Service, Sacrifice, and Second Acts: Military Retirees

Retirement Answer Man

Roger Whitney, CFP®, CIMA®, RMA, CPWA®

Lifeplanning, Retirementplanning, Financialplanning, Saving, Careerplanning, Self-improvement, Education, Retirementpodcast, Investing, Business, Investmentmanagement, Retirement

4.7 • 1.1K Ratings

🗓️ 7 August 2024

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Military retirees have a unique set of circumstances and opportunities. In this episode, military retiree and CFP Scott Sanborn joins me to explore the financial and non-financial aspects that come with a military retirement.

Over the next month, we’ll be exploring different ways of retiring. If you have special retirement circumstances, you won’t want to miss this unique retirement series. Stay tuned for episodes on retiring with special needs children, retiring abroad, and retiring with illness or injury.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

A MILITARY RETIREMENT WITH SCOTT SANDBORN

[3:40] Why did Scott become a CFP?
[5:36] What it means to retire from the military
[7:15] How retiring from the military is different
[13:18] Understanding the healthcare benefits
[17:55] Reimagining your second act

LISTENER QUESTIONS

[29:40] Penny is trying to decide whether to stay or move closer to family
[37:28] How to decide when and how to relocate
[39:41] How to pay the tax from my Roth conversions?
[41:22] Is the IRMAA surcharge calculated each year?
[42:40] How should I create my retirement paycheck? By withdrawing a lump sum or smaller amounts each month?
[45:20] Standard deviation and creating an N of 1

TODAY’S SMART SPRINT SEGMENT

[47:55] Remember what your intent is

Resources Mentioned In This Episode

Scott Sanborn

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Transcript

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0:00.0	The show is a proud member of the Retirement Podcast Network.
0:04.4	Welcome to the show dedicated to helping you not just survive retirement,
0:08.0	but to have a confidence because you're doing the work
0:11.2	to really lean in and rock it. My name is Roger Whitney by day I am a practicing
0:16.4	retirement planner with 30 years experience founder of agile retirement management and for the last 10 years or so,
0:25.0	I had the honor of hanging out here with you
0:28.0	and using this podcast as my own mastery journey
0:30.0	to improve my craft as a retirement planner which has been a blast.
0:34.8	But also even more fun has been to hopefully empower you to create a plan of records so
0:40.6	you can live a great retirement with confidence.
0:46.8	So today on the show, we are starting a unique retirement series
0:52.0	where we're gonna talk about different unique ways of retiring.
0:55.2	Today we're going to talk about retiring from military service with a military
0:59.2	benefits package and how that should inform retirement planning.
1:04.0	Next week we're going to talk about retiring with special needs children.
1:08.0	A lot of special considerations there.
1:10.0	We're going to bring on an expert to talk about navigating that and finding that
1:13.4	balance between being a good steward and parent but also having a great retirement.
1:18.4	The week after that we're talking about retiring without borders, the expat lifestyle.
1:24.2	We're going to bring on an expat to the US
1:26.8	that focuses there and share some stories
1:29.7	that I received from many of you
	...

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