Finances at UPT

[Guest eagledriver]

Hi all,

Headed down to sheppard for UPT this summer. I've been trying to get an idea for my finances. I was wondering if some guys could help clarify a few questions.

-What does it cost to live in the dorms or is it free? What about internet/cable/heat/water?

-How much can i expect to take home per month if I'm single, not using the TSP, etc. I assume I get flight pay for UPT? How do taxes and life insurance costs play in?

-How much per month do guys usually spend on food / fun?

-Anyone have good investment tips for the rest of the money i'm not blowing on beer?

also, I dont wanna sound like i'm looking forward to the money more than the flying (quite the opposite), I just wanna get an idea of what kind of lifestyle to expect.

thanks

[163 FS]

Dorms are free, they will pay heat, water, elec...you will have to pay for phone, cable, internet, etc.

Base pay for an 0-1 is somewhere around $2300/month. Flight pay is $125 once you start UPT. BAS is around $175/month. Take out normal taxes, $20 for SGLI (life insurance) and I'm sure there is more, but I can't remember right now.

How much you spend is up to you...eating out every night or the Super Walmart?

ROTH IRA and TSP are good investment tools for you.

[Champ Kind]

Check out this website (linked from the baseops.net finances page). It gives a pretty accurate measure of what your pay should be.

https://ngaaz.org/mpc.aspx

[Guest HighSchoolPilot]

Does anyone ever eat on the base? Does the base provide a cafeteria? I have never been on a base.. THanks

[Guest jmac2222]

there is a DFAC on base, but you wont be eating there. unless you are tdy, officers are restricted from eating at the DFAC. Sheppard has some really good BBQ.

I am a finance officer, by the way, so any ?s just shoot. My email is jcmccl01@usa.com

Cheers

[Guest medik6]

Look into USAA. It is for military members and they have a program that if you invest your flight pay for your entire career you will have a million dollars when you retire. They also have great car insurance rates

[Champ Kind]

They have dining facilities on some bases that are open for limited use for officers (ie, sometimes just breakfast and dinner). It's usually like five bucks or less for a full meal, and the food is usually pretty decent. However, they are traditionally for the enlisted guys, and you rarely see any officers there (at least at Maxwell and Columbus, the only two I've ever been to).

[Vetter]

Hey eagledriver...do you know RaptorPilot?

[Guest mrharvester]

Originally posted by Vetter:

Hey eagledriver...do you know RaptorPilot?

Nice. :D

Seriously, check out getting a Roth IRA. The TSP is an ok deal but you don't really have a tax burden to reduce. USAA is a great place to start looking at an IRA and for insurance.

Some of the studs here at Sheppard eat at the dining facility occaisionally. There is only one you can go to as an officer. You're supposed to be TDY to use it, but no one really cares.

[JS]

Originally posted by HighSchoolPilot:

Does anyone ever eat on the base? Does the base provide a cafeteria? I have never been on a base.. THanks

Around a year ago, Columbus allowed officers (UPT studs) to use the dining facility for breakfast and dinner only. A few weeks ago, they added lunch too. Like Phlash mentioned, the food is pretty good and a meal usually goes for $3-$4 including salad, drinks, and dessert.

I used to hit the dining hall at CBM every once in a while, and I always saw other studs there (not a lot of them, but usually 6-12 or so).

[Smokin]

For single officers (which if you're talking about the dorms, I guess you are) finances are rarely a problem. The single guys in my flight generally have nicer cars , probably since they don't have time to spend their money on much else down here.

As far as the investments, I try to do the Roth and the TSP. The Roth is just my retirement plan. The TSP is nice cuz they take it directly out of your paycheck, if you never see it you never miss it, right? Anyway, I plan on using it for a house when my 20-30 years is up.

[Ryder1587]

1 Million after flight pay given to them? Is there anywhere I can read on this?

[ghost_ttu]

Eagledriver,

First I have to agree with vetter, might want to check that screenname, even if you got picked up for guard and are "going" to 15's, I doubt many eagledrivers will be in a hurry to let you in their lil club if you don't even have any tweet time.

Pay,

I'm 2Lt, no dependents, I have the max SGLI and I'm a Texas resident. My take home every paycheck is about 1042.00. I use my cell phone so I don't have a phone installed, and cable basic is like 10 bucks, extended cable is another 32 bucks. High speed internet is 30 bucks. They have a deal right now where you get the 3M down for 30/month and then it goes to 49/month, but at the end of 6 months you can switch to 1M down and keep it at 30/month.

The rest of the bills are based on your spending habits.

[Guest Dirt Beater]

So you're talking 1042 every 2 weeks, right?

[Guest crobey]

Originally posted by Dirt Beater:

So you're talking 1042 every 2 weeks, right?

No. Twice a month, the 1st and 15th of each month. That makes 24 paychecks instead of 26. :)

[Champ Kind]

Originally posted by ghost_ttu:

I doubt many eagledrivers will be in a hurry to let you in their lil club if you don't even have any tweet time.

Maybe Cessna has some new aircraft out called the "Eagle". Like a souped up 152 or something! 140 pure American horsepower. Has a HUD, launches flares & everything.