jimbohoward69
Recycles dryer sheets
- Joined
- Feb 25, 2007
- Messages
- 70
Hello everyone! My name is James. I've been a long time lurker but have finally decided to take the plunge and post. Since my post will consist of more than an introduction, I decided to use the FIRE and Money forum as my means of initial communication. (Moderators, I hope that's O.K.)
First off, I just wanted to say that I FINALLY hit the $100,000 mark in savings/investments yesterday. It's an amazing feeling looking at my Quicken Homepage and seeing a total that is six figures. I've read numerous threads here that have stated that the first 100 grand is the hardest...well, let's hope that is truly the case I do not or have ever owned a home. My net worth has been accumulated by investing in stocks/mutual funds only.
I am currently 38 years old and in the U.S. Air Force. My "retirement" date (20 years of service) will fall on June 1st of 2009. However, if I happen to get promoted to the next rank (which is a very real possibility), I will have to give the AF 22 years of service if I choose to accept the promotion. This decision is what has caused me to have some sleepless nights lately.
The promotion breakdown is simple...give the AF two more years AFTER my 20 year point and in return, receive approximately $600 more per month for those two years and an additional $300 per month in pension income (for the rest of my life). As I'm sure most of you might have heard, a military pension is not something you can live on for the rest of your life...it will more than likely have to be supplemented by a secondary career afterwards. Another factor to consider is this...my thoughts towards being a miltary member have radically changed in the past 3-4 years and I don't think I like it anymore.
Do any of you think the extra income per month (both during the active duty and retirement) outweigh having to put up with another two years of military service? (This question might make more sense to someone with prior military service). Nonetheless, here's another opinion question for the entire forum:
Is starting a new job search at 39 anymore of an advantage than starting one at 41? I am currently six months away from FINALLY acquiring a Bachelors Degree in Business Administration (Finance).
Well, at any rate, I'm SO glad I found this forum and look forward to picking your collective brains in the future.
Thanks!
James
First off, I just wanted to say that I FINALLY hit the $100,000 mark in savings/investments yesterday. It's an amazing feeling looking at my Quicken Homepage and seeing a total that is six figures. I've read numerous threads here that have stated that the first 100 grand is the hardest...well, let's hope that is truly the case I do not or have ever owned a home. My net worth has been accumulated by investing in stocks/mutual funds only.
I am currently 38 years old and in the U.S. Air Force. My "retirement" date (20 years of service) will fall on June 1st of 2009. However, if I happen to get promoted to the next rank (which is a very real possibility), I will have to give the AF 22 years of service if I choose to accept the promotion. This decision is what has caused me to have some sleepless nights lately.
The promotion breakdown is simple...give the AF two more years AFTER my 20 year point and in return, receive approximately $600 more per month for those two years and an additional $300 per month in pension income (for the rest of my life). As I'm sure most of you might have heard, a military pension is not something you can live on for the rest of your life...it will more than likely have to be supplemented by a secondary career afterwards. Another factor to consider is this...my thoughts towards being a miltary member have radically changed in the past 3-4 years and I don't think I like it anymore.
Do any of you think the extra income per month (both during the active duty and retirement) outweigh having to put up with another two years of military service? (This question might make more sense to someone with prior military service). Nonetheless, here's another opinion question for the entire forum:
Is starting a new job search at 39 anymore of an advantage than starting one at 41? I am currently six months away from FINALLY acquiring a Bachelors Degree in Business Administration (Finance).
Well, at any rate, I'm SO glad I found this forum and look forward to picking your collective brains in the future.
Thanks!
James