Short post today, folks. It's a straightforward topic and you're probably busy getting ready for the holidays! Before we start, here's another reminder about getting on the road to financial independence: are you tracking your spending yet? If you've been doing that for a few months, then have you put together a budget? Next let's talk about … [Read more...] about Simple Ways to Start Saving for Retirement
Money Management & Personal Finance
The military teaches everyone how to live an extraordinarily frugal lifestyle. No matter what reputation your service has, at some point you've lived in a very small room with a narrow bed and little storage. Maybe you did without a room or even a bathroom for quite a while, let alone a bed, and all your possessions had to be carried on your back … [Read more...] about Frugal Living is Not Deprivation – How Living on Less Can Result in a Richer Life
Military compensation and the lifestyle One of Early-Retirement.org's more prolific posters, SamClem, has a very insightful comment on the military's care and feeding of its members: "The military has a highly paternalistic compensation and social structure. The medical needs of you and your family are tended to. Have another kid? We'll give … [Read more...] about The Easiest Path to Financial Independence – Start Saving Early
By now you've noticed a trend in the chapters from the "simplest" type of military early retirement (staying on active duty for at least 20 years) to the most difficult (separating as soon as your obligation ends). Financially, the best early retirement choice is staying on active duty until eligible to retire. But active duty is certainly not … [Read more...] about Retiring without a Military Pension – How to Create Your Own Retirement Plan
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 investment portfolio you'll need for that … [Read more...] about Retirement finances: what will I spend?
All retirees have to accumulate the resources to last for the rest of their lives, but early retirees (before age 65) have two daunting challenges: paying for healthcare and contending with decades of inflation. Health insurance is largely a workplace benefit, and many civilian workers feel “locked in” to their jobs by it. Health insurance can … [Read more...] about The Biggest Benefits of a Military Retirement