Military retirees?

[Nords]

BTW Great to "see" you Nords, have followed you for a lot of years.

Thanks, OAG, good to hear from you. I stop by here every week or so and search for the keywords "Nords" and "military."

I believe if this site, and Nords book had existed, we would have retired earlier.

I wish I'd read this site and my book [-]20[/-] [-]30[/-] 40 years ago!

Your story reminds me of one of the guys I flew with at my last assignment. He was an O-4 and applied for TERA twice and was denied. Well, he was a non-select for O-5 and was forced out. Lucky for him, he had over 15 years TOS and was able to retire anyway. He went on to get a cush job flying for FedEx and loves it. About a year ago, he got a letter from big blue asking him to come back.

Same here-- by my third TERA application the submarine force realized that it had cut too deeply. I was continued to 20 and even left to "rot in place" at a training command for 55 months.

Right after 9/11, about eight months before my June retirement, I was notified that if I applied for an extension past 20 years then BUPERS would certainly ask Congress for a waiver. (Note that I wasn't offered a waiver. I was told that I'd have to put in a bunch of paperwork and get multiple levels of approvals, and then my "request" would be "considered.") By that point it was clear that the personnel staffs were grasping at any possibility short of stop loss, and I had no faith in their ability to figure out the new rules.

They'd already had their chances in the 1990s, and I was ready to move on in my life.

 

[deserat]

I'll jump in the water...

Retired awaiting pay in Dec 2015 after 30 years combined active and Reserve for USAF (will receive in 2024). By then had racked up 5 AFSCs doing everything but flying and fixing planes (for military). Got to O-6 and my Reserve points retired pay will match close to what an O-3 gets with 20 years.

Awaiting retiree TRICARE at age 60 - have had either dependent TRICARE (courtesy of now ex-husband), paid for TRICARE Retired Reserve (very expensive as you pay the full amount - basically use of TRICARE in a COBRA status), and now have FEHB as took a GS position a year ago.

Have a fairly successful (has tapered off due to employment) self-employed consulting gig, do online teaching at graduate level engineering, and had a fairly successful career at large healthcare enterprise and have very small non-COLA pension from them right now.

Military has been main constant in my life: birth, moving around as dependent under military father, ROTC scholarship, 30 years active and Reserve, and now with GS. Most of my education and international experiences (the first ones) have been courtesy of the military. Most follow-on education and/or international experiences have been because of the initial experiences in military.

With regard to retirement, as some of you all know in the background, I have been running my numbers and the military pension, which was not the plan when I started the idea for FI/RE, will allow/can allow me to have a much nicer retirement lifestyle budget as it takes the pressure off of the portfolio performance expectations. Add to that the access to a relatively inexpensive health care insurance alternative, and the decision I made over that 30 years to not quit the military fully and go Reserve and stay Reserve (so a negative decision in a sense) will turn out to have been one of if not the most significant decisions in my life.

I am very thankful that my parents helped to set that expectation as well as my father demonstrating the willingness to serve. The payout has been much greater than what I have invested.

 

[Red Badger]

Thread Hijack

Okay, just so ya knows. If you are in receipt of military retired pay, you are also subject to the Uniform Code of Military Justice (UCMJ). So all you slackers, malingerers, and criminals better lawyer up ASAP!

 

[nash031]

Okay, just so ya knows. If you are in receipt of military retired pay, you are also subject to the Uniform Code of Military Justice (UCMJ). So all you slackers, malingerers, and criminals better lawyer up ASAP!

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.

 

[grayv]

and now have FEHB as took a GS position a year ago.

are you going to keep the FEHB into retirement? assuming you keep the GS job

 

[ExFlyBoy5]

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!

 

[braumeister]

Don't do anything exceedingly stupid and you should be good to go!

Sure, NOW he tells me!

 

[Fireup2020]

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!

 

[kgtest]

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.

 

[griffithee]

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!!!!

 

[slick8511]

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.

 

[kitesurfer2]

retired navy, retired civil service, social security, medicare, Tricare....

 

[Marty66]

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.

 

[Mook1e]

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.

 

[Fireup2020]

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!!

 

[World Traveler]

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.

 

[Marty66]

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.

 

[AginMS]

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.

 

[Tekward]

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).

 

[motley]

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...

 

[kgtest]

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.

 

[Fireup2020]

Retired Sailors seem to be the majority in this group!! Go Navy!!

 

[JDARNELL]

Retired Sailors seem to be the majority in this group!! Go Navy!!

Nah the other services are out getting chicks! Lol

 

[Bigdawg]

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.

 

[Gumby]

Nah the other services are out getting chicks! Lol

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