I was lucky. I hit the 10-year mark in service and was leaning towards a decision to leave the Army Reserve. I wanted to focus on my civilian career and was, frankly, tired of monthly drills and dividing my attention between my still-new career in financial planning – I left active duty just after six years of service -- and the obligations of continuing to serve. Coincidentally, at that point in time, my father hit age 60 and began to receive his reserve retirement benefits.
When I saw the results, the financial planner in me said, “you’re going the distance,” and I did. Whether you’re currently serving in the Guard or Reserve, or contemplating a move from active duty to the Guard/Reserve, finances may not be your top consideration, but they certainly should be a big consideration.
Here are 5 financial considerations:
As a financial planner, I know I can get caught up in the money component of any decision. However, but when it comes to continued service, a move to the Reserve Component may be a rewarding endeavor.
Are you currently serving in the Guard or Reserve, or contemplating a move from active duty to the Guard/Reserve? Share your plan in the comments.
Author Bio: JJ Montanaro is a Certified Financial Planner® professional and part of the Military Affairs team at USAA. He’s a graduate of the U.S. Military Academy and has over 20 years of financial planning experience.
* Disclosure: "Certified Financial Planner Board of Standards, Inc. owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it awards to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements."
The information contained is provided for informational purposes only and is not intended to substitute for obtaining professional financial advice. Please thoroughly research and seek professional advice before acting on any information you may have found in this article. This article in no way attempts to provide financial advice that relates to all personal circumstances.
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