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Discussion Starter · #1 ·
Just finished speaking with the nice lady working on my retirement package

total time 20 years 9 months = 11 years 7 months active and the balance in the National Guard

have 4847 points which as an E5 will net me roughly $1,248 a month. Minus about $100 to make sure my spouse gets 55% of my retirement if I die....
 

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Do some math,

$100 a month is $1200 a year to insure your wife gets $750 ish a month if you pass? How old might you be, how’s your health and what was it like for your folks and their parents? These are often decisions regarding social security and taking it at 63 vs 70. $1200 a year in a ROTH account for ten years or so might well provide her a similar return? It’s just worth the q and a, a spreadsheet and reasoned expectations? Also is this pre tax or after tax, does it impact social security and what other sources do you have? Lots of work that retirement thing but it’s worth it to figure out and do right.
 

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Discussion Starter · #3 ·
Do some math,

$100 a month is $1200 a year to insure your wife gets $750 ish a month if you pass? How old might you be, how’s your health and what was it like for your folks and their parents? These are often decisions regarding social security and taking it at 63 vs 70. $1200 a year in a ROTH account for ten years or so might well provide her a similar return? It’s just worth the q and a, a spreadsheet and reasoned expectations? Also is this pre tax or after tax, does it impact social security and what other sources do you have? Lots of work that retirement thing but it’s worth it to figure out and do right.
I have a life insurance policy for $250,000 that goes until The last kid reaches 21
the wife is 10 years younger then me and I am turning 60 in august.. I am in good shape but heavy
I thought about just adding more life insurance. but the money she will get will also go up with cola (cost of living allowance) and she can never run out of it
she would also get my social security benefit for her and the kids
Social security is NOT effected by mil retirement
 

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$9,000 a year using the 4% rule requires $225,000 in equity. That’s your life insurance so it’s a good match. I figured a reasoned rate of return on $1200 a year saved in a ROTH in your wife’s name for ten years to be a good benefit for not giving up a share of the pension / defined benefit, But even with modest market gains it won’t equal that, but 15 years it might. Again depending on the returns and all that depends on you continuing to get the compensation. Good luck and thanks for serving!
 
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