Military retirees?

[FDC319]

This is my last month on active duty. November 30th will cap 28 years, 6 months, and 26 days.

I've been on terminal leave since August which is a pretty good gig by the way. Am currently selling all sorts of stuff just trying to declutter the massive amounts of junk I've acquired over the years.

 

[cnocmmz]

How many military retirees are on here?

Did you work after military retirement? If so, did you realy HAVE to work?

Where did you retire to?

Did your pension and any saving cover your lifestyle?

As you can probably tell from all of the responses, there are a lot of mil retirees on here
-For me, being enlisted back then, yes, we had to continue to w*rk! Did not have enough saved to retire at age 44. DW retired in 01 April 2020with her pension and SS at 66, I on the other hand still am working until June 2021 most likely until this COVID goes away. I will be one month shy of 61 years old and then we will have a very comfortable life. We really had to save plenty over the last 15 years to be able to do what we wanted in retirement. As everyone knows here, Medical is really not an issue.
Good luck!

 

[griffithee]

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.

I love the Devil Dogs!!!! Over two hundred years of guarding gates and they aint lost a gate yet!!!! Bravo Zulu!!!!

 

[Fireup2020]

We sailors already got all the hot ones. You guys are welcome to the rest.

[emoji106]️️

 

[cnocmmz]

The timeline is essentially the same in the AF. It is a conundrum that I have definitely considered and don't particularly have a good answer. Gotta love service commitments We have an option to opt out of promotion consideration but who really wants to do that...

I had the same delema in 1997. Hell, take the promotion. You will see in the end you will always be called the top dog . Pad your account/s with the extra cash and retire at the top of your game. Good luck!

 

[ivinsfan]

This is my last month on active duty. November 30th will cap 28 years, 6 months, and 26 days.

I've been on terminal leave since August which is a pretty good gig by the way. Am currently selling all sorts of stuff just trying to declutter the massive amounts of junk I've acquired over the years.

A good long run serving your country, enjoy your retirement and thank you for your service.

 

[cnocmmz]

Retired at 52 after 30 years. Returned to Washington State...pension covers everything.

That is amazing. Good for you and thanks for your service!

 

[cnocmmz]

My wife and I are both retired Navy. I did 20, she did 24. I retired at age 38 and started my current and only civilian job while I was on terminal leave. I will turn 60 in March.

Mike

Mike why haven't you walked away yet with two mil pensions?

 

[cnocmmz]

DW and I both retired from Army, me at 20 years and her at 21 years.

She was without a job for a year but didn't like being a stay-at-home mom, so she worked at the school for another 20 years and retired with a small pension from county.

I went back to work as a govt contractor for about 6 years and then went to work at Verizon for another 18 years. No pension from Verizon but the 401K allowed us to save enough to retire comfortably.

DW is on Medicare and Kaiser so she is good and I'm using Tricare Prime till I get medicare eligible.

Our Army checks have paid house payment plus a bit of travel each year and our other expenses are paid from 401K/IRA savings.

 

[wrigley]

Mike why haven't you walked away yet with two mil pensions?

Wife retired from the Naval reserves. She doesn't start drawing her pension until she turns 60. About another year and a half. At the same she starts drawing her military pension she will also have 30 years with the Federal Government. I have been working for the same company since I went on terminal leave back in May of 1998. The company, at the time, was privately owned but then became an ESOP in 2006 when the owners sold to the employees. The stock has been going through the roof over the last 14 years. My stock value has outpaced my 401k. It's a situation that would never happen to you.......it would happen to other guy. I was in the right place at the right time. Our current plan is for my wife to work until she's 62 which means I will work until I'm 64. We expect to have our house paid for by the end of this year. Life is good!

 

[Bigdawg]

I love the Devil Dogs!!!! Over two hundred years of guarding gates and they aint lost a gate yet!!!! Bravo Zulu!!!!

Thanks griffithee. 245 years old tomorrow. Formed in a bar. You'll still find many of us there.

I have served with some incredible folks in all the branches. Even the Coasties.

