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yourmilitarymoney

yourmilitarymoney has written 211 posts for Your Military Money

Buy or Rent?

A recent article in the Air Force Times newspaper discussed the topic of whether military members should buy or rent a home following a PCS move. With the summer move cycle upon us, many active duty service members are considering the options now. The desire to own the home you live in is a strong … Continue reading

Roth TSP or Roth IRA

Now that the official announcement is out regarding the ROTH TSP accounts, it’s time to evaluate the options. First, review the details. ROTH TSP: Contributions are post-tax No income limitations for ROTH TSP contributions Contribution limits are $17,000 for taxpayers younger than 50 years (plus $5,500 catch up if older than 50) Earnings are tax … Continue reading

In Consideration of Living Abroad

Photo Credit: Dreamstime.com The popularity of HGTV’s House Hunter International program demonstrates that Americans are at least intrigued with the idea of living abroad. The images of beach-side hideaways and cobblestone streets are appealing, and all the real estate agents speak English without an accent. Marketwatch published an article about the world’s top 10 retirement … Continue reading

New Raise…Keep It

If you’re an active duty military member, you just received your first paycheck for 2012. Like me you saw a raise of 1.6%. If you haven’t already done so, consider contributing this increase to your personal savings program, whether that’s your TSP, a ROTH IRA, or just a savings account. Over time this process of … Continue reading

Max Out Your TSP in 2012

We’ve just updated the “Max Out Your TSP” table for the proposed 1.6% military active duty pay increase for 2012. Here’s the link. Here’s how you use it. In this example, a Major (O-4) with more than 18 years of service would go to MyPay.gov, select the TSP link, and select 19.8% as their monthly … Continue reading

TSP Limit for 2012

Internal Revenue Code (IRC) 2012 contribution limits — You can contribute up to $17,000 in tax-deferred money to the TSP in 2012. If you are a member of the uniformed services, you can contribute a total of $50,000 in tax-deferred and tax-exempt money. If you will be age 50 or over in 2012, you can … Continue reading

SBP DIC Offset Headlines Making Headlines

If you’re a military member now or a disabled retiree you have probably been watching the recent headlines about spouses of now deceased veterans having to remarry to collect benefits. First, let’s think about the Government’s intent. The intent is to provide every surviving spouse a stipend in the event of a military member on … Continue reading

TRICARE Supplement Policies

Here’s my current list of available TRICARE Supplements. Please comment on any/all of them if you have experience with the companies. Air Force Association American Military Retirees Association Uniformed Services Benefits Association Military Officers Association of America Military Benefits Association Retired Association of the Uniformed Services Reserve Officers Association TRICARE Reserve Select Association of the … Continue reading

Finding the right Post-Military Health Care Insurance

I’ve been researching the private health and dental options for our family, specifically as my oldest is about to graduate from college. Fortunately, Tricare Young Adult will help us bridge the gap, but I thought I could do better than $180+/Mo, with a 20% co-pay and deductable. Turns out that unless we spring for a … Continue reading

Top-Paying Post-Military Careers

Here’s a link to a great article about the best paying Post-Military Careers. What I like about it is the active links to the available jobs and the career overview with salary statistics. This could be valuable when negotiating a salary and benefits package.

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