When you talk about retirement, you’re talking about living without working for possibly 20 years or more, and it takes considerable financial resources to fund a comfortable lifestyle over this length of time. Developing a cogent and viable long-term strategy is key.
Individuals who have served in the military for at least 20 years are eligible to receive a retirement pension. Because many people who join the service usually do so at a very young age, it is possible to serve these 20 years and retire from the military when you are still capable of embarking on a long-term career as a civilian.
In a civilian career, you could then participate in a 401(k) plan at work while saving your monthly pension benefits. By the time you reach the age of Social Security eligibility, these savings should be considerable. And of course your Social Security check would be coming in along with your pension benefits, so your consistent ongoing income stream would be solid as well.
If you are someone who has served his or her country, you deserve a significant reward for your sacrifice. If you are interested in developing a long-term estate and retirement plan with the above possibilities in mind, don’t hesitate to pick up the phone to arrange for a consultation with an experienced Campbell, California estate planning attorney.
Latest posts by Litherland, Kennedy & Associates, APC, Attorneys at Law (see all)
- Litherland, Kennedy & Associates Law Firm Team Joins 2019 Walk to End Alzheimer’s - August 19, 2019
- American Academy Awards Fellow Designation to Justin M. Kennedy – Kennedy Recognized for Outstanding Achievement in Experience and Service - August 16, 2019
- Clarity is Key to Planning - August 14, 2019