You can get a solid estimate in less than five minutes using free retirement pension calculators for both the High-36 and Final Pay legacy retirement systems offered by the Department of Defense. Here’s how to use them – and what you can do to adjust the outcomes to fund your future retirement lifestyle.
Military Separation & Retirement
Transitioning to civilian life is just like everything else in military life. The more preparation you do, the more smoothly everything goes. Whether you’re moving on after one tour of duty or you’ve put in 20 years or more, you have a lot to do as you bring your military career to a close.
Retirement can feel like a long way away, especially if you’ve only just started your military career. Still, what you save today will grow significantly by the time you’re ready to retire —even if it’s only a little bit each month.
Preparing for your separation or retirement from the military with a special needs family member may require additional consideration. Develop a plan using available support, tools and resources.
The first step toward owning your own home is meeting with a lender to secure a loan. The Home Loan Program, through the Department of Veterans Affairs, is a substantial benefit you have earned with your military service. These invaluable loans require no down payment, no private mortgage insurance, and negotiable interest rates.
The day will come when you’re preparing to get out of the military. You might have spent many an hour already thinking about where you want to live when you get out. Now it’s time to get practical.