Author Topic: Any prior military members living the FIRE life?  (Read 15261 times)

Nords

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Re: Any prior military members living the FIRE life?
« Reply #50 on: December 14, 2016, 08:36:06 AM »
I retired as a Gunny (E7) from the Corps.  I then did 14 years as a FED with DoD.  When DoD offerED a series of VERA/VISP early retirement incentives, I bought back my military time to qualify.  This was financialLY viable for me as I retired mid-grade NCO and was a GS-14 as a Fed.  Buying back a full 20 years of military service is not always financial sound.  You have to do the math. 
You're the only military retiree I've ever heard of who bought their military service credit deposit.  Did that math make sense because shortly afterward you retired from the civil service? 

(For other readers, here's what I'm asking about:
Military veterans who are not retirees--
http://gubmints.com/2013/03/26/gubmints-comprehensive-military-service-credit-deposit-guide/
For active-duty military retirees--
http://gubmints.com/2013/04/15/military-service-credit-deposit-retired-from-active-duty/ )

Gunny

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Re: Any prior military members living the FIRE life?
« Reply #51 on: December 14, 2016, 09:53:32 AM »
Nords, it made financial sense, barely, because I wanted to retire and to qualify for VERA/VISP I needed the 20 years my Military service provided.  The VISP amount more than covered the buy-back amount by around 2500.00.  Again, if I would have retired an officer or E9, the buy back amount would have exceeded the VISP amount and I would have ended up paying Uncle Sam to retire.  And since I was a high grade civie, the annual pension based on total service of 34 years was enough to comfortably live on.  It doesn't always work out financially, but it did in my case. 

Nords

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Re: Any prior military members living the FIRE life?
« Reply #52 on: December 14, 2016, 01:07:49 PM »
Nords, it made financial sense, barely, because I wanted to retire and to qualify for VERA/VISP I needed the 20 years my Military service provided.  The VISP amount more than covered the buy-back amount by around 2500.00.  Again, if I would have retired an officer or E9, the buy back amount would have exceeded the VISP amount and I would have ended up paying Uncle Sam to retire.  And since I was a high grade civie, the annual pension based on total service of 34 years was enough to comfortably live on.  It doesn't always work out financially, but it did in my case.
Thanks for the explanation, and congratulations on a major score in an edge case!  Like you said, you can do math...

Gunny

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Re: Any prior military members living the FIRE life?
« Reply #53 on: December 14, 2016, 05:38:12 PM »
Nords, I bet pipe line is pounding about now.. I miss Oahu.  Be safe out there

Gunny

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Re: Any prior military members living the FIRE life?
« Reply #54 on: December 15, 2016, 04:49:31 AM »
Sparty, you are too humble.  Thank you for volunteering with our vets.  Very noble cause.