A retirement guide for military retirees….

By: admin | January 10, 2019

Transitioning from a life of serving in the military to a retired military personnel can be a long, unsteady road. You may be unsure of what benefits you are eligible for, or you may feel like you need to get away from your own mind. Every single military retiree feels differently when it comes to their individual retirement, and this is normal. Whether you have questions about what to expect after retiring or what perks you may receive, this guide is here to help you through this delicate and touching process.

Let’s start off by answering some Frequently Asked Questions.

What is the Difference Between Veterans and Retired Military Personnel?
Being a veteran is slightly different than being a retired military personnel. A veteran is any individual who has served in the military and left the service. They are still considered to be part of the military. Combat veterans are those who served in a combat zone. A retired military personnel is any individual who has retired after their expected 20 years of service. Thus, all retired military personnel are considered veterans as well, but not all veterans are retired military personnel.

Do Retired Military Personnel Receive a Pension?
Retired military personnel have one of the best retirement pensions in the United States. For those who have effectively served their 20 years in service, they are able to receive a pension of half, or fifty percent, of their base pay. In addition to this, they are eligible for full a medical insurance plan coverage and many other benefits.

Now that we’ve reviewed two common frequently asked questions, let’s review some key information you should have when retiring.

Benefits of Military Retirement
There are plenty of benefits that individuals receive after retiring from the military. Some of them include:
Retirement Pay and Pensions
Education Benefits
Veteran’s Affairs Benefits
Veteran’s Discounts

Let’s dive deeper into the benefits received from retiring from the military.

Retirement Pay and Pensions
Retired military receive retirement pay and pensions that can provide them money for their life to come. Since retirement only requires 20 years of service, this is significantly less time than other businesses and companies require for retirement. When you decide to retire, you can choose one of two plans:
$30,000 after 15 years of service, and then after retirement at 20 years receive 40% of the individual’s highest pay
After retirement at 20 years of service, receive 50% of the individual’s highest pay

If you are planning to retire and have been in the service for less than 15 years to date, when your service hits 15 years you’ll be asked to choose an option. If you’ve been in service for over 15 years to date, you most likely have already chosen your plan. Military retirement pays and pensions are significantly higher than some other job opportunities available to the population.

Education Benefits
As you transition from combat to career, you may be eligible for education benefits provided by the military. If you’re interested, most retired veterans receive all of their GI Bill benefits. This opens the doors to furthering your education and the ability to qualify for other various jobs with your newfound education.

Veteran’s Affair Benefits
Being a retired veteran, you are eligible for various Veteran’s Affair, or VA Benefits. These can include anything from life insurance, home loans, health care, and dental care. All of these benefits can improve your quality of life and ease any worries you have about your health and ability to live naturally. Veterans should never have to fear not having any insurance or support forms, and the military takes care of their veterans in this way.

Veteran’s Discounts
Plenty of business locations offer various military discounts to its customers. This could save you money on a lot of different products. Some of the most popular locations that you can obtain a veteran discount include:
Car, Rental, and Shop Discounts: Ford, BMW, Harley Davidson, Subaru, Enterprise, Hertz, Advanced Auto Parts, Pep Boys, etc.
Entertainment Locations: AMC Theatres, Fandango, Showcase Cinemas, etc.
Gym Memberships: 24 Hour Fitness, Atkins, UFC Gym, YMCA, etc.
Food and Grocery: Costco, Omaha Steaks, Sam’s Club, etc.
Restaurant: Buffalo Wild Wings, Outback Steakhouse, etc.
Home Stores: Home Depot, Frigidaire, Lowes, Pottery Barn, Yankee Candle, etc.
Insurance Discounts: Geico, AARP, Pet First, etc.
Retail: CVS, Cabela’s, Bass Pro Shops, Yeti, etc.
There are plenty of other locations that offer military discounts and benefits. Don’t hesitate to ask and be proud of everything you’ve accomplished during your service.

Best Locations for Retired Military Personnel to Live
Some states and locations are significantly better for retired military personnel to live. Some of the best places for you to live if you are a retired military member include:
Manchester, New Hampshire
Colorado Springs, Colorado
Oklahoma City, Oklahoma
Your Last Duty Station
Your Home Town

Let’s take a look into the specifics of these locations and why they are best for retired members of the military.

Manchester, New Hampshire
New Hampshire is consistently listed as one of the best states for any retired military personnel. This is because New Hampshire has low sales tax, affordable housing, and no state tax on military retirement pay. This means that you get to keep all of your income, tax free. Additionally, if you decide you want another job, Manchester has a very low unemployment rate, making for plenty of job opportunity.

Colorado Springs, Colorado
Colorado Springs is great for those who love nature and the outdoors but want a stable environment for retired military. Colorado is full of beauty, mountains, and rock, but that’s not all. Colorado Springs has a strong job market and support network for retired veterans.

Oklahoma City, Oklahoma
Plenty of government jobs are available in Oklahoma City, most being employed by the Tinker Air Force Base. There is a very low unemployment rate in OKC as well. Government jobs are great for retired military as they are non-discriminatory and allow military members to easily join.

Your Last Duty Station
Wherever you were last stationed, it is bound to be a decent environment for military personnel, as there is most likely a large population of military there. There will be plenty of veteran support in that area, and you get to live in a familiar area.

Your Home Town
What else is better than emotional and mental support? There’s no place like home, and returning back could increase your comfort level significantly. While it may not have the best tax breaks or veteran perks, you’ll be in a very familiar area and be able to feel safe and at home there.

Happy Retirement

Retiring from the military can bring up a variety of emotions, but understanding your benefits and what you can receive from this retirement can make the situation easier on you. Remember, you are not alone, and you are appreciated for all of the service you have accomplished. Have the smoothest of transitions possible from combat into a new form of living by understanding all that the military can offer you throughout your retirement.

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