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Military Retirement from USAA
09-08-2007, 12:57 PM
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#1
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,638
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Military Retirement from USAA
Most military folks have many considerations and many references regarding retirement. This is one more.
https://statmc.usaa.com/mcontent/sta..._08_2007_09-11
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Part-Owner of Texas
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In dire need of: faster horses, younger woman, older whiskey, more money.
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09-08-2007, 08:33 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Aug 2002
Posts: 1,322
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Don't know if it's been posted, but for military retired who chose SBP, the law was changed so it's paid up at age 70, if it's been paid for at least 30 years. So that's another 200+ a month, something to look forward to at 70.
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09-09-2007, 01:03 AM
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#3
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,853
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 Quote:
Originally Posted by mickeyd
Most military folks have many considerations and many references regarding retirement. This is one more.
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Thanks, Mickey, that's one of the best retirement-system summaries I've ever read.
Considering that the CSB/REDUX cohort is just starting to retire, I'm surprised (and gratified) to see USAA explain it so well.
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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09-09-2007, 06:54 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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09-09-2007, 09:46 PM
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#5
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,853
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Quote:
Originally Posted by packrat44
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Well, technically she's the one who had to agree to sign the papers and reject it!
Spouse agreed that she didn't want any SBP from me, either, and she expects to have a bigger pension than me. I don't see any reason to pay for SBP from her since she'll probably outlive me anyway.
What about life insurance? AFAIK we don't have any of that on me either...
__________________
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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09-09-2007, 11:30 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Quote:
Originally Posted by Nords
Well, technically she's the one who had to agree to sign the papers and reject it!
Spouse agreed that she didn't want any SBP from me, either, and she expects to have a bigger pension than me. I don't see any reason to pay for SBP from her since she'll probably outlive me anyway.
What about life insurance? AFAIK we don't have any of that on me either...
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She signed without a fuss. With our age difference it would result in a 15% reduction. At the time she signed, the spouse would only receive 35% at the time they turned 62. (That changed later.) Since we have long life on both sides of the family, we figured it would be low risk to invest what would have been paid for the premiums.
Do not have any life insurance either. No debt and kids through college and in productive jobs.
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Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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09-10-2007, 07:11 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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15% SBP taken in 1979 Premium free in 2010 (70th birthday). Took the "hassle free" amount (no spousal consent needed at that time for the minmium). Life Insurance: Just a very small policy that was taken from AAFMAA which became premium free in 1996; taken solely for the "dependents assistance" service provided for the spouse. Actually, I do expect the wife to draw the SBP and it will probably actually pay her monthly utilities for the house (maybe).
Mickyd: thanks for the link, USAA does a good job on just about everything they do.
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Vietnam Veteran, CW4 USA, Retired 1979
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03-13-2008, 06:26 PM
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#8
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Full time employment: Posting here.
Join Date: Jan 2007
Posts: 582
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This is a great booklet, thanks for posting it! I don't know how I missed it when you first put it up. DH will be getting to the 15-year point before too long and way in the back of my mind was that I'd need to figure out about the high 3 vs redux issue. Problem solved! Plus a good explanation of the SBP!
I'm definitely saving it for future reference...
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03-14-2008, 03:52 AM
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#9
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Recycles dryer sheets
Join Date: Mar 2007
Location: Tampa/St Petersburg, FLA
Posts: 314
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Quote:
Originally Posted by mickeyd
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Downloaded and printed. Thanks-
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