Posted on Jul 19, 2017
Have Short- and Long-Term Plans If Not Selecting SBP
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Military retirement pay is an important part of a retired military family’s financial plan, but military retirement pay ends with the death of the military retiree. Retirees and their spouses have the option to purchase income replacement coverage through the Survivor Benefit Plan (SBP.) SBP provides a portion of retirement pay for life, with adjustments for inflation just like military retirement pay.
Have Short- and Long-Term Plans If Not Selecting SBP
Posted from paycheck-chronicles.military.com
Soldier for Life
Retirement
Finance
Marriage
Posted >1 y ago
Responses: 4
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You should have short and long term plans even if selecting SBP. Our society as a rule does not start retirement planning early enough. The earlier you start the better off you will be.
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CPT Andy Swanston is absolutely right. Cheap insurance to help the family along, should something happens. I paid for it, until it was paid up. The inflation thing is new to me. In addition, I went with a 20 pay life insurance and cashed out when my future was secure financially.
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