Thanks for watching everyone! Give this video a LIKE to support my channel and be sure to check out my entire video playlist on Military Finance and Investing topics: th-cam.com/play/PLscTZuOqKWIycpttIOB044CBFLdPpgiYu.html
Left as a staff sergeant after 7 years. Went to school for 3 years for my last year undergrad and 2 year post grad. Came back in the service in January and now I’m a Captain and a registered nurse. No regrets!
how did you get from sgt to colonel? not asking rudely. im not military, but my understanding is once youre enlisted it is very hard to become an officer, and you made it one step before general! thats very impressive.
You forgot to talk about the VA Home Loan benefit. For me, the two best benefits I got from my service are: VA Home Loan (No Down Payment) program to purchase a house, and the lifetime VA Healthcare (no need to buy or worry about Obama care or any other medical insurance). If you care about your future and you are fresh out of high school (or even attending college) without a clue of what to do with your life... join the military, get an occupation which you can utilize in civilian life, and have time to think about your life. If you happen to like the military, then stay in for 20 years to get your pension. You can still work another 20 years in your civilian life and get a second pension. Together with the money you've been saving in the 40 years of working, with your 401K plan, and your Social Security benefits... you'll be living the life of a happy retiree in luxury. Provided that you don't squander away your money with women and alcohol... or wife (wives) and divorce(s) and children (haha).
Cool man! My dad was stationed at MAFB. We lived there from 1980 to 1992. Thank you for your service and your excellent channel. Always good to see people from Minot. 👍🏾
Almost 27 years Active Duty Air Force, and that retirement makes it all worth it. I've watched TH-camrs who talk about passive income and how their $1.5M dividend portfolio pays then $50K a year. My retirement + VA nets me nearly $30K more than that and will pay me well over $3.5M if I last another 35 years. I mentored many CGOs about Investments when I was in, good to see you're well ahead of the game.
Started watching your videos after searching “how to use fidelity” 😂Your channel is very underrated, thanks for the education and congrats on the promotion!
Thanks so much Tacoma! I also think my channel is under rated, lol. But I will just keep making content and perhaps things will pick up for me soon. Cheers!
Jake, you are an incredible person bro. I’m working on being an active duty Chaplain in the Air Force, and I hope our paths cross one day! Thank you for making this great content. My professional goal is to complete 20 years in the military!
Thanks so much for the high praise Zac and I welcome you to the Air Firce. Sounds like you still need to go through OTS/COT. That’s going to be a fun time for sure! 20 years is an honorable goal and I wish you luck. Cheers!
Congratulations on the promotion, really appreciate your military related topics. Helped get me back on a more appropriate long term financial track. Cheers!
Thank you for the video. Ive been in the army national guard for 7 years now, and am interested in law school and pursuing a direct commission . I think one other pay you could talk about as a military officer is Per Diem on certain assignbments. It really adds up!
Haha, I've never got per diem before since I never get to go anywhere fun for my job, but you are right that that can also be a good benefit! Cheers Max!
Nice video. Congrats on your promotion and kudos to you for wisely planning ahead. Just two friendly corrections: an O-6 in the Air Force, Army, and Marine Corps is a Colonel, not a Lieutenant Colonel. Also, the top 1% income earners in the USA make over $500K per annum (not $100K). Over 15% of income earners in the USA make over $100K per annum. I think your broader point was dead on, though: you don't join the military if your primary objective is to maximize earnings. There have to be other important motivations.
For moral reasons I will not be in military but I really appreciate giving me some insight on something that I never thought about. I started following you recently and I am watching your videos regularly. Thank you!
CONGRATS JAKE - well done... To highlight your personal info on this platform speaks volumes about you and transparency, which in my mind lends itself to trusting the messenger! Again, thanks to you and others on here for your service!!!!!
Thank you for the videos, keep pumping them out! And congrats on the promotion!! There is not a ton of content on OTS, USAF financials, etc. And it is helping us new guys get into the journey. So I think you found a good niche!
I’ve always wondered why the biggest jump in pay for an officer occurs when as a 1LT they go over 3 years time in service. It would make more sense to push that pay jump down to over 8 or 9 years time in service. Big decisions are made at the promotion to O4 or Major and the 10 year point. Thank you for your service!
