Do you know what the SBP decision is? If not, you’re not alone. A lot of service members and spouses don’t know it’s a decision they will be faced with come retirement time. And many don’t know the factors they should consider in the decision.
In this episode, I talk with a Survivor Benefit Plan expert, Kate Horrell about the Survivor Benefit Plan FAQs you should know the answers to before you decide on whether or not to elect the SBP for service members’ pension.
Kate Horrell is a military spouse, Accredited Financial Counselor, and personal financial educator who helps the military community make the most of their pay and benefits. With over 10 years working with thousands of military families, she understands the concerns of currently serving, retired, and veteran families.
Kate breaks down what the SBP is, when you should start preparing to make a decision, and the factors you should consider. The SBP decision is something my husband and I faced when he retired and there are many things in this show that we did not even take into consideration like being fully paid up at some point. So lots of great info in this episode for you.
Buying a home is a big undertaking whether it’s your first or fifth time. I still remember the first time my husband and I bought a home. Let’s just say, there was a learning curve. Navy Federal Credit Union helps military members and their families tackle home ownership. They offer mortgage options with zero down payment and options that don’t require private mortgage insurance. Which helps you save money each month. You can learn more at navyfederal.org.
More Podcast: Mapping Out a Plan For Your Pension and Benefits
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If you want to “kickstart” your finances in the military, you can get access to my free Financial Kickstart Kit here.