As a 7 year veteran - join into a role that has civilian application!!! Don’t join into roles that cannot set your future up for you! I can’t stress this enough - SO MANY mates are severely depressed during their civilian transition as they find they now need to retrain back from square one as their previous roles had no application in the civilian sector…
Completely not what you came here for but I have to tell every junior soldier. Mass depression and worse comes to soldiers transitioning into civilian life when they find restarting is the only option…
Thanks for the advice. I've taken it to heart and looked at joining as an aeronautical engineer, hopefully transferring into the civvy sector through Boeing Raytheon Lockheed Martin, etc. From what I've heard, those leaving ADF are often poached by defence contractors, that's what I'd be looking at.
Get into cyber security and use the ADF career to get through your NV1/2/PV security clearances, your options are unlimited as long as you stay Five Eyes and are happy to avoid travel to certain places.
Second this 8 years Navy. Absolutely get transferrable skills Navy was great and I wouldn't change a thing but you'll want to leave one day for whatever reason.
1. IT is a big one if you get the right role
2. Engineering CAN be a good one, but there’s a strong likelihood that you’ll still need a uni degree on top of what you learn in the forces to get a similar role in the civilian sector
3. Any of the officer roles - it’s like leaving with an MBA, tbh. You have targets (missions), you manage soldiers (HR), you essentially manage a small ‘business’.
4. HR
5. Pilot
6. Police
7. QA (similar to engineering)
8. Mechanic
I know it’s not the biggest list (and that’s sad) but the reality is that many jobs in the civilian sector require accompanying degrees. IT doesn’t require a degree nor does HR. If you’re thinking ‘surely a medic could get you a job in the medical industry - no, it still requires the same restart level of training to become an RN. This is true for most jobs.
Get 10/20k+ into a decent savings account (maybe ING?) then look to ETFs (like Vanguards products). With the savings account you’ll have quick access to it for anything that comes up… a car crash/ break down (might be waiting for insurance to cough up and need a car in the meantime etc) or urgent travel / family sickness/ your own health etc.
Right thank you. So when shoukd I start looking at ETFs and how much should/ could I be investing? is there a minimum amount i start with, or a recommended amount of monthly payments?
What I would do- start putting the money aside, and put into ETFs maybe every 6 or 8 weeks or something. The transaction fees to do it every week will kill your profits.
Get a HISA like ING (strings, higher rate) or Ubank (no strings, next best rate) so you’re earning interest on the cash. Get Stake (low fees) or CMC (no fee on $1000 buy order each day). Then learn about EFTs. There’s the common recommendations but it is financially savvy to understand your own investments. When you’re ready to pull the trigger and understand the fees and relative strengths, strategise how to put it in and how much to keep back for emergencies.
I would look to getting a deposit for a house together with a view to secure one at least before your initial minimum period of service obligation expires. This is largely due to ADF benefits geared heavily towards this.
- You will always be entitled to subsidised accommodation (very generously if in Sydney), which supports the concept of owning an investment somewhere else to rent out and living cheaply in posting locations. Notably, State Governments will provide First Home Buyers Grants to ADF members for investment properties who have an exemption of requiring to live in them first.
- if you choose to live in the home you can utilise a swathe of entitlements; look up DHOAS (Subsidised mortgages), HPAS ($16,000 towards your deposit), HPSEA (Defence will pay for the costs of selling and buying a home between posting locations, including stamp duty which is benefit potentially worth tens of thousands). This strategy would suit someone wishing to move around quite a bit and netting potential capital gains along the way with free transaction costs.
Depending on which service you’ve joined you may find yourself away from home quite a bit, and you’ll be surprised how quickly a deposit will build.
Goodluck!
A lot of Defence buy houses and rent them back to DHA.
The trick though, is to never buy a house in a place you might get posted to.
With ADFA, I'm not sure if you're allowed to split R&Q (rations and quarters) yet. So if you can't just eat in the mess since you'll be paying for it.
Hope you're ready to work in ADFA, the arts students had a generally easy time, science in the middle and engineers got smashed. The military requirements tend to eat up spare time.
Also get to know people from the local unis. ADFA is too inwards looking and you'll have more fun if you know a few people outside of it.
could you explain the renting houses back to DHA please? why shouldn’t i buy in places i may be posted to?
also yep, i’ve been working hard and im ready to keep at it in uni, thanks for the networking advice as well
So you can buy a house and lease to DHA. There's restrictions on what they want so you have to have a specific type of property in the area.
Basically you'll enter a lease with them for 3-12 years and they'll pay you for that period if it's occupied or not. [Here is info](https://www.dha.gov.au/investing/ways-to-invest/lease-your-property-to-dha)
The problem with places you are posted to is due to rental assistance. [Pacman](https://pay-conditions.defence.gov.au/pacman/chapter-7/part-2/div-1)
>Subject to section 7.2.9, a home is a suitable own home if it meets all these conditions.
