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Your retirement plans . . .

robav8r said:
I get it every year during my physical. A yearly physical with full blood work is essential IMO.
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I wonder if they will do that for my next blood work, I am scheduled to go in for my blood draw this week.

Honestly the yearly blood work is what makes me nervous, always afraid they will find something, the odds are of course low but when you know someone that had something come up and shortly after passed away it makes you a bit paranoid.
 
Brett327 said:
My time here on Kauai has taught me the importance of the Chamber of Commerce and how much City/County government matters to small business, and I hope to continue that effort wherever I land.
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One of my COs from way back got a job post-base CO as an airport manager for a small municipal airport. He ended up as the City Manager for a bunch of years before final retirement. Seemed like a good gig.
 
We've done well with Medicare Parts A and B, and have used Tricare for Life (TFL) as our prescription drug coverage (Medicare Part D) and as the Medicare supplemental. Traditional Medicare gives you the most options for physician access in the community. I would advocate caution if considering a Medicare Part C plan ("Medicare Advantage Plan"). Part C plans are run by private insurers who are paid a fixed amount by Medicare to provide insurance. These plans keep their costs down (and their profits up) through provider networks and frequent reimbursement cuts to physicians, as well as challenging or denying claims. Physician groups will often simply "opt out" of these plans when the offered reimbursement and/or the harassment package of claim denial simply isn't worth it, leaving you to look for another group "in network", or pay the "out of network" penalty. At least one of these companies is now the subject of a class-action lawsuit regarding claim denial. https://arstechnica.com/health/2023...derly-out-of-rehab-nursing-homes-suit-claims/

TFL pays what Medicare doesn't so we haven't had any significant bills other than the premiums for both Medicare and Tricare. I have used the VA only for hearing aids. Several reasons for that. As Taxi1 says, I recommend readdressing your VA disability status every few years, and immediately upon the discovery of new health conditions. There might be money on the table that you don't want to leave behind.

Medicare will use your income from prior tax years to calculate your premium, so be prepared to renegotiate your payments if your income goes down the same year you hit Medicare eligibility. The process isn't hard, but it is time consuming.

Living in a no-income tax state is a plus in my opinion, but if you've planned for that expense, it probably is a wash.

Great thread, by the way.

V/R
 
taxi1 said:
They can check your PSA with the blood test, but it will take a biopsy to close the deal.

I still have my FAA up chit, but have to jump through some hoops now to get an annual waiver since I am not treating it.

If anyone has questions, I’m pretty well gouged up.
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Noted.
 
Any comment on GS post retirement healthcare option for non-mil retired?

I've been advised to delay any VA disability path until I am at 5 years of civil service. As a Desert Storm and a helo' bubba, there are a variety of paths (back, SPH-3 helmet, etc)
 
Funny how fate intervenes... I divorced (at relatively low cost, thankfully) five years before my military retirement, then remarried just a year before retiring. I was clueless, but it turned out she was pretty well off. We were together for 16 years before a rare disease made me a widower. I've since remarried again. As far as healthcare, Medicare A+B and Tricare for Life work for me, and I also do the Fed dental plan for the basics. Life is good.
 
FormerRecruitingGuru said:
I’ll let you ladies know how my crypto investments flourish.
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All jokingly aside...

I transitioned off active duty to being a "real" reservist where I can still "retire" from the Navy and earn a solid SELRES retirement. I have about ~ 3800 points and with the active duty orders I've been on, can collect said retirement when I'm around 51-ish years old.

My biggest regret from active duty was getting into the TSP game, I started contributing late and ended up "transferring" that TSP money (not much) into my current civilian 401K through Vanguard.

My employer (major tech firm) offers about $20K ish in stock options annually, I'm hoping between that and the 401K matching that it'll get me back on par in terms of having a comfortable retirement.
 
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FormerRecruitingGuru said:
My biggest regret from active duty was getting into the TSP game, I started late and ended up "transferring" that TSP money (not much) into my current civilian 401K through Vanguard
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Was your regret putting pre-tax money into the TSP at all? Or, was it that you started late?

Just trying to clarify what your regret is.
 
FormerRecruitingGuru said:
Contributing late. I should have invested way earlier in my career.
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Makes sense. I tried the best I could to max out my Roth and TSP as early as I could in my career. Luckily I could, but I know others might not have the luxury.

I guess it's maybe somewhat debatable on which you should max out first (Roth/TSP). Depends somewhat on what tax bracket you expect to be in at retirement and RMD age I think, or whether the brackets will be significantly different at that time.

Others with more financial knowledges than me can weigh in.
 
JTS11 said:
I guess it's maybe somewhat debatable on which you should max out first (Roth/TSP). Depends somewhat on what tax bracket you expect to be in at retirement and RMD age I think, or whether the brackets will be significantly different at that time.
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It's gonna be different for everyone's situation, but the general consensus I've seen floating around out the internet is:

1. Contribute at least 5% to TSP to get the free match money (if you have BRS)
2. Max IRA
3. Max the rest of your TSP

Anything beyond that is up to you. I personally use a taxable brokerage when my other stuff is maxed out.

Then there's the Roth vs Traditional discussion. Generally speaking, Roth is better if you plan on being in a low tax bracket now vs in retirement. Traditional is the opposite. For that reason, a lot of younger folks or low-earners go with Roth
 
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Meyerkord said:
True, good call. There are still people on the legacy system. In that case, step 1 doesn't really apply
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Bottom line, if you invest your money in crypto, NFT's, Iraqi Dinar, etc, before following the 3 steps you posted above...you're doing it wrong. 😄

Actually if you invested in the 3 things I listed, @Meyerkord 's 3 steps wouldn't have ever crossed your mind.
 
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