 

[bmcgonig]

Hopefully this is ok with the censors. But it's so true!

 

[FDC319]

Relevant to this thread: https://www.defense.gov/Newsroom/Re...unces-cost-of-living-increase-to-retired-pay/




1.3% for those retired before 2020.

 

[Offgrid Organic Farmer]

Relevant to this thread: https://www.defense.gov/Newsroom/Re...unces-cost-of-living-increase-to-retired-pay/




1.3% for those retired before 2020.

Sweet my current pension of $1580/month times 0.013 is a pay raise of $20.54, so I will be paid $1600.54/month.

Now I can afford to buy my own skate key.

 

[Nords]

Sweet my current pension of $1580/month times 0.013 is a pay raise of $20.54, so I will be paid $1600.54/month.

For those who are wondering why their military pension deposit is in whole dollars, it's the Financial Management Regulation (DoD 7000.14-R) rule on rounding down to the nearest dollar.

See section 030209 "Rounding Retired Pay" of Volume 7B Chapter 3:
https://comptroller.defense.gov/Portals/45/documents/fmr/current/07b/07b_03.pdf

I've been retired since 2002, and the last 18 years of COLAs have included three years of zero COLAs. Despite those zero COLAs, my pension has still risen a total of 40% over that time. It's also grown faster than our spending.

Historical COLAs are listed starting on page 8-23 of Chapter 8:
https://comptroller.defense.gov/Portals/45/documents/fmr/current/07b/07b_08.pdf

I'd much rather have a small COLA (even a zero COLA) during years of low inflation instead of a higher COLA during years of higher inflation.
https://the-military-guide.com/how-much-is-cola-on-military-pension/

 

[Doingitwrong]

DW is retired from the Canadian Air Force and on 100% disability. I quit the US Air Force after the Gulf War (1991) and finished college.
I worked because I was young and healthy. And for the money.
Spent 20+ years trapped in our 1200 square foot city home, managing medical bills, and dealing with the VA.
In 2017, we sold that first home and retired (I still work part time) to a 2400 square foot hilltop house in the Texas hill country.

 

[cnocmmz]

Wife retired from the Naval reserves. She doesn't start drawing her pension until she turns 60. About another year and a half. At the same she starts drawing her military pension she will also have 30 years with the Federal Government. I have been working for the same company since I went on terminal leave back in May of 1998. The company, at the time, was privately owned but then became an ESOP in 2006 when the owners sold to the employees. The stock has been going through the roof over the last 14 years. My stock value has outpaced my 401k. It's a situation that would never happen to you.......it would happen to other guy. I was in the right place at the right time. Our current plan is for my wife to work until she's 62 which means I will work until I'm 64. We expect to have our house paid for by the end of this year. Life is good!

[emoji106]

 

[Brat]

WinCo Foods?

Is your wife CSRS or FERS?

 

[MatatuPuncher]

My hat is off to you folks who were able to make a career of the military. I enlisted right out of high school and got out as soon as my three years was up. I was in the infantry and surrounded by a bunch of degenerate criminals and didn't fit in well.

 

[FDC319]

So I joined the Blue ID card club on 1 December. 100ish days on terminal leave was nice. Getting my first haircut since August tomorrow and haven't shaved since August 20. The hair is driving me nuts-keeping the beard though.

Received ridiculously good news from the VA on the 3rd with regards to a rating-and I haven't even completed all my exams. Although the exams I completed captured most of the things a 28+ year artilleryman with some deployments and most of a career on jump status would have, so I guess it isn't a huge surprise.

Spoke to the TSP yesterday via email. They are still waiting for the Army to tell them I'm done. They said it could take up to 60 days for that to happen. Slightly annoyed as I want to roll it into Fidelity, but oh well.

