What I wish I had known Before Military Retirement
HTML-код
- Опубликовано: 16 сен 2024
- What I wish I had known Before Military Retirement: This video conveys critical information regarding Military Retirement, and the importance of planning ahead. This can make for a smooth transition into retirement. Retirement is one of the most challenging transitions you can experience. Let's talk about how you can make this transition as smooth as possible.
For more information on How To EnrichYour Marriage, check out our Main Channel Playlist NEWHEIGHTS ENRICHMENT: / @newheightsenrichment1311
Let me know what you think by commenting and rating this video! Don't forget to SUBSCRIBE :-) Thanks for watching.
Retired with a 7 figure portfolio and received about $53k in dividends. I have been in the stock market for 20years. Am I worried? Am I selling?
Absolutely not. I have purchased growth too a little time over the past few weeks. I am going to sit back and observe how all this plays out, adding more at a time. My investment strategy actually calms me down. Eyez on the price, stay on the course!
Dividend investing is actually great I went from making passively to pay for my netflix and hulu to now making enough to cover half of my mortgage. Not commenting this to brag, just to give hope to anyone who is discouraged by tiny gains in the beginning.
What route did you take? How can one invest more efficiently? Help!. Sounds like you got something going for you. I am new at investing and I really want in.
@@nicollete5447 I’ve been working with some one who changed my idea about the stock industry and how DGI works…. I invest with the guidance of Samantha Lee Ward, I came across her on an investment webinar, You can look her up. She works for a known trading company. Deriv
@@nicollete5447 You can dyor.
If I can add, having a financial plan was more important TO ME than having a bunch of money with no plan. When I retired, I planned on using my retirement and GI Bill to supplement my income until I graduated from college. I scheduled a full schedule of classes on 2 days to limit travel and paid all the bills on the first of the month and budgeted the rest of the month limiting discretionary expenses. This allowed me to go to school full time and not work for 2 years while providing for a family of 4 living in Southern California. Once the GI Bill was about to drop off, I found a job. I calculated everything down the the penny. If you can find a nearby military medical facility use them to avoid medical Co-pays, commissary to keep food costs down, etc. Keep up the good work informing vets. Semper Fi! GOD Bless!
Awesome story! Thanks for watching our video and sharing your story. Wishing you and your family the best.
You get any grants or use that yellow ribbon program
@@DerwinDaDestroyer No, I was able to get grants while at the local community colleges on Active Duty but once I transferred to SDSU I didn't qualify for any grants.
@@savageAMG dang
Lord, I wish we would have seen this before we retired. Great video. We feel so tucked.
Thank you so much!
Worked in the civilian sector as a government contractor for 19 years after doing 21 and retiring from the Marines. My experience has showed me that civilian employers don't care what your MOS was, how many ribbons you have or how many doors you kicked while in service, their main concern is: What specific skillset(s) and experience (relative to the position) you bring to their organization that qualifies you for that position? This is especially true if you are a contractor. Also, lower your bar as to your expectations working with civilians. Good luck.
Im 101 days out before I start Ptdy/terminal leave for retirement. I can’t wait especially with the covid-19 going on.
🤯
Congrats on your news journey!
@@brendacollins2789 thank you! I’m happily retired now and just received my 80 percent VA disability letter. I should be getting my first payment in a few days.
@@UttRConcrete did you get your payment? Also are you going to fight for full hundred percent?
Same is true for your one term enlistees be it 6 years or 4 years things are often worse for us since we don't get any retirement and some have expensive car payments, families etc. to deal with. SO many people don't realize how much the housing allowance and your base pay actually is. I honestly regret leaving after my first enlistment for the first few months afterwards till I could get my GI bill rolling and collected that extra housing money again. I found a good job eventually but I would say that whole first year was an incredible struggle.
I CERTAINLY know how you are feeling. I was young and dumb, I didn't want anyone telling me what to do. All praises to God my husband retired, I do share some of his benefit.
Great vid!!! Retirement is fast approaching.
