Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 06-04-2020, 01:46 PM   #81
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ExFlyBoy5's Avatar
 
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,449
Quote:
Originally Posted by nash031 View Post
As I understand it, this is not true for most. Only true if you are part of the inactive reserve. If you're on the regular retired list, you're not. Usually if you have more than 30 years from your start date, you're clear.

Since I retired 5 months ago after 20 years, and I was transferred to the Fleet Reserve List according to my DD-214, specifically subject to recall by SECNAV, I still technically am for 9 years and 7 more months, at which point I transfer to the Regular Retired List. Then I can pillage and plunder to my heart's content.
There are a lot of caveats to the law and the law is still in flux about it (to a point). Don't do anything exceedingly stupid and you should be good to go!
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
ExFlyBoy5 is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-04-2020, 02:01 PM   #82
Moderator
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 21,782
Quote:
Originally Posted by ExFlyBoy5 View Post
Don't do anything exceedingly stupid and you should be good to go!
Sure, NOW he tells me!
__________________
I thought growing old would take longer.
braumeister is offline   Reply With Quote
Old 06-05-2020, 05:48 AM   #83
Thinks s/he gets paid by the post
Fireup2020's Avatar
 
Join Date: Feb 2007
Posts: 1,250
Another retired Sailor here...medically retired at the 23 active year mark Feb 2019, but over 30 including reserve time. A bonus for medical retirees, our Tricare premiums are locked into the retirement year rates. Pension dollars based on O3E, but ID states LCDR (promoted out door as I was selected for promotion-I refer to it as my vanity promotion!!). On the bummer side, I had enough issues to garner 100% P&T from the VA, so there is some dealing with that. But, exempt from NJ property taxes never hurts! (And my fishing license is free!)

Had been on military leave of absence from my state job for nearly eight years. Returned to that position, was back long enough to “buy back” those recalled to active duty years into the state pension system, and then drop my retirement request. Halloween 2019 was my last W2 employee day!! (Age 49)

In the middle of all that, we purchased our forever home on a small lake in NW NJ, began renovating in Dec 2019, and are beginning to enjoy the fruits of our saving and planning labors.

As far as ‘w*rk,’seven years ago we purchased a business selling jerky at beer & wine festivals. While paying off mortgage, hubby was up to 42 shows per year. Now that we don’t have that issue, we have cut down to about 5-7 shows (well, zero so far in the Covid 19 era). Fortunately, this business is just funding our travel budget-so not end of world. We’ll focus on enjoying our awesome new lake home for a while!

Now if the world would just settle down to a dull roar!
__________________
Make no mistake, my friend, it takes more than money to make men rich. - A. P. Gouthey
Fireup2020 is offline   Reply With Quote
Old 06-05-2020, 08:20 AM   #84
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Location: North
Posts: 3,500
Quote:
Originally Posted by cbo111 View Post
I was extremely fortunate to retire from the AF in a flight test job, and get hired by a defense contractor to perform essentially the same job. I was even able to keep the same desk and work tele number. It paid a good bit more that the military gig, which enabled me to retire comfortably after about 10 years at age 58.
We ended up in Florida and have plenty of $ to cover our essentials, to include golf, tennis, and generally goofing off.
Was always my plan when I signed up, but the universe had a different plan. I always thought, man wouldn't that be cake if I could just take off the BDUs and put on a turtleneck for my transition.

I did get a second crack at DoD work which was great. Now civvy side until ER in 10.
__________________
AA (Stock/Bond/Cash ): 97.5/0/2.5% MIX (Small/Mid/Large): 25/25/50% BLEND(US/Foreign): 100/0%, REIT (Real Estate Equity): ~50% of Assets

FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
kgtest is offline   Reply With Quote
Old 06-05-2020, 10:52 AM   #85
Recycles dryer sheets
 
Join Date: Jul 2016
Location: Cypress
Posts: 172
Quote:
Originally Posted by HawkeyeNFO View Post
I went to Navy OCS in Pensacola in '97 when I was 24, then received a commission and went to flight school in '98. Never originally intended to be a career, but I ended up serving 20 years until retirement in '17. Could have lived off of the retirement pay and investments, but we decided to tear down our house and build a new one. So I took a Beltway Bandit job in '18 to cover the additional expenses, and I'm still working there now. Hoping to retire for good in the next year or 2.
Missed you in Pensacola by one year. I went through OCS in 98. Fun Fact: I was in the class ahead of Jocko Willink. He was the president of his OCS class 17-98 and I was the president of mine, OCS class 16-98. And yes, he is just as intense in person as he is on his podcast or in his books. The kid is "on" all the time!!!!
griffithee is offline   Reply With Quote
Old 06-05-2020, 11:12 AM   #86
Confused about dryer sheets
 
