Howdy everyone,
Nords' "Fog of Work" essay reminded me, in much better eloquence than I could express, why I am working so hard now to retire in 5 years, 8 months. I asked this same question about 4 years ago on this forum, but there are many new faces in the crowd now and wanted to see how the military retirement has worked out. Nords gave an excellent reply then. I have been applying his recomendations and think I am doing OK. I will have my house paid for in 18 months, have maxed out the TSP since its inception and have my IRA fully funded 1/2 roth, 1/2 conventional. Like everyone else have been hammered by the recent buying opportunity.
I just got my O-6 promotion in July, so I am in my final billet, no more moves, unless they change their minds. So to make a long post even longer, how have the military retirement benefits worked for you? Has the healthcare lived up to its promise? How about prescriptions? Has the COLA portion actually worked in real terms? Spousal benefit or not? Life insurance? I took the retirement seminar at the 10 year mark and am due to take it in the near future again. 5 years should go fast as I have been lurking here for 4 years and I still feel like a noob.
Thanks again for everyone's willingness to share their insights and visions. This forum is an excellent resource and often a motivator to keep up the fight when I really get weak and want to splurge and get a new motorcycle or start some other retirement derailing hobby.
Thanks again,
Sonny Jim
Nords' "Fog of Work" essay reminded me, in much better eloquence than I could express, why I am working so hard now to retire in 5 years, 8 months. I asked this same question about 4 years ago on this forum, but there are many new faces in the crowd now and wanted to see how the military retirement has worked out. Nords gave an excellent reply then. I have been applying his recomendations and think I am doing OK. I will have my house paid for in 18 months, have maxed out the TSP since its inception and have my IRA fully funded 1/2 roth, 1/2 conventional. Like everyone else have been hammered by the recent buying opportunity.
I just got my O-6 promotion in July, so I am in my final billet, no more moves, unless they change their minds. So to make a long post even longer, how have the military retirement benefits worked for you? Has the healthcare lived up to its promise? How about prescriptions? Has the COLA portion actually worked in real terms? Spousal benefit or not? Life insurance? I took the retirement seminar at the 10 year mark and am due to take it in the near future again. 5 years should go fast as I have been lurking here for 4 years and I still feel like a noob.
Thanks again for everyone's willingness to share their insights and visions. This forum is an excellent resource and often a motivator to keep up the fight when I really get weak and want to splurge and get a new motorcycle or start some other retirement derailing hobby.
Thanks again,
Sonny Jim