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If I put in twelve more years, I should receive at least a thousand a month, but not until I turn sixty, although I thought it was sixty-five, so it is at least better than I had understood.
Our retention sergeant says you start receiving benefits once you complete twenty years.
Let's say I reenlist for six years, take the $12,000 bonus, and with six months to prepare, barring ridiculous mandatory on-line training, I prepare myself adequately to get promoted, make $6,000 a year, and then get promoted to Staff Sergeant four years later, one bonus for six years. That would total around a hundred thousand. I would be forty-nine. If I live to be eighty-four and receive $1,200 a month for twenty-four years, I would receive $345,600 in retirement. Arguably, the average of $8,333.33 I would make a year would technically be $37,133.33.
I can replace Guard pay with Saturday clients, right? What if I worked enough to put money in retirement?
With the goal of doubling the investment every twelve years, I calculated that I would need a 5.95% investment rate (pretty close to the rule of 72).
Three hours a week would cover drill pay, but I would need to work eight hours every weekend, and invest five-eights of it, in order to invest enough to yield as much as the Army retirement for twenty-four years.
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