Thank so much. congrats, on your new journey.
I shared your video. I'm getting close to 20 within the next month or so. I'm trying to set myself up. Thank you guys for this!
Thank you for watching, if you have any questions, please email us or drop it in the comment section.
What's another 10 years, serve 30 you'll be better set with the extra 25 percent.
I think the hardest part would be, going from being a somebody, to being a nobody.
That's not hard
You won't be going to a nobody. You will be going to a civilian. I felt the exact same way.
Very well said... this is valid for us all.... military or not. Very very good video!!!
Thank you so much!
It not that hard, all my military retired friends know how to survive and are doing well. My 1sg use to say that they got the locks on the trash cans you won't be able to get nothing to eat when you get out.
Beautiful couple❤️
Im thinking about doing 20years and then going into the trucking business, I just want to know if they will help me get a house once I retire? Aldo if I take the bonus will they take out out my retirement check?
The VA has the VA Loan for Vets to purchase a home. You usually do not have to pay the huge down payment with them. Please clarify the bonus?........ My understanding if you take a bonus without during 20 years. All your VA entitlements will be on hold. You may want to talk to a VA Rep.
Great stuff - I retired in 2015! Wish I would have seen this then!!! :)
I’ve never thought about retirement, I’m gonna win the mega millions one day
If under age 59.5, roll the TSP into a private 401k
We cover all these items during T-GPS course for Retiring service members. Good info though. I recommend retirees attend T-GPS twice prior to retirement.
Thanks for checking out my channel. This class isn't offered to the Air Force.
As per DoD policy, TGPS 5 day course is required for separating service members. Personnel retiring with 20 or more years of service can be exempt from the DOL portion. Personnel can do the online TGPS course through JKO, but I don't recommend it. I've been working with transitioning personnel for over 12 years. We also have a retired activities office at my Center that assist all retired military members as well as their dependence on various issues to include SBP , DFAS issues, Tricare and VA issues, and they are a great resource as well as tell Great Sea Stories for anyone that is interested. Keep up the good work and information via social media. I'll never complain about too much information.
I wish I would have documented my injuries before I left the military better. I don’t use tricare, I use the VA.
Thanks for the info. Could you clarify that only traditional TSP would pay tax. Fortunately, my TSP is ROTH. Also, could you mention that the best health insurance is to be healthy! Fast and control what we eat. Decrease valley intake and try to eat vegetables instead of meats and processed carbs. Most of all, stay away from sugar.
OK so both of yal served. I am just curious because I am on the fence on getting out. Personally I believe that sacrificing 20 years is a lot to ask, epically in today's day in age. glad to hear good things from your experience
Yes, we both served. This is my little "ole opinion", if you don't have about 8 months or more saved in your reserve account, nor a good paying job lined up, and have family(kids, etc.) that depend on you for income, I would probably try to hang in there! I realized the military has changed but what other job will offer you education, OJT, travels, the ability to be able to retire at 37 or 38 (when you still are fairly young)? I have a friend in your exact position right now! As I tell her, hang in there. The same problems/people/attitudes that you deal with in the military, are also sometimes the same problems you have to deal with on civilian jobs. Don't let no one dictate when it is time for you to exit the military. You take your own career in your hands. Take it from me, I have been on both sides. Take care, enjoyed your responses.
I agree with what they are saying but the first thing one should focus on BEFORE leaving the service (retired or separated)-- 1. BE AS CLOSE TO DEBT FREE AS POSSIBLE!, 2. own a home BEFORE RETIREMENT, 3.Formal education / certification is a must.
This is why I switch to the reserves
I'm 31 yrs old
With 8 yrs of Active Time/3 yrs of Reserves so far (SSGT Rank)
I am SGT in State Law Enforcement (Almost 4 yrs)
I'm predicting my Total Retirement from both STATE and FEDERAL should combine to roughly $3500 by the time I'm 50 yrs old.