Join Date: Feb 2020
Posts: 6
Retired July 2005 @ 38 (approx 21yrs AD), MSgt USMC. Total earned income since is less than 25K, eight zeros posted to SS earnings statement so far. Debt free. Thank you all for your service.
slick8511 is offline   Reply With Quote
Old 06-06-2020, 04:22 AM   #87
gone traveling
 
Join Date: Nov 2014
Posts: 435
retired navy, retired civil service, social security, medicare, Tricare....
kitesurfer2 is offline   Reply With Quote
Old 06-06-2020, 06:24 AM   #88
Confused about dryer sheets
 
Join Date: Nov 2019
Posts: 3
I enjoyed this post. I am still in, Navy, just went over 35 years. I have been thinking about retirement for the past 5 years. I will not have to work after retirement, which is why I am posting. I get a lot of people telling me about job offers after I retire, which is prob in 2 years. I say to them, my plan is not to work ever again at a job, but to work at what I enjoy and travel. Thank all of you for posting. It helps for confidence that I can do it when the time comes.
Marty66 is offline   Reply With Quote
Old 10-17-2020, 08:00 AM   #89
Dryer sheet aficionado
 
Join Date: Oct 2020
Posts: 41
26 years retired in 2018. 15 1/2 Navy/10 1/2 Army.

I'm currently working as a Government Civilian. I don't necessarily HAVE to, but for peace of mind and until my youngest finishes school here in Germany, I'll keep working.

Still in Germany, but we really want to retire in Malaysia (or somewhere in Asia)

My pension and va disability covers our lifestyle, so my pay check is available to continue to prepare for full FIRE.
Mook1e is offline   Reply With Quote
Old 10-26-2020, 03:24 PM   #90
Thinks s/he gets paid by the post
Fireup2020's Avatar
 
Join Date: Feb 2007
Posts: 1,250
Retired from USN/USNR after 23 active, nearly 8 reserve. Was enlisted for 21 years, O afterwards...but medically retired from AD as a selected 04 (pension based on 03E over 30) plus 100% VA disability...went back to my civ job I had been ‘recalled’ from-survived there for 8 mos and retired from there as well. We have a business selling jerky at beer/wine festivals (5 shows per year)...no more W2 employment...ever!!
Wishing you the best!!
__________________
Make no mistake, my friend, it takes more than money to make men rich. - A. P. Gouthey
Fireup2020 is offline   Reply With Quote
Military retirees?
Old 10-26-2020, 10:04 PM   #91
Recycles dryer sheets
 
Join Date: Oct 2014
Posts: 145
Military retirees?

29 yrs AD and Res Navy E-5/AF 0-5. 12 yrs AD but wanted my pension at 60 in the reserves. 9/11 then activated,leave of absence from airline and finished up AD retirement in 14’ went back to airlines making the most money in my life but not happy. Looked at the numbers and decided to depart the fix. I’m one happy camper literally and figuratively. Tricare was a huge factor to retire at 52 in ‘16.
I did not have to work after mil ret but worked a couple years more to see if my QOL(schedule)would improve.
Where did you retire to?
Stayed in TX.
Saved,invested, Lbym since I was a Lt along with my DW nurse. We could have retired without going back to civ job.
Shoutout to
Nords still look forward to meeting you in HI.
World Traveler is offline   Reply With Quote
Old 10-27-2020, 06:17 AM   #92
Confused about dryer sheets
 
Join Date: Nov 2019
Posts: 3
In same boat. I will be up for O6 in Jan 2022 with 37 years. I don't care if I make it. I really don't want to. I am ready to retire.
Marty66 is offline   Reply With Quote
Old 10-28-2020, 07:08 PM   #93
Recycles dryer sheets
 
Join Date: Apr 2017
Posts: 56
23 yrs AD, retired O-5 from the Navy in 2014.

Started working in Oct ‘14 for the Navy as govt civil service. Originally planning ER in 2028 at age 58, now thinking about leaving at age 55 (two years before my MRA) and take a deferred FERS pension.

Currently living in south MS, but wife and I are planning to move to another state once we retire.

Could we have retired for good with just the military pension? I suppose. Many people retire on less. But our QOL wouldn’t have been where we wanted to be.
__________________
You are not fully diversified unless part of your portfolio is underperforming.
AginMS is offline   Reply With Quote
Old 10-31-2020, 07:31 AM   #94
Recycles dryer sheets
 
Join Date: Nov 2006
Posts: 397
Everyone has a different path. I did 8 years AD as a Navy Nuke, joined the NR, made LDO after 2 and stayed for another 28. Retiring with a CDR pension the next month.

