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SPONSORED LINKS: Revolutionary Trading Platform Top Currency Trading Platform Fewer Sailors and officers approaching their 15th year of service this year are choosing the REDUX retirement plan and C http://www.navy.mil/search/display.asp?story_id=91901. Currently there are three retirement plans for military members. These are known as FINAL PAY, HIGH-3 and REDUX. Following is a brief summary of each. http://www.dfas.mil/army2/bonuses/redux.htmlRetirement Calculator (CSB/REDUX and High-3) Calculating CSB Recoupment Amount - Xls 16 Kb ... Survivor Benefit Plan (SBP) - The Survivor Benefit Plan is the sole means for ... http://www.armyg1.army.mil/rso/PreRetirement.aspThe good news: The percentage of eligible service members choosing the $30,000 Redux bonus ? and the diminished lifetime retirement annuities that come with it ? are a lot ... http://www.airforcetimes.com/news/2008/11/airforce_reduxtrends_113008/Choosing between the High-Three and the Redux military retirement programs: Thrift Savings Plan participation a valuable option from Army Lawyer provided by Find Articles at BNET http://findarticles.com/p/articles/mi_m6052/is_2000_Sept/ai_71828859/Military retirement pay offers active duty service members a retirement income plan that's ... their 15th year, they are asked to choose between the High-3 and CSB/REDUX plans. https://www.usaa.com/inet/ent_utils/McStaticPages?key=ret_understand_your_military_retirementIs the Military REDUX Retirement worth the $30,000 Career Status Bonus, or is it better to take the High-3 Retirement Plan? http://militaryfinancenetwork.com/2009/07/26/csb-redux-retirement-system-calculator/?If Marines select the Redux retirement plan and the $30,000 bonus, they are effectively borrowing against their retirement pensions,? CNA says. http://www.airforcetimes.com/news/2008/11/airforce_reduxreview_113008/High-3 vs. CSB/REDUX Retirement Comparison. 15th Year Situation. In order to determine your estimated retirement pay flow, we must first establish your situation at 15 ... http://militarypay.defense.gov/mpcalcs/Calculators/compare.aspxReaders of Tom Philpott?s Military Update column sound off. Redux Bonus: Government-Designed 'Rip-Off' I agree that the Redux retirement plan is a rip-off. http://www.military.com/opinion/0,15202,174632,00.htmlDon't Second Guess Your Retirement Years - You Must Set Goals for Your Retirement!
When you start planning for your retirement, the first thing
you'll need to do is think about how you will be spending your time once you
are retired. Will you spend most of your time golfing, quilting or driving
around the country in your RV? Will you take a lot of trips? Where will you
go? How much will you need to save to pay for all of the things you want to
do?
When you are retired, you will have time to travel wherever you want to go. You will be able to take up hobbies that you never had time for. Think about what you would enjoy doing when you are beginning to save so that you will have an idea of how much you will need. It costs a lot more to travel all over the world than to sit at the side of a pond fishing all day. Another aspect of retirement planning that many people neglect is planning for a healthy retirement. If you are healthy, you will get a lot more enjoyment out of your retirement years. By eating well and exercising regularly, you can keep your body in good shape so that you won't have to limit your activities for health reasons once you reach retirement age. You should also think about who you will spend time with once you retire. If all of your friends are at work, retirement can be pretty lonely. Try to make friends with people who will still be around when you are no longer working, such as neighbors, club members and people from your church. Then, of course, there is the financial planning. Start by checking to see where you are. Check your social security statement (they send one every year) to see how much you can expect to receive once you retire. Do you have any retirement savings already? How much more will you need to save? How many years do you have left to save? Once you have determined how much you need to save, you'll have to figure out how to do it. Talk to a financial planner to get an idea of the kind of return you can expect to get for your investments and to find out how much you will have to set aside each month to reach your goals. Then find a way to fit that amount into your budget and do it.
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