I love every bit of ur video, i mean not all does explain such but one needs to known the important of what one is getting in to as well, a piece of advise or information shared, can help someone in different ways, i love to see more of these video
You get a lower property tax rate as well as lower/no personal property tax rate when you register your vehicles in states where this applies. Example: I bought a 2020 TRD Off Road 4Runner last year. For the privilege of doing so, I was sent a personal property tax (PPT) bill for $1,300 by Richland County, SC. This isn't sales tax. This is just a plain old unavoidable money grab by the state of SC. And I get to pay a still very high, yet decreasing PPT every year to tag my vehicle. And I still have to pay the tag fee on top of that. There is no way to avoid it. Even if you buy a vehicle out of state that add a $500 "road use tax" when you go to title. It is sickening how greedy some of these states are. Many states will tax your investment/second properties at higher rates as well. Active duty generally gets exempted or taxed at a lower rate. However, active duty is exempt from all this. Retired and still want TRICARE Prime? That will be $600+/year. Oh, that doesn't include dental or optometry each of which are $1000+ per year. And if you can't get a PCM on post, every visit comes with a co-pay. That is just for routine ailments though. A trip to the emergency room for a broken bone without a referral? You will be paying hundreds despite having TRICARE. Are you going to let your kid suffer while waiting for a referral or take them to the emergency room? No more SGLV. You want the gov recommended/sanctioned term life insurance? Prepare to pay. Are you wanting to pay into the survivor benefit plan (SBP) in case you die before your spouse? Fork over 6.5% of your retired pay for 40 years (vested) or until you die. No longer real property tax and PPT exempt Tricare Co-pays Dental Optometry Life Insurance SBP Add it all up and you are paying somewhere around $1000 (((extra))) per month than you were paying prior to retirement for inferior benefits, and that is with (((less than half the money))) you were getting while on active duty. I retired October of last year. It is manageable. You just have to know it is coming and plan for it. I ensured my homes and cars were all paid off before I retired. That enabled me to full retire at the age of 40 and easily handle the extra expenses.
Congratulations. One thing to keep in mind as a Capt, because your are a Capt soo long (7years) no one really knows if you were a Lt yesterday or going to be a Major tommrow.
Jake - great video. I would correct one item. I think you misspoke that an O-6 is a Lt Col when its a full Col. I'm sure you know that a O-5 is a Lt Col. My brother is an O-5 in the Air Force and he explained that to me. As an MBA I love your financial videos. Your videos contain great material that is clearly communicated. Finally, can't say enough to thank you for your service.
honestly as a single guy, 8K a month isn’t bad. Specially in North Dakota, I would assume lower cost of living. I’d be set. I don’t understand why so many go to the VA and have issues later on, other generations never did. I think it has to do with financial literacy because I remember growing up near a Navy base and seeing all the enlisted junior sailors riding Expensive AF cars…and there was always a strip club near…the only one in the area right by the base…while the senior guys with kids seems to be modest in their spending-intelligent with their spending. A rear admiral went to church with me and he drove a 2000 civic… I am 23 now, after graduating and taking the DAT, I hope to become a military man through the HPSP myself as a commissioned officer in the dental/medical field. 8K a month would be a dream, honestly. Id max out my Roth in no time.
congrats! this was super helpful since after I graduate with the HPSP program I will be a captain in the AF so this video came out perfectly for me. Could you do a video on TSP? I've heard about it but not too sure how to optimize the strategy
Great to see our government taking good care of our servicemen. My father and grandfather were both career airforce officers, but I never knew anything about their salaries. The funny thing is I learned more about my fathers pre-retirement income from you than from my families lol.
Haha, I was actually thinking about getting an MBA and going to an Ivy League School. I have to get out of the Air Force first for that to happen. We'll see!
Thanks for letting me know about the British/French difference. That's interesting! I didn't mention OHA and COLA because I have never received it. I have yet to deploy, but I can look in to that for a potential future video.
It's a great way to accelerate your life or any career. Just doing a 4 years service commitment will give you great experience and if you want to stay in longer, you always have that option.
Hey Alex! I just use very simple, plain excel sheets and word docs. I am old school, even though I know there are great apps out there. I'll do a review of them someday!
You are a cool dude, a cool Officer, and you explain your videos very clearly, so thank you, and congrats on your promo. One thing I am fairly certain about, you will serve at least 20 years.
In the days they did have an military hospital in San Francisco .I was stationed in Fort Ord,now closed.But i had to go there related to a burn injury i did to myself off duty.So everyone in the hospital probably got the BAH.
You are definitely doing it right. Contribute as much as possible, starting as early as possible for retirement. The tax free military benefits are increasing. Also, once you retire, your TriCare insurance becomes secondary coverage for an employer’s health coverage and later for Medicare. Essentially the best medical coverage possible with very few if any co-pays. After military retirement, you should have another 15 to 25 productive years to work in a second career. Unless you make some really stupid financial decisions along the way, or end up with a couple of expensive divorces, a retired military officer should have a very comfortable retirement.
I agree Jim! I recognize and appreciate the incredible financial value I am getting from being an officer in the military. Every little bit adds up the longer I am capable of serving. I honestly don't know if I will be doing 20, but I will take advantage of every dollar in savings and of benefits while I am in for sure!
@@JakeBroe There are many unknowns in life. In 25 years if you have a major health issue, you will be OK financially if you are a retired military officer. If you only served a few years, a major medical issue can be ruinous.
Congrats on the promotion! Welcome to the O-3 Club!!!!! Edit: This would have been super helpful when I started as an officer. It didnt take long for me to come around, but it would have been nice to know this from the beginning. Hopefully this helps others out. Lastly, it has always bothered me that Cap'N Crunch has three stripes on his sleeves. He is in the uniform of a Commander, Navy Captains have 4 stripes 😥
Thanks, Alvin! Maybe the difference in stripes is because he is a cartoon. Kind of like how the Simpsons only have 4 fingers on each hand instead of five.
