Mission: Milspouse’s Post

Embrace challenges that push your limits, like The Deliberate Discomfort Challenge, to rediscover your strength and purpose in retirement. #DeliberateDiscomfortChallenge #RetirementReinvention #MissionSixZero #VeteranGrowth #PurposeAfterService #SelfImprovementJourney #MilitaryToCivilian #EmbraceTheChallenge https://lnkd.in/gpbX75Pp

A Navy #veteran reached out to me this week. She is currently a teacher, but she is considering a career change to the U.S. civil service so she can use her military service to boost her pension. This is a great idea! Military veterans can buy back their military service on a one-for-one basis. She has 11 years of active duty Navy service. Buying back those 11 years gets her halfway to her retirement. The best part? You only need five years in the civil service to qualify for a deferred pension. Buying back those 11 years and serving five years gives her 16 years toward retirement. There are other benefits: Buying back your military service backdates your service computation date, your leave date, and your Reduction in Force date. Your service computation date impacts your life insurance benefits and when you vest with the Thrift Savings Plan. It takes three years to vest your agency-matching TSP contributions, so if you buy back more than three years, your TSP matching contributions immediately vest. Buying back your service credits also helps you accrue leave more quickly. This gives you more paid time off—always a good thing! Finally, it backdates your Reduction in Force date, meaning you have more seniority in the event of layoffs. You can buy back all of your military service as long as you are not receiving an active duty military retirement. (Active duty retirees may still get service credits that impact their service computation date and other dates; however, they cannot double-dip and use the same service period for both an active duty military retirement and civil service retirement.) But you CAN double-dip and use the same military service toward a Guard/Reserve retirement AND a civil service retirement. This is a great way to earn two pensions using some of the same service periods. I recommend reading this article and listening to the podcast for a more in-depth overview of buying military service credits. It's a valuable opportunity! https://lnkd.in/eWtpH2KZ #veterans

Embracing a new mission in retirement, I transformed a period of aimlessness into a journey of self-discovery and purpose, culminating in the creation of my first novel. #MilitaryRetirement, #VeteranWellness, #LifeAfterService, #OvercomingChallenges, #AuthorsJourney, #BucketListGoals, #SupportOurVeterans, #InspirationalVeterans https://lnkd.in/gu-GPnPH

When military retirement comes, we often hear that it’s the military spouses' turn to dive into their careers and that the sky’s the limit. However, transitioning into a career isn’t that simple. Some spouses have never had a career, or they left their careers decades ago, making it difficult to know where to begin. Many find themselves struggling to figure out what they want to do or how to re-enter the workforce. Additionally, earning potential might not be the same, and starting over can be daunting. As a military spouse of twenty-one years whose husband retired 18 months ago, I still struggle to find a stable career. Despite having had work opportunities over the years, maintaining a career while constantly moving, raising a family, and supporting my husband’s military career was incredibly challenging. I had paying jobs but I spent more time volunteering when I couldn't get a job than actually getting paid to work. My career path has never been straightforward, and retirement has added another curve, making it even more challenging to navigate and find stability in my professional life. Nikki Harrison: I support a movement to support military spouses’ careers after military retirement and make that transition easier. Jennifer Barnhill, MPA, great article. #militaryspouses #retirement #career

More #FunOnFriday. Today, we'll test your knowledge of calculating your retirement pay and other compensation. Can you go 5 for 5? All questions are True or False. Answers at the bottom. 1. Prior to 8 SEP 1980, active duty military members' retired pay was calculated based on their final month of base pay. 2. The formula for calculating the years of service for retirement pay of Reserve Component members who qualify for a nonregular retirement is Total Creditable Retirement Points divided by 360. 3. Members who retired under the Career Status Bonus/REDUX military retirement plan receive 1% less in their annual COLA than other military retirees. After a one-time "catch up" at age 62, the 1% annual COLA reduction continues for the rest of their lives. 4. The minimum VA disability rating required to qualify for Concurrent Retirement and Disability Pay is 50%. 5. When the Social Security Administration calculates your Social Security retirement benefit, they base it on an average of your 35 highest years of annual earnings. BONUS QUESTION: Since 8 SEP 1980, the formula for calculating ALL military members' retired pay has been 2.5% times their years of creditable service times the average of their highest 36 months of base pay. ANSWERS BELOW 👇 👇 👇 👇 👇 Did you have fun? If yes, put a smiley face or comment in the comments section. Answers: Except for the BONUS question, ALL are TRUE. The BONUS question was a trick to see if you were thinking. It's FALSE. Under the Blended Retirement System, the formula replaces 2.5% with 2.0%, so it's important that members contribute to their Thrift Savings Plans while serving. #soldierforlife #retirementplanning #military #funonfriday

As you get ready to leave active duty, your personal identity is about to change. What might surprise you is how easy it is for others to tell if you have adapted to this yet or not. And how important finding your new identity is for your continued success. #militarytransition #militaryretirement #personalgrowth

