Retirement Decision Point: Where to Make Your Final PCS Move
This content is provided courtesy of USAA
When you retire from the military choosing where to live is a big decision. Retirement is your permanent PCS: the place where you'll spend time with family, find community, and enjoy the next phase in life.
J.J. Montanaro, a Certified Financial Planner practitioner with USAA, says start thinking about where you might want to live: city or country, small town or downtown.Retiring service members should consider whether to live in a state where there's no tax on military pensions. How about being close to the amenities a military installation offers? Having a VA hospital nearby can help make the most of military benefits. The "Best Places for Military Retirement" list commissioned by USAA and Military.com is a good resource for finding locations that offer these benefits and a high quality of life.
Once you've found the right spot, know how much house you can afford. Calculate income, debts, expenses, and how much you'll have for a down payment. If you need a mortgage to pay for your dream home, you'll likely qualify for a VA loan which may not require a down payment or mortgage insurance. It's a good idea to talk to an experienced lender who understands VA Loans and other standard mortgages to help you find the best option for your needs.