Is retiring at SSG worth it?

2021-08-21T23:53:58-04:00

With recent changes to the promotion system, I'm feeling it ever so more unlikely that I'll see a promotion to SFC due to the amount of time I've got left in ( 6 years) and competitiveness of the field. Retiring at SSG is not ideal, and seems to even be joked about alot, but is it really worth it?

Response by LTC John Mohor made Aug 21 at 2021 11:58 PM

2021-08-21T23:58:54-04:00

Yes!!!! Medical benefits and retirement check being paid monthly for the rest of your life while you can start a whole new career making plenty of money in another field until age 62-70 depending on your health and employment situation. I’ve had lots of retirees say it was worth it just for the Medical. Remember also Ann VA claims awarded are tax free as well!

Response by SSgt Christophe Murphy made Aug 22 at 2021 12:45 AM

2021-08-22T00:45:56-04:00

At this point you have already committed 14 years. Thats alot of time. What is your hypothetical plan if you get out?

Response by CPT David Tanner made Aug 22 at 2021 1:42 AM

2021-08-22T01:42:02-04:00

You could become a warrant officer or if you have a degree, go to Officer Candidate School. You could retire as a O-3E or a CW-2 or CW-3. Either way, with 6 years left, you should make SFC.

Response by SFC Private RallyPoint Member made Aug 22 at 2021 4:30 AM

2021-08-22T04:30:14-04:00

There's no reason to believe you won't retire as a SFC if you are putting the work in. Yes, your MOS is competitive, and almost all MOS are competitive once you are competing for Senior NCO. You are literally being ranked in an OML against your peers.

But if you don't make it, there is no shame in that. 20 years is a very successful career and when you retire nobody is going to call you SFC if you had made it.

Response by SFC Private RallyPoint Member made Aug 22 at 2021 4:39 AM

2021-08-22T04:39:19-04:00

I think it is. I am retiring at 20 next year. I think it’s worth it especially if you just spent 14 years. Like someone else said I think the benefits after 20 are good. Talking to other guys you have been out the medical and dental for retires price way better compared to the civilian side. Having a retirement check at 39 ain’t bad either. It’s not as much as I was in but it will still help.

Response by SGM Private RallyPoint Member made Aug 22 at 2021 9:12 AM

2021-08-22T09:12:34-04:00

Yes it is.
Tricare for Life, and 50% of E6 at 20 is more than the median mortgage payment in 46 states.
And those two benefits give you more options for your second career.

Response by SFC Greg Bruorton made Aug 22 at 2021 9:57 AM

2021-08-22T09:57:11-04:00

Do it with SSG; you never know. I was promoted to E8 six months before my 20, but I declined it to retire because of troubling family reasons. Certainly, I wanted to serve as a First Sergeant with pay but things didn't work out that way. Stay sharp and patient, John.

Response by CDR Terry Boles made Aug 22 at 2021 10:05 AM

2021-08-22T10:05:05-04:00

SSG John Crain -
Of course all would like to retire at a certain rank etc. However, with that being said you have invested 14-years towards a lifetime pension/retirement and its certainly more than feasible you can make SFC if you buckle down even harder. There are other opportunities as others have elated to such as WO to possibly explore and extend your career if you so wish. The retirement benefits are worth their weight in gold when compared to the civilian sector. And you will still have time to make a second career elsewhere, building more retirement wealth. I cannot tell you the number of times my Navy buddies, during our reunions, say they wish they had stayed and retired. Is staying and retiring at E-6 worth it....you bet! Best of luck!

Response by SSG Russell Busicchia made Aug 22 at 2021 10:22 AM

2021-08-22T10:22:15-04:00

I retired as an E6 and do not regret it. You are correct in believing that you probably make E7 before retiring; however, there is no shame in retiring as an E6. The retirement pay sucks but is a good supplemental income. You also retain your medical benefits. As a retiree you are in an elite class and no one really cares what your rank was. It would be a shame to give up 14 or more years just because you don't make the E7 list. I'm sad that I didn't make the E7 list but would do it all over again.

Response by SFC Michael Hasbun made Aug 22 at 2021 11:28 AM

2021-08-22T11:28:27-04:00

The military is a game, and there's only four outcomes:
1) Full retirement: Winning
2) Getting kicked out: Losing
3) ETS/EAS : Quitting
4) Dying
Just get to the finish line.There's quite a few MOS's with single digit percentage promotions to SFC. There's no shame in retiring as a SSG. It happens.

Response by Maj Maria Avellaneda made Aug 22 at 2021 11:48 AM

2021-08-22T11:48:01-04:00

Retirement is in itself an accomplishment! Many do not stay or are not allowed to stay long enough to retire! Retiring young allows you to pursue a new career either with the federal or state government. You could qualify for retirement as early as after 10 years. Don’t forget the option of teaching in a high school ROTC program. This is for personnel with less than 5 years of retirement! Congratulations!

Response by CPT Private RallyPoint Member made Aug 22 at 2021 2:40 PM

2021-08-22T14:40:29-04:00

We are talking about $2100 a month forever correct?

So if you ended your time NOW TODAY, you have only 6 years to earn and save enough in a lump sum to equal the present value of a portfolio that will pay you $2100 every month for say the next 50 years.

Which basically means, you need to be able to sock away $800,000 (discount rate 2%) over the next 6 years to merely MATCH the monthly pay outs your 20 year E6 pension will give you.

That's the BREAK EVEN number. So really, there's obviously more risk involved presuming you can get to that $800K, where as staying put is nearly guaranteed.

That's only the actual payout, not medical or anything else. So easily we are talking $1,000,000 in present value terms.

********
Every single person that outranks you at your retirement ceremony will wish they were you regardless of what rank you are.

Response by SFC Robert Ortiz made Aug 22 at 2021 4:08 PM

2021-08-22T16:08:16-04:00

There is no shame in retiring as an E-6. I see many have already stated that. Think of your future and the benefits you'll receive either as an E-6 or E-7. Keep your head up and keep driving on. The lord will carry you forward brother.

Response by SSG Robert Smith made Aug 22 at 2021 7:21 PM

2021-08-22T19:21:53-04:00

It's better than not having a retirement. But keep trying for your SFC don't give up on yourself. But even if you retire as a SSG you will still have an income and medical that you have earned.

Response by SMSgt Bob Wilson made Aug 23 at 2021 1:34 AM

2021-08-23T01:34:42-04:00

My only answer is now your have an extra $15,000 to $20,000 to spend. How about a new car?

Response by SSG Edward Tilton made Aug 23 at 2021 4:11 PM

2021-08-23T16:11:08-04:00

When the Army was forced to retire me retroactively the did so at SSG E-6. I was still working and it didn't bother me. It provided my wife with TriCare and a dental care option. There was also a large Commissary nearby. I was forced to pay into SBP, most of that wound up refunded. The VA pays my medical so all combined it is worthwhile.

Response by COL David Turk made Aug 23 at 2021 4:31 PM

2021-08-23T16:31:43-04:00

Medical coverage alone makes it worthwhile; Tricare until age 65 then Tricare for Life. Access to services available for active and retirees (but necessarily to non retired vets), such a space available military lodging.