Veterans and Retirement
As you know from reading my blogs and postings, part of my practice is in Colorado Springs, where there are many military families.
What caught my eye was a recent MONEY magazine article titled: The Veteran’s Guide to Financial Success by Cybele Weisser (November, 2015)
The article offers good advice and several bios of military people (from 8 years to 28 years in the military) who faced the financial challenges of life outside the service. The general question posed was: were they prepared for retirement?
Helpful hints of the article included making use of your health care while you are still in the service, since “co-pays will almost certainly be higher…” ; checking with your veterans affairs benefits for eligibility (you should not assume that you do not qualify) and deciding if you want to join the reserves (which could offer you some Tri-Care insurance advantages.)
The article also mentions that the first civilian paycheck can be a shock and if you want to estimate how much you need as a civilian to match your military pay, there is a calculator for that – www.gijobs.com
I checked the website and there was also an interesting offering – 2015 Top 20 Hot Jobs for Veterans– a compilation of hot jobs from the 189 Military Friendly Employers. Worthwhile to check it out!
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