Charleston Chapter – MOAA Charleston Chapter – MOAA
Charleston Chapter – MOAA Charleston Chapter – MOAA
Charleston Chapter – MOAA


Recent News:
(Published in last 30 days)


Charleston Chapter – MOAA
Date Posted:01/15/19
This Story Expires on: 02/28/19
CBO Suggests Raising Tricare Fees, Cutting Veteran Benefits to Slash Deficit

Date Posted:01/14/19
This Story Expires on: 02/28/19
Food Stamp Programs to Remain Available Through February for Troops, Vets

Date Posted:01/10/19
This Story Expires on: 02/28/19
USAA to Pay $12M to Members After Failing to Stop Unauthorized Electronic Payments

Date Posted:01/10/19
This Story Expires on: 02/28/19
Disabled Veterans Can Now Fly Space A

Date Posted:01/07/19
This Story Expires on: 02/28/19
Tricare Survey: Advocacy Group Wants Your Help

Date Posted:01/07/19
This Story Expires on: 02/28/19
Veterans Can Make Purchases at Exchange

Date Posted:01/03/19
This Story Expires on: 01/19/19
How is Tricare treating you? Here’s your chance to be heard

Date Posted:01/03/19
This Story Expires on: 02/28/19
New in 2019: VA’s health care rules will be completely rewritten this year

Date Posted:01/03/19
This Story Expires on: 02/28/19
These are the GI Bill transfer changes you’ll need to know about in 2019

Date Posted:01/01/19
This Story Expires on: 02/28/19
5 Things Spouses Should Do in the New Year

Date Posted:12/31/18
This Story Expires on: 02/28/19
Vets interested in STEM degrees could get more GI Bill money in 2019

Date Posted:12/28/18
This Story Expires on: 03/31/19
How to Get Free Supplies to Ship Care Packages

Date Posted:12/28/18
This Story Expires on: 02/28/19
Tricare to Stop Covering Some Vitamin Supplements

Date Posted:12/24/18
This Story Expires on: 02/28/19
Tricare Deductibles, Caps Reset Jan. 1

Date Posted:12/24/18
This Story Expires on: 02/28/19
Tricare Expands Ambulance Service Coverage

Date Posted:12/22/18
This Story Expires on: 02/28/19
South Carolina State Veteran Benefits

Date Posted:12/17/18
This Story Expires on: 03/31/19
Major Veterans Legislation Winding Through Congress

Date Posted:12/13/18
This Story Expires on: 01/31/19
National Guard Birthday

Date Posted:12/13/18
This Story Expires on: 03/31/19
5 Things Vets Should Never Do at Job Interviews

Date Posted:12/13/18
This Story Expires on: 02/28/19
How to Find Cheap Military Flights and Baggage Discounts

Date Posted:12/13/18
This Story Expires on: 02/28/19
As VA works to implement appeals reform, GI Bill problems cast doubts

Date Posted:12/12/18
This Story Expires on: 02/28/19
W 2s for Military, Retirees, and Civilian Employees Available Soon

Date Posted:12/11/18
This Story Expires on: 04/30/19
Free and Discounted Tax Preparation for Military

Date Posted:12/10/18
This Story Expires on: 03/31/19
VA Makes It Easier to Share Your Health Information with Private Doctors

Date Posted:12/10/18
This Story Expires on: 02/28/19
Many Tricare Users to See 2019 Enrollment, Fee Increases

Date Posted:12/10/18
This Story Expires on: 02/28/19
Memorials

Date Posted:12/10/18
This Story Expires on: 03/31/19
Marine Corps General James Conway and Master Sergeant Blaine Scott. (Photo: Ho Lin, Military.com)

Date Posted:11/21/18
This Story Expires on: 02/28/19
Everything You Need to Know About Tricare Open Season

Date Posted:11/21/18
This Story Expires on: 04/30/19
Transitioning to Civilian Life: Navigating the Financial ShiftNo matter why you're leaving the military, a big part of preparing for your civilian lif

Date Posted:11/20/18
This Story Expires on: 01/31/19
New research could lead to disability benefits for Vietnam veterans with high blood pressure

Date Posted:11/15/18
This Story Expires on: 01/31/19
New bill would ease GI Bill transfer rules for vets, military families, like never before

Date Posted:05/05/18
This Story Expires on: 09/30/19
Take the VA's New RAMP to a Faster Appeal Decision

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Transitioning to Civilian Life: Navigating the Financial ShiftNo matter why you're leaving the military, a big part of preparing for your civilian lif
Posted on: 11/21/18
This Story Expires on: 04/30/19




No matter why you're leaving the military, a big part of preparing for your civilian life is taking steps to proactively address the financial details of this change. Here are some tips to help ease the transition.

Make a Plan

If you're retiring, separating or being released from a period of at least 180 days of Active Duty, you must participate in Transition GPS to help you prepare. This program, developed by the Department of Defense and other agencies, includes pre-separation resources covering topics such as education and training, employment and career goals, financial management, and VA benefits. You'll also prepare an individual Transition Plan through the DoD Transition Assistance Program (TAP).

 

On your own, make time to do the following before you transition to civilian life:

  • Schedule final physicals and dental appointments for you and your family
  • Update your will and other documents through the legal resources on your installation
  • Review and correct your military records, which can provide access to certain benefits
  • Keep your Active Duty Discharge form safe—you'll need it to access Veterans Affairs programs

Sponsored: Navy Federal Credit Union is celebrating veterans, in every stage of life, all month with offers.

Prepare a Transition Budget

Once you leave the military, your living expenses may rise. You'll no longer be receiving tax-free allowances, and your other day-to-day expenses could increase. Preparing a transition budget that considers both income and expenses will help you stay on track as you adapt to civilian life.

Income

  • Will you be eligible for separation pay or cashing in unused leave?
  • What salary can you expect from your new career?
  • Will your spouse be working?
  • Will you be eligible for any veterans' benefits that provide ongoing income?
  • How will your retirement savings change? If you have a Thrift Savings Plan, know your options and make a plan for what you'll do with the money in that account. Here are your options:
    • Keep your money there. This will allow it to continue accruing interest, and while you can't make additional contributions, you can make inter-fund transfers.
    • Receive a single payment. All or a portion of the account can be transferred to an IRA or employer plan.
    • Request a series of monthly payments based on your dollar amount or life expectancy. All or a portion of the account can be transferred to an IRA or employer plan.
    • Request a TSP annuity. This is only an option if you have at least $3,500 in your account.

Expenses

  • What will the cost of living (e.g., gas, food, utilities) be like in your new location?
  • How will your health expenses change? Are you eligible for continued military health benefits?
  • What will your housing costs include (e.g., rent, mortgage, taxes, insurance)?
  • What are your moving expenses? Are you eligible to have any of them covered by the military?
  • Will you need to purchase and insure a vehicle?
  • Will you have other expenses like commuting, clothing and child care?

Review and Revisit

After your transition is complete and your income and expenses are stable, update your budget to reflect your new circumstances. Then take time to review your financial goals, update your beneficiaries and refocus on your long-term goals in this next phase of your life.

 

Sponsored: Navy Federal offers resources, including financial seminars, to aid in the transition to civilian life. To find out about this and other transition assistance resources, give us a call at 1-888-842-6328.



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Charleston Chapter – MOAA
Charleston Chapter – MOAA

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