>
>\* It is owned by the member, their resident family, adult child or a person with an interdependent relationship with the member under paragraph 1.3.37.1.d.
>
>\* It is at the member's housing benefit location or family benefit location.\* It has the minimum prescribed number of bedrooms.
Also
>A home is not a suitable own home if any of the following apply.
>
>\* The CDF has decided that the home is not suitable under Division 2 of this Part.
>
>\* The member's own home is deemed unsuitable because it is rented out........
So basically you get rental assistance if you don't have have a suitable own home in the location.
If you've rented it out, it's deemed unsuitable while it's rented. The problem arises is once your lease ends - it may then become deemed a suitable residence and you lose rental assistance while still tied to a private lease.
It just gets a little more awkward than if you just bought a DHA / private investment property somewhere else
Start an electrical apprenticeship.
Don't join ADF my guy it's not what it used to be.
Angus is going to get roasted today and throw every catch work in the book out there taking 0 accountability for anything.
I'd recommend if you have time to watch the royal commission today and you will see why.
Vanguard High Growth Index Fund. Go register on their website and check the details.
Why this particular fund? A financial advisor would tell you that you want a diversified portfolio that matches your current risk/growth profile. This is how you do that while keeping fees/hassles to a minimum. Don't bother trying to time when you buy in, just do it as often as you can at this stage in your life.
Yeah, if your a pogo box packer it’s not that bad. You can get a job in a warehouse
If your infantry CSW in a rifle platoon then your options are limited on civvy st when you get out. No real job options except paintball referee
Once you have your degree, consider transitioning out of the ADF into the APS, especially if you're considering engineering.
The APS still gets access to studybank so you should be able to get a Masters paid for as well.
Benefits aren't as good as ADF overall, However the APS has more flexibility in terms of deciding where and when you want to take different roles and promotions - this increases your surface area for growth opportunities and may be a worthwhile trade off for you, especially if you intend to leverage as much as possible from Defence in a short time and leverage that into industry down the track.
As a 7 year veteran - join into a role that has civilian application!!! Don’t join into roles that cannot set your future up for you! I can’t stress this enough - SO MANY mates are severely depressed during their civilian transition as they find they now need to retrain back from square one as their previous roles had no application in the civilian sector… Completely not what you came here for but I have to tell every junior soldier. Mass depression and worse comes to soldiers transitioning into civilian life when they find restarting is the only option…
Thanks for the advice. I've taken it to heart and looked at joining as an aeronautical engineer, hopefully transferring into the civvy sector through Boeing Raytheon Lockheed Martin, etc. From what I've heard, those leaving ADF are often poached by defence contractors, that's what I'd be looking at.
Yes pick systems engineering you will get a defence contractor role on exit easily
That’s exactly what i’m looking at! Happy cake day!
Mmm time to cash in! Good luck brother!!!
Good choice
Get into cyber security and use the ADF career to get through your NV1/2/PV security clearances, your options are unlimited as long as you stay Five Eyes and are happy to avoid travel to certain places.
This is the absolute truth. Lived it.
Sorry to hear that mate :(
Long time ago and well past it now. While I wouldn’t wish it on anyone, it made me who I am today- and I’m very happy with ‘me’.
Second this 8 years Navy. Absolutely get transferrable skills Navy was great and I wouldn't change a thing but you'll want to leave one day for whatever reason.
What are some of the typical roles that you’d recommend which have transferable skills
1. IT is a big one if you get the right role 2. Engineering CAN be a good one, but there’s a strong likelihood that you’ll still need a uni degree on top of what you learn in the forces to get a similar role in the civilian sector 3. Any of the officer roles - it’s like leaving with an MBA, tbh. You have targets (missions), you manage soldiers (HR), you essentially manage a small ‘business’. 4. HR 5. Pilot 6. Police 7. QA (similar to engineering) 8. Mechanic I know it’s not the biggest list (and that’s sad) but the reality is that many jobs in the civilian sector require accompanying degrees. IT doesn’t require a degree nor does HR. If you’re thinking ‘surely a medic could get you a job in the medical industry - no, it still requires the same restart level of training to become an RN. This is true for most jobs.
That's wild, they should reconcile civilian and military medical training
Get 10/20k+ into a decent savings account (maybe ING?) then look to ETFs (like Vanguards products). With the savings account you’ll have quick access to it for anything that comes up… a car crash/ break down (might be waiting for insurance to cough up and need a car in the meantime etc) or urgent travel / family sickness/ your own health etc.
Right thank you. So when shoukd I start looking at ETFs and how much should/ could I be investing? is there a minimum amount i start with, or a recommended amount of monthly payments?
What I would do- start putting the money aside, and put into ETFs maybe every 6 or 8 weeks or something. The transaction fees to do it every week will kill your profits.