My civilian career was typical Nuke (SRO) for 16 years, then jumped to Pharma and my last W-2 was teaching at the local university. I planned to stay forever, but the new Dean and I were not a fit so I used my FU option at 57.

I'm now in a comfortable semi-retired state, spending more time playing Pickleball than w*ork, but I still enjoy teaching, especially my no-cost classes for veterans (>550 trained since 2013). Life is good on my payback tour.

The bonus was kids seeing my service and all joining. All three will likely retire from the military (2 on AD & 1 in the reserves).
Tekward is offline   Reply With Quote
Old 11-01-2020, 08:46 PM   #95
Dryer sheet aficionado
 
Join Date: Nov 2020
Posts: 28
Retired some years back from the Reserves so obviously still working. It's hardly enough to cover me in retirement but it will help. Kick myself for not staying in active duty and getting that cush retirement right out of the gate But I hated being in frankly and saw these contractors I'm working side by side with making more than I was at the time and not putting up with half the BS and thought that was the way to go...
motley is offline   Reply With Quote
Old 11-01-2020, 09:36 PM   #96
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Location: North
Posts: 3,500
Quote:
Originally Posted by motley View Post
Retired some years back from the Reserves so obviously still working. It's hardly enough to cover me in retirement but it will help. Kick myself for not staying in active duty and getting that cush retirement right out of the gate But I hated being in frankly and saw these contractors I'm working side by side with making more than I was at the time and not putting up with half the BS and thought that was the way to go...
Similar in my shop. It seemed some of the contractors actually had more access and privilege's. Still enjoyed my service.
__________________
AA (Stock/Bond/Cash ): 97.5/0/2.5% MIX (Small/Mid/Large): 25/25/50% BLEND(US/Foreign): 100/0%, REIT (Real Estate Equity): ~50% of Assets

FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
kgtest is offline   Reply With Quote
Old 11-02-2020, 08:32 AM   #97
Thinks s/he gets paid by the post
Fireup2020's Avatar
 
Join Date: Feb 2007
Posts: 1,250
Retired Sailors seem to be the majority in this group!! Go Navy!!
__________________
Make no mistake, my friend, it takes more than money to make men rich. - A. P. Gouthey
Fireup2020 is offline   Reply With Quote
Old 11-02-2020, 11:10 AM   #98
Thinks s/he gets paid by the post
 
Join Date: Sep 2002
Posts: 1,058
Quote:
Originally Posted by Fireup2020 View Post
Retired Sailors seem to be the majority in this group!! Go Navy!!


Nah the other services are out getting chicks! Lol
JDARNELL is online now   Reply With Quote
Old 11-02-2020, 11:25 AM   #99
Thinks s/he gets paid by the post
 
Join Date: Oct 2014
Posts: 1,221
Quote:
Originally Posted by Fireup2020 View Post
Retired Sailors seem to be the majority in this group!! Go Navy!!
Haha. Someone had to give us a ride to combat. Thanks squidlies!

Semper Fi!

DW 21 years AD USMC. Me-23 AD USMC. DW is a gov civ now. Me a contractor. Covering all the bases.
__________________
-Big Dawg-FI since 9/2010. Failed ER in 2015. New target 202?.-

-"Blow that dough"-Robbie

" People say I'm lazy, dreaming my life away Well, they give me all kinds of advice designed to enlighten me When I tell them that I'm doing fine watching shadows on the wall "Don't you miss the big time, boy. You're no longer on the ball" -John Lennon-
Bigdawg is offline   Reply With Quote
Old 11-02-2020, 11:48 AM   #100
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 19,551
Quote:
Originally Posted by JDARNELL View Post
Nah the other services are out getting chicks! Lol
We sailors already got all the hot ones. You guys are welcome to the rest.
__________________
Living an analog life in the Digital Age.
Gumby is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Military retirees: USFHP vs Tricare? Gabieta Health and Early Retirement 9 03-20-2019 08:52 AM
Best state for military retirees HomesteadDreamer FIRE and Money 16 11-25-2018 07:30 PM
Useful links for military-related retirees Gumby Early Retirement FAQs 0 11-27-2010 03:45 PM
Military retirees in Ohio--Now No Taxes on Retirement Pay samclem FIRE and Money 33 11-12-2010 12:29 AM

» Quick Links

 
All times are GMT -6. The time now is 03:23 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.