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Should You Stay for the Pension? (with Grumpus Maximus)

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Should You Stay for the Pension? (with Grumpus Maximus)

From the day you join the military, you’re already counting down the days until you are faced with the decision of should I stay in for the pension. Everyone has to decide at some point. But that’s a big choice for everyone and one that can have significant financial impacts. There are also things to consider, like family life, education, future employment, and mental health in your decision.

 

Grumpus Maximus has a new book out to help you make that decision. It’s called “The Golden Albatross: How To Determine If Your Pension Is Worth It.” Grumpus is a retired U.S. military officer, husband, father, blogger, and first-time author. Grumpus and I talk about deciding to stay in or get out of the military.

 

Thank You!

Thank you to the Financial Coaching Business Builder (FCBB) for supporting The Military Money Show. You can learn more about how the FCBB course can help you build a profitable and portable financial coaching business here.

 

Should You Stay for the Pension Episode Details

  • What the Golden Albatross is and what it stands for
  • The factors that should be in your decision to stay in or get out of the military
  • Why your “Why” is essential in deciding to stay in or get out
  • How to develop your coping strategies for staying in
  • What service members who are getting out before 20 years should know and how to plan
  • The realities of the military world like PTSD and how it impacts your decision
  • Actions you can take if mental health is impacting your ability to serve 20 years
  • The importance of medical benefits in calculating and planning your decision
  • How to calculate your numbers for retirement
  • Why you should be using your Thrift Savings Plan (TSP)
  • The BRS and serving the 20
  • What steps you can take today to start planning and making decisions about your pension

 

More on the TSP: How to Make the Traditional vs. Roth TSP Decision

 

Should You Stay for the Pension Resources

 

More on retirement: Understanding the Funds in Your TSP

 

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