I love this time of year. First of all, it’s hot. And I like the heat. Maybe that’s why I call San Antonio home. But...
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You've spent years saving for your future, and now you're ready to relax and take it easy. But one question may be weighing on your mind: Which retirement accounts should you spend down first? If you own both tax-deferred and taxable accounts, the answer can be complicated. "The decision you make about which accounts to tap will affect more than just this year's tax bill," says USAA certified financial planner ™ practitioner J.J. Montanaro. ... more
Years before you hang up your uniform and leave active-duty military service, you will need to make a major decision about your retirement pay. If you entered on or after Aug. 1, 1986, you'll be asked around your 15th year of service to choose between two different retirement plans. The High-36 retirement plan is so named because it's based on the average of your highest 36 months of basic pay, while the CSB/REDUX option comes with a $30,000 ... more
Do you dream of the day you can retire, but aren't sure how to get there? You're not alone. Many people find it easier to avoid reality when it comes to planning for retirement. "That can lead to big mistakes in their retirement income planning," says Zachary Gipson, vice president of retirement and wealth planning at USAA. Here's a look at five common myths that could derail your expectations for income when you retire. Myth 1: You won't be... more
Here's a question to motivate you as we begin a new year: Can you retire from the military as a multimillionaire? A review of the DoD Stat Book recently got me thinking about the possibility. With all the changes in the works for military retirement and a son just launching his military life, I had the incentive I needed to spend a little extra time on the subject. My conclusion: Financial freedom may be well within the grasp of those that s... more
Since my last article, I received hundreds of e-mails from several Military.com members. One of the more common questions came from veterans asking about buying a home in the right area. This depends on the strength of the city's job and real estate markets. But first, I'll start with what it takes to get a VA Loan and what that means, and then offer some location recommendations. The Veterans Administration (VA) — unlike Fannie Mae and Fredd... more