Transitioning out of the military is becoming a hot topic these days. Recently, 1,100 Army captains and 550 Army majors received word that they are being released from the military early. Secretary Chuck Hagel proposed a plan in February to drop the active Army by 130,000 troops (from 570,000 to 440,000 troops). Most of these officers and a lot of the noncommissioned officers (NCOs) had planned to stay 20 years in the Army so that they can receive their full retirement and medical benefits but are being released early and therefore cannot meet their full retirement.
As someone who transitioned out of the Army in 2008, I have some tips I would like to share with my fellow soon-to-be veterans. First of all, you are all heroes. I salute you and would personally like to thank you for your service. If you were hit by this draw down, know that it has happened to a first class group of officers and NCOs. You all have been through a lot and are the best this nation has to offer.
Without further ado, here are the tips.
Keep Your Medical Records
When you are going through out processing, keep all your medical records. You will need them time and time again and the military will lose them time and time again. Between the medical clinic, the hospital, the VA, Human Resources Command, and the National Guard or Army Reserve, someone is going to lose your records. So when it comes time to turn your records in, make a photo copy and turn in the photo copy. Keep all originals.
Consider the National Guard or Army Reserve
When you get out of the Army, you are losing your basic allowance for housing (BAH), your basic allowance for subsistence (BAS), your Commissary benefits, your PX/BX benefits, your medical benefits, your dental benefits, your retirement and any other benefits that go along with your service. That is a big hit to take and to make up for on such short notice. Healthcare coverage on the outside of the military is running $800 a month with a $10K deductible – not very attractive or worth it. If you join the reserve component, you will have access to ~$200 a month Tricare Reserve Select that has a very generous reimbursement plan. You will receive $700ish a month from one weekend a month as well. Plus, you get to serve your country again and have the comradery, which are usually things people miss (I know I do). Lastly and finally, you earn points toward getting retirement you worked so hard to try and obtain while active. The reserve component uses a points system and those with active duty time do very well once they hit 20 years.
Apply for an Advanced Degree Now
Use the Post 9-11 GI Bill. They help you with BAH and with full funding of your degree. Whatever level you are, you can go to school for up to 3 years. I personally recommend an executive MBA program (like the one at the University of South Florida) if you can get into one. That type of program is tailored toward those who are working professionals and meet on weekends or once every two weeks. This way you can earn a living and you can get your degree. The MBA is a very versatile and respectable degree that can be used to help you in any industry or as an entrepreneur. I recommend finding where you want to go now so that you can apply and know where you are going. This will give you an idea for your job search and where you want your residence.
Get on LinkedIn
To help you with your job search, LinkedIn is a great resource. Besides that it helps you connect with your network, other professionals, and recruiters, it also helps you learn what people are doing and what credentials and experience they have. It is a good measuring tool to help you gauge yourself. LinkedIn offers a free 1 year premium membership that helps you stand out above the crowd. Also, you should add as many people from your past from high school, college, every unit you have ever been in, family, friends, etc. Also add me, (Spence Rogers) I would gladly accept your invite. Be careful to only add people you know. And, you send up to 3,000 invites before you hit your limit. However, you can also request for more invites once you hit that point and LinkedIn usually gives you 3,000 more. Fill your profile out with everything you can. Take a look at mine and you will see how complete it is. Get endorsements by endorsing other people (they will turn around and do it for you). Most importantly, if you are seeking a job (which most will be), put “Seeking New Opportunity” or “Available for Job Opportunities” in your description tag line that shows up under your name. This will let recruiters know you are available for hire.
Reach out to Military Recruiters
The big two military recruiting companies are Lucas Group and Orion International. They have special relationships with Fortune 500 and 100 companies that can quickly help you get placed. Most major corporations have military recruiting departments. Reach out to them too. One key point, you will want to pick up the phone, not just send a bunch of emails. A phone call makes you more real to the recruiter and to the hiring manager. Here are some companies to check out that have military sections for their HR:
Here is a more comprehensive list of 100 companies that are friendly to military.
Square Away Your Real Estate Requirements
If you have a house you are needing to get out of or you are needing to buy one, call my friend and fellow veteran Eric Balough. He is CEO of Garry Owen Homes, a real estate investment company. He will give you all sorts of advice and will assist you with your real estate needs. His company is tailored for military real estate requirements. Also once you figure out where you want to live, it may be a good idea to use your VA Home Loan if you haven’t used it yet. Mortgage rates are at an all time low and there is no telling how long this will last.
Is there anything I forgot about transitioning out of the military? Do you have any other tips or updates for us? Please tell us below.
