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Old 07-07-2021, 05:57 AM   #141
Confused about dryer sheets
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Haven't posted in ages. Retired 0-5 Navy at 43 after 21 yrs (NFO type) & moved to MCOL area. Been retired 15 yrs. Wife wanted to go back to work when I retired so we swapped & I stayed at home with the kids. (As an aside, we believe that having a parent at home was very important & worth the lost wages/investment gains. Not everyone can afford to do but we made it a priority.)

After 8 yrs took a part-time job doing bookkeeping/admin/HR for small company. Eased out of that a few months ago. Kids have graduated college and have good jobs out of state.

Wife worked civilian for a few yrs & then got a Fed job. She is eligible for MRA+10 and will leave in a few months. Her small FERS pension will be postponed until 62 to avoid the 5% per year reduction. Once the mortgage is paid off in a few months, my Navy pension will cover normal living expenses. Investments will fund charitable giving, travel, major home repairs/improvements, and nice to have things. It will be hard to go from savings to spending. I figure I'll take SS @62 & she'll wait until 70. I'd love to move but she likes it here.

Things have worked out much better than we could have imagined.
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Old 07-07-2021, 06:44 AM   #142
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Quote:
Originally Posted by Nick12 View Post
Had family friends retired from the Navy after serving 20 years. They currently live in the Philippines and their Navy pension and social security goes a long way there.
My first Navy assignment was in the Philippines. I was at a small communication station about an hour away from the hubbub of Subic. As you went through the barrios on the road to/from Subic, most of the houses were fairly basic Philippine “nipa huts”. But every so often there would be a quite nice, much larger home constructed of spackled concrete block. Supposedly, those homes belonged to either local politicians or Filipinos retired from the US Navy who had come back to the PI to live. Their pensions went a long way there.
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Old 07-07-2021, 07:22 AM   #143
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My first Navy assignment was in the Philippines. I was at a small communication station about an hour away from the hubbub of Subic. As you went through the barrios on the road to/from Subic, most of the houses were fairly basic Philippine “nipa huts”. But every so often there would be a quite nice, much larger home constructed of spackled concrete block. Supposedly, those homes belonged to either local politicians or Filipinos retired from the US Navy who had come back to the PI to live. Their pensions went a long way there.
Very true and domestic he!p in the PI is easy to find and cheap since a lot of the young locals are always looking for work. We clean our own home here in the USA but the maid service to clean homes in our country charge quite a bit to clean houses.
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Old 07-07-2021, 08:24 AM   #144
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Retired Army. Did 35 years total (14yrs Reserves / 21 yrs Active) retired off active duty in 2011 and went back to civilian Federal law enforcement job and retired from there in 2017.
Army pension, Federal pension, and VA disability (for things that happened in Afghanistan). We live pretty comfortably off the three pensions. We have not had to touch either TSP so far.
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Old 07-07-2021, 09:12 AM   #145
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It's interesting that this thread is still going. To address one of the questions of the OP, there are many retired U.S. warfighters on this site. This is probably evident now, given that as of this writing this thread is on page 8.

I officially retired as an Army O-5 with just over 20 years of service in February of 2020 (at age 62 I called in quits after receiving and serving a six-month extension). However, my last day of w*rk was in December of 2019 due to taking terminal leave time. My Army retired pay easily covers our living expenses, and my disability pay helps us cover any extras we want. DW and I often go out to eat, and we're planning a lot of travel soon with a cruise planned for the fall. I'm happy for these current sources of income, as I didn't plan for retirement financially as early or as well as I could have. Our retirement "egg" is decent but not anywhere close to the size of many in here. It doesn't matter - right now we don't have to touch it if we so choose, and we don't plan to begin SS until I'm 70. DW worked close to full-time while I was working on my advanced degree, but she became a homemaker by our decision shortly after the kids came and due to injuries and a long fight with brain cancer could never work for an employer again. That doesn't matter either - the retired and disability pay is more than sufficient. So - yes; military retirement is something worth considering. It isn't something I planned for - I entered military service to serve my country. But - now that it's here, I'm very content and thankful.
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Old 07-07-2021, 09:53 AM   #146
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Quote:
Originally Posted by friar1610 View Post
My first Navy assignment was in the Philippines. I was at a small communication station about an hour away from the hubbub of Subic. As you went through the barrios on the road to/from Subic, most of the houses were fairly basic Philippine “nipa huts”. But every so often there would be a quite nice, much larger home constructed of spackled concrete block. Supposedly, those homes belonged to either local politicians or Filipinos retired from the US Navy who had come back to the PI to live. Their pensions went a long way there.

The father of my daughter's childhood friend retired from the Navy as a 30 year E-9. He stayed in the US until all his kids were married and settled then him and his wife moved to the Philippines (she's Phillipino, he's American). They have been living like kings on just his pension for almost 20 years now.


