I’ve been watching NetworthIQ.com for several years. I was initially attracted to is as a way to grade myself according to the example of others progress. Then it was just entertaining. (Some of the regular contributors should be stand up comics.)
If you’re considering retiring on a military pension but wondering if it can be done, than wonder no longer. A contributor at NetworthIQ posted their experience of doing just that. The contributor, whose screen name is “Cheers” writes :
“Dual retired naval officers with 2 children — one in high school, one in kindergarten!! I retired at age 41, my husband at 46.”
It’s a great story of a dual military-couple who both make it all the way to retirement still married and who can look forward to a long future together without having to worry about money.
The real critical quote, however is this one:
“In retirement we have transitioned from living below our means to now living within our means.”
If you get into the savings habit early, then you’ll be ready for the transition. In fact, it’s likely that you’ll feel strange spending your income instead of saving it.
Most people don’t know what they need in retirement. That’s why having a budget and reviewing it periodically can help. Instead of guessing what your “number” is, you’ll know.
Congratulations, “Cheers” on your service to your country and your retirement. You give the rest of us a great deal of hope for success!