How to go from $0 to $1MILLION With Military Pay?! (Quicker Than College)

who here is 18 and pretty poor right now not me but i was throw up the other hand if you're wanting to actually get education go to school [Music] it's sad i have to preface this entire video with i understand you may not politically agree with the military i understand there are a million other ways to make money and be successful in life and college isn't always one of them and even if you decide not to go this route there's other ways to skin the cat and get to where you want to be i'm just talking about from this perspective you can leverage this in your own way and do a killing with really a little bit of sacrifice and i'm trying to share that with you guys and by the way if you do have parents that are trying to make your way through college and pay it and tell you not to join and they're willing to front the entire bill of what we're about to cover here i definitely suggest it because all of us that did raise our hands probably wish we had the opportunity you did this is for all the broke people out there that had the 2.2 gpas like me money to not be able to be eligible for the grants that are out there and also too stupid to actually do well in school either and i joined the military almost 13 years ago now so this is a simple breakdown analysis of how pretty much this is going to build your wealth to be that millionaire where the beginning stages of your life from 18 where we all start saying is if you have no help nothing is going on this is how you will win with the military this is averages this is really just to catch all me trying to give a very much hypothetical scenario because this will be different for each person so let's start with the military because that's easy now you're going to have people that are going to serve a basic of four years and you have to have at least 36 months of active duty in order to obtain the entire hundred percent of the gi bill now let's talk about the earning potential of somebody that's in the military here now obviously we do have a rank structure and saying you're 18 and you've never had rotc jrotc i should specify reason that you would excel and be a higher rank let's say you come in as an e1 so then you have an e1 which makes 1 785 for the first six months which they rank up after that but they would make a total of ten thousand seven hundred and ten dollars and e2 at two thousand one dollars uh for nine months which they would then bring up to e3 but that would total eighteen thousand nine dollars then you have an e3 which goes up to two thousand one hundred four dollars for 33 months for the rest of their time in and have a total 69 432 now that would total 98 151 dollars total that you've earned from the military obviously taxes i understand i can't throw that variable in here because you could live in california which we won't discuss taxes there versus somewhere that has no income tax so please leave those comments out if you want for the algorithm just say love the video nikki thumbs up i still appreciate you guys pushing it either way which if you look at this chart here you can also look the earning potential of many veterans leaving the military now this is just an average to be fair and it does break it down male and female and it does show that male veterans earn about forty five thousand forty eight dollars versus women which make thirty seven three hundred two dollars so say that you wanted to join the military just for college now obviously you're not going to work full-time if you're going to school full-time unless you can do that congrats it's very difficult i've done it myself if you split those numbers in half you're looking at five hundred approximately 22 dollars for a male and eighteen thousand six hundred fifty one dollars for a female again based on skills location so many other things that factor into that but again this is on averages now like i said you want to be a student so this factors in the post 911 gi bills this gives you 36 months of benefits so it shows that tuition it will cover is up to 25 162.14 every year books will have a thousand dollar stipend also you should understand there is such thing called the yellow ribbon program which if it's not covered by the post 9 11 gi bill you can have certain parts of your tuition covered or a certain amount which is uh covered past what the gi bill will uh not cover so definitely check that out there's a website that talks all about that you can check it out and see which schools participate in this because not every school does also we should factor in the fact that you're going to get e5 housing allowance bah is what we call it for the entire 36 months by the way that's only why you're actively in school so we went off the median average here which is 1234.43 and that was for a one bedroom now you're probably asking nikki you're looking at a one bedroom for a college student yes i know but after you left the military you've done the barracks life you've done all of the living with a million people you're probably going to want to upgrade a little bit of your cost of living so i'm trying to understand that you're going to be a full-blown adult probably about 23-24 versus someone coming into 18. now the favorite part i have from this is looking at the college student aspect of how much you're gonna leave this college institution with a good amount of debt and that's why we're going to break this this down at the very end comparing both of them so college tuition on average is 25 290 dollars for four years if you broke that up into four years tuition will be 6 32 you have interest that is accumulating during the time that you're in school studying those books trying to pass finals midterms whatever else this does add up now if you look at this it does look like it'll be 35 962.42 talking about food it does also look like you're going to be required for that first year at least have some kind of meal