I’m in the military, lower enlisted, I won’t say which branch specific but I enlisted right after highschool with around 3k to my name. The military was my only option, I joined out of the blue but I knew I needed to save. You heard me right… save. I beat myself up because I never started investing until late last year, this is the reason why I have 60k in “cash” , the cash is mostly in CDS getting eaten up by inflation.
I’m nearly done with my four years, people looked at me like I was weird, crazy or insane for my sense of determination I had to reach 100k, even getting an associates degree while I am full time military. Days consisting of work, get off work, do school work, go to sleep.
The point I’m trying to make here, is that if you just joined or you are having financial issues and you are reading this, you’ve got what it takes to do just as I did.
However it did not come easy, broke a couple bones, acquired some mental conditions along the way, but all in all, I wouldn’t have wanted to spend my four years any where else.
Altogether, I’ve acquired 111k, an associates, and benefits im going to take full advantage of.
Anyways, I’d love to hear some investing recommendations, going to go get my bachelors and masters paid for by the GI bill when I get out here soon.
22M The Race to 100k (Military Edition)
byu/BigRecommendation690 inMilitaryFinance
Posted by BigRecommendation690
2 Comments
Depends if you are a DCAer or lumper, but for DCA, you can set up allotments to go straight into IRA and brokerage accounts. Also, deployments with good per diem are probably the best way (besides bonuses) to jumpstart a financial journey and get to the first 100k really quick. Good job btw.
How did you reach 100k?