A reader writes: My husband was commissioned after ROTC in August 1966, placed on an educational deferment, and did not start active duty until February 1968. How many retirement points did he earn over that period and where is a regulation that addresses this? After some more questions, I learned: The time from commission to active duty had no … [Read more...] about Divorce And A Military Reserve Pension
A reader writes: "If my ex husband was active duty for 10 years and 20 years Reserve and he has 5300 retirement points at the rank of O-6, how much will he receive? I will receive 50%." After exchanging more e-mail, we learned that her ex-spouse is under the Final Pay retirement system (for those starting their military service before 8 September … [Read more...] about Military Retirement and Divorce – How Does a Divorce Impact Military Retirement Pay?
Very long post today (3000 words) but you have the time to read it-- and it's worth reading. Especially if you're interested in genetic testing. Here's my 23andMe Genetic Testing Reviews. A genetics researcher and director of the National Institutes of Health once said: "Genetics loads the gun and environment pulls the trigger." I think a more … [Read more...] about I Tried 23andMe Genetic Testing & Here’s My Review
[Long post today: nearly 3000 words. Take the weekend to read it, and spend some time digging into the links. This analysis may not save your life, but it can certainly save your finances.] A few weeks ago I received an e-mail from a representative of the nonprofit organization LIFE: "As more and more Baby Boomers enter their retirement years, … [Read more...] about Interview: What’s Wrong With Long-term Care Insurance?
Along with FINCON12 I've visited my Dad and worked on his finances. I'll talk about how he's doing now and then I'll review the latest financial lessons. Alzheimer's is relentless. Dad's mid-stage symptoms are worse and his brain is losing control of his emotions. He has trouble remembering faces and aphasia is setting in. For the last 18 … [Read more...] about Geriatric Financial Management Update
Today's post revisits the subject of caring for the financial independence of your loved ones. There's nothing here about military retirement, but I'm very glad that our aggressive savings and low-cost lifestyle have enabled us to retire from military service without a bridge career. As all too many of us Baby Boomers are finding out, eldercare can … [Read more...] about Forensic Geriatric Finances
USAA has offered their "savings goals" calculator since January, but they've recently expanded it for students & parents. They've released a very detailed education savings planning tool that greatly simplifies the data crunching and the fund selection. The Education Savings Planner is part of their Goals Planning Tool at … [Read more...] about USAA’s savings goals and 529 plan calculators
Thanks to Brandi for her comments on an earlier post, and her question: My favorite part of the book was all of the personal stories. I can understand how the math works – I’ve calculated all of my future pay raises, estimated rate of savings, and projected retirement benefits to figure out how much I should have saved and how much … [Read more...] about 529 college savings for military families
Source: goodfinancialcents.com via Jeff on Pinterest Earlier this month, noted CFP & military veteran Jeff Rose was running a financial seminar with a roomful of college students. These seniors are graduating in a couple of months to (hopefully) earn the big bucks for their retirement accounts. He wanted to suggest ways to start on … [Read more...] about Starting your kid’s Roth IRA
[Note: Dad passed away on 18 November 2017 from end-stage Alzheimer’s. This post is about my experiences with his care.] I'm finally my Dad's conservator. For first-time readers, let's back up a bit on why this was necessary. Dad's Alzheimer's has progressed to mid-stage and we didn't have power of attorney. He lived … [Read more...] about Geriatric financial lessons learned