plan because you will likely be in the dorms which does average around 4 500 for the continuity of this video we will keep that number going because after looking at even the military pay they pay 370 per month for bas or food for sustenance pretty much where that equals about 4 400 so i'm like that is a good ballpark of what you can expect now speaking of housing 8 87 is what it looks like to live in the dorms now this is probably gonna be your first two years as well so you have to understand you're probably going to move out which will bring up your expenses most likely as you're paying for other utilities and things like that but again for continuity of this video i don't want to bring too many variables into it so we'll just leave this number as the total amount that you'd pay for each year that you're there now that looks like that you would be paying 35 548 dollars for four years of housing which is pretty crazy when you think about it and looking at the average cost of books for the college student you know i did mention that the military pays you a thousand dollar stipend for every year but it does say that there is a average of about twelve hundred dollars obviously you could get rental books you could get uh used books things like that that could change this as well and let's talk about earning potential while you're in school so this is a high variable for a lot of students that i want to factor in because some people are very independent or dependent depending on their family situation and things like that so it does look like if you are a dependent the average is about 3 900 per year which would be a total of thousand six hundred dollars for the entire four years now if you're independent it's known that these people typically are going to work harder and do more hours so it looks like thirteen thousand eight hundred eighty dollars per year and totaling fifty five thousand five hundred twenty dollars per four years again this does not factor taxes either so please keep that in mind all right so let's wrap up this video so you can see the true comparison breakdown between these and really look at it so for the military it looks like money wise you would earn 98 151 dollars with obvious taxes being variable compared to money that you could be earning as a student which would be anywhere from the range of fifteen thousand six hundred to fifty five thousand five hundred twenty also factoring in how much time you can afford to lose which has been noted that pretty much you will have to not work past 20 hours for most of this because you will have to study and do other things that will be required of you as a student one factor from the military side i wanted to add to this was you can have credits that are covered by the military that the school will accept so that's one big major plus on top of that we do have tuition assistance which can really help knock out some of those baseline classes and really not touch any of this money now getting back to this let's look at the gi bill and what it covers for tuition which is a total of one hundred thousand six hundred forty dollars over four years that should be compared to the tuition that you could find from the college side which would be thirty five thousand nine hundred sixty two dollars and forty two cents now let's talk about the housing here because like i said your bh from your gi bill not post 911 uh to be correct is going to cover the most of what you could afford for a one bedroom apartment from this uh as you are being paid e5 with dependents during that period now looking at the other side of this from the college perspective it does look like housing would be around thirty five thousand five hundred forty eight dollars by the way no interest is included and that's just saying that you would pay out flat out unless you took loans to afford this looking at that from the military aspect where you had the post 911 they're gonna pay you that and you usually are going to have more money past that so they're not paying you money for food per se but i will say if you do want to check this out you can check out bah calculator and look up specific zip codes where you could see this and calculate this for your own specific situation also this extra money could be used towards food utilities things like that which will decrease some of the costs as well now let's tap into the books here it does look like the books are still going to be a little bit of a issue as we did discuss that the average does look to be twelve hundred dollars where that is going to be a total of forty eight hundred dollars for the college student and could look upwards of eight hundred dollars for the military student as they only get the 1 000 stipend some of the pros of the person that's in the military is they are going to have a higher earning potential as they do have typically some kind of skill to do that and as i mentioned before the average is about 45 000 now if they were to work part-time let's run that to about 20 000 which makes them a pretty solid earner while they're doing this also i do want to advocate that they are probably more mature better work ethic as they have been more accustomed to this hard work lifestyle as being the military can be very difficult also they are bringing money from an active duty account where they likely did save something from that hopefully from the 98 000 they earned they could have earned they could have maybe saved about a quarter of that at least depending on whether stationed at where if you're overseas they could save even more than a quarter of that based on the cost of living allowance and other factors as well also to factor in also to factor in deployments because that can save tons of money uh you know doing nothing in the middle of the ocean or out in the field wherever you're at this can be compared to the college student which brings minimal savings to it unless their parents are really going to help them out and on