Thinking about joining the military.
Out of curiosity ONLY: investing has nothing to do with my will to join, but what strategies can you use as part of the military?
VA loan is a huge advantage. I bought a property at each duty location I lived at and have done quite well. The loan limit is being removed in 2020.
Also, the medical benefits are pretty great.
@Jake Greener . Join the military because you want to serve your country my man.
The VA Loan is a hard fought and well deserved benefit to that.
@Brian Garlington completely agree, that’s why I put it in the post!
Funny, when I joined the military the drill sergeant asked everyone why they joined. ONE guy said it was for love on country, and he was teased for it. That just aint why the majority of people join
Also, the VA loan is a DECENT advantage for primary home buyers but not great and often highly overrated, it often gets people into more trouble than it helps as well. It lets you buy a house with 0% down, that's ALL, and buying a house with zero equity isn't that smart of an idea to begin with.
Joining the military for economic and social opportunity isn't a bad idea, but real estate benefits are quite limited.
the VA loan is often a trap for new investors:
Each branch of the military is different and has pros and cons. Same goes for the NG and Reserve. Different cultures, different benefits, different opportunities.
1. You can do some cool things that you won't ever be able to do on the outside. The best way is to get a lot of them is to have them written into your initial contract.
2. The military is the easiest way to get a security clearance. If you're thinking about working for the government, or as a government contractor, or even want to have that option open-- look for a specialty where it's a requirement.
3. There are a lot of education opportunities available. It's pretty easy to get an associates degree for free while you're in, and there are opportunities for technical certifications if you look. With the right contract, you can get your education paid for (or, if you don't use the benefit, you can pass it to your spouse or kids even if you don't have them yet). There's also language schools and other things. If you learn or already speak another language the military values, you can get paid for that. I know several Soldiers who get paid for two or three languages.
4. The leadership training opportunities are great. You will work for a lot of different supervisors with different styles. You'll also get opportunities to lead. This gives you a chance to see what works and what doesn't work for you when you're in a leadership position down the road. Learning to lead is not an insignificant skill.
5. The health insurance is better than almost anything you'll get on the outside. This is true whether you are active duty or NG/Reserve. This will make your expenses more predictable-- especially if you have a family or your family is growing.6. The military makes it easy to save as long as you control yourself. Sometimes you are on a forced savings plan (i.e. deployment), sometimes you can pocket your housing allowance by living with a bunch of other guys off post, plus you can always eat in the chow hall.