Comments on: Reader Case Study: Stationed in Japan with the US Marine Corps, Hoping to FIRE

By: Robin

Robin — Fri, 05 Jan 2024 16:26:47 +0000

In reply to Kat. Many cards, including the AmEx Platinum, waive the (hefty) annual fee for active duty military members, but you can still take advantage of all the perks. I'm a DoD civilian, and am jealous when I travel with my military co-workers. It would be worth running the numbers on staying in for 20 years to get the pension, as well as (potentially) him deploying to a higher-risk deployment for a year, which comes with a number of potential investment opportunities as well as pay bonuses.

By: Whitney

Whitney — Mon, 18 Sep 2023 16:03:07 +0000

In reply to Kat. Yes, my husband was active duty AF for 4 years and he has VA healthcare benefits for life.

By: Kat

Kat — Sat, 16 Sep 2023 05:10:09 +0000

In reply to Bryan B. Hi Bryan! I really appreciate your perspective. People clearly think we're crazy, too! We're only at 6 years and Jay was never on the 20 year path anyway. I guess I didn't make that clear in my post. It's either FIRE or new careers, not 14 more years in the military. It has definitely been a tough lifestyle for our relationship, for his health, and for my career trajectory, but we're making it work. I did have an interview yesterday. I've learned to be VERY flexible and know that there's always a new opportunity around the corner.

By: Bryan B

Bryan B — Tue, 05 Sep 2023 23:27:21 +0000

Kat you guys are doing really well so far and you’re getting a lot of sound advice and perspective but there is a specific type of advice I think you’re looking for and I’m not sure you’re getting it: advice/ perspective from someone who got out of the military before 20 years and still managed to find great happiness and success even without that mythical 20+ year retirement package. Yes the 20 year thing is great if you can make it. Few in the military do. Personally I am about to get out after 14 years of active duty and most people I talk to say I’m crazy to walk away from the deal where you give 20 or more of your best, youthful years to the military and in return they pave the rest of your road ahead with silver. Problem for me is that my job is crazy stressful and I’m burning fumes. If I keep going, FIRE won’t be much fun with the health problem accumulation trajectory I’m currently on. I don’t know if that is relateable to you or not, but what I’m saying is that priority #1 is to live long enough to be able to worry about what happens when you get older.
Priority #2 is to nurture the health of your relationship. When I got to my most recent assignment, the Chief engineer, Commanding Officer, and Executive Officer were all going through divorces. And all were on track for a 20 year retirement. So what I’m saying is that if your present situation threatens your relationship then do something about it. Or don’t, but just know that military life can be somewhere between hard to fatal on relationships.
If somehow you can make it 20+ years in the military with good health and a happy relationship then awesome, do it, listen to all the other commenters on here. If not then think hard about what you truly want from life.
I’ll be getting out of active duty end of this year and I’ll be the test case for someone who tries to be wildly successful without the silver parachute of a military retirement. I’m aiming for a life of gold anyhow so it’s all good.
By the way….about priority #3….FIRE….yeah create some side income, remote work, blog about being an overseas military spouse and build a community around that…do something, anything. Whatever you can contribute to the bottom line will make FIRE more quickly attainable. You guys have access to some amazing benefits, GI Bill, VA home loan program….you can get into real estate investing with a VA loan by buying a 2, 3 or 4 unit place and living in one unit and renting out the remaining units. That’s just one of many examples of side gigs that military people have better access to than most people.

Finallly: good luck! You’re doing so much right already so keep it up!

By: Cheryl Marie

Cheryl Marie — Mon, 04 Sep 2023 17:50:53 +0000

Kat you and Jay are doing great. Congratulations!

You didn’t mention Jay’s total time in service or if he is prior enlisted. If Jay enjoys his job and the military he may really want to consider staying in until he has his full 20 years in to get the pension. If he does get out early then he may want to consider joining the reserves to get his 20 and a reserve pension. If he really doesn’t like what he does or doesn’t care for the military lifestyle then he should resign his commission and get out. Remember an active duty pension begins when he retires and you and he will have health care too. A reserve pension doesn’t begin until age 60 (gray area retiree) and Tricare doesn’t start until age 60.

For travel start using MAC flights space A travel. You do have to be somewhat flexible and should have funds to cover a last minute ticket if you can’t get a flight and have to make a travel deadline to get back. Best when active duty/retired active. If reserve/reserve retired I think the age thing comes into play again.

When you are stateside again, always ask if a military discount is offered when eating out, reserving hotels, etc. They really vary even within the same company/locations. Ask for military discount when booking flights too.

Having a career when your spouse is military is challenging. Most spouses end up with jobs not careers and not being stateside must make it a lot worse. I would try to find something on base just to have something to do and to bring in more income to put towards your future options. My husband went to Japan a year unaccompanied because we just could not afford 3 years of me not working straight out of school with students loans at the time for both of us.

If you are not using all your housing allowance, save it.

Consider reading The Military Money Manual.

Keep up the good work. You are doing great. Take care.

Wife of a USMCR(ret.) Marine and mom of two (one trying for PLC/OCS and one at a service academy)

By: Christine

Christine — Wed, 16 Aug 2023 14:55:43 +0000

In reply to Kat. Spouse of a retired Marine Corps officer chiming in: for lodging during travels we use the Armed Forces Vacation Club. They are basically timeshare condos that are released to eligible military members for a weekly flat rate fee.

By: Niecie L

Niecie L — Tue, 15 Aug 2023 20:46:44 +0000

You guys are doing an awesome job, your decisions have been outstanding and you should be great if you continue the path you are on. Your case study generated a lot of activity which is always good. I wish you well in your endeavors. Kudos to you both.

By: LongTIme Frugal

LongTIme Frugal — Tue, 15 Aug 2023 17:27:22 +0000

In reply to Petra.

I am highly employable – IT people are always in demand. Children are on their own, financially stable and have more than 6 months in emergency funds.
And right now they are young – talk to people in their 50s or even early 60s who lose their jobs. Most will tell you it is a nightmare to find a job. “Overqualified” or “expect too much in salary”. Nothing wrong with investing but fixed/minimal living expenses are just that.

By: Petra

Petra — Tue, 15 Aug 2023 05:44:07 +0000

In reply to Kat. I think it's amazing what you've accomplished together in such a short time and at such a young age! I hope you find a new job where you currently are that is fun and rewarding (also monetary :-) ) and I hope you two can enjoy the fruits of your labors really soon.

By: Petra

Petra — Tue, 15 Aug 2023 05:39:09 +0000

In reply to LongTime Frugal.

Or… they could be more employable than you are. Or they will make do with what they have more easily than you can. Perhaps you have children who depend on you – they do not.

By: Elena

Elena — Tue, 15 Aug 2023 05:14:55 +0000

You guys are doing great! I had a question for you about your Vanguard investments. I’m also an ex-pat and a few years ago I went into a deep dive of index funds and it seemed like it wasn’t possible to buy/own Vanguard as an American abroad. There were some workarounds, but they seemed overly complicated for the amount of money that I had to invest at the time. How do you guys do it? Did you find a loophole? Thanks!

By: Liz

Liz — Mon, 14 Aug 2023 16:41:11 +0000

Your husband will qualify for VA healthcare benefits as a veteran – he doesn’t need to retire or have disability. Retirees qualify for tricare for life for themselves and all beneficiaries, but any veteran can access the VA healthcare system.