top of that their earning potential is much less so let's be honest here you're probably not gonna have any debt or anything to focus on when you are leaving the military getting your four-year bachelor's degree in this scenario just talking basic expenses you're going to be a net positive obviously this does take away four years of opportunity cost that you would be able to be in the school system already but let's not stop there totaling all the expenses up from the student side looks like ninety four thousand three hundred and ten dollars and forty two cents now i don't want to neglect that people are going to make some kind of money during this period most likely and let's look at the best situation if you took that 55 000 but that would be a total of thirty thousand seven hundred ninety dollars and forty two cents now if it was on the lower earning it would be left over with as much as 78 710 dollars and 42 cents mind you that full-time worker the person that's independent might actually have to work more hours could cut into their gpa make it more stressful who knows if they actually want to go to graduate school later on this is a big factor so they all end up at like the same end destination one got in the military one left college right one is a couple years earlier but here's what you have to look at as well they both have earning potential and one may even be able to you know leverage their earning potential a little bit more from prior experience also veteran status you know some of those things might be more beneficial as some employers are looking to hire veterans and may give them a higher wage but obviously there's still new entry workers to this workforce if they are starting from a brand new degree now i do not want to talk about the average earning potential because this can widely vary as we know engineers are the highest earning then you go into nursing and then all this i get it but the average here that they say online is 50 944 dollars now they both come with their bs to be honest with you the military has four years of bs that you're gonna have to deal with and that can be difficult but can have long-term lasting effects now when you look at a college person here the bs is the debt right you're scrounging around for your place to work and hopefully you have something lined up and on top of that many of these students their loan terms are about 10 years but on some studies that have researched this it does look like many students do not pay off these debts for upwards of 20 years and it does look like if they did pay that over 10 years you're still looking at a payment of over 400 for the next 10 years that you would be doing this and you could be looking at even more if you refinance all these other things it really throws a big wrench if you're wanting to get out of the military you're looking at four years there four years undergrad that puts you at 26 debt free you are only going up whereas somebody that's leaving college at maybe 2324 is in debt already with at least 30 000 ready to be paid back with interest accruing throughout the entire time that does cut into your purchasing power to buy houses to buy cars to start a family it gets pretty messy you're gonna have to choose which ones you want to pick and choose from where i think the military side does financially make a lot of sense one major factor i haven't covered because this is a huge variable as well is financial aid that could also benefit both of these parties because you're still entitled to it as an active duty member and you're still entitled to it even as a college student so realistically who knows it does say about average is 4 300 bucks let me know down in the comments below if you're getting financial aid how you're paying for this and i want to wrap this video up with one major thing because i can go in on the military of some of the bad aspects that happen i can go into the aspects of that are really good and i think this channel tries to represent both sides the best way that it can and i do think that you guys can use this as a stepping stone even though there are issues in this organization or every organization that you're ever going to be part of i promise you it will teach you some of the basic skills that you need to actually go do some other stuff in life and just use this move on if you hate it trust me you're going to make friends it's going to suck it's going to be great it's going to be everything under the sun all at the same time but i just want you guys to use this and leverage it to the best of your ability this is not the only financial video that i have made i want to say please check those out i'll link those up here you can check out on the cards as well also in the description below you can check those out and yeah i hope that you guys got something out of this to kind of compare and contrast if you're looking at the two options if you guys do like what we do here on the channel i would appreciate you guys supporting us over at patreon.com where we do have a link down in the description below you can get some special perks here on the channel also the join button down below uh where you get some special perks here on youtube but because do you have questions about this video or anything else you can always hit me up on instagram snapchat twitter or down the comments below i love you guys i'll see you next time [Music] you

Channel: NICKY MGTV

Views: 4,243

Rating: 4.9714966 out of 5

Keywords: military, u.s military, u.s. army, u.s. marines, u.s. navy, u.s. air force, military training, military information, trending, deployment, military pay, military benefits, bootcamp, basic training, navy seals, buds, army ranger, army green beret, special forces, outraged, recon, infantry, joining the military, angrycops, angry cops, matt best, black rifle, black rifle coffee, austen alexander, nickymgtv, nicky mgtv

Id: xVAaO06NEk0

Length: 16min 0sec (960 seconds)

Published: Mon Mar 22 2021