We saw our oldest off to Navy basic training today...

[G POP]

Yes- that's our younger son who is nearly 18 and about to graduate high school. He isn't sure what he wants to do next- wasn't it sneaky of me to insist he come with us? He likes to travel- he only needed an invitation. Thanks for the insoles tip!

Tell your younger son to join the Marine Corps then listen and watch the rivalry develop. It's sort of amusing. Congrats on being a military mom. This Marine is glad to know our Uber ranks (US Navy) are being replenished.

 

[ugeauxgirl]

Update- The medical hold dragged on longer than we expected, but everything turned out fine. He made it to Charleston, and began A school. He hates mandatory study hall so has been motivated to keep his grades up. The first section was easy, but its getting harder. He's being asked to "star re-enlist" which we've cautioned him about. They're offering him 120k plus preferred promotions (I don't know the terminology) to reenlist for 2 years of shore duty. He has a while to think about it though. If his scores well on his next test he'll be able to come home for memorial day weekend. If not, he has study hall again. He's also hoping he can take his car back with him. If not, we'll get it to him in June.

 

[Lewis Clark]

Thanks for the update. I had been wondering how he was doing.

Few people like mandatory study hall. Many students would fail if they were not forced to study to some degree.

I'd be cautious about re-enlisting until after he has spent some time at sea. Shipboard life is not easy and it is not for everyone. Signing up for more sea time before being at sea is something some folks regret. If the additional two years is guaranteed to be all shore duty the tradeoff becomes more appealing.

 

[ugeauxgirl]

I forgot to say that he invested his signing bonus as soon as it hit his bank account. He's learning all about market volatility!

 

[mebden]

I forgot to say that he invested his signing bonus as soon as it hit his bank account. He's learning all about market volatility!

That is great learn early and then when it goes back up, he sees how the compounding works and then the next time it tanks he remembers and that he has years of investing ahead of him but will work to his advantage starting young

 

[ugeauxgirl]

Thanks for the update. I had been wondering how he was doing.

Few people like mandatory study hall. Many students would fail if they were not forced to study to some degree.

I'd be cautious about re-enlisting until after he has spent some time at sea. Shipboard life is not easy and it is not for everyone. Signing up for more sea time before being at sea is something some folks regret. If the additional two years is guaranteed to be all shore duty the tradeoff becomes more appealing.

He has a year to accept the deal or not, which means he will still be in school. We've cautioned him that the reason it might be a limited time deal is that 3 years from now (after he has done the job), he might be less likely to take it. It's supposed to be shore duty but I don't know if they've guaranteed that.

 

[HawkeyeNFO]

Great to hear that he's doing well. We need more smart Sailors in the Fleet!

 

[Texas Proud]

Just a thought from someone who did not go military...

Also he needs to decide if this will be his career... IOW, signing up for a couple of more years gets you closer to a military pension... at some point the pension will be a big draw to stick it out for (IIRC) 20 years...

I remember way back when I was in HS I was thinking about Navy nuclear... it was 7 years... and I also wanted to go to college which would have been another 4... so would have now been 11 years or more than half way to pension... that would lead me to go the whole 20...

For an 18YO it is a big decision to go down a path that is longer than you have been alive... I passed on it...

 

[HawkeyeNFO]

Also he needs to decide if this will be his career... IOW, signing up for a couple of more years gets you closer to a military pension... at some point the pension will be a big draw to stick it out for (IIRC) 20 years...

I remember way back when I was in HS I was thinking about Navy nuclear... it was 7 years... and I also wanted to go to college which would have been another 4... so would have now been 11 years or more than half way to pension... that would lead me to go the whole 20...

For an 18YO it is a big decision to go down a path that is longer than you have been alive... I passed on it...

No, he doesn't have to decide if it's a career. He hasn't even started on his first boat yet. If he likes it, he should stay in. If not, find something else to do, and with his clearance and training, he'll have a ton of options. There are lots of folks getting out after 3 or 4 years, some after 15 years, and some stay until or beyond 20.

The pension system has changed too, so now there is less financial incentive to stay until 20. You can read about it here if you want: https://militarypay.defense.gov/BlendedRetirement/

ugeaux girl, I would highly encourage that he max out the TSP, at least up to the full matching amount.

 

[ncbill]

No, he doesn't have to decide it it's a career. He hasn't even started on his first boat yet. If he likes it, he should stay in. If not, find something else to do, and with his clearance and training, he'll have a ton of options. There are lots of folks getting out after 3 or 4 years, some after 15 years, and some stay until or beyond 20.

The pension system has changed too, so now there is a bit less financial incentive to stay until 20. You can read about it here if you want: https://militarypay.defense.gov/BlendedRetirement/

ugeaux girl, I would highly encourage that he max out the TSP, at least up to the full matching amount.

Active duty with under 20 years can move over to Guard/Reserve for pension...takes longer, of course.

 

[Texas Proud]

Yea, probably used wrong term... he does not have too, but should be thinking about it if he wants to stay in a certain number of years...

 

[Gumby]

Just a thought from someone who did not go military...

Also he needs to decide if this will be his career... IOW, signing up for a couple of more years gets you closer to a military pension... at some point the pension will be a big draw to stick it out for (IIRC) 20 years...

I remember way back when I was in HS I was thinking about Navy nuclear... it was 7 years... and I also wanted to go to college which would have been another 4... so would have now been 11 years or more than half way to pension... that would lead me to go the whole 20...

For an 18YO it is a big decision to go down a path that is longer than you have been alive... I passed on it...

When I started with the Navy at 18, I knew I was signing on for at least 9 years, but that's the one and only chance I had to get a college education, so that's what I did. And the first day I was eligible to leave, I did. Then I got to do what I wanted.

Some times we just have to suck it up if we really want to succeed.

 

[djsander]

Update- The medical hold dragged on longer than we expected, but everything turned out fine. He made it to Charleston, and began A school. He hates mandatory study hall so has been motivated to keep his grades up. The first section was easy, but its getting harder. He's being asked to "star re-enlist" which we've cautioned him about. They're offering him 120k plus preferred promotions (I don't know the terminology) to reenlist for 2 years of shore duty. He has a while to think about it though. If his scores well on his next test he'll be able to come home for memorial day weekend. If not, he has study hall again. He's also hoping he can take his car back with him. If not, we'll get it to him in June.

I did 6 years as an enlisted nuke from 79-85. This was when we still went to conventional “A” school. Our bonus at that time was 30k, promotion, for the extra 2 years. Don’t know if there was any guarantee of assignment. It usually occurred at the two year point, but had to have finished nuke school and prototype. We were told don’t reenlist until you get to your first ship/boat after prototype as you don’t know what you’re really in for. Good luck to him.

 

[ugeauxgirl]

No, he doesn't have to decide if it's a career. He hasn't even started on his first boat yet. If he likes it, he should stay in. If not, find something else to do, and with his clearance and training, he'll have a ton of options. There are lots of folks getting out after 3 or 4 years, some after 15 years, and some stay until or beyond 20.

The pension system has changed too, so now there is less financial incentive to stay until 20. You can read about it here if you want: https://militarypay.defense.gov/BlendedRetirement/

ugeaux girl, I would highly encourage that he max out the TSP, at least up to the full matching amount.

Thanks. I didn't realize they had changed the pension benefits. Ill read up on it.

 

[SnowballCamper]

The short version is that the 20 year retirement is 40% of high-3 pay instead of 50% of high-3 pay, but matching funds are now available in the TSP (they were not in the older system). The matching funds are generally portable. Also, lump sum payouts are available with a reduced annuity. Lots of other details at the link also.

 

[Lewis Clark]

It is important to note that the pension is based on a percentage of only the base pay.

Most military members get additional pay and allowances for things like:
housing (if living off base) allowance
food allowance
special duty pay such as sea pay or submarine pay

These extras can be substantial but they do not contribute to the pension calculations.

 

[ransil]

Update- The medical hold dragged on longer than we expected, but everything turned out fine. He made it to Charleston, and began A school. He hates mandatory study hall so has been motivated to keep his grades up. The first section was easy, but its getting harder. He's being asked to "star re-enlist" which we've cautioned him about. They're offering him 120k plus preferred promotions (I don't know the terminology) to reenlist for 2 years of shore duty. He has a while to think about it though. If his scores well on his next test he'll be able to come home for memorial day weekend. If not, he has study hall again. He's also hoping he can take his car back with him. If not, we'll get it to him in June.

I'm at NPTU at the moment just down the street from the school. my wife is on active duty for awhile.

 

[ransil]

It is important to note that the pension is based on a percentage of only the base pay.

Most military members get additional pay and allowances for things like:
housing (if living off base) allowance
food allowance
special duty pay such as sea pay or submarine pay

These extras can be substantial but they do not contribute to the pension calculations.

The extras are pretty good nowadays vs when we came into the navy , plus tax free.
my wife's BAH ( housing allowance ) is currently higher than our monthly pay was back in the late 80's early 90's

pension also includes healthcare after retirement for active duty , after 60 if a reservist, this is what has enabled us to "fire"