The Military Wallet » Retirement http://themilitarywallet.com Personal finance for military, veterans, and their families Tue, 15 May 2012 04:36:47 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Proposed Changes to Military Retirement Benefits http://themilitarywallet.com/changes-to-military-retirement-plan-benefits/ http://themilitarywallet.com/changes-to-military-retirement-plan-benefits/#comments Mon, 19 Sep 2011 10:57:14 +0000 Ryan Guina http://themilitarywallet.com/?p=1422

This article was originally published on The Military Wallet at Proposed Changes to Military Retirement Benefits and is protected by US copyright laws.

The military retirement system is one of the most loved - and valuable - benefits available to military members. It is unique in many ways, and one of the few retirement plans in the US which starts paying beneficiaries immediately upon retirement without a standard waiting period or age limit. Unfortunately, it is also a [...]


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]]> This article was originally published on The Military Wallet at Proposed Changes to Military Retirement Benefits and is protected by US copyright laws.

The military retirement system is one of the most loved - and valuable - benefits available to military members. It is unique in many ways, and one of the few retirement plans in the US which starts paying beneficiaries immediately upon retirement without a standard waiting period or age limit. Unfortunately, it is also a target by cost-conscious members of the government who are looking for ways to decrease the military ...

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]]> http://themilitarywallet.com/changes-to-military-retirement-plan-benefits/feed/ 39 Planning for Retirement from the Military http://themilitarywallet.com/military-retirement-planning/ http://themilitarywallet.com/military-retirement-planning/#comments Thu, 30 Jun 2011 19:32:20 +0000 Ryan Guina http://themilitarywallet.com/?p=1089

This article was originally published on The Military Wallet at Planning for Retirement from the Military and is protected by US copyright laws.

Planning for retirement can be difficult, whether you are retiring from a military position,civilian position, or a combination of both. However, career military members may have an added benefit most civilian sector employees do not - the opportunity for two retirements: one from the military and one from the civilian workforce. This dual retirement option [...]


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]]> This article was originally published on The Military Wallet at Planning for Retirement from the Military and is protected by US copyright laws.

Planning for retirement can be difficult, whether you are retiring from a military position,civilian position, or a combination of both. However, career military members may have an added benefit most civilian sector employees do not - the opportunity for two retirements: one from the military and one from the civilian workforce. This dual retirement option provides veterans with a unique situation when determining how to save for retirement. The following ...

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  3. Is Military Retirement Pay Enough to Retire On?


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]]> http://themilitarywallet.com/military-retirement-planning/feed/ 1 Traditional and Roth IRA Contribution Limits http://themilitarywallet.com/traditional-and-roth-ira-contribution-limits/ http://themilitarywallet.com/traditional-and-roth-ira-contribution-limits/#comments Thu, 17 Mar 2011 16:05:47 +0000 Ryan Guina http://themilitarywallet.com/?p=825

This article was originally published on The Military Wallet at Traditional and Roth IRA Contribution Limits and is protected by US copyright laws.

Tax season is a great reminder to make retirement account contributions if you don't do it throughout the year. The good news is that tax laws are written so that you can make contributions for the previous tax year until the tax filing deadline. Even though the calendar year may be over and done with, [...]


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]]> This article was originally published on The Military Wallet at Traditional and Roth IRA Contribution Limits and is protected by US copyright laws.

Tax season is a great reminder to make retirement account contributions if you don't do it throughout the year. The good news is that tax laws are written so that you can make contributions for the previous tax year until the tax filing deadline. Even though the calendar year may be over and done with, you can still contribute to your IRA until the tax deadline, which is April 15, ...

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]]> http://themilitarywallet.com/traditional-and-roth-ira-contribution-limits/feed/ 0 What Happens If You Contribute Too Much to an IRA? http://themilitarywallet.com/contribute-too-much-to-an-ira/ http://themilitarywallet.com/contribute-too-much-to-an-ira/#comments Wed, 16 Mar 2011 20:24:57 +0000 Laura Adams http://themilitarywallet.com/?p=814

This article was originally published on The Military Wallet at What Happens If You Contribute Too Much to an IRA? and is protected by US copyright laws.