Mike
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Old 07-08-2021, 10:12 AM   #147
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Originally Posted by Hardatit View Post
I'll revive this post. I'll be retiring 1 Jan 23, after 21 years 3 months in the AF. Deployed now but back in October and after leave, R&R, TAP, I won't be seen much till after 1st of the year 2023. I start the skillbridge program in July so I'm pretty much done in June of next year. I'm super excited about it, I was always told by the ole timers that I'd know when it was time, well I know for sure I'm ready to go, after 8 deployments and several more TDY's and 2 short tours, I'm ready to have some stability. I've been planning this heavily and building income sources on the side for about 10 years now. My goal was 10 sources of income I am now at 7 not counting my fiancés income. I can proudly say that I am and have been living off my side income for several years now. The mil pay has been invested and thrown at the mortgage the last few years. I found my dream home that came with a rental property back in 2019 and will have it paid off in a few months so I'll be 100% debt free with around 800K invested. I plan to continue to do my side business/s which are online sales, buying and selling ATV's or whatever I can find (this is what I love to do by the way) and the rental. I value freedom and flexibility and the ability to do what I want with my time and I can't wait to see what that feels like. I should pull in right at $32K a year after taxes from mil retirement not counting any disability (that's a wildcard for me), and of course Tricare is a big perk. Any advice from those that have gone before, any thing you wish you'd known a year out?
Kudos for asking this question now. I get way too many unhappy e-mails from vets who didn't know what they didn't know, and didn't think to ask about it until it was way too late.

You’re probably already choosing a TAP date. If your fiancé has the time then I’d strongly recommend that they attend with you. You’ll each hear the presentations differently, and you’ll have many thoughtful conversations based on what you’ve learned. Having both of you attend TAP together is far better than bringing home a stack of TAP paper and trying to share everything you’ve learned over dinner.

You’ve probably heard this before, but now is the time to clean up your records. If you’ve been hiding er, I mean, overlooking a potentially disqualifying medical or physical condition, then get it documented in your medical records now.

When you’re back from deployment, visit your local VA clinic or office’s Veteran Service Officer for an appointment to review your record. (They also do a limited review at TAP.) That’ll get you started on what additional documentation might be necessary. You'll be using the VA's Benefits Delivery Discharge during your military retirement physical. The VSO will ask you questions about things that you haven't thought of in years, and they can help you get the right documents in the right places in the right records.

Be aware that the retirement physical is only the military's official check for undiagnosed surprises before you leave active duty. (DoD doesn't want to dump these surprises on the VA.) If you have any additional questions about a physical condition or a medical symptom then ask it on the screening form, and make sure that the medical staff follows up with the additional referrals to specialists. It's not easy and it's certainly not fun, but it's far easier to handle this stuff on active duty than it is to do it with the VA (or Tricare) after you retire. My personal example involved an allergy screening test (skin scratches) and an exam of my nasal passages with a fiber-optic scope. Both were highly unpleasant (let alone the medical bureaucracy) but they definitely fell into the category of "things I wish I'd known a decade ago."

If you need specific items listed in your DD-214 (for example, documentation that you’re qualified to supervise the operation & maintenance of naval nuclear power systems) then talk with your personnel staff to see whether your service record (and your service’s personnel database) already has what it needs in it for the DD-214 software to populate that part of the form. The personnel staff don’t know what additional items you might need to fit into your DD-214, and the software might not automatically add it. I had to spend six months with the Navy’s BUPERS database wonks waiting for them to update an obscure database with my nuke history so that I had the right code added to the DD-214. Your personnel staff might not have the system access to add that info on their own.

I’d talk more about your Skillbridge plans with the Linkedin group “Veteran Mentor Network.” (https://www.linkedin.com/groups/4466143/) They’re the people who can tell you what they wish they’d known, and some of them run their corporation’s Skillbridge programs. You’ll also be able to review topics like buffing up your Linkedin profile:
https://www.linkedin.com/pulse/ultim...michael-quinn/
The Skillbridge program can be tremendously valuable if you view it as an extended career interview through informational networking. VMN will help you turbocharge that.

This is a ridiculously complex chart of the 12-month countdown to military retirement. I’m not suggesting that you need to follow it. Instead I’d read through it on the chance that there’s something in the checklist that you haven’t thought of yet.
https://www.linkedin.com/pulse/navig...k-windmueller/

I don’t know much about the VetsFirst program, but they have another example of an incredibly detailed separation guide at their site:
Military Separation Guide | VetsFirst
Again, it’s way more info than you probably need (let alone care about) but it’s worth reading through it to add items to your own list.

