Considerations for getting a house, apartment, or an RV as an Army O-1

[lolbin7]

I’m set to commission in the Army in December but have not branched or been given a duty station yet (Happens in November) but am expecting a logistical challenge. I’m going to school in Georgia but I live in Texas, I’m on a internship abroad this fall so I left most of my stuff in Texas.

My current and expected financial situation:

• Single, no kids, no pets
• Only debt is car with $9,601 at $263/m
• Planning on staying in for ~8 years
• Only planned expenses after commissioning are Vasectomy and LASIK surgery
• Not likely to have much money saved up after internship due to tuition, R&B, and living expenses.
• Likely inheritance of $100,000 in stocks in ten years from fathers death
• Putting 10% in TSP in Roth, will put another 10% in separate Roth account if possible.
• Hobbies in event photography and rock climbing (A7III+24-70GM already bought)

What should I be looking for to be better off financially starting out as an O-1? I’m expecting to move far and often with the Army so I want to plan best for that if that happens.

I don’t need to the space and won’t be in a position for a house and Apartments are almost as much as mortgages right now even when split with roommates in some places. RV is looking more flexible but is also a different lifestyle and will need a bit of savings. I don’t know the differences between on post housing for officers vs enlisted or if there even is a difference but all I’ve read is that most places have a several months long waitlist and that housing is flipping a coin on quality. I apologize if I’m overthinking it and making it worse than it seems.

Edit: for clarification. Father died in January but no Will was found so we have to go through an alimony process and then split the inheritance between my myself and my brothers. I’ve been told I won’t be able to touch any of the investment assets until after 10 years have passed to receive them without penalty and the total expected growth of the assets is ~$300,000

 

[christmasglow]

@lolbin7 It's killing me that you include your father's assets as your own after his potential death in 10 years.

 

[kitty346]

@christmasglow I’m really hoping that means OP’s father already passed and there’s a trust that doesn’t pay out until OP is 30 or so.

 

[firewife15]

@kitty346 The fact that he says likely inheritance leads me to believe he’s not sure if he’ll be on the will or not, I’m assuming his father isn’t dead yet…

But also like hey I don’t know this dude’s situation, or if his father has like told him to plan for it or what, no judgement here

 

[lolbin7]

@christmasglow My father died this January but his inheritance is still being determined because there was no Will found. The “expected” comes from what assets we could find and then evenly split between me and my brothers once it’s legal to receive them.

 

[madhatter99]

@lolbin7 Sorry for your loss and thank you for the explanation.