If you have been in the military for more than ten years, you are likely looking at sticking around for retirement. If so, you have a retirement decision to make prior to reaching your fifteenth year in service. Many servicemembers choose to accept the so-called "Redux" or Career Status Bonus that offers $30K up front and a significantly reduced retirement payment later. If you entered service after August 1986, you have the option to choose either the High 36 retirement system, or the Career Status Bonus/REDUX (CSB) retirement system. If you decline to make a choice you will automatically receive the High 36 retirement plan.This decision is not to be taken lightly. Watch the following USAA video featuring June Walbert to learn more about this important decision.
On Wednesday, President Obama signed into law the 2016 National Defense Authorization Act. Amongst its many provisions, it provides for a 1.3% raise for most service members. You can see the complete chart elsewhere at Military.com, but here I’d like to talk about what this raise means and what you should consider doing with that […]