Also don’t forget the USPHS - United States Public Health Service. Also NOAA National Oceanic Atmospheric Administration. There are 7 uniformed service and now 8 with the Space Force . The USPHS and NOAA use the Navy ranks
By the way ,I am still try to make contact of my formal student .He was with Air force ,He might be retired already ,His name is Jeffery Martin ( Marshall town Iowa).He is Chinese Language specialist.I think now Jeff is living Hawaii,
Johnstown has a recruitment station and Army National Guard base at the John Murtha-Cambria County Airport. I have no idea why JST has such a low pay rate since it is a fairly rural community with the nearest major city being an hour and a half away.
@@JakeBroe I want to say I really enjoy and learn alot from your videos, and love your candor. I myself am international, but even enjoy your service related videos because of the way you present the information. Thank you and keep up the great work :)
I have USAA and have comprehensive coverage. It's pretty cheap for me since I'm mid 30s with a perfect driving record and I live in North Dakota with a newerish car. I only pay $50 a month for coverage.
I really like your way of breaking down these kind of topics! If you were to commission as an officer (through AFROTC) would you qualify for the GI Bill for a master’s? Or do you know if you can do AFROTC for a master’s (if you already have a bachelor’s)? I’m just trying to evaluate all my options. Thank you!
Hey Jhon! If you do not go to the academy or receive a scholarship from the military for ROTC, then as soon as you enter military service, you start earning the post 9/11 GI Bill. After 3 years of service, it is yours. You can do whatever you want with it. Another bachelors, a trade school, a Masters, it doesn't matter. If you take a scholarship for ROTC, then often you have to "pay it back" with service time before you then begin earning your BI Bill benefits. This will all be explained in the contract, but perhaps you have to serve 4 years before you start earning your GI Bill benefits. Good luck!
Your video is fair. If you want to push your pay upwards, purchase some rentals. For me, I earn far more with my five rental units than my salary, and yes, I do have a good salary. The way I do it, all funds from my rentals goes into paying off principle early. Will have two units paid off in full by early 2021. Playing stocks now is a fools game, mark my words.
Got to say, my GI bill paid for three years of graduate school for my masters; that was nice. And, we got our first home on it as well (that is, lower interest and guaranteed loan; we still had to come up with our mortgage payment of course). One of my sons became a marine and went through war. Injured, 50% disabled, but lived, praise God.
Didn't even know you were military before and I've seen a decent amount of your videos. Consider branding yourself as some sort of military niche credit channel - May help out perhaps? Either way killing it man, thanks for picking up the axe.
Thanks Track Slayers! I actually did try branding myself more as a military channel when I first started, but I wasn't getting any traction and I figured I was losing more viewers than I was gaining. I'll make some more videos about my military experience in the future, but it's not my focus. Cheers!
Jake since you are AD the pay seems straight forward, however I'm looking at flying in the Reserves or ANG. Could you make a video about how pay is structured differently for those scenarios? Perhaps 1 or 2 examples as each state provides different benefits.
Hey FELiPES! I am not so much familiar with Reserves or Guard, since I am active duty. I think other resources online might be of better help, but i can look in to this!
Question for you if you can Sir. I commissioned August 2018. Come October 2021, I will be considered 'Over 3 Years' of service when punching it into the calculator, correct? Thanks for the help in advance.
Great Content I love the information and statistics. I have a few questions that I’d like to ask. I finished college and plan on joining as an officer within the next year at age 28 and I’ll be Married with 1 Child maybe going on 2. 1. Why do you think a lot of people never make it to the 10 year mark? 2. As an officer are you working a regular 40-45 hour work week? 3. How was OTS and the Selection process? 4. I saw your other video saying you were a school teacher in Korea, how was your profession chosen when you entered the military? 5. You spoke about your pension being so much, what would make you not finish 20 years?
Hey Shakiel! 1) Because moving every 2-3 years is really hard on families. The job can also be very stressful. The military lifestyle isn't for everyone. 2) If I were to average out how many hours I work a week, it's probably closer to 60, but when I am on alert I can sleep and am just sitting on Facebook on my computer or watching TV. I have a very unusual job though. Most people have normal work days and work hours, some less. 3) The OTS application process is difficult and frustrating. Expect the process to take 1-2 years. You have to be confident and aggressive with your recruiter to be selected. 4) They ask for your job preferences ranked 1-5, they then either give you one of those jobs or none of them at all. You'll know your job before you sign the final paperwork. I put missiles on my sheet, but I honestly didn't know what it was. 5) If I did 20 years, I would be 52 by the time I get out. I struggle to imagine myself still trying to pass a physical fitness test at 52. Additionally, I am doing financially pretty well for myself outside of my military salary. Staying in could actually hurt my lifetime earning potential as opposed to looking for a private sector job.