An Individual Retirement Arrangement, or IRA, is one of my favorite vehicles to save for retirement because it offers a wide variety of investment choices and lots of tax savings. But when you don't follow the rules, an IRA comes with hefty penalties. A common mistake is contributing too much to an IRA. What Happens [...]


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]]> This article was originally published on The Military Wallet at What Happens If You Contribute Too Much to an IRA? and is protected by US copyright laws.

An Individual Retirement Arrangement, or IRA, is one of my favorite vehicles to save for retirement because it offers a wide variety of investment choices and lots of tax savings. But when you don't follow the rules, an IRA comes with hefty penalties. A common mistake is contributing too much to an IRA. What Happens If You Contribute Too Much to an IRA? In this article you'll learn about traditional and Roth ...

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  1. 2009 Retirement Plan Contribution Limits
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]]> http://themilitarywallet.com/contribute-too-much-to-an-ira/feed/ 0 Five Ways To Find Money To Maximize Your Roth IRA Contributions http://themilitarywallet.com/maximize-your-roth-ira-contributions/ http://themilitarywallet.com/maximize-your-roth-ira-contributions/#comments Tue, 01 Feb 2011 19:43:48 +0000 Hank Coleman http://themilitarywallet.com/?p=732

This article was originally published on The Military Wallet at Five Ways To Find Money To Maximize Your Roth IRA Contributions and is protected by US copyright laws.

The maximum amount of money you can sock away in a Roth IRA is $5,000 each year if you are under the age of 50 years-old. If you saved the $5,000 contribution limits every year from the time you graduated college until you retired at the ripe old age of 65, you would be sitting [...]


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]]> This article was originally published on The Military Wallet at Five Ways To Find Money To Maximize Your Roth IRA Contributions and is protected by US copyright laws.

The maximum amount of money you can sock away in a Roth IRA is $5,000 each year if you are under the age of 50 years-old. If you saved the $5,000 contribution limits every year from the time you graduated college until you retired at the ripe old age of 65, you would be sitting on a nest egg of approximately $1.6 million assuming an 8% annual rate of return. ...

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]]> http://themilitarywallet.com/maximize-your-roth-ira-contributions/feed/ 0 Roth IRA Qualifications http://themilitarywallet.com/roth-ira-qualifications/ http://themilitarywallet.com/roth-ira-qualifications/#comments Mon, 24 Jan 2011 11:16:25 +0000 Ryan Guina http://themilitarywallet.com/?p=724

This article was originally published on The Military Wallet at Roth IRA Qualifications and is protected by US copyright laws.

Opening an Roth IRA is easy, but you have to meet certain requirements in order to eligible for a Roth IRA. For example, you must have earned income, meet specified income limits, contribution deadlines, and open your IRA through an approved IRA custodian, generally a financial institution such as a bank or brokerage firm, or [...]


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]]> This article was originally published on The Military Wallet at Roth IRA Qualifications and is protected by US copyright laws.

Opening an Roth IRA is easy, but you have to meet certain requirements in order to eligible for a Roth IRA. For example, you must have earned income, meet specified income limits, contribution deadlines, and open your IRA through an approved IRA custodian, generally a financial institution such as a bank or brokerage firm, or through an authorized IRA custodian (many independent financial advisors meet this qualification). There are many ...

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  1. Roth IRA Rules
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  3. Comparing Traditional and Roth IRAs


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]]> http://themilitarywallet.com/roth-ira-qualifications/feed/ 0 10% Early Withdrawal Penalty for Retirement Accounts http://themilitarywallet.com/10-percent-early-withdrawal-penalty-for-retirement-accounts/ http://themilitarywallet.com/10-percent-early-withdrawal-penalty-for-retirement-accounts/#comments Wed, 01 Dec 2010 12:02:57 +0000 Ryan Guina http://themilitarywallet.com/?p=692

This article was originally published on The Military Wallet at 10% Early Withdrawal Penalty for Retirement Accounts and is protected by US copyright laws.

The IRS offers some pretty awesome tax benefits for people who invest in retirement funds. To entice people to save for their own retirement, the IRS offers people the opportunity to contribute to 401k plans, IRAs, the Thrift Savings Plan, and other retirement plans and defer paying taxes on a portion of their contributions or [...]


