Military Retirement Security

By Sarah Smiley

I once told Dustin that putting money in our IRA each month was like "throwing money out the window." Sometimes I miss the bigger picture. I live in the here and now. Dustin plans for the future. This is what makes us a good team. Still, Dustin never misses an opportunity to laugh at my ignorance when it comes to all things financial.

In nine years, Dustin can retire from the military and collect benefits for the rest of his life. To me, nine years feels like an eternity. For Dustin, anything -- even moving every two years, going on deployments, waiting in line for a new ID card -- is worth it if it means securing his retirement. "Nine years, and then its money in the bank for us," he tells me. But when I'm having one of my "moments," when doing another move and/or dealing with another month living like a quasi-single mom seems unbearable, I am prone to think, "Retirement Shmirement."

After a recent argument about finances, however, Dustin sat me down and explained in layman's terms what his retirement would really mean for us: a paycheck for the rest of his life, healthcare benefits and more. Either I've matured, or he came at it with a new angle, because for the first time, Dustin's reasoning clicked.

I have sometimes accused the military of being a "delayer." By that I mean young men and women join, are lured into increasing commitments by various carrots (bonuses, retirement, etc.), until finally they consider getting out and realize, "What would I do in the real world?" It's like living with a college senior who hasn't picked his major yet.

But when Dustin explained the whole retirement thing to me, I realized what an amazing opportunity the military gives its people. At just a little over 40 years of age, my husband can retire from the military, collect benefits for the rest of his life, and still be young enough to start a whole other career.
Not a bad deal. Not a bad deal at all.