While retired military officers have a great start on retirement funding, those who start a business need to know and understand the retirement plan options available. By participating in one or more of the plans available, you can set yourself up for the retirement lifestyle you desire.
Near the end of your career as a military officer or perhaps after you retire, you may inherit an IRA. The tax rules are complicated and a mistake can be very costly. Make sure you understand these four rules, as a minimum.
TSP is a good place to save for retirement. But, you want to make sure you keep your beneficiary designations up to date and you need to plan for how to pass the funds on to the beneficiaries, first and second generation, with the lowest possible tax load.
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