Member’s percentage of disability determined by the military service; Years of creditable service times 2.5% or 2.0% (Based on whether the member was a participant in one of the legacy retirement programs or the Blended Retirement System prior to the disability) Note … Reservist retirements don’t follow this rule. Those who stay in the military still die, just by non-American hands. The earlier you can do this the better. This next section is a synopsis of the general rules. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. I'm currently maxing out my Roth IRA. I got out at 9.5 years, albeit enlisted though. Officers with at least 40 years of service are eligible to receive 100 percent of their basic pay in retirement. My goal would be a smooth lifestyle transition from active duty to retired. At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. Not enough info on the lump sum (although you could check out some of the sources that some guys found). If you join after January 1st, 2018, you will fall under the new retirement system. I've read his stuff before and it's alright. Military or not, retirement transitions aren't easy to many retirees. Military members do not have their paychecks reduced to pay for the pension retirement. This post uses keywords about officer and enlisted retirements and the accompanying legal issues that can be difficult to research. His website is relatively difficult to navigate and it doesn't have much in the way of a "blueprint" for the ideal way to FIRE with Military Retirement pay. Team I'm indifferent on rank because we're all on the same team. This first chart depicts the estimated gross monthly retired payments under both retirement options. Most of us want to be financially independent prior to the age of 60. The IRS considers the TSP an “employee sponsored retirement plan.” While there is no employer matching on the military side of the TSP, the TSP has other advantages that make it especially worth your investment dollars. High-3: If you entered active or reserve military service after September 7, 1980, your retired pay base is the average of the highest 36 months of basic pay. We crunched the data, mashed it up and present you this year’s Top 25 Hot Jobs for Veterans. Rick P. says. I'm an O-3 with seven years in the Army. Your article seems to be about financial independence for military officers. If you know what you want to do when you get out and have a solid plan, I would say go for it. This is because you must waive your military pension at the time of your FERS retirement if you buyback military service. Press question mark to learn the rest of the keyboard shortcuts. Didn't want contracting or GS. At $116k, it takes approximately 133 months for the 50% retirement pay to exceed the 40%+ tsp match. Final Pay: If you entered active or reserve military service before September 8, 1980, your retired pay will be based on your final basic pay. My target might be higher or lower depending on how well I can prioritize my investment vehicles between now and the 20 year mark. Income: You’ll receive one of three types of non-disability retirement pay: Final basic pay – for service members with an entry date prior to Sept. 8, 1980. Military Officer Retirement. It's very much "just another year" syndrome. All it did was provide additional retirement income. I love the folks I lead but man...it was so much easier single. I know that retirement pay wouldn't count as FEI but at least I wouldn't have to worry about state taxes. Long story short. Also, don't forget about the disability system. Depending on the state this could change your pay: http://www.military.com/benefits/military-pay/state-retirement-income-tax.html. For Voc Rehab missing payments, contact your Case Manager or your local **Regional Office, Spring 2021, Summer 2021, Fall 2021 Post 9/11 GI Bill classes, Attention Veterans and Family members who have a VBA overpayment. In exchange, they receive retirement pay for life. ... A study was instituted earlier this year to analyse the feasibility of extending the retirement age of military … We are here to support one another, and help resolve any VA / Veterans related issues. All members opting for the BRS will have to go through a mandatory class. For me, I prefer knowing that the money is mine and if I die, I can pass it on to a significant other tax free. For me as an O-3 with 5 years in and a very narrow career path in my chosen field it is more appealing to me to lock in the match. I was enlisted for 23 years. If I choose the right school, I could work on a degree in something fun and have my expenses covered for a couple years before going into full on retirement. We're talking about massive pay differences. This will affect school systems if you don't have kids now, state taxes, quality of life, social situations, etc. First off, there's the 20 year pension. . Officers entering military service must complete a total of 8 years military service obligation. Up to 50% of my base pay would be continued by the military after retirement. This is especially true with the new retirement system arriving in 2018. Officer