"High Three" and retirement

[AndOne]

Just curious to know if any other military members are approaching their fifteenth year and are faced with taking $30,000 at the 15th year with a lower retirement percentage if you retire at 20.

My wife and I are currently dealing with this decision - but have not made a final one yet. It would be easy if I knew for sure that I was going to stay in for 30 years - but who knows what will happen.

Is anyone out there dealing with this - or dealt with this - I'd like to know why someone may or may not have taken the $30,000 at 15 years.

 

[Lucent]

I have never heard of anything like that before. Granted I've only got 6 yrs in, but I've never heard any of the Staff Sgts or anyone else talk about it either.

Is this something new, or have they been doing this for a while?

 

[SiteCR2]

past it.
real question -- how good are you at investing and sticking w/ your goal. leaving it alone. if you can do that to meet your objective, you take the money.
if not, go for higher retirement. yes you're betting on living a long live. but ..... shouldn't we all.

too many airmen take the money, then a few years later spent it and have very little to show, almost 90% are on cars or such.

some are smart enough to get out of debt and still are now. good use

 

[Sybaris]

I retired after 22 years.

Right now my pension is about $1,500.00 a month (net) and will increase with cost of living adjustments. It's VERY comforting to have that.

30K is not a lot of money. As the previous poster mentioned, if you take it you better have a solid plan to make the most of it.