Plus so far I have 5 houses that I bought dirt cheap with my deployment $$$ that is additional $3200 every month (By the time I'm 50 yrs old inflation from rent rates will make that higher)
Also my wife is military medically retired $ and assistant school principal $. So We live off her salary. You gotta plan this stuff out well bro.
@@brendacollins2789 good words of wisdom momma
Great video.
thanks for this video. I'm glad you mentioned the TSP because every little bit helps. You all really touched on the reality of separating and retiring from the military and how important it is to prepare. thanks again!!!
Hello, thank you so much for watching our videos, and taking the time to comment. If you have any questions, on TSP or any other military topics we would love to share if we can. Thanks again Shay
Good afternoon, I'm running into a little dilemma I have about 17 yrs left and I'm planning for retirement. I have a wife and two kids. I'm currently pursuing a career in Criminal Justice and looking at working for DLA. I'm praying about this but should I stick it out and go the extra mile which is the full 24 yrs (RCP E-7)
Hello, this is just my humble opinion. I would stick around since you have a family, also they are now making the Bridge Retirement Mandatory, and you have to consider what you will have to do for medical insurance for your babies and wife, if you get out. Insurance is very expensive for civilians at companies, however, DLA do offer Medical Insurance. But continue to pray to be lead by God, ask Him to give you guidance and direction on how to lead your family. He will do just that! Thank you so much for stopping by. I hope this helped in some way. Blessing to you and your family.
News One With Shay Thank you and I will continue to seek the Lord for guidance.
Awesome....
Shays chronicles thank you.
Thank for watch. You most welcome.
Wad the military retirement work the 20 year commitment? Giving those golden years away for 1500 a month.. Your thoughts?
I think it was well worth it. I honestly can say when we both moved up in rank, it was a whole lot more than $1500 a month. $1500 was possible one our housing allowance, not to include our pay checks. What civilians don't understand is that the military pays their members other monetary supplements, that civilian do not receive. Our house note, food, etc. If you don't mind me asking, what do you do for a living? Thanks for taking the time to stop by my channel and leave a comment.
I was talking about your individual retirement. not your active duty pay and allotments
I apologize, I misunderstood your question. Honestly, our individual retirement are a lot more than $1500 a month. Our retirement pay depend on our rank at the time of retirement. Even if both retirement/individual retirement were only $1500 a month, I can honestly say I think it was totally worth it, we both got to serve our country, a country that we both love, because of my husband and I, and other great members of the armed forces, you your family members, and millions of others are protected and free to enjoy your lives, he and both got to continue our education(free) so we could move on to higher paying jobs after retirement,(which we did), and lastly, we got to travel and see places/countries in the world, that most people only dream about. Yes, again, it was totally worth it! Thanks again for stopping by my channel.
I know this is a year later but I wouldn't say giving it away at all. In addition to serving your country, it's a job that pays well. Are you saying you don't work at all during those years? Minus deployments, we're all go home at night just like you. The hours could be long but so can the civilian side. Civilians always think military just go away for 20 years and not have a life when it's the opposite. It's given us so much. Wouldn't trade it for the world.
totally worth it. I am retiring next year in October after 21 years and according to the calculator my pay will be about $2400. It could be more but I am just a SFC. meaning that I will get that money every month for life. i am thankful the army gave me a steady job all these years and i could contributed to the SSA so at 65 i will apply for my SSA benefits. on top of that the army will compensate me for any medical issues that are service related, not really sure what i will claim though.
Is 60k enough to have in my savings account?
We think it is great. But you have to also consider, what state you are living. Each state cost of living varies. 60K would be the bomb in NC, but perhaps in NYC no so much. We always practiced having at least 6-8 months of Savings,(more is even better) just in case something unexpected happens.
I have a question if a person UN MISSION want to retire early from military do they pay for retirement paperwork or other paperwork to pay
TSP is something I hope you will also do a clip on.
Great video. great couple.
Can we get a part II, I am curious to hear about receiving medication via Tricare after retirement.
Hello Sandy, yes we can, we will work on that for you. We will get it out for you this Weekend. Thank you so much for stopping by our channel.
