Tag: military
Military retirement spending: how much will I need?

Military retirement spending: how much will I need?

The short answer: your retirement savings portfolio needs to be about 25 times the size of your net annual retirement spending. If you want to spend $40,000/year in retirement and you don't have any pension or other income, then you're going to need a million bucks in the bank. If you have a military pension, ...

READ MORE +
Retirement finances:  what will I spend?

Retirement finances: what will I spend?

The last post talked about the first step in retirement planning-- tracking your expenses.  Until you track your expenses, you'll have no idea what you're spending now or what you'll spend in retirement.  Once you figure out what you'll be spending in retirement, then you'll be ready to determine how big an ...

READ MORE +
Retirement budgeting

Retirement budgeting

  The bad news is that retirement will involve a budget. The good news is that this budget is yours to refine, change, or even occasionally ignore. It can be as simple as the back of an envelope or as time-consuming as a multi-page spreadsheet. The whole point of your budget is to become comfortable with your ...

READ MORE +
Financial myths of retirement (part 2 of 2)

Financial myths of retirement (part 2 of 2)

Part one (the previous post) discussed some of the most common financial myths of early retirement, including "why early retirement doesn't work".  Here's the conclusion: "Your savings need to be absolutely safe." A huge investing epiphany for most military early retirees is realizing that their personal savings ...

READ MORE +
Financial myths of retirement (part 1 of 2)

Financial myths of retirement (part 1 of 2)

Listen to the early-retirement trailblazers: by far the most common comment of the new posters on Early-Retirement.org and other Internet retirement discussion boards is "I wish I'd started saving and planning sooner!" That's not much consolation if you're reading this during your 19th year of military service, ...

READ MORE +
When should you stop working?

When should you stop working?

  What's your future? After active duty will you retire from the military to a "bridge career", will you semi-retire to work part-time, or will you retire early and never earn a paycheck again? These questions are tough retirement issues. Like all tough questions, the answer is "It depends". It's not an easy ...

READ MORE +