Some of us plan military retirement from the very beginning, with our goals firmly set from day
one of the start of our military lives.
Others wait until 20 years later, when the last day of active duty is staring us straight in the
face.
No matter what path takes you there, retirement is a lot to digest. Among those thoughts that
might keep you up at night: Where will we live? How will we get jobs? Will we have enough
money? What about life insurance, health insurance and investments? How quickly will we
adapt to life in the civilian world?
Some would say never to that last question, and that’s one reason this column is here. To help
you, as a military spouse, plan for and navigate retirement, whether you’re two decades or two
days from that milestone.
Every other week we’ll dispel a lot of the many myths (or just downright misinformation)
floating around out there about military retirement. We’ll talk about things like the different
types of retirement, VA benefits, life insurance, the Spouse Benefit Plan, education benefits,
PCS entitlements and healthcare – just to name a few.
We’ll also look at what you can do to prepare yourself now for a career after military life, and
how you can jump start your plans no matter how far from – or how close to – retirement your
servicemember is.
To put things in perspective, here’s a snapshot of military retirees as of 2016, according to the
most recent annual Department of Defense Statistical Report on Military Retirees:
- Roughly two million current military retirees are drawing some sort of pay from DOD.
- Another 52,000 are eligible to retire this year.
- Nearly all live in the U.S., although when it comes to foreign countries Germany is the
most popular.
- More military retirees - 209,000 to be exact - live in Texas than any other state. Florida is
the next most popular state for retirees, followed closely by California and Virginia.
- Officers retire at an age of 49.6 years, enlisted personnel at 44.9.
- Most officers retire at the rank of O5 (not including medical retirements), while E7 is the
most common rank at retirement for enlisted personnel.
Feedback is always welcome. Feel free to comment with your questions, topics you’d like to
know more about or see addressed in the future, or your own personal experiences. You can also
email Jan Childs at janwchilds@yahoo.com.