Retired Military Finances 201: TSP Annuities
Active and Retired Senior Military Officers and NCOs that participated in TSP have the option to take payments in the form of an annuity. What is an annuity, and should they do it?
Active and Retired Senior Military Officers and NCOs that participated in TSP have the option to take payments in the form of an annuity. What is an annuity, and should they do it?
The law covering how inherited IRAs are treated has been in existence for more than 4 years. The rules that cover them haven't been written/finalized until now. And... they're not simple.
Owning a business is a huge accomplishment, but it comes with considerations and potential challenges, including retirement planning. Learn more about why retirement planning is different for retired military business owners and what to consider.
Turning your residence into a rental is challenging from a tax perspective. That is even more so for Active and Retired Military Members. They need to watch out for and be aware of the rules for non-qualified use of a primary residence.
If you're a military retiree, you're covered by TRICARE. Once you turn 65 you could potentially lose that coverage if you don't take action.
As you retire from the military, you may want to take the pack off and work as a freelancer on projects you enjoy. Or maybe after a few years in the corporate world, you're ready to freelance. Great idea. But make sure you don't neglect your retirement savings.
Retired Senior Military Officers and NCOs often get a chance to retire a second time. That could be a big change. A test run might not be a bad idea.
A bond ladder can be useful as you approach your second retirement after retiring from the military. Here is a primer.
Up to and even entering military retirement, you haven't had to do much to keep your Tricare coverage. That changes when you turn 65 and if you're not careful you could lose all your medical insurance.
Disclaimer
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by C.L. Sheldon & Company, LLC ), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. C.L. Sheldon & Company, LLC does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to C.L. Sheldon & Company, LLC website or incorporated herein, and C.L. Sheldon & Company, LLC takes no responsibility therefore. All such information is provided solely for convenience, educational, and informational purposes only and all users thereof should be guided accordingly. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from C.L. Sheldon & Company, LLC . To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. C.L. Sheldon & Company, LLC is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the C.L. Sheldon & Company, LLC ’s current written disclosure statement discussing our advisory services and fees is available for review upon request. DISCLAIMER OF TAX ADVICE: Any discussion contained herein cannot be considered to be tax advice. Actual tax advice would require a detailed and careful analysis of the facts and applicable law, which we expect would be time consuming and costly. We have not made and have not been asked to make that type of analysis in connection with any advice given in this blog post. As a result, we are required to advise you that any Federal tax advice rendered in this blog is not intended or written to be used and cannot be used for the purpose of avoiding penalties that may be imposed by the IRS. In the event you would like us to perform the type of analysis that is necessary for us to provide an opinion, that does not require the above disclaimer, as always, please feel free to contact us.