At Active Lifestyle Media, we understand how difficult retiring can be, especially military retirement. In addition, we know that it can be worse for our military men and women. This is because they’re retiring into a different life than they’ve lived for many years. Moving from active combat into civilian life is thus challenging. About 200,000 military members move to civilian life annually.
When they leave the military, they’re leaving behind an identity they’ve borne for years. Therefore, the general retirement tips available wouldn’t work for military retirees. Instead, they’ll need retirement guides crafted for their unique needs. This is all we’re about at Active Lifestyle Media. Our resources can help military retirees ease into civilian life easily.
5 Tips for Coping With Military Retirement
Below, we explain five things you can do to aid your retirement process.
Have a Reliable Savings Plan
Saving is a significant part of retirement planning. This requirement isn’t less crucial for military veterans. Instead, military retirees need all the unencumbered funds they can get. That’s why it’ll be best to start saving for your military retirement early. Sadly, though, many veterans don’t consider their finances until they retire.
Suppose you have a five-year savings record upon retirement. Easing back into civilian life would be less stressful than if you had nothing. Your savings also allow you a wide range of options. For example, you may take your time searching for a new job. This is because you can last on your savings before landing your dream civilian gig.
Plan Your Next Job
Veteran unemployment is a significant issue in the US. After years of serving their country, veterans often find it hard to land civilian jobs. This is because of several factors, including cultural differences. Furthermore, there’s a wide skill difference between military roles and conventional civilian jobs.
The possibility of unemployment means that it’ll help to start job hunting early. You mustn’t wait until you retire. Instead, you can start increasing your employment prospects early. For instance, you can learn new skills. If you have a college degree, dusting it will also be a great option. Whatever the case, ensure that you have more than your military record to show employers.
Consider Your Health
Active combat often leaves military personnel with various health complications. These battle scars could be physical or psychological. For example, a significant percentage of service members suffer PTSD upon retirement. Fortunately, the US Veteran Affairs has provisions for veterans with PTSD.
Once you link your PTSD to an in-service stressor, you can get compensation. So, it’ll be best to explore this option. Of course, this is if you have PTSD upon retirement. Physical injuries such as traumatic brain injuries also affect many US service members.
All these mean that you must plan for your health during military retirement. If you can, take advantage of all health benefits for veterans. Furthermore, ensure you have health insurance for any other injuries. A new job can also improve your health insurance.
Take Advantage of the GI Bill
Do you have educational plans after military service? Then, the Montgomery GI Bill may be the answer to your financial fears. Since 1994, the GI has provided schooling or training costs for veterans. These benefits could be full or partial and may even apply to your family members.
In addition, there are the Post 9/11 GI Bill benefits. These advantages are for military personnel who engaged in active duty after September 10, 2001. Notably, GI benefits can cover the costs of books, tuition, and housing. In addition, you can explore foreign programs. Undergraduate and graduate degrees can also become possible because of GI benefits.
Keep Up With Former Military Colleagues
Retiring from the military doesn’t mean you have to give up your military relationships. Instead, retirement may be the best time to hold onto these relationships. This is because your former colleagues have been your best companions for years.
So, they’re your family and source of emotional support. Consequently, an absolute and immediate detachment would be disastrous emotionally. Maintaining the relationships, rather, can help your military transition. If possible, you can also reach out to older veterans.
Learn All You Can About the Military Transition Process
Leaving the military is a formal process. You can’t just up and leave as you can for other jobs. So, it’ll be best to research and master all the stages of military retirement. For example, you must know the relevant transitory documents. Learning about your veteran benefits and resources is also crucial.
Finally, it would help if you acquainted yourself with your new taxation realities. With the right information, military retirement wouldn’t be too challenging. For further retirement coping tips, you can exploit Active Lifestyle Media’s resources.