Commentary

May 16, 2014

Dollars and Sense

Leaving the military for civilian life can sometimes deal a financial blow to the unprepared. If you’ve contributed to the Thrift Savings Plan, cashing out early – before age 59 1/2 – won’t just rob you of the money you’ll need for retirement. You will also have to pay taxes on the withdrawals, and typically have to hand over a 10 percent penalty.

Planning ahead is essential to ensure financial health during retirement. Chances are you’ll need to keep building your savings to ensure a comfortable retirement. So, before you fall out of the habit, start contributing to your new civilian retirement plan. It’s important to keep your retirement savings momentum. However, if you reach a point where you may have to withdraw funds from your retirement savings accounts, seek proper counsel. Before you decide to make a withdrawal from TSP, get advice from a financial professional, visit the TSP website at www.TSP.gov, and consider the pros and cons.

Coyote quote: “Experiences are savings which a miser puts aside. Wisdom is an inheritance which a wastrel cannot exhaust.” – Karl Kraus




All of this week's top headlines to your email every Friday.


 
 

 

The gift of leadership

Gen. Mark Welsh III may have said it best, “Leadership is a gift. It’s given by those who follow. You have to be worthy of it.” As the people of this nation give their children up to serve in the armed forces we as leaders need to be ready to lead them as they are...
 
 

Have faith in Air Force system

Throughout our Air Force careers, we have all received extensive training covering the Air Force core values — integrity first, service before self and excellence in all we do. We talk about them on a daily basis in one capacity or another using them as buzz words to drive our point home or steer a...
 
 

Chaplain’s thoughts …

Mercy and a Romanian MP Last year while deployed to a NATO base in Afghanistan, a Romanian military police officer stopped my chaplain assistant and me for passing a bus that had pulled off the road. He came to the window and said, “You can’t overtake bus. ID and vehicle papers, please.” Since I was...
 

 
FO_Dark_Souls_II_cover

Fly Over: ‘R.I.P.D.’ and ‘Dark Souls II’

On Netflix ‘R.I.P.D.’ R.I.P.D. stars Ryan Reynolds (Det. Sgt. Nick Walker), Kevin Bacon (Det. Lt. Bobby Hayes), Jeff Bridges (Roycephus “Roy” Pulsipher), Stephanie Szostak (Julia) and Mary-Louise Parker (R.I.P.D. Chief ...
 
 

Planning for your future equals success

“If you can imagine it, you can achieve it. If you can dream it, you can become it.” ~ William Arthur Ward Success does not happen accidentally, it takes detailed planning and a vision of the future. I remember the day before I left for basic military training, I tried to imagine what my future...
 
 

Tuition assistance — a great benefit

In my opinion, tuition assistance is one of the best benefits that we as active-duty military members have available. During my 17 years in the Air Force, I have seen this benefit increase from 75 percent of tuition being paid to 100 percent. Additionally, most of us experienced this benefit being eliminated for a short...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


Directory powered by Business Directory Plugin