Excellent. Thanks for sharing.
Thanks, Sandy. You are very encouraging.
I didn’t read all the comments, but house payments. You lose your baq vha.
I was thinking about joining the air force as an officer in the medical field. Also considering the army as an officer by going to one of their graduate programs. I choose airforce because of treatment in some cases and the fact that they have better resources at times. Army because of some job opportunities and school. Any advice please.
Go Air Force.
Is this Mr.Ricky?
Also I just hit 11 years but I got hurt a few years back and I am about to face a medical board. What should I expect?
Expect a long process. Make sure you have plenty of patience. Have copies made of all your medical history, and make sure you are very clear when speaking with your doctors regarding your medical concerns.(DO NOT HOLD ANYTHING BACK) It is very important that you keep all of your appointments. Ensure that your contact information is accurate in the their system, just in case they need to reach you. If you are awaiting a VA Medical Board, they will contact you by mail when you are Dis/approved for medical benefits. I hope we answered your question.
Check out steve pitman here on RUclips! He’s going through the medical separation process now and at the end of it so he’s a wealth of knowledge.
Thank you for all the informations you shared. I've been in the Army 3 and half years, What do you think of the new retirement system (BRS) vs The old system (Legacy). Im thinking to opt in to the new system eventhough I want to stay for atleast 20 years in the service.
Thanks for stopping by the channel. What I really don't like is the the 40%. The only good thing about it if the soldier do not know how to their money, this will be a great supplement with the TSP, also if they do not touch it upon coming into Basic Training, and consistently allow it to grow, it could be great and the end of their retirement(but how many 18 yo would do that). But other way you still will have a retirement. Wishing you and your family the best....
If you are planning to retire and live only on a retirement check, you a fool..I'm sorry
It all depends on how big your retirement check is and your lifestyle.
Most military retirees use their retirement/disability/VA benefits as a financial core.
They get another job (they like) to increase their financial income.
I retired as an O5 after just over 30 years and can live off my "retirement check" and have money for savings every month.
God Bless You & Thanks👍🏾🇺🇸😃!!
If you do basic 4yrs do you still get to keep your healthcare benefits or you have to do 20yrs?
Hello, sorry, but you have to do 20 yrs, to maintain your medical benefits. Thanks for commenting.
News One With Shay Thank you ma'am!
20 years..."Honorable service. If you are booted out cancel Christmas. ;)
Eddie Leal haha what?!
To clarify....It was mentioned to you that you have to do 20 years to maintain medical benefits. If you retire at 20 you should have received an honorable discharge and therefore qualify for medical coverage. However, generally, in order to receive VA benefits and services, the Veteran’s character of discharge or service must be under "other than dishonorable conditions" (e.g., honorable, under honorable conditions, general). individuals receiving "undesirable", "bad conduct", and other types of dishonorable discharges may qualify for VA benefits depending on a determination made by VA.
"An individual with an “Other than Honorable” discharge that VA has determined to be disqualifying under application of title 38 C.F.R. §3.12 still retains eligibility for VA health care benefits for service incurred or service-aggravated disabilities unless he or she is subject to one of the statutory bars to benefits set forth in Title 38 United States Code §5303(a). Authority: Section 2 of Public Law 95-126 (Oct. 8, 1977). VA health care benefits: If an individual presents or makes an application for VA health care benefits and has an “other than honorable” discharge, eligibility staff must register the individual and place in a pending verification status unless Veteran has a separate and distinct “unconditional” qualifying military service episode with a qualifying Character of Service. A request for an administrative decision regarding the character of service for VA health care purposes must be made to the local VA Regional Office (VARO)". I hope this did not confuse you. If so feel free to ask questions/voice any concerns
Reference VA website: www.benefits.va.gov/benefits/character_of_discharge.asp
Great job you guys!!
Thank so much!
Is is it true that Navy and Marines retire after 30 years not 20.
Very beautiful couple!
Hi; thank you. Be blessed.