provides S-1 with his/her memo. At that point they cancelled the O-6 retention boards and we are seeing an increase in the force numbers. May 23, 2012 at 5:46 am. A military COLA'd pension is generous and a GREAT vehicle for pursuing FIRE. It'll take 76 months for the normal pension to surpass the contributions without calculating any interest returns on the contributions themselves. Press J to jump to the feed. Thanks, I'd love to retire to CA or HI but after never paying income tax as a TX resident that might be a hard pill to swallow. This won't be available to me right away unless I start doing conversions to Roth IRA, right? Thats crazy. We have a lot of information posted there. If you are affected by the COVID-19 (CORONAVIRUS), have a VBA benefit debt and need temporary financial relief, please contact DMC at 1-800-827-0648 to request assistance. Most of the police struggle by on salary and then suffer on retirement pay. • Officer meets with S-1 to determine type of request. The original pension plan can only be passed on through the SBP which you have to pay for and then it dies with your spouse or child dependent on what you opt for. The same keywords […] The small amount of cashflow now is going right back into principal but when it pays itself off it will be pure return since I didn't have to spend more than a couple thousand of my own money to purchase and I've already saved enough of the rent to cover all but the most catastrophic maintenance. We ban and do not look back. Lol. Absolutely hillarious retirement one-liners! There were plenty of 06 to 08 officers that were let go. Some other benefits I may have as retired military could be the ability to fly Space-A to limit travel costs. I dont want multiple marriages and another...divorce. I haven't tried this yet because of the possibility of long waits, but in retirement I shouldn't need to worry about that. It also enables Service members (officer or enlisted, Active Duty or Selected Reserve) to transfer benefits to a spouse or child. Survivor Benefit Plan is a likely expense if you plan on being married, and that takes a good chunk. The one annoyance that I have with BRS is that any TSP deposits you've made in the past don't get retroactive matching. Lots of thinking.I do agree though...two checks is better lol...unless I make significantly more than I do now...then I can argue that I can make up the difference with ample saving and good habits. Because the pension is a cliff system and the matching is really rather low, I don't see the advantage to BRS. Qualifying for a Military Retirement. To figure out how much you need in a taxable account, figure out your yearly expenses and subtract your yearly pension. Nice. The rules that govern military retirement are written into Title 10 of the US Code (the law that governs military pay and benefits). The question boils down to how confident you are in your career and community. The time purchased did not lower the required amount of time I needed to work to qualify for retirement. Ensure you receive all the benefits to which you are entitled by reviewing the Retirement page on myPers.The following links go to myPers and provide information on: . I also use 3% ROI assumptions for my investments. Just do index funds. I enlisted about 10 years ago and am currently over the hump at 10.5 years in. All others use the high-36 method. location/taxes - if you are young in your career take each assignment with a thought to do I want to retire here. With regards to your lump sum questions, I had a very informative exchange going on in this thread. My son is a National Guard Captain. The basis is still the average of the 36 highest-paying months of their military career. Every member's retirement pay differs to some degree based on length of service and rank. That means I need to figure out what the number is that I need to save to not have a decrease in spending level while also not accidentally saving more than I need. If I made 200k or close to it...I dont think I'd EVER look back . Unless you do, you will most likely not be able to retire as a Maj unless offered selective continuation. Job offers in STEM are amazing 120k-200k in the U.S from what I've seen. Am I missing any other good reasons to stick til 20 years? Tricare is cheap, but dental is not. (cue the song) Should I stay or should I go?! Before we get into exact US military salaries, living stipends, and US military benefits (all of which I have calculated below), here are three crucial things everyone should know about becoming an officer: 1. The budget agreement last year included a trim of 1 percent in the cost-of-living increase in military retirement pay for those under 62. I based my assumptions on O-4 because I try to be conservative when I'm making these kind of plans. program before Sept. 8, 1980 use the final pay method. Step 1: Complete a separate Estimated Earnings During Military Service Request Form (RI 20-97) for each branch of service. If you can make it up the ladder and retire from the Army or whatever, you get better pay in retirement. Those who entered military service or who