Personal Finance

I'm in the military making $85k a year and I want to become a millionaire to prove my high school doubters wrong

Maurie Backman

Published: February 20, 2025 2:00 pm

Some people join the military because they want to protect their country. Others join for the built-in perks. These could include job security, medical coverage, and retirement benefits down the line.

But the military isn’t really known for its generous pay. When you factor in the benefits, over time, it can be lucrative. But when you’re first starting out, it can be a struggle to get to a place of financial security.

In fact, part of the reason the VA home loan program exists is that many military members don’t have much opportunity to sock away funds for a down payment on a home. VA loans allow eligible borrowers to purchase a home with $0 down, which could pave the way to more long-term financial stability.

Now I happen to think that being in the military alone is something to be proud of. But this Reddit poster doesn’t seem all too thrilled with their $85,000 annual military salary.

They want to become a millionaire to, as they say, “impress the ones who never saw my vision.” But while I don’t think that’s a bad goal, I think poster may need to rethink their priorities.

Forget about what other people think

Making financial decisions based on what other people think is a path that could get you into trouble in a number of ways. A lot of people, for example, buy fancy cars or homes to impress their peers, only to end up deep in debt because of it.

It concerns me that the poster here is trying to get rich primarily to stick in the face of the people who doubted them. I think it’s great that they have the goal of being a millionaire eventually. But they should have that goal because it’s what they want — not because they want to stick to it people who may have been less than supportive to them in the past.

I also think that the military could be a great stepping stone toward becoming a millionaire. If this person puts in some time, they can gain valuable skills that lead to a higher-paying job. Plus, then they get the many benefits that come with having military service under their belt.

Outside advice is a good bet

It’s clear that this poster has some solid goals, but they may need some help pulling them off. In addition to becoming wealthy, they’re hoping to buy a home soon.

That’s why I’d recommend that they sit down with a financial advisor and talk through some options. With the help of an advisor, they can determine whether their military salary will suffice in helping them meet their goals, or whether they need to soon plan a shift to the private sector where salaries may be a lot higher.

A financial advisor can also help this poster make the most of whatever savings and investments they have already. And they can help them understand what benefits they’re eligible for that could lend to long-term financial security — and what risks they take by exiting the military too soon.