I am 40 years old and am a single, military father. My kids are 9 and 7. I signed over my Post-911 GI bill benefits to my children so they should be mostly fine there.
My monthly living expenses are roughly $2,500, including $300 a month for a newly installed solar roof, which will be satisfied before my retirement. I do not have any car notes. Property taxes and insurance run roughly $8,000 a year between the two properties. It looks like you’re already well on your way to being comfortable in retirement, what with your rental income, retirement assets and savings. Still, there’s always room for improvement — here’s what the financial advisers said.
Sheldon wanted to make one quick note about your thrift savings plan, though it may or may not apply to you: if you were contributing to that account while deployed to a combat zone, there’s a possibility a portion of your balance may be tax-exempt. That money is not coded as pre-tax or Roth — it’s specifically known as “tax-exempt” — which means it would be difficult to roll over into another account.
As for your benefits, begin documenting any health concerns and issues you have before you separate, Reese said. “He should really go now and start documenting all lingering medical issues so his record is accurate,” he said. Veteran service organizations, such as the Veterans of Foreign Wars and the American Legion, can help walk you through your disability claims and provide advice.
Personal financial planning would be required to assist you to achieve your objectives at such age through investments, that require risk management in areas related with them ongoing to future- realities and expectations are different.
Your expectation of retirement at such age WOULD HAVE TO START FROM WHAT AT SUCH TIME. Current time and in facts can be as such at such age are totally different issues.
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