What would your advice be to a guy that is a graduate. Should he enlist or commission? And is the qualification of attaininh an Aviation incentive pay and standard uniform allowance and civilian clothes allowance? provided
Thanks for watching everyone! Give this video a LIKE to support my channel and be sure to check out my entire video playlist on Military Finance and Investing topics: th-cam.com/play/PLscTZuOqKWIycpttIOB044CBFLdPpgiYu.html
Left as a staff sergeant after 7 years. Went to school for 3 years for my last year undergrad and 2 year post grad. Came back in the service in January and now I’m a Captain and a registered nurse. No regrets!
Congratulations! I started as an E3-E5 (spent 4 years enlisted) and retired O5 after 26 years of service.
Wow! That's an amazing career! Cheers to your retirement!
how did you get from sgt to colonel? not asking rudely. im not military, but my understanding is once youre enlisted it is very hard to become an officer, and you made it one step before general! thats very impressive.
@@allisonsmith9050 he went to college while he was enlisted and then commissioned to O-1 all the way to O-5
@@allisonsmith9050 General is 0-7 not 0-6.
I went in as an E-2 and got out as an E4, but my salary now is that of an 08 so I can’t complain. No driver though,…
First - Thank you for your service. Second - Thank you for your excellent videos. You have produced the best videos on options I have ever watched.
Thanks for the support Carl! Glad you found my videos! Let me know if you have any questions. Cheers!
Congrats on the promotion sir. I thought I was doing well with my new E7 pay/promotion.
Q B or with my e3 lance corporal
Wait till you retire....get that retirement check, disability and a job in the civilian sector....cha-ching bro. I just retired 1 Oct last year.
Thanks Q B!
congrats! I got promoted recently!!
You forgot to talk about the VA Home Loan benefit. For me, the two best benefits I got from my service are: VA Home Loan (No Down Payment) program to purchase a house, and the lifetime VA Healthcare (no need to buy or worry about Obama care or any other medical insurance).
If you care about your future and you are fresh out of high school (or even attending college) without a clue of what to do with your life... join the military, get an occupation which you can utilize in civilian life, and have time to think about your life. If you happen to like the military, then stay in for 20 years to get your pension. You can still work another 20 years in your civilian life and get a second pension. Together with the money you've been saving in the 40 years of working, with your 401K plan, and your Social Security benefits... you'll be living the life of a happy retiree in luxury. Provided that you don't squander away your money with women and alcohol... or wife (wives) and divorce(s) and children (haha).
Thank you as a military and officer. I support both officers and military with my lemonade stand Thank you.
Thanks for the comment and support Lemons! Cheers!
Cool man! My dad was stationed at MAFB. We lived there from 1980 to 1992. Thank you for your service and your excellent channel. Always good to see people from Minot. 👍🏾
Thanks for the support SD! By the way, I love Deep Space Nine!
Almost 27 years Active Duty Air Force, and that retirement makes it all worth it. I've watched TH-camrs who talk about passive income and how their $1.5M dividend portfolio pays then $50K a year. My retirement + VA nets me nearly $30K more than that and will pay me well over $3.5M if I last another 35 years. I mentored many CGOs about Investments when I was in, good to see you're well ahead of the game.
I am trying my best to figure this out, haha. Your retirement sounds amazing! Thanks, Rob!
Great Military info and Congrats on your promotion to Captain Jake :)
Thanks Glenn!
Started watching your videos after searching “how to use fidelity” 😂Your channel is very underrated, thanks for the education and congrats on the promotion!
Thanks so much Tacoma! I also think my channel is under rated, lol. But I will just keep making content and perhaps things will pick up for me soon. Cheers!
Congrats Jake! 0-2E 1LT here from the Army wishing you the best. Keep it up.
Thanks for the support deadleague! Cheers!
Thank you for your service, Congrats on the promotion. I did 5 years in the Army, (87-92')
Thanks for the support FFT! I've seen some of your videos before. Good stuff!
@@JakeBroe Thank you!
Thanks for your service. A friend of mine just retired from USAF about a year ago (23 or so years).
Appreciate your videos as well!
Thanks for your support Ryan! I appreciate it. Congrats to your friend!
Jake, you are an incredible person bro. I’m working on being an active duty Chaplain in the Air Force, and I hope our paths cross one day! Thank you for making this great content. My professional goal is to complete 20 years in the military!
Thanks so much for the high praise Zac and I welcome you to the Air Firce. Sounds like you still need to go through OTS/COT. That’s going to be a fun time for sure! 20 years is an honorable goal and I wish you luck. Cheers!
We're the same rank, but reserves. I love this video. Very well done. I'll use this video when one of my Soldiers need clarification on finances.
Awesome! Thanks so much Sun-ho. I appreciate you sharing my content. If anyone ever has any questions, let me know. I respond to all comments.
Congratulations on the promotion, really appreciate your military related topics. Helped get me back on a more appropriate long term financial track. Cheers!
