If you’re in the military, you’ve probably heard about the Thrift Savings Plan (TSP). Heck, you may even contribute to it. But what is it, how does it work, and why should you contribute? TSP is the government’s user contribution retirement savings program, similar to a private employer’s 401(k) account. Military members and government civilians… | Read More…
The Basics of Military Retirement Plans
Military retirement has always been a misunderstood topic, but the introduction of the Blended Retirement System (BRS) has increased the confusion. A lot. It’s been in effect for 5 years now, and I still hear people conveying flat-out wrong information about it. This helps no one. First, let’s start with the basics of all retirement… | Read More…
How To (Maybe) Fix A Blended Retirement System Opt-In Mistake
You may remember that last January, there was a flurry of concern about folks who had accidentally opted-in to the military’s new Blended Retirement System (BRS) when they were just trying to check their Leave and Earnings Statement (LES). While that particular problem seemed to have decreased as the year went on, there were other… | Read More…
The Blended Retirement System Decision: Part Math, and Part Life
Well, it’s 11 December – military service members eligible to choose between the old, legacy retirement system and the new, Blended Retirement System (BRS) have just under three more weeks to make their decision. With so much information out there, and with so many opinions, how do you make a smart choice? It is important… | Read More…
Blended Retirement System: How To Choose Between The Military’s Retirement Systems
This post was sponsored by USAA as part of the military personal finance bloggers #BRSBlitz education campaign. As 2018 comes to a close, there is a lot of stuff going on. We’re preparing for various holidays, some people are moving, and there is a general last minute rush to get things done before the end… | Read More…