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If your SIL intends to stay in another 4x years, I highly recommend he apply to transfer the benefits as soon as possible so he can begin serving the associated service obligation. I transferred mine to my children in 2009 when the option became available and my oldest just started using it last...

Sheehs1, Your SIL can transfer the benefits as soon as he applies/is approved to transfer and, once he’s completed the associated 4x years service obligation, his spouse or kids (whoever he transferred the benefits to) can use their allocated portion of his GI Bill. To be eligible to receive...

A couple of things to consider with regard to the Post 9-11 GI Bill transferability option: 1) it is intended to serve as a retention tool—the service member will incur a 4x year service obligation that begins when the transfer of benefits is approved. He has likely already applied for the...

I’m a couple of YGs behind you but also intend to permanently exit the workforce after MIL retirement (though I intend to hang up my cleats prior to 30). To echo what others have said, knowing your expenses and keeping them at or below your pension payment is likely the key to success. You...

The DoD Office of the Actuary provides statistical reports on the military retirement system that, through 2018, included a present value estimate for non-disability retirement. Not sure why they discontinued it after 2018. Perhaps the new BRS introduced too many variables and complicated the...

Appreciate the comments/thoughts. Currently leaning towards option #1: continue to fully fund ROTH TSP/IRA until MIL retirement as a first priority, continue to save aggressively in taxable accounts for our retirement home as a second priority, and use a low interest mortgage to cover any gap...

All, Wanted to tap into the collective wisdom of the group to get some thoughts/advice on how I should prioritize my savings for the last several years of my military career (likely will retire w/in the next 4 years). I have two competing goals: 1) Continue to maximize ROTH TSP/IRAs while on...

Moneymaker, Overall it sounds like you all are in a great place financially with lots of good options. I’m a few years ahead of you timeline-wise but struggling with the same decision—what’s the right mix of retirement savings vs taxable savings in the last several years of one’s military...

All, Appreciate the feedback and discussion. After running the numbers and considering our family’s particular dynamics, believe we’ll be best served by taking SBP when I retire in a few years. Smalltownguy1, unlike the Montgomery GI Bill, the post 9-11 GI Bill has a provision for...

Nords/Braumeister, Honestly never considered forgoing SBP...time to do some research and math!

Thanks, JDARNELL—certainly looking forward to being part of the club in the next few years!

It’s been 10 years since my first post so I thought I’d provide an update. Although I don’t post often, I do lurk frequently and have continued to enjoy learning from the group and seeing folks move along the path to ER. The last 10 years have been eventful for us—PCSed (moved) five times...

I was confused with this initially as well and continued to contribute 1% to the traditional TSP for a few months until I finally got it figured out. I think the MyPay website is a little clearer now, but you effectively have to start Roth contributions (a particular dollar amount) and then hit...

Nords, I can verify that service members are able to contribute 100% of their annual limit to the Roth...no need to keep putting 1% into the traditional.

It looks like you all are doing well, and definitely appear to be on a good glide path to a comfortable early retirement. My only recommendations would be: 1) do not go too aggressive on your portfolio until you get to 20...you never know what might happen, especially during a significant...

+1 Also, guard against "lifestyle creep" as your pay increases over the course of your career. Live comfortably, rather than extravagantly, and you'll be surprised at how much money you'll be able to put back into retirement savings.

I'm curious which facilities are considered a MTF for the purposes of determining which retirees get to keep Tricare Prime...does one have to live within 40 miles of an inpatient MTF catchment area (TRICARE Management Activity - Geographic Reference Information) or simply live within 40 miles of...

I am flexible in my timeline so willing to take a little more risk. Appreciate all of the advice!

Well done! Keep it up!

One of my family's major financial goals is to save enough money in taxable accounts so that we can purchase a house with cash when I retire from the military (anywhere from 5-7 years depending on assignments). I currently have the majority of our "house fund" money in Vanguard's Wellesley...

Congrats!

Thanks all! In the interest of full disclosure, though, the total net worth that I provided above includes all of our accounts (retirement, taxable & 529s), and we do not own a home yet. Even so, we're pretty happy with our progress so far, and we're hoping (and saving) for more growth in the...

Wanted to anonymously celebrate a recent financial milestone with a bunch of like-minded folks here on the board...as of this morning, we are officially half-millionaires! It has taken us almost 10 years to reach this particular milestone, but we've been able to do it on a single income and...

Quite a deal, indeed! Of course, there's also the matter of getting shot at multiple times during repeated deployments to some pretty crappy parts of the world...but the sightseeing has definitely been good!

Since I've been in the military I've gone scuba diving on the Great Barrier Reef, crawled through the inside of the great pyramid of Giza, stared up at Michelangelo's painting on the ceiling of the Sistine Chapel, walked along the Great Wall of China, parachuted out of airplanes, rappelled out...