Our blog is all about building family wealth. A lot of us come from humble beginnings and we want to be able to create a world full of more options for our children. Here is how military retirement can help.
Truly passive income. Military retirement is one of the most passive types of income. Once you retire, money hits your account no matter what. If I were to retire at 23 years in the military, I would roughly get paid $7000 a month, with some disability thrown in. Since Kris and I live well below our means, we could easily live comfortably off of $2000 a month. That allows us to invest at least $5000 a month for our children.
Allows you to pursue more income. Now that we have a $7000 base income, we can pursue more income streams. Let’s not forget about our other income streams we already have grown. Our real estate income should be at least $2000 a month. And our investment income should be at least $1000 a month by then. So we are already getting paid $10,000 a month just for waking up in the morning. Kris wants to retire and help raise the grandkids. I am going to keep working. If I land an $80,000 job, it literally is all profit. And we can use that towards new income streams.
Can pursue business ventures with our children. After spending many years overseas, and coming back from Turkey in 2019, I had an epiphany. Why do our kids need to restart their own lives, pretty much from zero? Overseas, the parents and children work hand in hand, for life. This is also a characteristic of the ultra-wealthy. If my children and I can go into business together, not only would we get to spend valuable time together, but we would all share in each other’s successes.
And that is just the start. Kris and I will be golden just from our retirement income. All the business income and investment income we are creating is for our kids and grandkids. It’s the power of living below your means and understanding money.
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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