Great points patentesq, had this same conversation w/DS
in addition, consider retirement, assuming career military for 20yrs, retired as O-5.
Back of the envelope math; Add about $22,000 to base pay every year to include retirement pay.
($22,000 per yr for 20yrs --- purchasing an annuity that would generate O-5 retirement pay until age 85)
That covers just pay, no benefits, someone smarter than me could do an inflation adjusted, medical etc. included.
For talking to a teenager 20-25k/annual is a nice number.
So that $33,408 is close to $55,408 if he/she is comparing to a friend in the corporate world, and they fund their own IRA.
Currently, about 85% of new college graduates are living at home with their parents without a job. A 2LT in the Army is making $33,408, plus bonuses and allowances; your DS will make half that amount as an E-1.
in addition, consider retirement, assuming career military for 20yrs, retired as O-5.
Back of the envelope math; Add about $22,000 to base pay every year to include retirement pay.
($22,000 per yr for 20yrs --- purchasing an annuity that would generate O-5 retirement pay until age 85)
That covers just pay, no benefits, someone smarter than me could do an inflation adjusted, medical etc. included.
For talking to a teenager 20-25k/annual is a nice number.
So that $33,408 is close to $55,408 if he/she is comparing to a friend in the corporate world, and they fund their own IRA.