I heard that after 20 years of service you could retire…
Any source for this information?
I can’t go to college because I can’t afford it an I would love to join the military to also fight for my country… But, I also want my financial situation to get better.
Thank you in advance.
So you just keep signing up and reenlisting to fight or serve/be active and after 20 years you have the choice to retire?
You heard correctly. Retirement pay at twenty years is fifty percent of their base pay at the time of retirement as well as retaining medical benefits and commissary/exchange privileges.
Basically at the end of each contract your make the choice to reenlist or separate. Separating voluntarily when the contract is up offers no continuation of benefits but you’d still be eligible for certain VA programs and the GI Bill. Once you hit 20 years, you no longer separate, but retire with benefits. Service beyond 20 years will result in a higher percentage used to calculate ones retirement pay.
It’s important to note, twenty years means twenty years. Nineteen years, eleven months, and twenty-nine days would be an ETS, not a retirement.
If you joined at 18, retired at 38, you’d be in a position to start a whole new career and be collecting two pensions by age 60.
There was also talk about allowing soldiers to retire at 10 years with a lower percentage and the condition that they wouldn’t receive it until they’re sixty. I’m not sure what happened with that, but I figured I’d mention it anyway.
Why do retiring Europeans tend to move to countries with less taxes?
Search the best countries to live:
{ 9 comments… read them below or add one }
that’s true my dad get a check for retiring from the Air Force and he gets a disability check also from it
References :
Yes you can. I know many retired service members who are doing quite well.
References :
Uh, yeah, it’s called a PENSION.
References :
Yes you can, if you retire honorably. For the first 10 years it’s a retainer. The military can recall you to active duty for any reason within those 10 years. After the 10 years it is a pension. Also at anytime you honorably separate from the military you apply for VA disability. If you are rated at a compensatable amount you will receive disability. If you are rated over 22% disabled by the VA you are eligible for Occupational retraining at no cost to you. As for college, I worked for it and got my Associates and Bachelor degree while active duty. I used Tuition Assistance which now pays 100% for tuition and lab fees. I also used by G.I. Bill to cover the amount that Tuition Assistance didn’t cover.
References :
You heard correctly. Retirement pay at twenty years is fifty percent of their base pay at the time of retirement as well as retaining medical benefits and commissary/exchange privileges.
Basically at the end of each contract your make the choice to reenlist or separate. Separating voluntarily when the contract is up offers no continuation of benefits but you’d still be eligible for certain VA programs and the GI Bill. Once you hit 20 years, you no longer separate, but retire with benefits. Service beyond 20 years will result in a higher percentage used to calculate ones retirement pay.
It’s important to note, twenty years means twenty years. Nineteen years, eleven months, and twenty-nine days would be an ETS, not a retirement.
If you joined at 18, retired at 38, you’d be in a position to start a whole new career and be collecting two pensions by age 60.
There was also talk about allowing soldiers to retire at 10 years with a lower percentage and the condition that they wouldn’t receive it until they’re sixty. I’m not sure what happened with that, but I figured I’d mention it anyway.
References :
its called a pension
References :
20 years of day for day service, nothing less will earn a retirement check plus medical benefits for life. At anytime past 20 years you can request retirement.
I joined the USN at 17 and retired at age 40 in 2001 and moved to a tropical island in the Philippines.
References :
http://www.military.com/benefits/military-pay/retired-pay/military-retired-pay-overview
I am retired USN living in the Philippines.
Partly true I retired after 22 1/2 years of active duty service I get a part of a retirement pay check.. the reason why is that I am 40% disabled, So in all the great wisdom is that the VA takes that 40% out of my paycheck that I am suppose to be getting for retirement and they are nice enough to give it back to me as a disability check BUT they took it from my pay/retirement check SO I am paying for my own disability!!!! The NAVY was the one that screwed me up for the rest of my life!!!! And I am still getting SCREWED by the NAVY that I have put most of my adult life into….
The military is simply great!!! Yes, you can retire after 20 years of honorable service, but if you’re in the Army, or Marines, there’s a risky business involved called combat. War is hell. Therefore, I would never advise anyone to serve in the Army, or Marines, unless you’re tough both physically and mentally. If not, join the Coast Guard, Air Force, or navy.