Smart Military Money
Personal finance tips andadvice for the military lifestyle.
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Talking about retirement rattles some people, but it’s the focus of this week’s military personal finance roundup. We’re not talking exclusively about retiring from the military, but retiring for good. Leaving the workforce may be decades away for you, which is why it’s smart to think about retirement now. Don’t wait too long to start [...]
Investing, as with anything in life, benefits from an early start. The earlier you begin planning for retirement, the greater your potential return on investment. This holds true for both civilians and military members. By taking advantage of your youth, you can get a head start on saving for your future. However, if you’re not [...]
The Thrift Savings Plan (TSP) affords military members an investment package that is convenient and, under certain conditions, tax-exempt, too. But unfortunately, veterans and civil service employees are not allowed to contribute once their military employment ends; TSP eligibility is only available for active military members. And while veterans can leave their assets in a [...]
As of now, Military members with at least 20 years of service qualify for a 50-percent pension plan upon retiring, but for many service members, this alone will not guarantee a comfortable lifestyle. It is important for military members to explore alternate retirement strategies in conjunction with military-based plans. Establishing an individual retirement account (IRA) [...]
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