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re: What to do with military retirement pay?
Posted on 8/1/22 at 10:52 pm to natsoundup
Posted on 8/1/22 at 10:52 pm to natsoundup
I call it BAH for life; pretend like it doesn't exist, it simply passes through my account from the Navy / VA to mortgage co.
I did the math when I refi'd my home back in January. Got a Jumbo loan, took cash out and got a mortgage that is almost exactly what my E-8 / 24 yrs and 80% disability check amount to.
I have a job that basically continues to put my last active duty: STSCS/SS, at sea, collecting sub pay paycheck in the bank......while at the same time covering my 401k Roth + catch up funds (27K) and ROTH IRA (7K).
I did the math when I refi'd my home back in January. Got a Jumbo loan, took cash out and got a mortgage that is almost exactly what my E-8 / 24 yrs and 80% disability check amount to.
I have a job that basically continues to put my last active duty: STSCS/SS, at sea, collecting sub pay paycheck in the bank......while at the same time covering my 401k Roth + catch up funds (27K) and ROTH IRA (7K).
1
Posted on 8/2/22 at 11:23 am to oneg8rh8r
quote:
I call it BAH for life; pretend like it doesn't exist, it simply passes through my account from the Navy / VA to mortgage co.
I did the math when I refi'd my home back in January. Got a Jumbo loan, took cash out and got a mortgage that is almost exactly what my E-8 / 24 yrs and 80% disability check amount to
I don't know what my VA disability rating will be, but I'm putting that towards the mortgage. My guess is between 80-90% rating.
But I won't put any of my military retirement towards it because I want that to be strictly investments/savings. Between the disability and the new job, that will be more than enough to live comfortably and then some. Not gloating at all, just making sure to live within my means.
Posted on 8/2/22 at 5:42 pm to thunderbird1100
quote:
20(+) years in the military is always a big sacrifice that shouldn't go unnoticed.
That all depends, plenty of folks have milked the taxpayers for 20+ years riding it out in the rear with the gear bitching and milking the whole way.
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