Can You Really Live On a Military Retirement Today?

Can you really live on a military retirement/pension? In this video, I talk about where exactly can you retire to with a military retirement.

I explore different pension amounts military servicemembers can expect and locations where full retirement without working could be fesible. Military retirement has changed since 2018 and although I largely disagree with the changes, it is still an incredible benefit. Understand what type of lifestyle your Army or military retirement / pension can offer you. So, can you retire?

Thanks for watching!

[ataboc]

I'll never regret serving 21 years. I'm retired at 40. It's amazing.

[FocusedLogos]

Good luck to those that advance, keep in mind though… 😌

Oh wow, let’s take away a 1.5-2 million dollar retirement pension plan and match people 5% on TSP even though with max contributions of $18, 500 every year from year 1 to 20 that will only account for less than $18, 500 in government contributions with a maturity of 7% compound interest growth accounting for less than $41, 500 dollars from the DOD within 20 years of maturity at 7% compounded growth. Thanks DOD for literally screwing everyone even though TSP has always been a thing. You could’ve had Max contributions with that type of maturity in your portfolio account gaining 830 thousand dollars and have a pension accounting for 1.5 to two million dollars originally. Blended retirement TSP is a SCAM as a singular retirement option with 5% contribution. Oh what’s that…we are going into a corporate structural retirement plan…damn, didn’t know Amazon employees ran into bullets or dealt with ordnance or aging orange or nuclear reactors on carriers. Seriously, most people don’t make enough in the military to max out the contributions on average until 6-9 years into their career. What about kids and a wife or the merits of enjoying the vertical mobility of promotion. Eh who cares, DOD definitely doesn’t give a damn. Oh, but people will have something when they leave the military. Like after they do 10-15 years and at what point statistically did they start investing Max contributions to begin with while balancing family and just every day life on top of this inflated market? Big questions that everyone should be challenging.

[EricDaMAJ]

I retired as an O4 with 20 years (but including OE time) in 2014. I had a 700k portfolio when I left. I did not seek a government or corporate job so I stopped work for good. The pension funds 80% of my life in California (a horrible retirement location but it’s home). The portfolio nearly tripled. I’m naturally frugal but I want for no middle class luxury.

[frankhall]

If all you Swabs in San Diego, think you're gonna retire their, you're in for a rude awakening.

[alphacentauri]

Currently in service 9 years making important decisions, want to be like you all if I stay

[tgarner]

Dual retired military couple, one officer and one enlisted. Both receiving 100% VA Disability compensation and both working on second retirement as federal employees. Joining the military was one of the best decisions we ever made. We will have at least 6 different streams of guaranteed income once (times two) when we completely retire at age 62 (Military pension, VA disability, FERS pension, TSP, social security and rental property).

[briangulley]

Retire and get a second career, living off mil retirement is doable but why? Your young and strong with just enough to survive who wants to live like that. I retired from the AF and AZ Dept of Corrections and started SS at 62. life is good. I make more in retirement that I made working.

[HLsteppa]

Compared to civilian retirement, military is superior hands down, however for a service member living a "standard" life...no. When I say standard, I mean kid(s) spouse, debt, living inside the United States. It's possible, if you live a very spartan life or expat to somewhere with a very low cost of living (Thailand, Latin America, ect.)

[ComicBookVeteran]

The actual numbers were at one point 50% of your final base pay, but they redid it to 50% of your high three years (ordinarily your last three years). It was another way congress has hosed the military over. I also happened to retire to Mississippi. I could not support my family of four on my retirement alone here. Don’t get me wrong, it was a great career and I highly recommend it if you can do it.

[orlandocarrillo]

If you don't have debt and children you can survive comfortably. I get around 2K a month after I retired. Having a mortgage and children requires me to work a second career for sure, I had children later into my 40s.

[steelcastle]

Two other significant parts of military retirement is not all military pension/disability is taxed and you get lifetime medical/dental and low-cost medical insurance for your spouse.
Also, I forgot about access to post/base PX/Commosary, facilities (pool, hotels, gyms, rental equipment, golf courses, weapons ranges, etc).

[emtfirebb]

20 years, as an E7 with 100% disability I'll will be making about what I make monthly active duty as an E7 with BAH and BAS after taxes. There will not be much change. Then I go out and work another job. My wife works and brings in over 40 thousand a year. If I work even a part time job I will have no issues. I own my own house. I have 15 grand in savings and my retirement plus my disability will cover all my bills. The money I work for after the military is basically pocket money. 🙂

[deanc]

One question: I'm an active duty medical provider with 19 years in. Is it better to retire at 20, and then work part time for the VA, which is at least 150K, with the view towards getting out at 6 years? Vs Working past 20 years full time active duty, say for 6 years, then completely retiring after that? Oh, and I'll be 57 at 20 years. Thanks. Great video.

[leroyphoenix]

Great video, I'm retiring in the Philippines with pension and 100% VA disability.

[fortgrove]

I enlisted in 1983 and retiring from active duty this year. Glad I found this channel.

[adam]

The above average member will have also invested a good chunk of their wages into a diversified portfolio to make work optional after a military retirement. Only takes a little bit of auto saving and discipline to retire in style with a military pension to take care of your basic expenses and health care costs.

[JoeGilson]

I hear Ciudad Juarez is lovely this time of year.🤣

[ajstyles]

I thought you couldn't lose your pension, if you were incarcerated. It's something you earned.

[luisvalencia]

When I started my military career in 2017, I opted to remain in the High 36 instead of the BRS on a whim. At the time, I didn't really understand the gravity of my choice, but I figured that there must be a reason that the old system is being replaced (poor reasoning, I know). It's good to know that I'll at least get 50% of my base pay if I choose to retire after 20 years.

[attackfive]

Good summary, and thanks for your service!