Went through the Tricare enrollment-apparently the USFHP with Martins Point is essentially Tricare Prime with a different name. I've already changed PCMs with them twice lol. The first one turns out wasn't accepting new patients, so I called a different one. Then I went and looked at bios and one of the other Docs was retired Army, airborne qualified, and had done a deployment with an airborne BCT that I also did a couple deployment with. He did the Iraq tour where they had 50+ KIA in the BCT and I did the two following Afghanistan tours. He'll either be a good doc or it will be one of those-take some motrin, change your socks, and drink water deals. At least we may have something to talk about.

Now I just need to find some land to buy. Sort of waiting until after 1 Jan so I don't have to take a capital gains hit this year when I move money for the purchase.

10 days into it, life is good so far. Not seeing any need to seek any future employment.

 

[ExFlyBoy5]

So I joined the Blue ID card club on 1 December. 100ish days on terminal leave was nice. Getting my first haircut since August tomorrow and haven't shaved since August 20. The hair is driving me nuts-keeping the beard though.

Received ridiculously good news from the VA on the 3rd with regards to a rating-and I haven't even completed all my exams. Although the exams I completed captured most of the things a 28+ year artilleryman with some deployments and most of a career on jump status would have, so I guess it isn't a huge surprise.

Spoke to the TSP yesterday via email. They are still waiting for the Army to tell them I'm done. They said it could take up to 60 days for that to happen. Slightly annoyed as I want to roll it into Fidelity, but oh well.

Went through the Tricare enrollment-apparently the USFHP with Martins Point is essentially Tricare Prime with a different name. I've already changed PCMs with them twice lol. The first one turns out wasn't accepting new patients, so I called a different one. Then I went and looked at bios and one of the other Docs was retired Army, airborne qualified, and had done a deployment with an airborne BCT that I also did a couple deployment with. He did the Iraq tour where they had 50+ KIA in the BCT and I did the two following Afghanistan tours. He'll either be a good doc or it will be one of those-take some motrin, change your socks, and drink water deals. At least we may have something to talk about.

Now I just need to find some land to buy. Sort of waiting until after 1 Jan so I don't have to take a capital gains hit this year when I move money for the purchase.

10 days into it, life is good so far. Not seeing any need to seek any future employment.

Congrats and welcome to the club! It is one of the most exclusive clubs out there and only blood, sweat, and tears (and the required time) is the ONLY way to get in...even if you had all the $$$ in the world, you can't buy that membership. And the privileges!? Worth more than what you can get with the Amex Black Card!

Any reason you want to move the TSP over to FIDO? I considered moving mine, but figured that it was more of a pain to get it moved, so I let it be.

 

[braumeister]

So I joined the Blue ID card club on 1 December. ...
10 days into it, life is good so far. Not seeing any need to seek any future employment.

Congratulations and welcome!
When I got mine, the photographer said issuing retired ID cards was one of his favorite things to do, because everyone had a smile a mile wide.

 

[ExFlyBoy5]

Congratulations and welcome!
When I got mine, the photographer said issuing retired ID cards was one of his favorite things to do, because everyone had a smile a mile wide.

Too funny...you made me look at mine...and yep...HUGE smile. I am NOT one to smile for pictures, either.

 

[Offgrid Organic Farmer]

So I joined the Blue ID card club on 1 December.

Congratulations. I got my Blue ID in March of 2001.

... Went through the Tricare enrollment-apparently the USFHP with Martins Point is essentially Tricare Prime with a different name.

We use Martin's Point. It does seem to be Tricare with a different name.

... 10 days into it, life is good so far. Not seeing any need to seek any future employment.

19 years into it here. I have not seen any 'need' for employment. With this pandemic going on, and so many being forced out-of-work, so many businesses forced to go under. I am thankful that I have a pension and I am not 'out-of-work'.

 

[FDC319]

Any reason you want to move the TSP over to FIDO? I considered moving mine, but figured that it was more of a pain to get it moved, so I let it be.

Thanks!

I don't like the complexity of the TSP and would prefer what Fido or Vanguard can provide. Yes, it looks like a royal pain to do.

Besides-my TSP is in 3 pots of money. Pre tax, pre tax but tax free, and post tax. Time to turn that into normal money.