If you’re planning to travel then I’d recommend Stephanie Montague’s Poppin’ Smoke site:
Military Separation Guide | VetsFirst
She and her military-retiree spouse have been perpetual travelers for over five years now. When the military Space A program restarts (2022?) she’ll be among the first to spread the news.

Of course you can ask us more questions here, or send me a PM. You can search more keywords at The-Military-Guide, and my books are in the military base libraries and public libraries in all formats.
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Old 07-10-2021, 11:00 AM   #148
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Originally Posted by Nords View Post
Kudos for asking this question now. I get way too many unhappy e-mails from vets who didn't know what they didn't know, and didn't think to ask about it until it was way too late.

You’re probably already choosing a TAP date. If your fiancé has the time then I’d strongly recommend that they attend with you. You’ll each hear the presentations differently, and you’ll have many thoughtful conversations based on what you’ve learned. Having both of you attend TAP together is far better than bringing home a stack of TAP paper and trying to share everything you’ve learned over dinner.

You’ve probably heard this before, but now is the time to clean up your records. If you’ve been hiding er, I mean, overlooking a potentially disqualifying medical or physical condition, then get it documented in your medical records now.

When you’re back from deployment, visit your local VA clinic or office’s Veteran Service Officer for an appointment to review your record. (They also do a limited review at TAP.) That’ll get you started on what additional documentation might be necessary. You'll be using the VA's Benefits Delivery Discharge during your military retirement physical. The VSO will ask you questions about things that you haven't thought of in years, and they can help you get the right documents in the right places in the right records.

Be aware that the retirement physical is only the military's official check for undiagnosed surprises before you leave active duty. (DoD doesn't want to dump these surprises on the VA.) If you have any additional questions about a physical condition or a medical symptom then ask it on the screening form, and make sure that the medical staff follows up with the additional referrals to specialists. It's not easy and it's certainly not fun, but it's far easier to handle this stuff on active duty than it is to do it with the VA (or Tricare) after you retire. My personal example involved an allergy screening test (skin scratches) and an exam of my nasal passages with a fiber-optic scope. Both were highly unpleasant (let alone the medical bureaucracy) but they definitely fell into the category of "things I wish I'd known a decade ago."

If you need specific items listed in your DD-214 (for example, documentation that you’re qualified to supervise the operation & maintenance of naval nuclear power systems) then talk with your personnel staff to see whether your service record (and your service’s personnel database) already has what it needs in it for the DD-214 software to populate that part of the form. The personnel staff don’t know what additional items you might need to fit into your DD-214, and the software might not automatically add it. I had to spend six months with the Navy’s BUPERS database wonks waiting for them to update an obscure database with my nuke history so that I had the right code added to the DD-214. Your personnel staff might not have the system access to add that info on their own.

I’d talk more about your Skillbridge plans with the Linkedin group “Veteran Mentor Network.” (https://www.linkedin.com/groups/4466143/) They’re the people who can tell you what they wish they’d known, and some of them run their corporation’s Skillbridge programs. You’ll also be able to review topics like buffing up your Linkedin profile:
https://www.linkedin.com/pulse/ultim...michael-quinn/
The Skillbridge program can be tremendously valuable if you view it as an extended career interview through informational networking. VMN will help you turbocharge that.

This is a ridiculously complex chart of the 12-month countdown to military retirement. I’m not suggesting that you need to follow it. Instead I’d read through it on the chance that there’s something in the checklist that you haven’t thought of yet.
https://www.linkedin.com/pulse/navig...k-windmueller/

I don’t know much about the VetsFirst program, but they have another example of an incredibly detailed separation guide at their site:
Military Separation Guide | VetsFirst
Again, it’s way more info than you probably need (let alone care about) but it’s worth reading through it to add items to your own list.

If you’re planning to travel then I’d recommend Stephanie Montague’s Poppin’ Smoke site:
Military Separation Guide | VetsFirst
She and her military-retiree spouse have been perpetual travelers for over five years now. When the military Space A program restarts (2022?) she’ll be among the first to spread the news.

Of course you can ask us more questions here, or send me a PM. You can search more keywords at The-Military-Guide, and my books are in the military base libraries and public libraries in all formats.
Nords,

Thanks as always for your helpful posts and advice. I have read your book a few times. I reached out to you before through the military guide years ago and have held on to some of your responses for years to reference back on.

My TAPs scheduled for Nov when I get back and I do plan on having my fiance go with me. I'm watching YouTube videos and doing a ton of reading on the disability process. Going through my records this weekend and sorting by diagnosis. I will check out those groups that you mentioned. Thanks again.
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Old 07-11-2021, 11:58 AM   #149
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$923 SS check at age 62? seems very low. Maybe because you haven't had earned income since 42? I also ret E-6 (76-96)- Have not yet filed for SS which will be about $2200 by 65. I worked continuously up to age 63 (2020) after military life
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