Is Joining the Military Worth It Financially?

The question of whether joining the military is financially worthwhile is complex and depends heavily on individual circumstances. While the military offers a range of benefits, the financial outcomes can vary significantly based on factors such as rank, deployment, and long-term career trajectories. Let's explore this in detail, considering both the advantages and limitations.

Initial Training and Deployment

Upon joining the military, you can acquire valuable skills and training that can be applied to civilian life. However, these benefits come with caveats. Your initial rank may be lower than expected, and you may be deployed overseas. If a conflict erupts, you may be one of those deployed to far-flung locations. In my experience with the USMC during the Vietnam War, I was part of the 11th Engineer Battalion and spent 13 months deployed. This highlights the potential for significant deployments far from home.

Short-Term Financial Considerations

The military provides several financial benefits, including discounts and veteran programs. These perks are often underrated and can be highly valuable. Additionally, having served in the military can be a point of pride, potentially leading to respect from others. However, these benefits are temporary and cease when you leave active service. Once you return to civilian life, you must immediately start paying bills, often facing a quick financial downturn.

My personal experience as a HS who had no college resources or marketable skills beyond low-level jobs like flipping burgers and mopping floors, shows that the military can be transformative. Upon joining the Air Force, I received training that helped me pivot to a career in telecommunications. Utilizing the GI Bill benefits and corporate tuition assistance, I was able to complete my college degree, significantly impacting my future earnings potential.

Long-Term Financial Prospects with the Military

For those without the means to pursue higher education or with no long-term plans, the military can provide stability and valuable experience. The GI Bill benefits, currently among the most generous, have surprised many who opt to take on student loan debt instead. Historically, even in days when benefits were more modest, a stint in the military can offer a valuable experience.

Deciding to join the military for financial reasons, especially if you're opposed to strict discipline, is a serious consideration. My wish to have enlisted immediately after high school rather than after university highlights the additional advantages of early military service. My college years would have been much less stressful if not for financial concerns.

Conclusion

While the military offers numerous benefits and opportunities, the financial aspects must be carefully weighed. Understanding the potential for deployment, the temporary nature of military benefits post-service, and long-term career prospects are crucial in making an informed decision. Whether joining the military solely for financial reasons, or as part of a broader life plan, it's essential to explore all options and consider the long-term implications.

Keywords: military benefits, financial considerations, enlistment choices