How do you guys retire?

[Wabujitsu]

My situation is a bit unique.

I retired from the Army with 31 years of service. The VA immediately rated me 100% P&T (permanent and total disability).

Prior to being active duty I was a civil service technician for 14 years, vested.

Right after receiving VA disability I received Social Security Disability (SSD). My wife took her SS early last year, at age 62.

In short:

1. Full active duty military retirement (E7)
2. Civil Service retirement (GS-6)
3. SSD
4. Full VA disability
5. My wife’s SS

Combined, we are pulling six figures, only two of the five are taxable. We are making FAR more than when I was active duty.

I didn’t figure in the value of our free healthcare.

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[cseaman]

My situation is a bit unique.

I retired from the Army with 31 years of service. The VA immediately rated me 100% P&T (permanent and total disability).

I read this whole thread and was shocked there wasn't one person who posted about U.S. mil retirement. Funny it was the very last post. I am active duty mil. Did four years enlisted right out of HS, got out to use the GI Bill to go to undergrad and finish with minimal student loans, which were just optional and could definitely not have been taken out. Finished undergrad, went back in via OCS. Did six years in a 'regular' branch and now in a functional area that is filled with 95% civilians and no normal field time.

Will be able to retire as an O4 in 2031 at 42. No kids, so if we are still having fun, I'll probably ride the wave to O5. I'm very fortunate to have had the opportunity of military service...spending my 20s and 30s working hard but also not dreading spending money or living life liberally has been awesome. Obviously, like most who served during the GWOT, there were some not-so-fun times in there too.

 

[ArmyRN]

Retired Army after 34 years (LTC) with 90% disability. Smart wife insisted we invest into TSP early. Currently working part time for Jeep parts, camping gear and ammo. No debts except mortgage (put two kids through college thanks to Running Start and post 911 GI Bill but still had to write checks). Have a money manager (Edward Jones) so still investing. Waiting before starting pulling SS to get max amount.

 

[sherpaJL]

 

[ArmyRN]

Retired Army after 34 years (LTC) with 90% disability. Smart wife insisted we invest into TSP early. Currently working part time for Jeep parts, camping gear and ammo. No debts except mortgage (put two kids through college thanks to Running Start and post 911 GI Bill but still had to write checks). Have a money manager (Edward Jones) so still investing. Waiting before starting pulling SS to get max amount.

Replying to myself. Is that weird?

Anyways, I forgot to mention a major player in my retirement saga... following Dave Ramsey's Financial Peace program! When my wife and I got married 25 years ago, I had about $16,000 in CC debt (thanks to my ex-wife) and a truck payment, and my new single-mom wife had a huge student loan debt (at least double or triple my CC debt). It took us years to climb out of debt, but following Dave Ramsey's plan paid off.

 

[Stretch44875]

I've got 520 days left, but who's counting?
I'll have 30 yrs at GM, pension and 401k.
50 years old, can't pull from 401k till 59.5.
Wife is a realtor that does decent.
Biggest thing that kick started us was buying a rental, then selling it 8 years later for almost double. That paid off house and car, since then we've been debt free and building a large savings to cover gap from retirement till 401k. Pension I'll get right away, and wife is still going to work some. I'll probably make some money, I can fix or build just about anything. Most important thing is we will have Healthcare.

 

[Flip]

Today July 1st, 2024 my first official day of retirement.

 

[dragoneggs]

Today July 1st, 2024 my first official day of retirement.

Congrats John… jealous. I’m think I’m about 2.5yrs (maybe a few months less) away but I am ready NOW!

 

[Radioman]

Today July 1st, 2024 my first official day of retirement.

Congrats. Retirement is something I highly recommend.

 

[Sierra Hotel]

I enlisted in 1975, got out in '82 and went to college on the GI Bill. Wife came on active duty when I got out, so I was a DH thru college. Army National Guard 1 year in college, got commissioned in '85. I retired in '98, she retired in '99. I went to work in international sales in the power generation industry, retired in 2020 with a pension from one of my employers (GE), SS, and a VA disability rating of 80%. My wife had her own company after she retired with an SEP. We were blessed, between our military retirements (two O-4's), our SS, civilian pension, 401-K, SEP, and VA disability, we don't have to worry about pretty much anything.

 

[BigGame]

Have hobbies - they matter when you retire

 

[Flip]

Have hobbies - they matter when you retire

I'm already thinking I may want a simple part-time job with no responsibility whatsoever.

 

[4xFUN]

I doubt I will ever 'retire'...I love what I do and love the lifestyle it now affords me!
I also vividly remember the early years of starting my company: Sold everything of value, rented a room in someones house and for nearly 10 years did not spend a thin dime that did not go back into the business. Many, many times I took no paycheck but our employees ALWAYS got paid in full and on time! Now...life is good!

 

[dragoneggs]

Congrats. Retirement is something I highly recommend.

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[dragoneggs]

That is so true!!! I went back to work 3 days later after my first time I tried to retire in 2013, the second and 3rd times, I made it about 6 months before I started going crazy. I am on #4 now, and so far I've managed to make it a little over 2 years.....but I am bored stiff and still trying to figure out what to do to keep myself occupied. Thank goodness for my two yellow labs that always want to chase the Frisbee.

That won’t be a problem. I have many dormant hobbies. The issue will be funding them not finding them.

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