What Are The Benefits Of Joining The Army Reserve – Home Military Careers and Military Career Transitions Why Should I Join the Army? 11 reasons why the military is a great career choice
There are many reasons to join the military, including salary, benefits, education, training, travel, high-paying jobs, health care, and more. But it’s not for everyone. Learn more about joining the military.
What Are The Benefits Of Joining The Army Reserve
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Have you ever thought about joining the military? The benefits of joining the military may be enough to convince you to take the plunge. If you have not considered joining the military, then consider this article as a primer on some of the benefits that may be available to you if you decide to take the next step.
Whether you’re thinking of the military because of a sense of patriotism or duty, for action and adventure, or for a steady job, there’s something for everyone. Here are 11 reasons why the military could be good for you.
“There is no greater calling than to serve your fellow man.” There is no greater contribution than helping the weak. There is no greater satisfaction than doing it well. ” (source).
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This quote sums up what it means to serve. When you join the military, you learn the true meaning of service.
Becoming a veteran makes you an automatic member of one of the oldest clubs in the world. It’s easy to share stories and memories with other members of this special group, and it can help you get accepted, join a club, find a job, and get other benefits. Being a veteran is something no one can take away from you.
If you’re looking for a job, consider the military, which continues to offer jobs to those who are medically and academically qualified and who don’t have a major criminal record.
New second lieutenants start at more than $39,000 a year plus full benefits, not including additional monthly allowances.
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Recruiting and recruiting bonuses can exceed $20,000. Student loans can be taken out up to $65,000. The military is also one of the few places where you can get a full pension after serving 20 or more years.
Military retirement pay can be as high as 50-75% of the average of the last three years of your base pay (for legacy High-3 retirement plans). In some cases you may receive more than 75% of your base salary upon retirement.
The new Combined Retirement Scheme (retirement plan for all members who joined after January 2, 2018) offers a slightly different retirement multiplier with matching contributions to frugal savings plans of up to 5% of your basic salary. TSPs are like civilian 401(k) plans.
Military members are entitled to full health care for themselves and their immediate families as soon as they enter service. If you stay until retirement, you and your family can take these benefits with you when you leave the military. This health benefit includes the immediate family (ie spouse and children and sometimes dependent parents). You may also be eligible for temporary military health benefits after you leave the service.
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The military provides advanced technical training in a variety of career fields and also offers opportunities for additional training when you are off duty. Many soldiers are able to attend college which is often paid for with tuition assistance. You can use your training opportunities to advance your career, earn a certificate or degree, or prepare to return to civilian life.
Military leadership is a great way to get your resume on top of the pile for your next career. If you were to hire someone, would you hire someone with proven skills and experience and a degree or a high school/college graduate? Give me an experienced professional any day of the week! (More tips for creating your post-military resume).
The military has installations all over the world and pays to get you and your family there and back. Your off-duty time is yours and you can travel freely. The military provides 30 days of paid leave per year, excluding weekends and federal holidays.
The military also owns several resorts around the world, including Hale Koa Resort in Hawaii, Shades of Green at Disney World in Florida, and resorts in Japan, Germany and South Korea. Most large military facilities also have base accommodation (military hotels), where you can stay in free space for less than off-base hotel prices.
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You may be able to skip the military and fly for free if there are seats available. A military jump is a scheduled military flight that can carry passengers based on available space (also known as Space-A). These tickets are free or for a minimal fee (such as $5 or a fee charged at the airport).
Reasons to join the military extend your initial time in the service. Many veterans benefits are available to former members of the military long after they leave active duty or the reserves.
The new GI Bill pays veterans who have served at least 36 months a monthly living stipend and fully paid college tuition after they leave the military. Depending on how long a service member commits, the post-9/11 GI Bill can be given to spouses and children.
The Office of Veterans Affairs offers veterans a way to buy a home with no money down through a VA loan. This makes it easier to buy a home while serving or after you leave the service.
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Military members receive a lifetime pension based on the average of their highest three-year basic pay. Military retirees in the top 3 retirement system receive 2.5% of their base pay for each year of service. So 20 years of service will equal a pension of 50% of the highest three years’ basic salary (25 years will be 62.5%, 30 years will be 75% etc.).
Members participating in the new Joint Retirement System (BRS) use the same calculation, except that they use a multiplier of 2.0% instead of 2.5%. So, retirement in 20 years will be 40%, 25 years will be 50%, and 30 years will be 60%. However, there are two big pluses: the first is matching TSP contributions up to 5% of your base salary, which allows you to have a portable pension when you leave the military, even if you don’t reach retirement. The second is the Continuation Pay Bonus, which is a mid-career cash bonus to extend your service commitment.
A police officer with 20 years of service earning more than $100,000 a year can retire with a pension of more than $48,000 a year to live in his 40s and start a second career. Imagine earning more than $4,000 a month for the rest of your life, starting at age 42. This equates to a cumulative salary of $480,000, $960,000, $1.4 million over 10, 20, and 30 years, in addition to having full health coverage from another job and income from another job. Those figures do not include annual cost-of-living adjustments, which increase your monthly pension each year.
Enlisted members earn slightly less than officers. However, the pension is based on the same formula and receives the same COLA increase every year. So you can easily run the numbers and get a rough estimate of the potential pension. For example, a pension of $2,500 a month is worth $30,000 a year. It’s worth $300,000, $600,000 or $900,000 over 10, 20 or 30 years.
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When you add COLA, it’s easy to see that 30 years of pension payments is worth $1,000,000 or more. And that doesn’t include your other retirement benefits, like military medical care and more.
One of the reasons many people don’t consider the military is the perception of a high death rate. This is mainly caused by the media. The reality is that many military specialists are no more dangerous than their civilian counterparts. Your industry and your career will go a long way in determining the risks you will be exposed to.
Military members may be eligible for VA service-connected disability benefits if they are injured or ill while serving in the military. Obtaining a VA disability rating makes the veteran eligible for lifetime disability benefits.
In the unlikely event of a service member’s death, the military or VA provides a lifetime benefit
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