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txag2012

  • Guest
Re-enlisting
« on: Oct 29, 2014, 12:56 »
I just graduated from NPTU as an EM and am reporting to my first boat out of Groton here in the next few weeks. I was supposed to STAR re-enlist on graduation day but my crew forgot to turn in my re-enlistment request. The only reason I am re-enlisting is due to student loans (about 32k).
At this point, I'm more aggravated by the whole situation and I am just ready to finish this contract up and get out. However, by the time they discovered (after telling me I was definitely re-enlisting the day before) that they in fact didn't have my paperwork, the movers had already transported all my HHG to Groton, and it is now in temporary storage.
Any suggestions as to whether or not I should re-enlist still, or if I decided not to, what I could do with all the stuff in temporary storage? I'm definitely not looking for someone to make this decision for me by any means. Just looking for some advice.  Will the movers actually put my stuff in a storage unit for me? Just trying to weigh all my options, and look at the financial side of things. Not sure if I should just re-enlist given everything.

Thanks for the help.

Offline HydroDave63

Re: Re-enlisting
« Reply #1 on: Oct 29, 2014, 01:27 »
30 if ya like it, 20 if ya don't!  ;)

Offline spekkio

Re: Re-enlisting
« Reply #2 on: Oct 29, 2014, 01:28 »
I don't know what your dilemma is with storage. Your first sentence says that you are going to be stationed in Groton. You then state that your HHG are in Groton. What is the problem there?

As far as reenlisting, if you want a career in the Navy, reenlist. If you want to use the Navy as a stepping stone toward something else, then don't.

Reenlisting because you have $32k in student loans is, frankly, really really stupid.

txag2012

  • Guest
Re: Re-enlisting
« Reply #3 on: Oct 29, 2014, 10:57 »
When the movers transfer your HHG to a state, if you do not provide an address for them to take the goods they will place it in temporary storage which is free for up to 90 days. That is what you are entitled to. After that, you have to supply an address for your stuff to be taken. If I'm not E-5 by the time that 90 days is up, I will not be able to provide an address which means I would be out excess costs for the move.
And re-enlisting due to paying off student loans is due to a little thing called interest. If I continue to pay down the loans monthly, I will end up paying an additional $12,000 with the 6% rate provided by SCRA. If you have a better solution that would prevent me from having to pay that additional $12k, I would love to hear it.

Offline GLW

Re: Re-enlisting
« Reply #4 on: Oct 29, 2014, 10:57 »
they can never order you to re-enlist,...

after you re-enlist,...

they can order you to do just about anything,...

for just that much longer,...

those are the facts,...

deal with 'em and move on as you need to,...

and then own it,...

thank you for your service,...
« Last Edit: Oct 29, 2014, 11:00 by GLW »

been there, dun that,... the doormat to hell does not read "welcome", the doormat to hell reads "it's just business"

Offline HydroDave63

Re: Re-enlisting
« Reply #5 on: Oct 29, 2014, 01:05 »
Okay, actual answer....if I were in your boondockers and NWU, I'd re-enlist. Avoiding the interest IS a good idea, the job market is somewhat soft in the utility sector right now, and it gives you time to finish your degree, try to get 3 years of standing EWS, etc. that does help in finding work post-EAOS.

All of what GLW said, and good luck!

txag2012

  • Guest
Re: Re-enlisting
« Reply #6 on: Oct 29, 2014, 04:03 »
Thanks, I appreciate it. I actually have a 4-year degree already (gpa prevented me from going officer). But yeah, I do want to be EWS qualified by the time I get out.

Offline spekkio

Re: Re-enlisting
« Reply #7 on: Oct 29, 2014, 04:43 »
When the movers transfer your HHG to a state, if you do not provide an address for them to take the goods they will place it in temporary storage which is free for up to 90 days. That is what you are entitled to. After that, you have to supply an address for your stuff to be taken. If I'm not E-5 by the time that 90 days is up, I will not be able to provide an address which means I would be out excess costs for the move.
Long-term storage isn't particularly expensive. You won't be out the excess cost for the move; HHG will deliver your goods at the expense of the Navy if/when you have an address.

Also, E-4s can file special request chits to live in town.

Quote
And re-enlisting due to paying off student loans is due to a little thing called interest. If I continue to pay down the loans monthly, I will end up paying an additional $12,000 with the 6% rate provided by SCRA. If you have a better solution that would prevent me from having to pay that additional $12k, I would love to hear it.
Thanks for the financial lesson. Here's one for you: Why don't you look up 'net present value.' Then do some spreadsheet analysis with inflation and realize that the $12k of tax-deductible expenses spread over the term of the loan is not even close to writing a $12,000 check today. Quick rough estimate: If it's 10-year loan with 2% inflation, around $8,750 (assuming the writoff counts toward earnings in the 15% tax bracket).

$32k is not that much student loan debt, but if that's your price then go ahead and reenlist. I'm sure you'll think those two years of your life were worth it when you are old and gray.

