“And just how would you suggest that a enlisted person in the military get the money to invest in order to get that $1M?
When I retired as a E-6, I was earning $1200/mo before taxes.”
Excellent question. They have to take the $1M from the taxpayer. The taxpayer also has to be willing to give it to you.
Rather than tell the military retiree, the federal retiree, or anyone else who gets a government benefit check “No, you can’t have it” and also to avoid having the taxpayer tell the government “No, you can’t have it” the government elected to borrow $15 Trillion over the past 30 years or so.
Soon “No you can’t have it” will be the refrain heard from the folks who used to loan us money.
Then the government will simply print the money it wants to spend - and we will all soon have nothing.
1) I saw this figure a couple months ago, don't know where, but none the less, only about 12-13% of the people that enter the military stay for 20 or more years. And during those 20 years you will probably face a reduction in force (RIF), selective early retirement board (SERB) and promotion boards. All 3 designed for “Force Management”, make through one you got another one and then another one. I faced all three. And guess what, if you are forced out before 18 1/2 years you get nothing.
2) Retirement pay is calculated on base pay, not total benefits, in most cases base pay might be 60% of the total pay.
3) Tricare (Nocare, Triscare, whocares), is very stingy with their payments, you might get a check for $1.98 or maybe nothing, my hospital no longer accepts tricare.
4. My Tricare supplement (yea I only pay $250 a year), is very stringent on what facilities I go to. Went for PT at a non sanctioned facility, so it is all out of my own pocket.
5. Four and a half years overseas, away from family, racking up $500 per month phone bills (back in 90s).
You don't see lines at the recruiting office. If you want to cut some benefits look at medicaid and welfare. But stay the hell off our back