"Post Retirement Expenses"

[texasgungal]

@goldenkitsune Great points and I hope the recovery is smooth for you both.

 

[goldenkitsune]

@texasgungal Thanks!

 

[texasgungal]

@ms92help Thank you. Do you know where I could find this without asking a retiree to show me their les?

That's great information.

 

[kitty346]

@texasgungal https://newsroom.tricare.mil/News/T...211342/preview-2023-tricare-health-plan-costs

You’d look at tables 2 and 4, group A. The 2024 numbers should be out soon.

 

[texasgungal]

@kitty346 You once again humble me with your presence, king.

Thanks. This is so much more logical to read than tricare.mil/costs which is the site they push in TAPs.

So much conventional wisdom is saving money and setting yourself up in service... Asking questions in this last window is such a whirlwind!

 

[prometheanactual]

@texasgungal Don't forget to budget for any expenses that are currently waived due to your Active Duty status. Vehicle registration/tax, Amex Platinum fee, etc.

 

[texasgungal]

@prometheanactual Oh dang that's a great point. Finding and valuing service in another way, dang I need another tab on my spreadsheet!

 

[literider]

@texasgungal Life insurance. You lose your SGLI once you separate. They have a VGLI. I didn't go with them because they were a little more involved. Ended up going with a policy through my credit union.

 

[texasgungal]

@literider Boom! Thank you!!! Great note. I do enjoy the other comments here and they will certainly lead to more research on my behalf, but this is exactly what I want for this project. Thank you.

 

[bridgettesamerica]

@texasgungal I'm retired but not "military retired". I only did 5 years but...

No real such thing as vision and dental insurance. It's more of a discount plan. You're at an age where you know if you have dental issues. I self pay dental. Even with 2x cleaning annually and a cracked tooth ($800) I'm way way ahead vs paying for a dental discount plan. If you're set with paying for dental, I suggest you look at the Max annual they will pay cause it's not near as high as you think.

I have a VA rating and vision is covered. Wife is self pay and again, way way ahead vs a vision plan. 1 visit a year and we just buy her glasses online.

Just call local dentists and ask what their cash price is for a typical cleaning/xray. Same with vision.

Term insurance only. Anything else is a bad financial move.

Look at a massive term life instead of SBP. Price a SPIA to replace the loss of the pension when you die and talk it over with your spouse to decide which way to go.

In the least, get a term to buy a SPIA to replace the amount of your future VA rating. Unless you die from the rating that money 100% disappears and your spouse loses it. That's what I did, bought a term policy in an amount that a SPIA would replace it.

 

[texasgungal]

@bridgettesamerica Great points and some things to take for research! I've got some things to Google tomorrow with a cup of coffee.

 

[goldenkitsune]

@texasgungal I'm sure you've heard this your entire career - start working on your medical NOW! Every ailment, have it documented. Every medical issue, have it treated. Six months from retirement, you can start the BDD (Benefits Delivery at Discharge) process with the VA. Seven months from retirement, go to the MTF and request an electronic copy of your medical records. At six months, get to a VSO, provide them your medical records, and they will work with you in filing your claim for medical compensation. You will have a 90 day window to get the BDD submitted. The VA's goal is to begin compensation within a month or so when you retire.

I was in for over 28 years and didn't realize I had severe sleep apnea and required a CPAP. I also had a plethora of other medical issues that I didn't have when I joined that affect me daily and didn't know it because I didn't focus on me.