what do you do for a living?
Le Mans Master
Joined: Nov 2000
Posts: 5,210
Likes: 104
From: Fort Worth TX
St. Jude Donor '06
Father & Son St. Jude Donor '09
Originally Posted by ian1992red
74-Roadster
A CHIEFs fan in TX. Dallas area non the less. I bet you catch alot S*^t for that.
A CHIEFs fan in TX. Dallas area non the less. I bet you catch alot S*^t for that.
You'd be surprised how many Green Bay fans are in the DFW area.
Burning Brakes
Joined: Jan 2005
Posts: 1,217
Likes: 0
From: Augusta GA
US army...10 years runnng! Another 15 to go and I can retire and not do anything for the rest of my life! Will I? Hell no, I am going to start a landscaping buisiness. I am into ponds, streams and stuff. Well thats what I want to specialize in anyway.
Race Director
Joined: Mar 2004
Posts: 12,466
Likes: 886
From: Fort Wayne IN
2025 C5 of the Year Finalist - Modified
C5 of Year Finalist (performance mods) 2019
2017 C5 of the Year Finalist
2016 C5 of the Year Finalist
2015 C5 of the Year Finalist
Originally Posted by red_johnny
US army...10 years runnng! Another 15 to go and I can retire and not do anything for the rest of my life! Will I? Hell no, I am going to start a landscaping buisiness. I am into ponds, streams and stuff. Well thats what I want to specialize in anyway.
DO that last ten and take your pension and run. That's the main thing keeping me in with just over 10 years left to 20 (well, that and the fact that I'm WAY ahead of the power curve when it comes to rank).
Burning Brakes
Joined: Jan 2005
Posts: 1,217
Likes: 0
From: Augusta GA
You do realize that you have to attain certain ranks to stay in that long right? I never said I was going to bail! And I am shooting for 15 more years cause its more realistic. When I said "will I" I meant will I retire and my responce was no I will continue to work after army retirement. I love the army and if they would let me stay in 50 years I would. But the fact of the matter is I cant and the most I can do is 30 if I make the grade. Alot of guys retire before they are 30 years in for good reasons and some get med discharged, some get in trouble ect ect. So you cant really say your going to do 30 cause you cant see the future. Dont get me wrong though, if you do thats cool but as the old saying goes "dont count your chickens before they hatch"
PS. A little food for thought, if you take the early retirement $ ($30,000) it ends up being about $22-24,000 after taxes and you throw it all into a IRA or some kind of fund, by the time you hit 30 years in that bugger will be worth ahella lot more than that 10% they take away and further more the longer over 20 you stay in the more % you get back...IE 30=75%
PS. A little food for thought, if you take the early retirement $ ($30,000) it ends up being about $22-24,000 after taxes and you throw it all into a IRA or some kind of fund, by the time you hit 30 years in that bugger will be worth ahella lot more than that 10% they take away and further more the longer over 20 you stay in the more % you get back...IE 30=75%
Last edited by red_johnny; May 16, 2006 at 07:25 PM.
Race Director
Joined: Mar 2004
Posts: 12,466
Likes: 886
From: Fort Wayne IN
2025 C5 of the Year Finalist - Modified
C5 of Year Finalist (performance mods) 2019
2017 C5 of the Year Finalist
2016 C5 of the Year Finalist
2015 C5 of the Year Finalist
Originally Posted by red_johnny
You do realize that you have to attain certain ranks to stay in that long right? I never said I was going to bail! And I am shooting for 15 more years cause its more realistic. When I said "will I" I meant will I retire and my responce was no I will continue to work after army retirement. I love the army and if they would let me stay in 50 years I would. But the fact of the matter is I cant and the most I can do is 30 if I make the grade. Alot of guys retire before they are 30 years in for good reasons and some get med discharged, some get in trouble ect ect. So you cant really say your going to do 30 cause you cant see the future. Dont get me wrong though, if you do thats cool but as the old saying goes "dont count your chickens before they hatch"
PS. A little food for thought, if you take the early retirement $ ($30,000) it ends up being about $22-24,000 after taxes and you throw it all into a IRA or some kind of fund, by the time you hit 30 years in that bugger will be worth ahella lot more than that 10% they take away and further more the longer over 20 you stay in the more % you get back...IE 30=75%
PS. A little food for thought, if you take the early retirement $ ($30,000) it ends up being about $22-24,000 after taxes and you throw it all into a IRA or some kind of fund, by the time you hit 30 years in that bugger will be worth ahella lot more than that 10% they take away and further more the longer over 20 you stay in the more % you get back...IE 30=75%
As for the $30K for the Redux retirement instead of the High-3, put this to thought: A return on that money via the market is no where NEAR guaranteed. There was a great article in the Air Force Times a few years back that outlined the right and wrong situations to take the $30K under. Oh, and if you can work a trip downrange, that's a tax free $30K too. Me personally, I'll let them keep the money and I'll take my 50% at 20 and full yearly increases.
Burning Brakes
Joined: Jan 2005
Posts: 1,217
Likes: 0
From: Augusta GA
ok, I see about the money but my buddy (well him and his dad who is a finicial advisor) told me that if you take that money and invest it in what ever you want to by the time your 50 you will have over the ammount of the differance that 10% made. I am talking about 3-5X's the ammount. The army and air force times like to blow smoke at people about this cause not many people know about the profit to be made. Anyway you look at it I think it depends on what that person wants to do. Me, I am taking that money and dumping it straight into TSP. By my calculations based on current retuns, I will be looking at a healthy 2-3 million bucks upon the age of 45-50. Oh yeah
PS sorry about the confusion, guess I wrote what I was trying to say funny.
PS sorry about the confusion, guess I wrote what I was trying to say funny.
Le Mans Master
Joined: Dec 2002
Posts: 7,981
Likes: 37
From: Piedmont, SC Currently Own: 99 Nassau blue FRC. Previously Owned: 84,95,98 Indy Pace,01 Z06
Well, graduated with an Associates Degree in Nursing, but work and help run a 30+ year old family business pumping and maintaining restaurant grease traps and residential septic systems.
Racer
Joined: May 2002
Posts: 446
Likes: 14
From: Huntsville, AL
20+ years in the military. Developmental Test Pilot for Helicopter Programs.
I love tinkering on the Vette, and my Harley. Completely replaced the stock sound system last year with the help of a co worker (I know nothing about fiberglass work)
I love tinkering on the Vette, and my Harley. Completely replaced the stock sound system last year with the help of a co worker (I know nothing about fiberglass work)
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Drifting
Joined: Nov 2004
Posts: 1,426
Likes: 0
From: AnnArbor Michigan
St. Jude Donor '05
Originally Posted by NVTHIS
Well, graduated with an Associates Degree in Nursing, but work and help run a 30+ year old family business pumping and maintaining restaurant grease traps and residential septic systems.
Advanced
Joined: Mar 2005
Posts: 93
Likes: 0
From: The Colony Texas
Cool thread. Such a diverse group of enthusiasts. I did stereo installations in high school 30 years ago, but moved on to digital communications (SEVOCOM) in the army and eventually to network and wireless support for EDS in Plano. Texas. Yes, I am working on setting up a carputer. When I'm not in my Corvette or doing PC support, I'm applying my UNIX skills to learning about DVR upgrades.
Last edited by landpilot; May 17, 2006 at 10:11 AM.
