Retirement Answer Man Service, Sacrifice, and Second Acts: Military Retirees
Aug 7, 2024
Scott Sanborn, a 30-year U.S. Army veteran and retirement planner, shares his insights on transitioning from military to civilian life. He discusses the unique benefits of military pensions and TRICARE, emphasizing their importance in retirement planning. Scott explores identity shifts after military service and how to reimagine your purpose in this new chapter. He also highlights the value of participating in transition programs like SkillBridge and offers guidance on managing healthcare and financial decisions during this significant life change.
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Pension As An Opportunity Enabler
- Military pensions act as an enabler, not just income to replace work.
- Underestimating that value can unnecessarily constrain post-service choices.
Assess Benefits Before Adding Buffers
- Do an honest feasibility assessment of your military benefits before applying pessimistic discounts.
- Then run resilience scenarios and add buffers only after knowing what's feasible.
Automatic Inflation Protection Matters
- Military pensions are inflation-adjusted, which preserves purchasing power over time.
- That automatic COLA makes the pension more valuable than many private plans.