That's awesome RubZ! Glad to hear it!
Thank you for the video. Ive been in the army national guard for 7 years now, and am interested in law school and pursuing a direct commission . I think one other pay you could talk about as a military officer is Per Diem on certain assignbments. It really adds up!
Haha, I've never got per diem before since I never get to go anywhere fun for my job, but you are right that that can also be a good benefit! Cheers Max!
Nice video. Congrats on your promotion and kudos to you for wisely planning ahead. Just two friendly corrections: an O-6 in the Air Force, Army, and Marine Corps is a Colonel, not a Lieutenant Colonel. Also, the top 1% income earners in the USA make over $500K per annum (not $100K). Over 15% of income earners in the USA make over $100K per annum.
I think your broader point was dead on, though: you don't join the military if your primary objective is to maximize earnings. There have to be other important motivations.
Thanks for the comment Victor! Cheers!
@@JakeBroe Thank you for the edifying video and for your service!
For moral reasons I will not be in military but I really appreciate giving me some insight on something that I never thought about. I started following you recently and I am watching your videos regularly. Thank you!
Thanks abu! Cheers!
Thank you for your service!
Thanks for your support Blake! Cheers!
CONGRATS JAKE - well done... To highlight your personal info on this platform speaks volumes about you and transparency, which in my mind lends itself to trusting the messenger! Again, thanks to you and others on here for your service!!!!!
I’m a 20 year E-8. No regrets but I will say. No matter what way you cut it, there is no comparison between O and E pay.
Thanks for all the content and welcome to the double LT mafia!
Haha! Double LT life has been good to me so far. Cheers!
Congratulations! That's a nice big bump up in pay. I'm waiting to pin on Maj next yr. So, that will be another big bump up.
Thanks Walter! Congrats to you on on Major next year!
@@JakeBroe Thanks brother! BTW, I'm in the AF as well. I have a friend you may know, Hockaday?
Thank you for the videos, keep pumping them out! And congrats on the promotion!! There is not a ton of content on OTS, USAF financials, etc. And it is helping us new guys get into the journey. So I think you found a good niche!
Thank you so much Maverick! Glad you found my channel and you are gaining value from it! Cheers!
I’ve always wondered why the biggest jump in pay for an officer occurs when as a 1LT they go over 3 years time in service. It would make more sense to push that pay jump down to over 8 or 9 years time in service. Big decisions are made at the promotion to O4 or Major and the 10 year point. Thank you for your service!
I love every bit of ur video, i mean not all does explain such but one needs to known the important of what one is getting in to as well, a piece of advise or information shared, can help someone in different ways, i love to see more of these video
Congrats! Looking forward to joining you in the captain club this year 😁
Thanks Emily! Congrats to you as well on your soon to be promotion!
Good information.. Military deserves it.
He seems to be a good leader to have.
Congratulations sir! Currently an active duty E6 in the Navy.
Thanks Monica! Sounds like you are going for 20 in the Navy then. Cheers!
Congrats on your promotion and thank you for your service! :)
Thanks for your support Jon!
@@JakeBroeis Major a good rank to reach?.
You get a lower property tax rate as well as lower/no personal property tax rate when you register your vehicles in states where this applies.
Example:
I bought a 2020 TRD Off Road 4Runner last year. For the privilege of doing so, I was sent a personal property tax (PPT) bill for $1,300 by Richland County, SC. This isn't sales tax. This is just a plain old unavoidable money grab by the state of SC. And I get to pay a still very high, yet decreasing PPT every year to tag my vehicle. And I still have to pay the tag fee on top of that. There is no way to avoid it. Even if you buy a vehicle out of state that add a $500 "road use tax" when you go to title. It is sickening how greedy some of these states are. Many states will tax your investment/second properties at higher rates as well. Active duty generally gets exempted or taxed at a lower rate.
However, active duty is exempt from all this.
Retired and still want TRICARE Prime? That will be $600+/year. Oh, that doesn't include dental or optometry each of which are $1000+ per year. And if you can't get a PCM on post, every visit comes with a co-pay. That is just for routine ailments though.
A trip to the emergency room for a broken bone without a referral? You will be paying hundreds despite having TRICARE. Are you going to let your kid suffer while waiting for a referral or take them to the emergency room?
No more SGLV. You want the gov recommended/sanctioned term life insurance? Prepare to pay. Are you wanting to pay into the survivor benefit plan (SBP) in case you die before your spouse? Fork over 6.5% of your retired pay for 40 years (vested) or until you die.
No longer real property tax and PPT exempt
Tricare
Co-pays
Dental
Optometry
Life Insurance
SBP
Add it all up and you are paying somewhere around $1000 (((extra))) per month than you were paying prior to retirement for inferior benefits, and that is with (((less than half the money))) you were getting while on active duty.
I retired October of last year. It is manageable. You just have to know it is coming and plan for it. I ensured my homes and cars were all paid off before I retired. That enabled me to full retire at the age of 40 and easily handle the extra expenses.
