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Thread: Retirement... UGH

  1. "If you don't like my attitude, quit talking to me"
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    #1

    Retirement... UGH

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    Well, I am now seeing why there are so many retired military homeless, struggling, and on assistance.

    Little by little his retirement check is being dwindled... from having to get life insurance, and pay the premium in order for me and kids to get his retirement should he die, and countless other things... not even worth the check... (not really, but you get my drift)..

    At least now I understand more and more why the MUST get a job after retirement. I can't see how any (enlisted) can survive on a pension check alone. Its just not possible.

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    #2
    we decided to not go with the SBP- it is expensive and for us not worth it.

    we went with a higher life insurance policy.

    DH's retirement check will be about 2400 dollars, and the SBP would pay 1200 a month, with a 500,000 life insurance policy that is invested properly I would earn double or triple that a month and still not touch the principal.
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    #3
    What is SBP?
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    Quote Originally Posted by gunsgirl View Post
    we decided to not go with the SBP- it is expensive and for us not worth it.

    we went with a higher life insurance policy.

    DH's retirement check will be about 2400 dollars, and the SBP would pay 1200 a month, with a 500,000 life insurance policy that is invested properly I would earn double or triple that a month and still not touch the principal.
    Well I'm kind of at a disadvantage because we aren't together and any changes (even a decline) would require them to have to send me all the paperwork, get it notarized and then i'd have to send it back. I only heard about SBP today, in a phone call from him and the lady handling it.. so i was kind of blind-sided, no real time to discuss options, really. I mean there is time, but he's in a sort of panic, so whatever. The lady basically said (or made it seem) like we had no other options. Either do SBP or decline, but then didn't state what we COULD do if we declined (Such as get higher life insurance).

    I'm not as 'miffed' about that as i am life insurance. IDK, I guess when you pay like what $25 a month to SGLI and then have to double or triple that for life insurance.. it just adds up. If I had a minute to think about it all I might do things differently, but he's not here and I know nothing about retirement (unlike yourself where you have all the regs or whatever ) i'm just kind of flying by seat of my pants...

    Maybe I missed it, but is there a sticky about these kinds of things?

    Quote Originally Posted by .pistachio. View Post
    What is SBP?
    Survivor Benefit Plan - basically its the plan in which survivors get the retirement pay after/if a member dies.

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    Thanks for sharing your knowledge.
    Yes we've been looking forward to retirement since we met. But now as the possibility draws closer (a year away), we're being more realistic in the job market just sucking for retiring veterans.
    Still evaluating the options to put his skills and wishes to optimum use.
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    Quote Originally Posted by guerita View Post
    Thanks for sharing your knowledge.
    Yes we've been looking forward to retirement since we met. But now as the possibility draws closer (a year away), we're being more realistic in the job market just sucking for retiring veterans.
    Still evaluating the options to put his skills and wishes to optimum use.
    The job market for my husband is actually fine, so i'm not worried about him not getting a job. Its just, frustrating, when you didn't really know of some of these extra expenses. Like if I knew about them before today I couldv'e done some research and developed some sort of plan or options.

    There are 10 types of people in the world, those that understand binary and those that don't
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    Quote Originally Posted by TrishAFSpouse View Post
    The job market for my husband is actually fine, so i'm not worried about him not getting a job. Its just, frustrating, when you didn't really know of some of these extra expenses. Like if I knew about them before today I couldv'e done some research and developed some sort of plan or options.
    That's wonderful that your husband's job options aren't a problem. DB has many options, but he sounds like he would enjoy doing something in an entirely different direction, and I guess it's that desire that's limiting, not the job market. Lol
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    #8
    Just imagine now if he DIDN'T have health care provided in addition to all that.
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    #9
    Quote Originally Posted by Guynavywife View Post
    Just imagine now if he DIDN'T have health care provided in addition to all that.
    Yeah, I don't think there'd be many folks sticking around until retirement if that were the case The military wants a 60/40 force of first contract/career, but they aren't going to maintain that percentage if they keep slashing retirement benefits
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    Quote Originally Posted by Guynavywife View Post
    Just imagine now if he DIDN'T have health care provided in addition to all that.
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