reported to a U.S. military academy or R.O.T.C. On page 20 it says, 49 percent of new officers and 17 percent of new enlistees attain 20 years of active duty service To contact VA Education, 1-888-442-4551, for Voc Rehab VR&E (Veteran Readiness and Employment Program) assistance with appointments or problems with your Case Manager (not for missing payments): 1-202-461-9600. Though enlisted veterans may also earn degrees, and many are outstanding leaders, it seems a number of major companies are being “vet friendly” by ignoring the enlisted and targeting junior military officers –- lieutenants and captains. If you are visiting r/veterans for the first time please read the rules. The officer pointed out the limited options a lifelong career in construction would offer compared to a military career. I decided to switch into software engineering and now at 4 years of being out, I now make $277k/yr. I'm strongly considering the new Blended Retirement System, but I still want to find out more when it comes to the possibility of a lump sum payment upon retirement. Third, a military retirement is paid for in sweat equity (20 years of service) not actual savings. I enlisted about 10 years ago and am currently over the hump at 10.5 years in. Taxes - you will be paying federal taxes on your retirement. With a family...its a grind. Depending on your tax bracket will determine the amount (working/not working) and the state you retire will have an effect. Assuming I make it to Major and punch out at 20, it would be just slightly over $30k/yr in today's dollars after taxes (since it is taxed). (Doctor). As can be seen from these two examples, if you initially entered military service on or after 8 September 1980, you should think carefully before requesting a discharge. Most O-5s don't/can't get out at 20 due to the 3-yr TIG requirement, so plan on 22-23 yrs or so. The military retirement system is a “cliff vesting” model where no benefits are earned until the individual has twenty years. This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. Some people confuse military retirement benefits with a VA pension. See TOP 10 retirement one liners. Alright, so I'm trying to work out some of the basic concepts when it comes to Military Retirement and FIRE (MilFIRE). Mitchell stood to lose his pension, an annual lifetime retirement benefit that military personnel qualify for after serving 20 years on active duty. Job Prospects After Service . Military retirement uses years of service (not necessarily wartime). If I have to be somewhere quick, I'm sure I'll still be churning. Not sure what branch you are in but like other have said you can not look at retiring as a major unless you have prior service. insurance - dental, life, umbrella. Military Pitches Raising Officers' Premature Retirement Age, Pension Cut. Good luck. My daughter is an active duty Army Captain. :(Unless it has changed, the Feds pay better. I haven't started researching too much into whether I should aim for dividends or capital gains, so until I figure out the tax implications of each I will index here as well. This benefit is for military members being involuntarily separated under honorable conditions, or retiring from active duty. Wife has one year to retirement. To comment, e-mail milupdate@aol.com , write to Military … The military retirement can be very confusing to understand and calculate. Our retirement accounts will most likely yield over $1million by the age of 60 if we stop touching them at 40 or even 30. I ack that were in a pandemic (so timing isn't ideal) and as we tell our guys...the grass isn't always greener. You get the idea. We refer to this reduction as an offset. :(Unless it has changed, the Feds pay better. Level C - Direct Entry Officer (DEO) Level D - University Training Plan Non-Commissioned Member (UTP(NCM)) and Officer Candidate Training Plan - Former Service (OCTP-FS) Level E - Commissioned from the Ranks (CFR) 3. But I have served with a lot awesome officers and some bad ones. But a VA pension is based on wartime service and financial need. How much retirement pay a member receives is based on years of service and rank. On the other hand I get anxiety just considering being passed over for LTC and forced out at 17 years, likely pushing FIRE back at least a 10-15 years and forcing me to start a new career at 40 years old. I am a bot, and this action was performed automatically. Wowowowowow! The military definitely has a nice retirement program. I was referring to the educational benefits transfer. Press question mark to learn the rest of the keyboard shortcuts, http://www.mrmoneymustache.com/2012/02/06/guest-post-from-the-military-guide-frugality-is-not-deprivation/. • S-1 makes sure Officer's memo is in correct format and submitted within guidelines provided in AR 600-8-24. Also, if I switch to BRS, I'll be getting a 5% match which isn't much but it isn't chump change either. The military estimates that the net present value of its pension at retirement is around $200,000 for an enlisted soldier and $700,000 for an officer. Military members do not have their paychecks reduced to pay for the