Hi Jake, thank you for your honesty on your finances and your appreciation for what you earn. God bless and enjoy life.
Great video Jake! I'm a gov contractor and work with Air Force officers all the time. Mission comes first. :)
Thanks Jackson! We appreciate your support!
Congratulations. One thing to keep in mind as a Capt, because your are a Capt soo long (7years) no one really knows if you were a Lt yesterday or going to be a Major tommrow.
Very true. But at this point in my career, I have to be the guy who knows what is going on. I can't play dumb anymore now that I'm a Captain.
Your now a Skipper! I'm not sure if you guys use that term in the Air Force, but congrats man!
Nope. Just retired from the Air Force. Skipper isn't in our vocabulary lol.
Nope, I have never heard that term used before in the Air Force, haha.
Very informative- thanks for a peak into the finances of a military officer. I like your presentation style. Keep it up!
Congrats sir! Respect from a fellow American 👍
Thanks for the support John!
Jake - great video. I would correct one item. I think you misspoke that an O-6 is a Lt Col when its a full Col. I'm sure you know that a O-5 is a Lt Col. My brother is an O-5 in the Air Force and he explained that to me. As an MBA I love your financial videos. Your videos contain great material that is clearly communicated. Finally, can't say enough to thank you for your service.
Thanks pamet! Yep... I misspoke. Sometimes when the camera is rolling you just forget what you are saying sometimes. Thanks for your support!
An O-6 is a COLONEL
honestly as a single guy, 8K a month isn’t bad. Specially in North Dakota, I would assume lower cost of living. I’d be set. I don’t understand why so many go to the VA and have issues later on, other generations never did. I think it has to do with financial literacy because I remember growing up near a Navy base and seeing all the enlisted junior sailors riding Expensive AF cars…and there was always a strip club near…the only one in the area right by the base…while the senior guys with kids seems to be modest in their spending-intelligent with their spending. A rear admiral went to church with me and he drove a 2000 civic…
I am 23 now, after graduating and taking the DAT, I hope to become a military man through the HPSP myself as a commissioned officer in the dental/medical field. 8K a month would be a dream, honestly. Id max out my Roth in no time.
6:57 I went to college to ND! I miss it so much.
Congress still gives billions to other countries - old veteran
Thank you for sharing your personal info. Congratulations and thanks for your service.
Thank you for your support! Cheers!
Congratulations Capt.!!! No doubt we’ll deserved.
Thanks Sam!
Congrats and thanks for your service!
Thanks Richard!
Congratulations on Capt. Thank you for protecting this country.
Thanks for the support TheVastLive! I appreciate it!
congrats! this was super helpful since after I graduate with the HPSP program I will be a captain in the AF so this video came out perfectly for me. Could you do a video on TSP? I've heard about it but not too sure how to optimize the strategy
He has done several. subscribe to the channel!
Search my channel and you will find all my TSP videos. th-cam.com/video/4FwQYh9K5nY/w-d-xo.html
HPSP has been an amazing experience for me. Best of luck on your journey!
Thank you for your service.
Thank you for your support Tuan!
Great to see our government taking good care of our servicemen. My father and grandfather were both career airforce officers, but I never knew anything about their salaries. The funny thing is I learned more about my fathers pre-retirement income from you than from my families lol.
Yeah, I think people should talk more about their income and their finances. It's such a taboo topic.
This channel will be a perfect resume if you want to be an MBA Candidate. Service 2 Schools would help you to get into Wharton, Booth, GSB, and HBS.
Haha, I was actually thinking about getting an MBA and going to an Ivy League School. I have to get out of the Air Force first for that to happen. We'll see!
@@JakeBroe plenty of time to study for GMAT then :) check out service2school.org/
Congratulations on your promotion. Good video.
Thanks Robert! Cheers!
Late to the channel but I love your content. Congrats by the way!
Thanks ronin! Cheers!
Congratulations! Welcome to the O-3 club, brother. Love watching your videos. I’m in Japan, what about a video about OHA and COLA?
Btw, the Navy’s rank structure is modeled after the British Navy while all others are modeled after the French.
Thanks for letting me know about the British/French difference. That's interesting! I didn't mention OHA and COLA because I have never received it. I have yet to deploy, but I can look in to that for a potential future video.
Congratulations Jake!! I learned something new today. Thanks for what you do!
Thanks for the support WYW!
Really cool! I have one more year of Uni and am considering attending air force OTS.
It's a great way to accelerate your life or any career. Just doing a 4 years service commitment will give you great experience and if you want to stay in longer, you always have that option.
This was awesome Jake! Very informative. Another idea would be to show how you set up budgets and such? Do you just use excel? Apps? Another program?
Hey Alex! I just use very simple, plain excel sheets and word docs. I am old school, even though I know there are great apps out there. I'll do a review of them someday!
Thanks for the great content. I liked and subscribed...Looking forward to seeing all your videos.
Awesome! Welcome to the channel Cthames! Great to have you with us!
