Can someone explain the wealthy military officer phenomenon?

[Anonymous]

A lot of people who go to service academies come from family money and then marry people who come from family money. Just like in the civilian world.

You really can’t compare them to regular middle class retired officers.

[Anonymous]

Anonymous wrote:Think of the expenses you had during your working life. Major ones were housing and kid's college fund. Imagine if someone gave you a house the whole time and was going to pay for your kid's college. Kind of changes the calculation. Also, you got to engage in posh hobbies like sailing and horses for basically free on base.

When you retire you take a position with a DoD Contractor for 250k, just low key, nothing fancy.

And imagine if you had a much lower salary....

And what's this about someone paying for your kid's college?

[Anonymous]

Anonymous wrote:- Wife is highly educated and hasn't worked a traditional job in decades because she has to be geographically mobile due to husband's work.

- Wife has managed household finances carefully and thoughtfully and knows she may not be working a traditional wage-earning job while husband is active duty.

- Many costs associated with raising a family (health care, groceries, air travel, higher education) are subsidized for active duty military families.

- Family has decided to pour extra pay (hazard pay, deployment pay) into savings and other long-term investment vehicles.

- They sail because they are a Navy/Marine Corps family, have always lived near water, and it is something they enjoy together.

They're now wealthy because they worked for it and they earned it. (No, I am not part of a military family).

I'm PP and well aware that women, wives, and mothers also serve on active duty. I was responding to PP's question that specifically referred to a wife of an active duty service member who hasn't worked in decades.

[Anonymous]

Pension and private employment and connections to get hand picked for contracts

[Anonymous]

Anonymous wrote:

Anonymous wrote:Retired O-6 who works for a contractor does not live like "old money" - especially if they've got kids in college.

Sincerely,

Retired O-6 who works for a contractor who has got kids in college.

No GI Bill? College shouldn't be killing you.

I'm not the pp you quoted.
Please tell me what your understanding of the GI bill is.

[Anonymous]

They get a great job with their buddies. It’s no different than the Ivy grads giving their friends jobs.

Its a game.

[Anonymous]

It’s because the taxpayer funds a huge portion of their expenses (housing while on base, no down payment for Va loans, the list goes on). Welfare queens to the max

[Anonymous]

Anonymous wrote:It’s because the taxpayer funds a huge portion of their expenses (housing while on base, no down payment for Va loans, the list goes on). Welfare queens to the max

+1. Even one of Reagan's hires (Stockdale, I think his name may be) wrote a book a few years ago describing the US military as socialistic. But if you dare question it, you're labeled a "communist" or worse. DH has several retired military in his family, and when they start bragging about their free health care and whatnot at Thanksgiving, I say "you're welcome."

[Anonymous]

We know a lot of O6s and this isn’t typical at all. It’s your little slice of life I think.
Some might have $2m houses because they bought a long time ago or have dual earner families. I don’t know anyone who retired and didn’t get a job after military retirement.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s because the taxpayer funds a huge portion of their expenses (housing while on base, no down payment for Va loans, the list goes on). Welfare queens to the max

+1. Even one of Reagan's hires (Stockdale, I think his name may be) wrote a book a few years ago describing the US military as socialistic. But if you dare question it, you're labeled a "communist" or worse. DH has several retired military in his family, and when they start bragging about their free health care and whatnot at Thanksgiving, I say "you're welcome."

That’s super obnoxious on your part. We can’t even get appointments at Walter Reed or find a place to park, so I’d tell you quickly to shove it. Trust me, you wouldn’t think military healthcare was such a great deal if you actually had to use it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Retired O-6 who works for a contractor does not live like "old money" - especially if they've got kids in college.

Sincerely,

Retired O-6 who works for a contractor who has got kids in college.

No GI Bill? College shouldn't be killing you.

I'm not the pp you quoted.
Please tell me what your understanding of the GI bill is.

At least one of their kids should be going to school for free. I know, because one of my kids did.

[Anonymous]

Anonymous wrote:It's funny multiple people have mentioned DoD contractor positions. DH is looking to retire, and the jobs he's seeing are only around $90k.

Don't get me wrong, we live fairly frugally and are happy with our standard of living, but I'm curious where this financial disconnect between us and some of his peers is.

They are usually $75-150K to start. If you go with a big company you can do better.

Officers get a high retirement pay (unlike enlisted, our retirement pay sucks) plus health care (you have to pay but its minimal).

They also had free housing/housing allowance and other perks so they could save money/buy houses and rent them, and other things.

Then, they take another job, but it really depends on their career field. Doctors, lawyers, etc will do very well.

[Anonymous]

Lots of things (like daycare) are heavily subsidized; other perks are tax free, like housing alliance as others mentioned.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s because the taxpayer funds a huge portion of their expenses (housing while on base, no down payment for Va loans, the list goes on). Welfare queens to the max

+1. Even one of Reagan's hires (Stockdale, I think his name may be) wrote a book a few years ago describing the US military as socialistic. But if you dare question it, you're labeled a "communist" or worse. DH has several retired military in his family, and when they start bragging about their free health care and whatnot at Thanksgiving, I say "you're welcome."

That’s super obnoxious on your part. We can’t even get appointments at Walter Reed or find a place to park, so I’d tell you quickly to shove it. Trust me, you wouldn’t think military healthcare was such a great deal if you actually had to use it.

It’s still socialized .

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s because the taxpayer funds a huge portion of their expenses (housing while on base, no down payment for Va loans, the list goes on). Welfare queens to the max

+1. Even one of Reagan's hires (Stockdale, I think his name may be) wrote a book a few years ago describing the US military as socialistic. But if you dare question it, you're labeled a "communist" or worse. DH has several retired military in his family, and when they start bragging about their free health care and whatnot at Thanksgiving, I say "you're welcome."

That’s super obnoxious on your part. We can’t even get appointments at Walter Reed or find a place to park, so I’d tell you quickly to shove it. Trust me, you wouldn’t think military healthcare was such a great deal if you actually had to use it.

I have a secret to let you in on—private healthcare sucks too.