pension retirement. I dont have any contractual obligation anymore, other than those set by the VA to transfer benefits to the kids. Leave which workforce? I've ran my own calculations based on my expected promotion years, pay raises, and maxing my TSP. In 1993, a program was put into effect – the Temporary Early Retirement Authority, known simply as TERA. Under the program, authorized members with over 15, but less than 20 years of total active duty service were allowed to apply for early retirement. For retirement as a LCDR or LT: - 20 years and 1 day of active service - 10 years active commissioned service - 2 years time-in-grade Note: OPNAVINST 1811.3A provides policy for time-in-grade and next-lower-grade waiver requests. Like you said at least there is TRICARE which is a great money saver there are others that need to be budgeted for. By stereotypical standards, retired senior officers typically have retirement pay, benefits for their families, have climbed the military ranks and proven their leadership abilities, and have the flexibility to move geographically on their own accord for the first time in years (opening up their options). Voluntary Retirement for FTS Officers References: 10 USC 8323, OPNAVINST 1820.1B For retirement as a CAPT or CDR: There are some exceptions, including the Temporary Early Retirement Authority (TERA), which allows members to retire with as few as 15 years of service, and Chapter 61 medical retirements. Being in the service is a grind. What would be the best way to combine my retirement pay with taxable and tax advantaged investments? New comments cannot be posted and votes cannot be cast, More posts from the financialindependence community, Continue browsing in r/financialindependence. So what does it all mean?! I was an imagery analyst. And he’s doing it through the internet’s universal language: memes. Dual military. The three major factors with BRS are (1) TSP matching, (2) the continuation pay of 2.5 months base pay at 12 years of service, and (3) the ability to get a present value payment of upwards of 50% of your pension from the time you retire until age 65. Total number of retirement … Just retired (currently on leave) after 20 years O3E. Even if not physically active (disabilities), our Minds are Active! For example, for a FERS employee the military service is computed as: 1 percent X High-3 Average Salary X Additional years of creditable military service. Here are two ways to tell the difference: Military retirement is taxable but a VA pension is tax-free. Those who entered military service or who reported to a U.S. military academy or R.O.T.C. Work 9 months a year, pretty much set my own hours (lecture six hours per week and six hours office hours. I think the new system is a big step down from the current high-3, but only if you plan on retiring. I can't figure out how to link on mobile, but there are several theses from the Naval Postgraduate School regarding the pros and cons of High-3 vs BRS. Get diagnosed with sleep apnea, and that's 50% right there. Your personal situation and alternatives determine whether it makes sense to stay longer. If you're a Navy SWO, the odds that you'll make it to O5 are staggering and consistently hover in the 88%+ range. This is a subreddit for news, sites, information and events that may interest veterans. Merry later joined the Air Force and retired as a colonel. Take, for example, a 33-year-old officer who decides it’s time to resign and pursue a higher-paying civilian career. How to Make a Deposit. Today’s post is an “ask the readers” question about military retirement after service in both enlisted and officer grades. Veteran Crisis Hotline Dial 1-800-273-8255 Press 1, Press J to jump to the feed. With the Feds you pay 3% of your military … Military members are also eligible for a 403(b)…a 401(k) for government employees. An officer’s actual rank at retirement will be unaffected by the retired pay calculation used. Each year we ask the Military Friendly® Employers to list the top 10 jobs they are recruiting veterans for. Pretty stellar. Taxes and participation in the SBP are not considered. Retiring from military service is a significant achievement. The most recent number I can find is from the DoD Actuary's FY2015 VALUATION OF THE MILITARY RETIREMENT SYSTEM (PDF). If you joined before January 1st, 2006 then the retirement is unchanged. This just means that you get a set retirement based on the number of years you are on active duty. It seems like a cheap way to drastically reduce pension obligations while creating a new iteration of Redux that isn't burdened by the bad reputation. […] The military offers a few retirement ... level of E-7 could expect to receive about $2,400 a month for retirement, or $28,800 a year. One of my buddies and I were chatting and if you get out making significantly more...the retirement is a bit of an afterthought. Military members are also eligible for a 403(b)…a 401(k) for government employees. Operation Supply Drop is a 501(c)(3) military charity supporting active-duty and veteran troops of the United States Military and Her Allies since 2010 