Not many, anymore. Used to be very common. But you sound very knowledgeable with no chip on your shoulder, so I'm sure you know this.
When was it very common for people to retire at 38 years old?
Draw a pension... not necessarily retire. In the 90s, the refinery I hired in at was phasing it out. This can all be verified with a Google search, but I'm sure you're just testing me.
Pretty sure that drawing a pension after completing your service is unconstitutional
So not many people know what a Military Retirement entails, or military pay for that matter. Simply put, at 20 years, you'll get half your Base Pay for life. So if you're making $80K will you get $40K post retirement? No.
It's Only your base pay. It's not food (~$350/month). And it's not your housing (based on rank/zipcode. Mine's ~$1400/month). It's also not any travel pay, flyer's pay, nor hostile fire pay from deployments. It's just your base pay.
Also worth noting that a few years back the military changed their retirement system. It's now 40% at 20 years, but they'll match your TSP (401k for government) up to 4%.
So with your numbers 12 months of 1400 dollars for housing over 20 years is $336,000, after receiving that much you should own your home outright and not be having much for housing expenses any longer
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