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]]> This article was originally published on The Military Wallet at 10% Early Withdrawal Penalty for Retirement Accounts and is protected by US copyright laws.

The IRS offers some pretty awesome tax benefits for people who invest in retirement funds. To entice people to save for their own retirement, the IRS offers people the opportunity to contribute to 401k plans, IRAs, the Thrift Savings Plan, and other retirement plans and defer paying taxes on a portion of their contributions or withdrawals. But these tax benefits come with a catch. Almost all retirement accounts have early withdrawal ...

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]]> http://themilitarywallet.com/10-percent-early-withdrawal-penalty-for-retirement-accounts/feed/ 4 When Should You Start Receiving Social Security Benefits? http://themilitarywallet.com/when-should-you-take-social-security-benefits/ http://themilitarywallet.com/when-should-you-take-social-security-benefits/#comments Mon, 22 Nov 2010 12:16:58 +0000 Ryan Guina http://themilitarywallet.com/?p=664

This article was originally published on The Military Wallet at When Should You Start Receiving Social Security Benefits? and is protected by US copyright laws.

Many people start taking Social Security benefits as soon as they are eligible to begin receiving them, which for many Americans is age 62. But just because you can begin receiving Social Security benefits doesn't mean you should take them right away. For example, you can often increase your Social Security payments by delaying when [...]


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]]> This article was originally published on The Military Wallet at When Should You Start Receiving Social Security Benefits? and is protected by US copyright laws.

Many people start taking Social Security benefits as soon as they are eligible to begin receiving them, which for many Americans is age 62. But just because you can begin receiving Social Security benefits doesn't mean you should take them right away. For example, you can often increase your Social Security payments by delaying when you receive them. Here are a few things to think about concerning when to begin ...

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]]> http://themilitarywallet.com/when-should-you-take-social-security-benefits/feed/ 2 Maximizing Social Security Benefits http://themilitarywallet.com/increase-social-security-benefits/ http://themilitarywallet.com/increase-social-security-benefits/#comments Tue, 16 Nov 2010 11:35:04 +0000 Ryan Guina http://themilitarywallet.com/?p=654

This article was originally published on The Military Wallet at Maximizing Social Security Benefits and is protected by US copyright laws.

The Social Security System offers a great benefit for taxpayers who paid into the system over the years. Unfortunately, it can be a little confusing if you haven't had time to do a little research into available Social Security Benefits. This should not discourage recipients from learning as much as possible about the benefits which [...]


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]]> This article was originally published on The Military Wallet at Maximizing Social Security Benefits and is protected by US copyright laws.

The Social Security System offers a great benefit for taxpayers who paid into the system over the years. Unfortunately, it can be a little confusing if you haven't had time to do a little research into available Social Security Benefits. This should not discourage recipients from learning as much as possible about the benefits which they are entitled to receive.  Failure to understand the system could cost you money at ...

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]]> http://themilitarywallet.com/increase-social-security-benefits/feed/ 2 Roth IRA Rules http://themilitarywallet.com/roth-ira-rules/ http://themilitarywallet.com/roth-ira-rules/#comments Wed, 15 Sep 2010 10:44:07 +0000 Ryan Guina http://themilitarywallet.com/?p=516

This article was originally published on The Military Wallet at Roth IRA Rules and is protected by US copyright laws.

Are you familiar with Roth IRA Rules? Roth IRAs are one of the most popular retirement plan options around because they offer a wide variety of investment opportunities and exceptional tax benefits. A Roth IRA is a tax advantaged retirement account that allows individual investors to make contributions with after tax dollars into an investment [...]


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]]> This article was originally published on The Military Wallet at Roth IRA Rules and is protected by US copyright laws.

Are you familiar with Roth IRA Rules? Roth IRAs are one of the most popular retirement plan options around because they offer a wide variety of investment opportunities and exceptional tax benefits. A Roth IRA is a tax advantaged retirement account that allows individual investors to make contributions with after tax dollars into an investment account where the contributions will grow without the drag of taxes until they can be withdrawn ...

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