Joining the Military Later in Life

Thinking about joining the military later in life? You're not alone. Many individuals choose to enlist or commission into the armed forces after spending years in civilian careers. Whether driven by a sense of duty, the pursuit of new challenges, or the benefits that come with military service, joining the military later in life can be a rewarding decision. However, it also comes with unique challenges, especially when it comes to managing existing financial obligations. Here’s what you need to know.

The Benefits of Joining the Military Later in Life

1. Experience and Maturity: Older recruits often bring a wealth of life experience and maturity that can be valuable assets in the military. These qualities can help in leadership roles and decision-making processes.
2. Career Opportunities: The military offers a wide range of career opportunities, from technical and medical fields to administrative and leadership positions. Many of these roles come with extensive training and education benefits.
3. Health and Retirement Benefits: Military service provides comprehensive health care for you and your family, as well as retirement benefits that can significantly enhance your financial security in the long term.
4. Educational Benefits: Programs like the GI Bill can help pay for college or vocational training, providing a significant advantage for those looking to further their education.

The Challenges of Joining Later in Life

1. Physical Demands: Basic training and military life can be physically demanding. Older recruits need to prepare themselves physically and mentally for the challenges ahead.
2. Family Considerations: If you have a family, the transition to military life can be challenging. Frequent relocations and deployments can be tough on spouses and children.
3. Financial Obligations: Managing existing debts, such as mortgages, car loans, and credit card debt, can be more complex when you’re transitioning to a military salary.

How SCRA Saver Can Help

The Servicemembers Civil Relief Act (SCRA) provides a range of financial protections designed to ease the burden on servicemembers. Here’s how SCRA Saver can help you take full advantage of these benefits:

1. Interest Rate Caps: The SCRA caps interest rates on pre-service loans and debts at 6%. This can significantly reduce your monthly payments and total interest paid over time.
2. Fee Waivers: Many credit card companies and lenders waive fees for active-duty servicemembers. SCRA Saver helps ensure you get these benefits, reducing financial stress.
3. Lease Termination: If you need to break a lease due to a permanent change of station (PCS) or deployment, the SCRA allows you to do so without penalty. SCRA Saver can assist you in navigating this process smoothly.
4. Foreclosure and Repossession Protections: The SCRA prevents foreclosure or repossession of property purchased before active duty without a court order, providing peace of mind.
5. Legal Support: SCRA Saver offers resources and support to help you understand your legal rights under the SCRA, ensuring you’re fully protected.

Tips for a Smooth Transition

1. Get Financially Prepared: Review your current financial situation and make use of SCRA benefits to ease the transition. Contact lenders and creditors to inform them of your active duty status.
2. Physical Preparation: Start a fitness regimen to prepare for the physical demands of basic training.
3. Family Readiness: Discuss the upcoming changes with your family and plan together. Utilize military family support resources to help with the transition.
4. Stay Informed: Keep yourself informed about all available benefits and resources. Regularly check the SCRA Saver blog and other military support sites for updates and tips.