Long-Term Financial Planning for Military Veterans
When you serve in the military you have a unique opportunity to feather your nest for the future while
you serve your country in the present.
People who serve in the Armed Forces become eligible to receive a military retirement pension once
they serve for two decades.
Typically someone who enlists in the service will do so at a very young adult. So, after this 20 years
passes you may be in your late 30s or early 40s. You could potentially spend 25 years or so working a
job in the private sector while you are receiving a military pension.
Someone in this position would presumably be able to save the pension while living on his or her
earnings. Once such a veteran reached the age of full Social Security eligibility he or she would have
two sources of income as well as a significant store of savings.
Another alternative would be to forgo a civilian career and spend your entire working life in the
military. The amount of your pension benefit varies depending on how long you were in the service. If
you are in for at least 40 years your benefit is equal to the entirety of the pay that you were receiving
when you were on active duty.
The military retirement pension is not the only benefit afforded to veterans. If you are a veteran or
active duty service person you would do well to discuss all of your opportunities in detail with a
licensed and experienced Reno financial planning lawyer.
Experienced estate planning attorneys Reno NV of the Anderson Dorn & Rader Ltd offers estate
planning and business planning resources to residents of Reno NV. To learn more about these free
resources, please visit www.wealth-counselors.com/ today.