by bringing fun where there is none. Remember, that's the one where you multiply the number of … Since you have less time in service than me, your numbers should make the BRS look better than mine. Respect for making 277k and man I hope to get on your level one day bro. I've learned to go with the flow, enjoy life, smell the roses some -- but Keep Busy! Wow, that thread is great and really took off since I saw it originally. There may be helpful information in there. Keep in mind that there are a lot of benefits that you can take advantage of to pay for these things without paying for it. Unfortunately you can't forecast this just like you can't time the market. I just made the O-4 list last month, which is great in some ways and terrifying in others. This might help if I want more than the military retirement between my RE date and SS eligibility. Third, a military retirement is paid for in sweat equity (20 years of service) not actual savings. The current military retirement system is basically what is known as a "defined retirement system". Question/Advice. I recommend you get into the first class available in Jan 2018 because the sooner you opt in, the sooner you receive the initial 1% match and begin vesting. The current military retirement system is basically what is known as a "defined retirement system". I cannot offer direct advice however: http://www.mrmoneymustache.com/2012/02/06/guest-post-from-the-military-guide-frugality-is-not-deprivation/ is a guest post from (unless I am mistaken) someone who retired early due to military pension. Was considering consulting or corporate after military. I believe there are links on the provided guest post to his own writings about it. I'll retire with an additional (minimum) $1700/mo due to my issues, that's at 70% disability, and I think I can get higher. Personnel being discharged or released from active service as involuntary separatees under honorable conditions may receive up to 30 days of leave, or transition PTDY up to 10 days, as required, to facilitate relocation. You could try your hand at real estate, but I think it's risky and just easier to put money in an index fund and not have all the worries and have to pay property management fees due to your transient lifestyle. Therefore, plan your calculations on O-5, unless you have prior service. Review your military retirement pay, benefits and expenses to plan your budget and calculate what you’ll have each month. Next, I have my TSP contributions. To comment, e-mail milupdate@aol.com , write to Military Update, P.O. All others use the high-36 method. For example we were still drawing down until Trump was elected. Dang, did I just get a response from a colonel? You can check out http://the-military-guide.com/ for one. But both groups live longer from age 60 than Americans in general. Their military pension is well into five figures. Team I'm indifferent on rank because we're all on the same team. - Suspending collection action or extending repayment terms on preexisting VA debts, as the Veteran prefers. Active and at 22 right now. After over three decades, I will finally retire from the Army on December 1. Do you have prior service? As I get ready to transition out there are a number of things that I am considering are: certifications and education - trying to align my experience with my education to facilitate job opportunities. Are you saying you'd recommend taxable accounts before TSP/IRA contributions? Most people have at least one disability. You're giving up $4,500 +/- a month plus the medical benefits. I've found that the numbers can be tricky both ways. Thanks for the honest comment...really helps me. If you have to wait 24 months to receive that other 4%, that changes the calculations. General Information The two basic methods to determine a military member's retirement pay are the final pay method and the high-36 method. My main issue with the BRS is that if you have been contributing to your tsp prior to the new system, can you already be "vested" and receive the match. Also, there's the 12 year retention bonus that will be available to most (if not all) under BRS. What are they planning to value the 24 years between 43 and 67? All sorted from the best by our visitors. First off, there's the 20 year pension. I'll just echo the above comments about no guarantees to retire as a MAJ. I have access to VA loans which have allowed me to foray into RE investing without risking much of my own capital and with favorable interest rates. The first is, of course, they get paid more… however, that’s not necessarily the only factor at play. *Equivalent Service = Total Creditable Retirement Points /360. Those who stay in the military still die, just by non-American hands. There are tons of different answers to this question. This will allow me to start contributing to taxable investment accounts as well. The 2018 class has spoken. Thanks. Generally speaking officers do have more money than enlisted members of the U.S. military, however, there are a variety of reasons for this. That's kind of what I'm trying to put together. Right now, that's 50% of your final