Just one more thing I would change if I were king.

Good to hear...thought you would knock my head off.

[Capt Alfredo]

Originally Posted by Bleedblue

Good to hear...thought you would knock my head off.

I did 12 as an E. I remember not making a heck of a lot of money. I did ok, but once I made the decision to make it a career, a switch to the dark $ide was in order.