What was the number one thing you did financially to prepare you for retirement?

Cpl Private RallyPoint Member — Tue, 27 Dec 2016 14:51:43 -0500

What was the best thing you did to be financially stable in Retirement? Is there anything you would have done differently? How many of you retired completely after leaving the Military?

Response by CPT Joseph K Murdock made Dec 27 at 2016 2:58 PM

CPT Joseph K Murdock — Tue, 27 Dec 2016 14:58:41 -0500

I would pay off the mortgage early.

Response by SFC Dennis A. made Dec 27 at 2016 3:03 PM

SFC Dennis A. — Tue, 27 Dec 2016 15:03:08 -0500

One of the best thing that I did was to invest 20 years in the Army. That gave me my medical and a little money. As for the rest of it I'm still working on it.

Response by MSG Private RallyPoint Member made Dec 27 at 2016 3:15 PM

MSG Private RallyPoint Member — Tue, 27 Dec 2016 15:15:41 -0500

The #1 thing I did to prep for retirement? I married my wife who works for an accounting firm. She put her foot to my six to get me to get a retirement plan ready

Response by MSG Brad Sand made Dec 27 at 2016 3:57 PM

MSG Brad Sand — Tue, 27 Dec 2016 15:57:44 -0500

Stay in until I could retire. While I was in, I also put a percentage into the Thrift Savings Plan...but this will be something for later.

Response by Sgt Private RallyPoint Member made Dec 27 at 2016 4:38 PM

Sgt Private RallyPoint Member — Tue, 27 Dec 2016 16:38:33 -0500

Live beneath my means and invest wisely.

Response by SSgt Boyd Herrst made Dec 27 at 2016 4:48 PM

SSgt Boyd Herrst — Tue, 27 Dec 2016 16:48:00 -0500

Stay away from snake oil salesmen, speculators..

Response by Cpl Joshua Caldwell made Dec 27 at 2016 5:54 PM

Cpl Joshua Caldwell — Tue, 27 Dec 2016 17:54:44 -0500

Paid off my house and created a stream of passive income with real estate.

Response by SFC George Smith made Dec 27 at 2016 6:01 PM

SFC George Smith — Tue, 27 Dec 2016 18:01:18 -0500

doe's not matter now the Last 2 ex-Wives cleaned out the accounts...

Response by SFC Private RallyPoint Member made Dec 27 at 2016 6:10 PM

SFC Private RallyPoint Member — Tue, 27 Dec 2016 18:10:41 -0500

Cashed out every last account I had went to Casino and put it on red on the Roulette table.

Next time you go thru a McDonalds drive thru think of me...

Response by SSgt Private RallyPoint Member made Dec 27 at 2016 6:22 PM

SSgt Private RallyPoint Member — Tue, 27 Dec 2016 18:22:11 -0500

Created a passive revenue stream. Yes, it took WORK to put it together. Once together, it pays and pays and pays...

Response by SFC Michael Jackson, MBA made Dec 27 at 2016 7:58 PM

SFC Michael Jackson, MBA — Tue, 27 Dec 2016 19:58:20 -0500

Unfortunately, I didn't prepare and retiring was scary. What I would do differently are the things I do now, but much sooner. Have at least a six month emergency fund, invest 20% of my check in TSP or IRA, and live within my means.

Response by LTC Jason Mackay made Dec 27 at 2016 9:11 PM

LTC Jason Mackay — Tue, 27 Dec 2016 21:11:53 -0500

Paid off debts, credit cards, cars etc in the two years leading up to terminal leave. Saved a few months of AD pay in case DFAS monkey pumped me on the way out. We had no car payments. All we had was reoccurring stuff like groceries, utilities, mortgage, car insurance etc.

I was job hunting and interviewing 6 months out from my terminal leave start date, with the intent of taking 2-4 weeks off before I started working again. I got 12 days and the opportunity in what I do now.

I did not fully realize how much retiring would hurt my house hunting plans. Buy a year out before you have retirement orders if you know where you will retire....if you are confident you can live off retirement with no job. Some people go a full year with no luck.

Response by SFC William H. made Dec 27 at 2016 10:58 PM

SFC William H. — Tue, 27 Dec 2016 22:58:19 -0500

I paid off my home before I retired . I have not worked since retiring, but my standard of living has not increased though. given the opportunity again, I would have went back to work. Explore new career field before you retire.

Response by SPC(P) Private RallyPoint Member made Dec 28 at 2016 11:57 AM

SPC(P) Private RallyPoint Member — Wed, 28 Dec 2016 11:57:17 -0500

Start investing the day I joined

Response by Capt Tom Brown made Dec 29 at 2016 6:54 AM

Capt Tom Brown — Thu, 29 Dec 2016 06:54:38 -0500

Saved and built up enough to provide steady guaranteed income in later years. Safety of investment was primary objective over more risky ventures which would potentially offer a higher yield. After retirement Also find a 2d career if you retire 'young' ie 40-45 from the military. You still have enough time left to fully engage in a 2d career which will enable a person, even more, opportunity to build up savings and investment.

Response by SPC Douglas Bolton made Dec 29 at 2016 3:58 PM

SPC Douglas Bolton — Thu, 29 Dec 2016 15:58:35 -0500

Rob a bank... Actually I invested when young into mutual funds. They grew until retirement. Living off of them now.