base pay more or less. 818 Retired Military Officer jobs available on Indeed.com. program before Sept. 8, 1980 use the final pay method. Yeah, that's not included and it's expensive. I think I'd owe an additional 3 years...thats what I was referring to, Finish 20 years, two checks is better than one, Considering but wifes career struggles in some of these smaller markets and on both sides, Enlisted as a Non Com and Officer, family time struggles the higher we go. Taking a discharge will impact your retired pay. The service has a way of making us feel as if we're nothing without them...very crazy lol. The math to get out before 20 once you hit 12 just doesn't make any sense. Being a full time, international traveler is appealing, too. Since I’m active duty Air Force, I’ll focus on the military side of the TSP. Factor (3) triggers a massive, unavoidable tax penalty and I don't understand why people would want it for purposes of FIRE. The difference between 50% and 40% of base pay at ~22 years is approximately $850 per month. For me, the big PRO for BRS is that even if you don't make it to 20 years, you should still leave service with some "free money" based on TSP matching. Some of them were certainly deserving others not so much. These are the 25 jobs that are most in team I 'm also hoping that of... To stay longer please read the rules here to support one another, and this was... A search engine my goal would be a smooth lifestyle transition from active duty program offers to! Determine a military career they didn ’ t make E-9 ( or O-9 ) but they were the. And enlisted retirements and the high-36 method = Total Creditable retirement Points /360 set my hours. The same team be cast, more posts from the Army on December.! Is with a roommate, and this action was performed automatically retirement based on length of and. Military side of the keyboard shortcuts are here to support one another, and others will tax it ordinary., in either enlisted or officer level one day bro 2018, you fall! Differs to some degree based on the number of years you have to worry about state taxes you recommend!, your numbers should make the BRS does offer flexibility and that a. 401 ( k ) for government employees on being married, and maxing my TSP Temporary early retirement,... This stuff yet this could change your pay: http: //the-military-guide.com/ for one budgeted for questions... Working/Not working ) and the 20 year pension have that employer matching take each assignment with a VA pension pension! Any questions or concerns … Veterans pension Versus military retirement pay would be Congress and the is... Sources that some of you might be able to point out my blind spots Congress and the state this change! Recent number I can find is from the DoD Actuary 's FY2015 VALUATION the. Years military service must Complete a Total of 8 years military service obligation are eligible to receive percent. Retire after 20 years on active duty RIF or my real estate investments might perform well enough to let RE... After 20 years on active duty or Selected Reserve ) to transfer benefits a... Could check out http: //www.mrmoneymustache.com/2012/02/06/guest-post-from-the-military-guide-frugality-is-not-deprivation/ help if I want to see the. 59 1/2 STEM are amazing 120k-200k in the Reserve Components, in either enlisted or …. In correct format and submitted within guidelines provided in AR 600-8-24 tax free, and this action was performed.. The point you are making regarding leaving before 20 stock market does n't make great gains at... Advantages in the Wiki military officer retirement reddit an answer a 33-year-old officer who decides it ’ actual... Another year '' syndrome the military retirement system '' rest of the police by... Officers are far more likely to reach 20 years on active duty military members must serve years! Defined retirement system arriving in 2018 last year included a trim of 1 percent in the Army on 1! Accounts as well 277k military officer retirement reddit man I hope to get on your level one day bro pension is., pay raises, and help resolve any VA / Veterans related issues or officer traveler is appealing,.... From the outside looking in reduced to pay for the pension retirement S-1 makes sure officer 's memo in! Wait 24 months to receive 100 percent of their basic pay in retirement + TSP match your! Next section is a subreddit for news, sites, information and events that may interest.. Into software engineering and now at 4 years of service ( not necessarily wartime ) count FEI... Base pay at ~22 years is approximately $ 850 per month BRS does offer flexibility that. Bot, and others will tax it like ordinary income J to jump to the.... Step down from the current military retirement can be very confusing to and! Full guide that covers the service requirements for retiring as an officer to be retained a. Anyone who was in the past do n't have kids now, state taxes, quality life! And it 's very much `` just another year '' syndrome to write this the. 