Tag: pension
Comparing E7 Retirement Pay: Active-Duty Versus Reserve

Comparing E7 Retirement Pay: Active-Duty Versus Reserve

This post has been updated using current pay charts, to determine E7 Retirement Pay... E7 Retirement Pay Consider two 18-year-olds who join the military on the same day. The first stays on active duty for 20 full years to retire as an E-7. They'll base their pension on 2.5% x 20 years = 50% of their High-Three ...

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Marine Corps offers early retirement

Marine Corps offers early retirement

    Let me interrupt Memorial Day with some late-breaking news: Stars and Stripes reported last week that the Marine Corps will be offering a 15-year retirement. The program is expected to begin this fall for Marines and officers, but the actual program details and start date haven't been released yet. ...

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Congress changes military careers and retirements

Congress changes military careers and retirements

The last post summarizes the latest gloomy news about drawdowns and possible changes to the military retirement system. It's full of links covering each of the service's proposals to cut both active duty members and civil servants. It's a daunting task. The question isn't "what" will be cut, but rather "how much". ...

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Pension pitfalls

Pension pitfalls

A friend's active-duty retirement reminded us of the potential surprises & pitfalls of the first pension payment. The first surprise you may encounter is the date of your pension deposit. When you're on active duty you're getting paid on the 1st and the 15th -- although the exact date that the money's in your ...

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USAA:  seven money rules to break

USAA: seven money rules to break

A few weeks ago USAA article posted an article on when to break the "money rules". Here's the summary, with my comments in italics: 1. Pay off debt and build an emergency fund before saving for retirement ... ... except when your debt is of the low-rate, tax-reducing variety, such as a mortgage or student loans, and ...

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