The Thrift Savings Plan, or TSP, became available to military members more than a decade ago. It offers us the ability to save money before taxes come out, allowing the money to grow over time and then be taxed as ordinary income when we tap into it. Most military members are not professional money managers, … Continue reading
Money Magazine has just released their annual list of the Top 100 Places to Live. I’m always attracted to the list because as I get closer to my military retirement I’m often asked where I’ll live. For many this question is a foregone conclusion. They’ll return to their home of record, closer to family, their … Continue reading
Simply put, the value of the retirement benefit depends on the life expectancy of the veteran. According to the Social Security Administration, a male retiree 45 years old will live for about another 32 years(http://www.ssa.gov/OACT/STATS/table4c6.html). If he retired from the military as an O-5 with 22 years of service, his retirement benefit would be $4274 … Continue reading
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