Take fifteen minutes now, become a millionaire later

  • Published
  • By Airman Kai White
  • 1st Special Operations Wing Public Affairs
HURLBURT FIELD, Fla. --  A scheduling conflict gave an Airman an extra 15 minutes to stop by the Airman and Family Readiness Center here.

That spare time allowed him to sit down with a financial counselor and set up his Roth Thrift Savings Plan.

Airman Peter Vasiljev, 2nd Combat Weather Systems Squadron weather systems technician, has only been at Hurlburt Field for a few weeks, but says he has heard about the TSP since the beginning of basic training.

“Ever since basic training, TSP was thrown in there, but tech school was when they really pushed for it,” said Vasiljev. “We had instructors in the school house that would constantly remind us about it. Just understanding Individual Retirement Accounts and how compound interest works, that was a big reason for me to start it now.”

Thelma Few, 1st Special Operations Force Support Squadron community readiness consultant, reiterates Vasiljev’s plan for the future with some advice of her own for service members.

“It doesn’t matter whether you retire as a chief or a colonel, you’re not going to be able to live off that retirement check,” said Few. “Even if you don’t stay in for 20 years, say you only stay in for four or six, if you start investing in TSP from the get-go, you’ve got all those years of compound interest that are working for you. So you really can be a millionaire, you really can.”

Vasiljev echoes that while becoming a millionaire is the ideal goal, there is a lot more to being financially prepared for your future than just investing in TSP.

“I’m trying to make sure that I have the option, when I come to the end of the contract, that if I want to leave, I don’t feel trapped here financially,” he said. “So I want to make a good financial base.”

That kind of financial resiliency can help prevent many of life’s unexpected complications.

“Some of the stories I’ve heard are that people get to the end of their contract and they want to get out; but there are so many benefits in the military, and so many things that are taken care of for you, that they can’t leave without feeling financially insecure,” said Vasiljev. “I don’t want to feel that way.”

From Airmen like Vasiljev preparing for their uncertain future, to those looking toward retirement, the AFRC is here to help.

“It’s what we enjoy doing, we enjoy helping the Airmen, and for me personally, it’s a passion,” said Few. “The message we like to get out to folks is to not be embarrassed to come in here. We are not here to judge you; we are here to help you.”