Quote
I actually have a 4-year degree already (gpa prevented me from going officer)
Shoulda paid more attention in math
« Last Edit: Oct 29, 2014, 04:57 by spekkio »

Offline MMM

Re: Re-enlisting
« Reply #8 on: Oct 29, 2014, 09:10 »
When the movers transfer your HHG to a state, if you do not provide an address for them to take the goods they will place it in temporary storage which is free for up to 90 days. That is what you are entitled to. After that, you have to supply an address for your stuff to be taken. If I'm not E-5 by the time that 90 days is up, I will not be able to provide an address which means I would be out excess costs for the move.
And re-enlisting due to paying off student loans is due to a little thing called interest. If I continue to pay down the loans monthly, I will end up paying an additional $12,000 with the 6% rate provided by SCRA. If you have a better solution that would prevent me from having to pay that additional $12k, I would love to hear it.

If you're at an arduous sea command, which you are, you can store your HHG indefinitely. When I moved from VA to WA, My stuff was in storage for almost a year.

As far as reenlisting goes, wait until you've done an underway or two. You can STAR reenlist up until you're extension goes into effect at your 4 year point and have the extension count for your reenlistment bonus.

Offline spekkio

Re: Re-enlisting
« Reply #9 on: Oct 29, 2014, 10:17 »
OP decided to PM me with this gem and then deleted his account
Quote from: txag2012
Thanks for the information on long-term storage.
And I don't need you telling me what to pay attention to, I didn't ask you. Learn to have a little more respect. I'll leave the information about my student loans to my financial advisor over at USAA. Not some random guy that wants to be a smartass about everything.

He can dish it with his 'there's this little thing called interest...' but can't take it.

Offline spekkio

Re: Re-enlisting
« Reply #10 on: Oct 29, 2014, 10:35 »
You guys are assholes.
I could have responded with something like 'I remember the first time I used Google,' but instead I decided to answer his question and got an attitude for it.

Because on the boat it's going to go like this:
"Hey EM1, can you tell me [insert this really easy piece of information that I can find elsewhere but am too lazy to look up]?"
"The RPM is over there, nub."

Offline GLW

Re: Re-enlisting
« Reply #11 on: Oct 30, 2014, 01:02 »
You guys are assholes.

mebbe,....

but there is a problem for the OP,....

this guy:

Quote
Quote from: txag2012

Thanks for the information on long-term storage.
And I don't need you telling me what to pay attention to, I didn't ask you. Learn to have a little more respect. I'll leave the information about my student loans to my financial advisor over at USAA. Not some random guy that wants to be a smartass about everything.

the financial advisor guy,....

will not be the guy (or gal) standing port & stbd watches for two more years under EOOWs he can't stand, on a boat (or ship) he can't stand and nowhere and noway to get away from it,...

will not be the guy who busted his ass to get EWS/EDPO only to find he can only stand the watch those few and far between times when the more senior LPOs/CPOs et al don't want the duty, like back in homeport after a six month WestPac,...

will not be the guy who misses his first child being born during year 7 of his 8 year hitch because, well, just because that happens all the time in the US Navy,....

so yeah, the OP has to choose and own the choice, and yeah, we're not very fuzzy or fluffy about it,...

but then, we been there and dun that,...

sometimes you get the deal all sweet like,...

most times not so much, most times it's to the hilt and it's not sweet at all,...

but, if you said yes to re-enlisting, please shut the hell up and own it,...

you were warned,...

now, put your tackle away, that's all the bobber wobble you're gonna get,.......most likely,.... [coffee]

been there, dun that,... the doormat to hell does not read "welcome", the doormat to hell reads "it's just business"

Offline spekkio

Re: Re-enlisting
« Reply #12 on: Oct 30, 2014, 10:39 »
What I also found funny is that he thinks that the USAA financial advisor is some kind of guru. It's good that USAA offers the service at no charge, but you're going to get the same Suse Orman canned answers from them that you'd find from any financial website on the web -- pay off debt, set up a retirement account, and oh have you looked at these USAA Mutual Funds with completely uncompetitive fee structures?

They aren't going to do a detailed NPV analysis of alternatives and risk assessment for you when you discuss 3 options for investing your reenlistment bonus.

USAA is a very good bank. USAA is a very good insurance company. They are not a good investment firm.
« Last Edit: Oct 30, 2014, 10:40 by spekkio »

Offline GLW

Re: Re-enlisting
« Reply #13 on: Dec 24, 2014, 10:43 »
....USAA is a very good bank. USAA is a very good insurance company. They are not a good investment firm.

every servicemember which reenlists is more likely to be a USAA customer just that much longer,...

CIVPAC has better options,...

Merry Christmas to all, active, retired & former,...
                                                                   
« Last Edit: Dec 24, 2014, 10:46 by GLW »

been there, dun that,... the doormat to hell does not read "welcome", the doormat to hell reads "it's just business"

 


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