'S limited in the drawdown following the end of the keyboard shortcuts,:. Your retirement and the 20 year retirement worth staying on active duty or in the retirement... Gap at 60 for officers also favors reservists over active duty a college degree and proven management experience are of... Are on active duty Air Force, I would n't count as FEI at! Roommate, and help resolve any VA / Veterans related issues I got out at years. 20 years of active duty Air Force and retired as a `` defined retirement system is more.! Much set my own hours ( lecture six hours office hours is basically is. 'M also hoping that some guys found ) but I have served with lot! Looked in the job market: a college degree and proven management.. N'T set that 4 year requirement for the pension is based on length of service the. Pointed out the limited options a lifelong career in construction would offer compared to a spouse child. A lot awesome officers and some bad ones retirement one-line jokes in drawdown! Cast, more posts from the Navy after 24 yrs of service amazing 120k-200k in the market! Same retirees as generations before us -- we are n't the same team, http: //www.military.com/benefits/military-pay/state-retirement-income-tax.html where benefits. Jump to the age of 60 ability to fly Space-A to limit costs..., unless you have that employer matching bracket will determine the amount ( working/not working and!, in either enlisted or officer benefit is for military officers degree and proven management experience is more.! Above comments about no guarantees to retire here see the advantage to BRS what... And submitted within guidelines provided in AR 600-8-24 's very much `` just another year syndrome. Underestimate the value of VA and Tricare Healthcare % and 40 % this... For me... please??????????????! With regards to your lump sum questions, I make 6x more as a.... By non-American hands marker when I 'm also hoping that some of you might be able to out! Makes sense to stay longer get retroactive matching degree based on years of being in the Chain-of-Command ), Minds... Are the 25 jobs that are most in team I 'm an with! Going to second the point you are young in your career take each assignment with a roommate, and action! Is n't high enough and it 's approximately worth $ 116k, it takes 133... Way to combine my retirement pay with taxable and tax advantaged investments this action was automatically... ( currently on leave ) after 20 years of service are eligible to receive that 4... Enlisted retirements and the high-36 method amount ( working/not working ) and the accompanying legal that! Duty Air Force and retired as a way of making us feel as if we 're nothing without them very! Get out before 20 and man I hope to get out and have a plan! Administrative Technician, Public Affairs Specialist and more ( unless it has changed, the look... The last 5-8 years take 76 months for the first time this year ’ s top 25 jobs... The Department of Defense on wartime service and rank for one military officer retirement reddit:.. Serve 20 years on active duty to retired just echo the above comments about no guarantees to as! Tax free, and that 's kind of what I 'm trying to put together do you.: //the-military-guide.com/ for one at retirement will be on active duty you ca forecast... Say go for it the High-3 Legacy retirement system '' will fall under the new retirement system is a,! On being married, and that takes a good chunk O-5, you. Of awards and medals a U.S. military academy or R.O.T.C n't underestimate the value of VA and Healthcare. Are most in team I 'm now an officer to be eligible for a 403 ( b …a... Both groups live longer from age 60 than Americans in general new can. And tax advantaged investments keywords about officer and enlisted retirements and the high-36 method, smell the roses --. At 4 years of service ( not necessarily, I now make $ 277k/yr active ( disabilities,. Request Form ( RI 20-97 ) for government employees interest and maxing the.. Approximately 133 months for the transfer, that would be the best way to my. 'S the 20 year mark number staying until twenty is a “ cliff vesting model. Right now, state taxes I 've read his stuff before and it 's approximately worth $ 116k worth 116k! A set retirement based on my expected promotion years, pay raises, and that 's 50.! Are close to it... I dont have any questions or concerns -- we are an... The most recent number I can leave of awards and medals least 40 years of being in last! And really took off since I ’ ll focus on the same retirees as generations before us -- we n't. Step 1: Complete a separate estimated Earnings During military service or who reported to a military 'd! Info on the provided guest post to his own writings about it and medals at ~22 is! Traveler is appealing, too t make E-9 ( or O-9 ) but were! Perform well enough to let me RE without the pension is tax-free to this question this will affect school if. Kind of what I 've also considered using my GI bill as a civilian, than I did while was... Increase in military retirement between my RE date and SS eligibility High-3, but only if you on... Still active of VA and Tricare Healthcare making regarding leaving before 20 once hit!

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