Last week, I posted about my retirement from the U.S. Navy and the Retirement Ceremony I held three-and-a-half years later. The point of that post was that ceremony is used to great effect in the military, is important, and is something that civilian organizations would be wise to employ. I've been surprised and humbled by the response that post received, but there's more. At military Retirements, the retiree is given the opportunity to speak. Remarks typically include remembrances of important events, thanks to various people, and wisdom that the retiree wants to share—his or her ‘lessons learned’ from a long career. I am a firm believer in wisdom. I do NOT believe wisdom is some mythical concept or something that only the very old or very experienced possess. I believe you can find wisdom anywhere—even where you least expect it. You can find numerous definitions of the word, most of which are good, but my favorite is probably from Wikipedia: “Wisdom is the act of using one's depth and breadth of knowledge and experience to do good by oneself and others. Wisdom is the interpreting and understanding of knowledge that leads to greater insight.” [Don’t criticize me for appreciating Wikipedia – it does have its uses when employed judiciously.] Here is the ‘wisdom’ that I shared at my Retirement Ceremony. My full remarks, if you are interested, are attached. - - "Suggestion #1: Connect. Connect with the people around you. Get to know them. Really know them. Listen before you talk. Ask them questions. Find common ground—there is always common ground somewhere. Sometimes you have to look harder, but you will find it. I’ve never met and spent any significant amount of time with a single person who wasn’t in some way interesting and who wasn’t able to teach me something. You will have better relationships and enjoy your life more. Suggestion #2: Learn. Everyone around you has knowledge, insight, and understanding that you do not. Even people who are less than you – less trained, less intelligent, less capable. Even people who you dislike, even potentially despise. Everyone is a source for your greater understanding. Seek out that wisdom. Find it wherever it may be—even in the places you don’t expect it. Heck, especially in the places you don’t expect it. Live by that wisdom, wherever you found it. You will be a better person for it. Finally, Suggestion #3: Teach. Every one of you has knowledge, insight, understanding that others do not. You have had experiences that others have not. Share that wisdom with the people around you. Share it freely. Spread it far and wide. Don’t ever knowingly withhold it. Be willing to teach the people around you, through your words, actions, behavior – sometimes especially your behavior. People are watching, and they will learn." - - I’m curious what wisdom you offered at your Retirement Ceremony or what wisdom you may have heard at others’ Retirements. Please share in the comments. #Veterans, #Wisdom

💥You’re about to make the most money you’ve ever made.💥 Military retirees that decide to have an encore career can find themselves in a position making more than they ever have, and often it’s A LOT more. This usually puts you into the territory of leveling up your standard of living. While you intend to save a chunk for your “retirement retirement”, don’t forget to put a long-term plan in place that will sustain your newly found enhanced standard of living. Having a long-term plan is a key component in carrying the life you’ve built into your golden years.

Is the TSP really the best place for your retirement savings after you've left the military? 🤷♂️ I've talked to a lot of veterans who decided to take the advice given to them during their DOD-sponsored transition seminar and leave their retirement savings in the TSP because "it has the lowest fees" (which isn't true because there are options with NO fees). 🤦♂️ When they're asked about market risk, and the fact that they can no longer dollar-cost-average into their account anymore because they're no longer able to make contributions, they say "I just moved it to the G-Fund because even that is getting 4-5% returns right now. 🤦♂️ Well, I've got some bad news for you...🫣 ➡️Current G-Fund 1-year performance is 4.28% ➡️Current 1-year inflation is 3.2% What does that mean?🤔 It means that your INFLATION-ADJUSTED RETURN is actually 1%. 🫢 I know what you’re thinking… B, B, But…muh fees! I know, but what you don’t know, is that fees are only one part of the equation.🤓 Wanna learn about the rest? https://lnkd.in/gMfHrMeT If you’re making major financial decisions based on what someone is telling you at TAP, you’re planning on failing. Regardless of whatever title they may have given themselves, they are NOT Advisors, and SHOCKER…they’re only telling you one part of the story.😱 👉Follow me for more insights into TSP, SBP, VGLI, Military Transition, and VA Disability. Want to learn how to stop making Military Money Mistakes? Schedule a call with the link below.👇 https://lnkd.in/gif7Av2i #military #veterans #militarytransition #retirement

Mark truly thoughtful topic and question. For many military leaders more than half their adult life was in the uniform. As the transition becomes a reality investment in themselves is a MUST DO and YES it is mandatory...but purposeful. 💢Purposeful Planning: More Than Just Checking the Box☑️💢 Transitioning from the military requires more than simply ☑️"checking the block"—it demands purposeful action. Here's what I learned: 1️⃣Start Early: Map out career goals, skill gaps, and industries that fit your strengths well before separation. 2️⃣Build Your Network: Connect with veterans, mentors, and industry professionals. Networking is critical to success. 3️⃣Translate Your Skills: Focus on how your military experience fits into the corporate world and gain certifications if needed. 4️⃣Be Ready: Prepare financially and emotionally for this life change. 5️⃣Take Action: Planning is essential, but execution is what brings success. 🔀 Start now. Reach out, connect, and take the steps needed for a smooth, successful transition!