Blended Retirement System | Don't Miss Out On These Bonuses! скачать в хорошем качестве

Blended Retirement System | Don't Miss Out On These Bonuses!

Blended Retirement System Bonuses The military’s new Blended Retirement System (BRS) has several bonuses that people don’t seem to understand completely. As one of the older pioneers of the BRS (I was at 10 years’ time in service when I switched), I have gotten to pave the way through some of these benefits. Do you like how I said that like it’s a good thing? It hasn’t been. Haha. Take the continuation pay, for example. It took me three weeks of talking to my S-1, IPAC (admin center), and Pay and Disbursing, as well as emailing the headquarters Marine Corps manpower branch to confirm how I was supposed to elect to receive this benefit and ensure it was processed correctly. Part of this is because people don’t seem to be familiar with the new process yet, and part of this is just because COVID-19 currently has a lot of offices closed. Having to ask these questions via email and wander around aimlessly trying to figure out who could sign my paperwork to receive this benefit was just as frustrating as you can imagine any military paperwork process is. That being said, I’m glad that it was me who had to learn about these bonuses the hard way. Now I have the opportunity to produce content about it so that you will have a much smoother process! To continue with our above example about electing to receive your continuation pay, it is actually a fairly simple process, which I will get into in a moment. 5% matching contribution The one thing that everybody seems to understand the new Blended Retirement System is that you can receive up to a 5% matching contribution from the government. I’m glad that people understand at least this part of the BRS because the 5% match is a huge advantage for several reasons: It is an automatic 5% pay raise, assuming you contribute at least 5% of your paycheck to the TSP. If you only contribute 5% of your paycheck, it is an instant and guaranteed a 100% return on your investment. You get to keep the balance in your TSP, even if you exit the military after your first term. This 5% matching contribution doesn’t seem like much to an E-1 in their first year of service who is only receiving $86.65/month, but at the other end of the spectrum, an O-10’s matching contribution would be $822.10/month! To put that in perspective, an O-9 or O-10 with over 26 years of service will more than max out their annual Thrift Savings Plan contributions just by contributing 5% and receiving the 5% match! Even for an E-1, the 5% match is an additional $1030+ per year contributed to their TSP, which after 40 years of compound interest can be quite significant. By far my favorite thing about the matching contribution is that you get to take it with you when you leave the service. This allows service members who only served one or two terms to have a much larger nest egg when they reach retirement age! - #blendedretirementsystem #brs #militarypension Real Estate Investing Course: https://military-millionaire-academy.... Recommended books and tools: https://www.frommilitarytomillionaire... - SUBSCRIBE: https://bit.ly/2Q3EvfE - Website: https://www.frommilitarytomillionaire... Instagram:   / frommilitarytomillionaire   Facebook:   / militarymillionaire   - My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase "I don't get paid enough" entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom! - Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos!