Deechristophermagic
What is a military retirement worth?
The military estimates that the net present value of its pension at retirement is around $200,000 for an enlisted soldier and $700,000 for an officer. (Recall, however, that the payouts are guaranteed for life, so the risk-adjusted value is worth much more.)
Consequently, can you join the army in debt?
Excessive debt obligations that exceed half of the annual salary of the pay grade of the recruit can prevent enlistment. If debt includes mortgage debt, the total debt must not be more than two-and-a-half times the annual salary of the recruit. How do I survive on military pay? Dip into Emergency Savings. Speak to Your First Sergeant or Contact Your Service Aid Society. Work with Your Creditors. Communicate with Your Landlord. Raise Cash ? Take on Extra Work, Sell Things, etc. Use a Military Bank ? They Are Often Willing to Work with Military Members on Pay Issues.
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