You are a cool dude, a cool Officer, and you explain your videos very clearly, so thank you, and congrats on your promo. One thing I am fairly certain about, you will serve at least 20 years.
Thanks AL! I appreciate the support. Cheers!
In the days they did have an military hospital in San Francisco .I was stationed in Fort Ord,now closed.But i had to go there related to a burn injury i did to myself off duty.So everyone in the hospital probably got the BAH.
To avoid excess taxes, always contribute 100% of you bonus/hazardous duty pay to your TSP when you are in country.
Well... if you are contributing to the traditional side of the TSP, then you'll pay taxes eventually, just in the future!
You are definitely doing it right. Contribute as much as possible, starting as early as possible for retirement.
The tax free military benefits are increasing. Also, once you retire, your TriCare insurance becomes secondary coverage for an employer’s health coverage and later for Medicare. Essentially the best medical coverage possible with very few if any co-pays.
After military retirement, you should have another 15 to 25 productive years to work in a second career.
Unless you make some really stupid financial decisions along the way, or end up with a couple of expensive divorces, a retired military officer should have a very comfortable retirement.
I agree Jim! I recognize and appreciate the incredible financial value I am getting from being an officer in the military. Every little bit adds up the longer I am capable of serving. I honestly don't know if I will be doing 20, but I will take advantage of every dollar in savings and of benefits while I am in for sure!
@@JakeBroe There are many unknowns in life. In 25 years if you have a major health issue, you will be OK financially if you are a retired military officer. If you only served a few years, a major medical issue can be ruinous.
Congrats man!!
Thanks Mark!
Excellent video 👍🏾
Thanks royland! Cheers!
Awesome vid!!!
2:03 so close there m8 an o-6 in the AF is a full bird aka a COL not a LTC
personally I think an o-5 in the navy (cdr) is a cooler sounding name than a Lt Col in the AF
Hello Jake thank you for your channel and content it's really helpful,,,I'm you're new subscriber here in Dubai,,,
Congrats on the promotion! Welcome to the O-3 Club!!!!!
Edit: This would have been super helpful when I started as an officer. It didnt take long for me to come around, but it would have been nice to know this from the beginning. Hopefully this helps others out. Lastly, it has always bothered me that Cap'N Crunch has three stripes on his sleeves. He is in the uniform of a Commander, Navy Captains have 4 stripes 😥
Thanks, Alvin! Maybe the difference in stripes is because he is a cartoon. Kind of like how the Simpsons only have 4 fingers on each hand instead of five.
@@JakeBroe someone promote this man to Major!
Congrats Jake !
Thanks Gilboa!
Also don’t forget the USPHS - United States Public Health Service. Also NOAA National Oceanic Atmospheric Administration. There are 7 uniformed service and now 8 with the Space Force . The USPHS and NOAA use the Navy ranks
Ah! Thanks for that info!
You should go for that pension Jake! 👍
I don't think I'll make it. I would be a 52 year old man on the track trying to run 1.5 miles so I don't fail a PT test, haha
Actually, an O-6 captain in the navy is an O-6 colonel in the army, an air force, and Marines 🤓
Here I am trying to get into the reserves as an officer when I should really be thinking about AD.
Everyone's situation is different. The reserves definitely makes sense for some people!
Congratulations Jake! I can see the disciple
By the way ,I am still try to make contact of my formal student .He was with Air force ,He might be retired already ,His name is Jeffery Martin ( Marshall town Iowa).He is Chinese Language specialist.I think now Jeff is living Hawaii,
Coast Guard is in San Fran as well
Do more videos about the military and different ranks and benefits
Copy that!
I might have missed it but BAH/BAS isn't taxed so it "like" making more than what you listed becuase base pay is the only taxable income.
That is correct!
E3 in Monterey gets about 2300 a month. There’s a reason everyone gets married at DLI and divorces at Goodfellow! Congrats on Captain sir
That's a nice BAH. Thanks CD!
You should do a reserve work-up (for lack of a better term).
Reserve work-up? I am not familiar with that term.
Johnstown has a recruitment station and Army National Guard base at the John Murtha-Cambria County Airport. I have no idea why JST has such a low pay rate since it is a fairly rural community with the nearest major city being an hour and a half away.
Haha, that's crazy. Yeah, no clue why it is so low.
Thanks for sharing. Love the detail and commentary. You have to add your TH-cam commission to your final take home pay lol keep it up👏👏
Thanks so much MM! My TH-cam pay is a nice check on top of my Air Force salary. I cannot complain about how I am doing these days for sure!
Congrats on the promotion!!
Thanks Corin!
@@JakeBroe I want to say I really enjoy and learn alot from your videos, and love your candor. I myself am international, but even enjoy your service related videos because of the way you present the information. Thank you and keep up the great work :)
Congratulations to the captain. Hopefully you're a major in 2024.
Jake! Congrats on the promotion! Your content is excellent. Who do you use for insurance? Do you have minimal coverage?
