I've read a lot on the forums, and understand that in most cases it doesn't make sense financially to stay in for 20yrs (as you'd make more money on the outside than you'd get from the retirement package.)
My situation, though, is less clear. I've a substantial commitment (from grad school, academy, etc.) amounting to 13yrs. I've got 2yrs of active duty time already. What this means is that, when I am eligible to get out, I will have served 15yrs total, 5 years shy of 20 and thus not really financially a good idea to stay in.
However, if I do a military residency of 5yrs duration, it is my understanding that the time would count towards retirement, meaning that when I could get out I could retire with 20yrs in.
Of course money is not everything, but if all things are equal I'd like to make the best choice possible. Therefore, suppose the situation were one were I could choose between a top civilian residency program (which would require an extra 5 yrs of service to retire), and a top Navy residency program (which would not). What would you advise?
Thanks in advance for your help.
My situation, though, is less clear. I've a substantial commitment (from grad school, academy, etc.) amounting to 13yrs. I've got 2yrs of active duty time already. What this means is that, when I am eligible to get out, I will have served 15yrs total, 5 years shy of 20 and thus not really financially a good idea to stay in.
However, if I do a military residency of 5yrs duration, it is my understanding that the time would count towards retirement, meaning that when I could get out I could retire with 20yrs in.
Of course money is not everything, but if all things are equal I'd like to make the best choice possible. Therefore, suppose the situation were one were I could choose between a top civilian residency program (which would require an extra 5 yrs of service to retire), and a top Navy residency program (which would not). What would you advise?
Thanks in advance for your help.