Are you a member of the military? Curious about how to navigate retirement planning?
Embarking on a retirement journey holds distinct significance for those who’ve dedicated their lives to military service.
In this episode, Jeremy Keil interviews General Michael Meese from the American Armed Forces Mutual Aid Association (AAFMAA) about military retirement planning. Mike talks about the changes made to retirement benefits for military personnel, including the introduction of a defined contribution plan similar to a 401(k) and the Thrift Savings Plan (TSP). He also highlights the importance of insurance coverage and the Survivor Benefit Plan for retirees.
Mike discusses:
- His military career and role in the American Armed Forces Mutual Aid Association (AAFMAA)
- How the military retirement system works
- What the Thrift Savings Plan (TSP) is
- What the ServiceMembers Group Life Insurance (SGLI) is and how to switch to VGLI after leaving the military
- What key factors service members need to consider about retirement
- What his personal retirement plan looks like
- And more