KateHorrell

Helping Military Families Make The Most of Their Money

Life Insurance After Military Service


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Military service members have simple, affordable life insurance coverage through the Servicemembers Group Life Insurance program, usually called SGLI. Military spouses may be covered through Family SGLI, or FSGLI. But this coverage ends at, or shortly after, military retirement. Many families still need life insurance protection during the next stage of their life. There are… | Read More…

Your Military Retirement Move


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Your military retirement move can be a big step in the transition to civilian life. Retiring military members are authorized a move from their last duty station to a home of selection. This includes the movement of household goods and the transportation of eligible family members. This post is part of The Comprehensive Military Retirement… | Read More…

Internship and Fellowship Programs for Retiring and Separating Service Members


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There are several major programs that support internships for active duty military members who are preparing to retire or separate from the military. All these programs provide real-world non-military experience to help transitioning service members be better prepared to seek work after the military. Military members receive their military pay and benefits while in these… | Read More…

Retirees on Tricare Select: Set Up Your Payment Plans for 2021


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Hey, my retiree friends, go set up your Tricare Select enrollment fee payment plans now. Right now. Seriously. Starting in 2021, retirees under age 65 who are using Tricare Select and are in Group A (the sponsor entered the military before 1 January 2018) will be required to pay an enrollment fee in the amount… | Read More…

Your Three Military Retirement Budgets


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As y’all know, I am passionate about people being financially prepared to leave the military. In my little perfect dream world, every single military service member would step into the civilian world with a plan, a budget to support that plan, and a bulky transition fund to support that budget. This post is part of The… | Read More…

2021 TSP and IRA Contribution Limits


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The IRS has announced the 2021 contribution limits for tax-advantaged retirement plans – there’s not a lot of change from 2020. Don’t forget that you can contribute to both a 401(k)/TSP type employer-sponsored plan and an Individual Retirement Arrangement (IRA), and that non-working spouses can have IRAs, too. 2021 Limits for Employer-Sponsored Plans like 401(k)s… | Read More…

Catch-Up TSP Contributions Are Changing – And It’s Good


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If you’re age 50 or over, you are eligible to contribute an additional amount to your Thrift Savings Plan account each year. Even better, the way that these special catch-up contributions work is changing for 2021. Not only can you contribute more, but it’ll be easier. Win-win. What’s A Catch-Up Contribution? There are limits on… | Read More…

Should You Continue Serving To Earn A Military Retirement? The Golden Albatross Might Help You Decide


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Every military member, no matter how enthusiastic, wakes up one day (or comes out of a frustrating meeting) and asks themselves, “How much longer do I want to do this?” Invariably, this question is complicated by the cliff vesting nature of the military retirement pay system. Get out before 20 years of service, and you… | Read More…

Retiree Tricare Select Costs to Increase in 2021


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The Defense Health Agency has announced the implementation of Congressionally-directed changes to the way that many military retirees, and their families, will pay for their coverage under the Tricare Select program. Effective 1 January 2021, military retirees and families will pay an enrollment fee, similar to a monthly premium, for Tricare Select, if they fall… | Read More…

Income Taxes After Military Retirement: Don’t Get Stuck With A Huge Bill


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There’s a rumor floating around that somehow your taxes are going to zoom up after you retire from the military. As with many rumors, there is a bit of truth in it, but there’s also just a lot of confusion. It is true that some military families end up with large tax bills in their… | Read More…

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Disclaimer

Kate does not represent the Department of Defense, the Department of Veterans Affairs, or any government agency. This blog is strictly for informational and entertainment purposes only. The content on this site should not be considered professional financial or legal advice. I may receive compensation through affiliate or advertising relationships from products mentioned on this site. All reviews on this site represent the personal opinions of the author. All references to third party products, rates, and offers may change without notice.