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003: Here's what to say the next time someone says, "Thank you for your service."
003: Here's what to say the next time someone says, "Thank you for your service."
Jen Amos takes a detour from the Survivor Benefit Plan to talk about the most important thing it protects: your military pension. She explains the basics of the military pension, how to calculate your Estimated Retired Pay, and introduces financial terms: the "present value" and an "annuity." Lastly, she shares a clever way to respond the next time someone says, "Thank you for your service."
Resources (in the order they were mentioned)
- Show Sponsor, US VetWealth https://usvetwealth.com/
- FREE MONTHLY LIVE ZOOM DISCUSSION How to "Pre-Fund" Your Military Retirement Pay Protection with a Private Spouse & Family Plan Without Paying for the Survivor Benefit Plan https://usvetwealth.com/sbp-online-workshop-lp/
- SBP Financial Analysis Tools by the DoD Office of the Actuary https://actuary.defense.gov/Survivor-Benefit-Plans/
- Download Program - Survivor Benefit Plan Probability https://actuary.defense.gov/Portals/15/SBP%20Probability%202022.xlsx
- Active Duty Retirement https://militarypay.defense.gov/Pay/Retirement/ActiveDuty.aspx
- Military Retirement: Background and Recent Developments by the Congressional Research Service https://sgp.fas.org/crs/misc/RL34751.pdf
- Military Retired Pay Overview https://www.military.com/benefits/military-pay/military-retired-pay-overview.html
- High-3 Calculator https://militarypay.defense.gov/Calculators/High-3-Calculator/
- Estimate Your Retirement Pay https://www.dfas.mil/RetiredMilitary/plan/estimate/
- Military Compensation Calculators https://militarypay.defense.gov/Calculators.aspx
- How to Calculate the Present Value of Military Pension Benefits https://usvetwealth.com/calculate-present-value-of-military-pension/
- Discover the value of annuities - an introduction https://www.nationwide.com/lc/resources/investing-and-retirement/articles/what-is-an-annuity
- Two ways to leave something behind for your loved ones https://www.dfas.mil/RetiredMilitary/provide/two-ways/
- Defense Primer: Military Retirement by the Congressional Research Service https://sgp.fas.org/crs/natsec/IF10483.pdf
- Military Retirement Fund Audited Financial Report Fiscal Year 2020
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By Jen Amos003: Here's what to say the next time someone says, "Thank you for your service."
Jen Amos takes a detour from the Survivor Benefit Plan to talk about the most important thing it protects: your military pension. She explains the basics of the military pension, how to calculate your Estimated Retired Pay, and introduces financial terms: the "present value" and an "annuity." Lastly, she shares a clever way to respond the next time someone says, "Thank you for your service."
Resources (in the order they were mentioned)
- Show Sponsor, US VetWealth https://usvetwealth.com/
- FREE MONTHLY LIVE ZOOM DISCUSSION How to "Pre-Fund" Your Military Retirement Pay Protection with a Private Spouse & Family Plan Without Paying for the Survivor Benefit Plan https://usvetwealth.com/sbp-online-workshop-lp/
- SBP Financial Analysis Tools by the DoD Office of the Actuary https://actuary.defense.gov/Survivor-Benefit-Plans/
- Download Program - Survivor Benefit Plan Probability https://actuary.defense.gov/Portals/15/SBP%20Probability%202022.xlsx
- Active Duty Retirement https://militarypay.defense.gov/Pay/Retirement/ActiveDuty.aspx
- Military Retirement: Background and Recent Developments by the Congressional Research Service https://sgp.fas.org/crs/misc/RL34751.pdf
- Military Retired Pay Overview https://www.military.com/benefits/military-pay/military-retired-pay-overview.html
- High-3 Calculator https://militarypay.defense.gov/Calculators/High-3-Calculator/
- Estimate Your Retirement Pay https://www.dfas.mil/RetiredMilitary/plan/estimate/
- Military Compensation Calculators https://militarypay.defense.gov/Calculators.aspx
- How to Calculate the Present Value of Military Pension Benefits https://usvetwealth.com/calculate-present-value-of-military-pension/
- Discover the value of annuities - an introduction https://www.nationwide.com/lc/resources/investing-and-retirement/articles/what-is-an-annuity
- Two ways to leave something behind for your loved ones https://www.dfas.mil/RetiredMilitary/provide/two-ways/
- Defense Primer: Military Retirement by the Congressional Research Service https://sgp.fas.org/crs/natsec/IF10483.pdf
- Military Retirement Fund Audited Financial Report Fiscal Year 2020