Question about active duty retirement

[Anonymous]

My DH has 6.5 years left to qualify for the 20 year active duty retirement (he would retire at an O-6, most likely). He currently has a good shot at getting an Federal SES job. We are trying to understand the financial impact on our retirement. With the SES job, he would have better job satisfaction and we would have better family stability. What do you think??

[Anonymous]

Do the 20 and worry about it as soon as he gets another job. The most important thing is to be able to keep tricare, if it is still available when he retires.

[Anonymous]

Anonymous wrote:Do the 20 and worry about it as soon as he gets another job. The most important thing is to be able to keep tricare, if it is still available when he retires.

Are you saying stay the full 20 years versus possibly taking the SES job now? That was my question, sorry if I wasn't clear. We are debating turning down the job (SES) to get the full 20 year benefits, as opposed to starting the SES job now and forfeiting the active duty years.

[Anonymous]

Don't assume anything, including that he will retire at O6.

A lot can happen between now and then, including that you will have the retirement that you were promised throughout his career.

I would stay for Tricare. It is not the best option, but it is a great cover for your family in case other things don't go as planned.

[Anonymous]

When does his active duty service commitment end?

If he still has a few more years left with that, then you should stay to retirement.

[Anonymous]

He can leave at any time, but not eligible for retirement until 20 years, which is 6.5 years away.

[Anonymous]

Do the 20. There are online calculations for how much he'll be eligible for as well as Tricare. 6 years is close unless he absolutely hates it and its a great hardship for your family.

[Anonymous]

Anonymous wrote:He can leave at any time, but not eligible for retirement until 20 years, which is 6.5 years away.

Are you certain about that? Have you pcs'd recently, gone through any school program or gotten promoted recently? All of those things add to your active duty service commitment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:He can leave at any time, but not eligible for retirement until 20 years, which is 6.5 years away.

Are you certain about that? Have you pcs'd recently, gone through any school program or gotten promoted recently? All of those things add to your active duty service commitment.

Yes, sure about that piece. It's the financial stuff that is tricky!

[Anonymous]

Anonymous wrote:Do the 20. There are online calculations for how much he'll be eligible for as well as Tricare. 6 years is close unless he absolutely hates it and its a great hardship for your family.

This is the tricky piece. It is a hardship - the moves are tough on the kids (and me!), though we would probably only have 2 more.

[Anonymous]

Your base Family Readiness Center or Personnel Center should have some sort of transition assistance program set up for those considering separating. I forget the exact name of the program and am sure it is called different things in different branches.

That should be your first stop before you make any decisions.

The recommended time frame is to attend the class one year prior to your separation date to make sure that you do everything correctly and take steps to maximize your life after retirement. You will learn a lot of things that you might not know about separating from the military and military retirement.

[Anonymous]

Three options really.
1. Go SES now. Buy his time in military towards federal service. Expensive but worth the return. He will
Have to pay for medical, but fed medical options aren't too expensive.
2. Go SES now, but stay in the reserves. He can still get a retirement from military at 60.
3. Stay another 6 years and be set for life. Not rich, but a HUGE safety net.
Personally, we stayed to 20 for the safety net.

[Anonymous]

The military is still up or out for officers isn't it? Is that a possible concern? Particularly with the reductions they're planning in the officer ranks I'd consider that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Do the 20. There are online calculations for how much he'll be eligible for as well as Tricare. 6 years is close unless he absolutely hates it and its a great hardship for your family.

This is the tricky piece. It is a hardship - the moves are tough on the kids (and me!), though we would probably only have 2 more.

The last few years are the hardest. But several years into retirement with the perks, you will appreciate. I separated from my husband the last two as he was transferred cross country and I had a job here we needed upon retirement. It was beyond terrible but we got through it. We have a special needs kid and I have health issues. Tricare has been a huge savings for us and we could not do the services without tricare. Private insurance would never cover the therapies like tricare. We never saw it coming. If my husband left like I wanted we would be so far in debt trying to do what they help with.

[Anonymous]

Military folks have it really good with retirement - I wonder when Obama wil change things even more than he already has.