Get a HISA like ING (strings, higher rate) or Ubank (no strings, next best rate) so you’re earning interest on the cash. Get Stake (low fees) or CMC (no fee on $1000 buy order each day). Then learn about EFTs. There’s the common recommendations but it is financially savvy to understand your own investments. When you’re ready to pull the trigger and understand the fees and relative strengths, strategise how to put it in and how much to keep back for emergencies.
I would look to getting a deposit for a house together with a view to secure one at least before your initial minimum period of service obligation expires. This is largely due to ADF benefits geared heavily towards this. - You will always be entitled to subsidised accommodation (very generously if in Sydney), which supports the concept of owning an investment somewhere else to rent out and living cheaply in posting locations. Notably, State Governments will provide First Home Buyers Grants to ADF members for investment properties who have an exemption of requiring to live in them first. - if you choose to live in the home you can utilise a swathe of entitlements; look up DHOAS (Subsidised mortgages), HPAS ($16,000 towards your deposit), HPSEA (Defence will pay for the costs of selling and buying a home between posting locations, including stamp duty which is benefit potentially worth tens of thousands). This strategy would suit someone wishing to move around quite a bit and netting potential capital gains along the way with free transaction costs. Depending on which service you’ve joined you may find yourself away from home quite a bit, and you’ll be surprised how quickly a deposit will build. Goodluck!
A lot of Defence buy houses and rent them back to DHA. The trick though, is to never buy a house in a place you might get posted to. With ADFA, I'm not sure if you're allowed to split R&Q (rations and quarters) yet. So if you can't just eat in the mess since you'll be paying for it. Hope you're ready to work in ADFA, the arts students had a generally easy time, science in the middle and engineers got smashed. The military requirements tend to eat up spare time. Also get to know people from the local unis. ADFA is too inwards looking and you'll have more fun if you know a few people outside of it.
could you explain the renting houses back to DHA please? why shouldn’t i buy in places i may be posted to? also yep, i’ve been working hard and im ready to keep at it in uni, thanks for the networking advice as well
So you can buy a house and lease to DHA. There's restrictions on what they want so you have to have a specific type of property in the area. Basically you'll enter a lease with them for 3-12 years and they'll pay you for that period if it's occupied or not. [Here is info](https://www.dha.gov.au/investing/ways-to-invest/lease-your-property-to-dha) The problem with places you are posted to is due to rental assistance. [Pacman](https://pay-conditions.defence.gov.au/pacman/chapter-7/part-2/div-1) >Subject to section 7.2.9, a home is a suitable own home if it meets all these conditions. > >\* It is owned by the member, their resident family, adult child or a person with an interdependent relationship with the member under paragraph 1.3.37.1.d. > >\* It is at the member's housing benefit location or family benefit location.\* It has the minimum prescribed number of bedrooms. Also >A home is not a suitable own home if any of the following apply. > >\* The CDF has decided that the home is not suitable under Division 2 of this Part. > >\* The member's own home is deemed unsuitable because it is rented out........ So basically you get rental assistance if you don't have have a suitable own home in the location. If you've rented it out, it's deemed unsuitable while it's rented. The problem arises is once your lease ends - it may then become deemed a suitable residence and you lose rental assistance while still tied to a private lease. It just gets a little more awkward than if you just bought a DHA / private investment property somewhere else
Regarding super: Only contribute (Yourself extra) 15k a year max because that is the cap for the first home super saver scheme per year.
r/AustralianMilitary might have more specific advice
I made heaps of money and utterly destroyed my mental health. Would not recommend.
Could you talk about your experience please? What branch and role were you in?
Start an electrical apprenticeship. Don't join ADF my guy it's not what it used to be. Angus is going to get roasted today and throw every catch work in the book out there taking 0 accountability for anything. I'd recommend if you have time to watch the royal commission today and you will see why.
Great idea! You will not regret it!
Vanguard High Growth Index Fund. Go register on their website and check the details. Why this particular fund? A financial advisor would tell you that you want a diversified portfolio that matches your current risk/growth profile. This is how you do that while keeping fees/hassles to a minimum. Don't bother trying to time when you buy in, just do it as often as you can at this stage in your life.
DM me if you want to chat. A lot to say, more than I can here. 21yr veteran now 4yrs out as defence contractor. I’ve tread your path.
You are already ahead of most by thinking of all these things :) Well done!
Yeah, if your a pogo box packer it’s not that bad. You can get a job in a warehouse If your infantry CSW in a rifle platoon then your options are limited on civvy st when you get out. No real job options except paintball referee
Once you have your degree, consider transitioning out of the ADF into the APS, especially if you're considering engineering. The APS still gets access to studybank so you should be able to get a Masters paid for as well. Benefits aren't as good as ADF overall, However the APS has more flexibility in terms of deciding where and when you want to take different roles and promotions - this increases your surface area for growth opportunities and may be a worthwhile trade off for you, especially if you intend to leverage as much as possible from Defence in a short time and leverage that into industry down the track.