I have USAA and have comprehensive coverage. It's pretty cheap for me since I'm mid 30s with a perfect driving record and I live in North Dakota with a newerish car. I only pay $50 a month for coverage.
I really like your way of breaking down these kind of topics! If you were to commission as an officer (through AFROTC) would you qualify for the GI Bill for a master’s? Or do you know if you can do AFROTC for a master’s (if you already have a bachelor’s)? I’m just trying to evaluate all my options. Thank you!
Hey Jhon! If you do not go to the academy or receive a scholarship from the military for ROTC, then as soon as you enter military service, you start earning the post 9/11 GI Bill. After 3 years of service, it is yours. You can do whatever you want with it. Another bachelors, a trade school, a Masters, it doesn't matter. If you take a scholarship for ROTC, then often you have to "pay it back" with service time before you then begin earning your BI Bill benefits. This will all be explained in the contract, but perhaps you have to serve 4 years before you start earning your GI Bill benefits. Good luck!
Jake Broe Thank you so much for replying! Keep up the awesome videos.
If you already have a bachelors and are otherwise qualified, you can do AFROTC in graduate school. Talk to the ROTC representatives about the details.
Correction…O6 in the Army is a COL, not LTC
Your video is fair. If you want to push your pay upwards, purchase some rentals. For me, I earn far more with my five rental units than my salary, and yes, I do have a good salary. The way I do it, all funds from my rentals goes into paying off principle early. Will have two units paid off in full by early 2021. Playing stocks now is a fools game, mark my words.
Yep, acquiring rentals is coming soon for me.
Gosh, when I started in the service I made less than the BAS food allowance is today.
I've been out of the military coming up on 40 years ago and still dream I am in it sometimes. They should pay dream pay, right?
Got to say, my GI bill paid for three years of graduate school for my masters; that was nice. And, we got our first home on it as well (that is, lower interest and guaranteed loan; we still had to come up with our mortgage payment of course). One of my sons became a marine and went through war. Injured, 50% disabled, but lived, praise God.
congrats sir!
Thanks paxman! Cheers!
Didn't even know you were military before and I've seen a decent amount of your videos. Consider branding yourself as some sort of military niche credit channel - May help out perhaps? Either way killing it man, thanks for picking up the axe.
Thanks Track Slayers! I actually did try branding myself more as a military channel when I first started, but I wasn't getting any traction and I figured I was losing more viewers than I was gaining. I'll make some more videos about my military experience in the future, but it's not my focus. Cheers!
Hi do you get to choose where to live if you have family? The BAH is based on where you work?
Jake since you are AD the pay seems straight forward, however I'm looking at flying in the Reserves or ANG. Could you make a video about how pay is structured differently for those scenarios? Perhaps 1 or 2 examples as each state provides different benefits.
Hey FELiPES! I am not so much familiar with Reserves or Guard, since I am active duty. I think other resources online might be of better help, but i can look in to this!
Congrats on your promotion!
Thanks Adam!
Great job! Go Army 11A
Thanks IC92!
Congrats Jake! Congrats on the promote
Thanks Andrew!
Question for you if you can Sir.
I commissioned August 2018. Come October 2021, I will be considered 'Over 3 Years' of service when punching it into the calculator, correct? Thanks for the help in advance.
Hey Rich! Yep, from whenever you started on active duty, that starts your clock for time in service. You'll be over 3 at that point.
@@JakeBroe Roger, thanks!
Great Content I love the information and statistics. I have a few questions that I’d like to ask. I finished college and plan on joining as an officer within the next year at age 28 and I’ll be Married with 1 Child maybe going on 2.
1. Why do you think a lot of people never make it to the 10 year mark?
2. As an officer are you working a regular 40-45 hour work week?
3. How was OTS and the Selection process? 4. I saw your other video saying you were a school teacher in Korea, how was your profession chosen when you entered the military?
5. You spoke about your pension being so much, what would make you not finish 20 years?
Hey Shakiel!
1) Because moving every 2-3 years is really hard on families. The job can also be very stressful. The military lifestyle isn't for everyone.
2) If I were to average out how many hours I work a week, it's probably closer to 60, but when I am on alert I can sleep and am just sitting on Facebook on my computer or watching TV. I have a very unusual job though. Most people have normal work days and work hours, some less.
3) The OTS application process is difficult and frustrating. Expect the process to take 1-2 years. You have to be confident and aggressive with your recruiter to be selected.
4) They ask for your job preferences ranked 1-5, they then either give you one of those jobs or none of them at all. You'll know your job before you sign the final paperwork. I put missiles on my sheet, but I honestly didn't know what it was.
5) If I did 20 years, I would be 52 by the time I get out. I struggle to imagine myself still trying to pass a physical fitness test at 52. Additionally, I am doing financially pretty well for myself outside of my military salary. Staying in could actually hurt my lifetime earning potential as opposed to looking for a private sector job.
What would your advice be to a guy that is a graduate. Should he enlist or commission? And is the qualification of attaininh an Aviation incentive pay and standard uniform allowance and civilian clothes allowance? provided