I've heard stories and answered questions about financial independence for well over a decade. I realized pretty quickly that I'd never hear it all, but I have to admit that this reader comment on the REDUX post rocked me back on my heels a little. It's a very logical question, yet the consequences would set the servicemember back several … [Read more...] about Can Choosing REDUX Guarantee A Military Retirement?
Last month I had a 2400-word e-mail conversation about financial independence. A reader asked: "I'm on active duty and struggling with the idea of getting out at 27 years to start a bridge career. If I wait three more years to get my full 30, the longevity pay raise and my extra years of service mean that my pension would be 15% higher. If l get … [Read more...] about Stay For 30 Or Retire At 27?
A reader writes: Thanks for your article, it is very informative! I enlisted in the active duty USMC in 1977, completing 3 years of honorable service in 1980. In 1985, I entered active duty USAF as an officer and served 7.5 years - again I was honorably discharged in 1992. In 2001, I joined the USAF Reserves, again as an officer. Later I was … [Read more...] about Military Retirement With Reserve Enlisted And Officer Service
[Nords note: if you're reading this then I'm still in Spain visiting my daughter. My e-mail and social media responses will be a day or two behind...] A reader writes: "Hey Nords! First, I just want to say thank you for your service and all the great things you do for the military community. I served a couple enlistments and I went on … [Read more...] about TSP Tax-exempt Rollovers and Withdrawals
We've been enjoying life in Andalusia for the last six weeks. My spouse and I have been financially independent for nearly 15 years and now we're in our early 50s. When I retired from the military in 2002, our daughter was nine years old and we spent much of the next decade on parenting. We enjoyed the usual family activities and vacations … [Read more...] about Lifestyles In Retirement: 90 Days In Spain
[Nords note: As you'll learn from the details of this post, the author is an O-5 who's trying to stay anonymous. He's also written two other posts about his journey to financial independence. Your first thought may be "Sure, anyone could save for retirement with his paycheck!" But when you read his earlier posts, you'll see that he started out … [Read more...] about My Financial Independence: 2014 Review and 2015 Plans
A group of Army O-3s will finally be paid the pensions they've earned. However, their story is also a cautionary example of why you should be saving and investing for financial independence. Last month the Army announced that this blog helped a few officers keep their pensions. Well, sure, the press release doesn't specifically mention … [Read more...] about Army Officers Will Keep Their Officer Pensions
Many of my posts on financial independence come from reader questions. I answer roughly five e-mails or Facebook queries for every post that you see here. I'm not just recycling my keyboard wisdom into the blog, although that efficiency appeals to my frugal nature! I'm also showing you that many servicemembers, families, and even retirees are … [Read more...] about One More Year Syndrome
A new military retiree asked a very good question on a financial independence forum: I am going through a big life transition where I'm taking about a 60% cut in pay. Fortunately, it is a military pension and my monthly budget is lower than what I will get paid. I feel that I’m set for my transition and I can take my time finding a job. Things … [Read more...] about Eight Reasons Not To Worry About Military Retirement
[January 2015 update: this inequity has been resolved. The Army O-3s affected by the 2014 Officer Separation Board will remain eligible for officer pensions instead of reverting to an enlisted pension. This happened because people spoke up and drew attention to the problem. If you have a similar issue, let us know how we can help.] [December … [Read more...] about LEAKED: Statistics From The Army Officer Separation Board