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 might not have to last … [Read more...] about Financial myths of retirement (part 2 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, but the good news is that you still … [Read more...] about Financial Myths of Retirement (part 1 of 2)
The military’s retirement system has a number of advantages for retirees, but if so few veterans seek early retirement then you may rightfully hesitate. What are you missing? One element is the approval of society. Test this yourself by telling a few shipmates, neighbors, or relatives that you’re considering early retirement. You're going to … [Read more...] about Myths Of Military Retirement And Early Retirement
If the military's pension and healthcare benefits solve an early retiree's biggest challenges, then why are military early retirees so hard to find? Have you ever noticed that the people in your command can help you with just about anything? No matter how obscure your question, there's always someone who knows the answers or can find somebody … [Read more...] about Where Are All the Retirees? How Do We Ask for Their Advice?
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 answer, but it's the only one that will … [Read more...] about When Should You Stop Working? – Determining the Best Time to Retire
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
“But... but... but what will I DO all day?!?” The two biggest challenges facing financially independent people may be inflation and affordable healthcare. However, the most frequently-asked question is what you're going to do with your new life. Ironically, the question answers itself once you retire. It may be the top question before early … [Read more...] about “But… but… but what will I DO all day?!?”
This post is sponsored by USAA, and I have been financially compensated to write it. Regardless, the opinions expressed are completely my own based on my observations. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.” In recent … [Read more...] about Blue Star Families: Finally A Nonprofit We Can Trust