Publication date:
27 October 2017Length of book:
180 pagesPublisher
Rowman & Littlefield PublishersISBN-13: 9781442281615
Change is a given in the United States military, but the soon to be applied “Blended Retirement System” is a financial change like no other the military has ever experienced. It is a huge deal that will not only affect the wallets of many active duty service members today and certainly 100% of them beginning in 2018, but it could also have a significant impact on future recruiting and retention of our volunteer military force.
Mission Transition: Managing Your Career and Your Retirement is a needed introduction of the military’s new “Blended Retirement System,” representing the big shift in how the DoD manages military retirements. In the process, it encourages service members to adopt the new concept of retirement in the military, improve their own financial literacy, and assume responsibility for their own retirement planning. Finally, it provides new civilian job survival tips and strategies for service members in the process of leaving the military for civilian life.
For those who are contemplating joining the armed forces and who wish to better understand the myriad of changes to the overall military retirement system this is the ideal guide.
Mission Transition: Managing Your Career and Your Retirement is a needed introduction of the military’s new “Blended Retirement System,” representing the big shift in how the DoD manages military retirements. In the process, it encourages service members to adopt the new concept of retirement in the military, improve their own financial literacy, and assume responsibility for their own retirement planning. Finally, it provides new civilian job survival tips and strategies for service members in the process of leaving the military for civilian life.
For those who are contemplating joining the armed forces and who wish to better understand the myriad of changes to the overall military retirement system this is the ideal guide.
The author of this straightforward, very helpful work follows her accessible Military Life 101: Basic Training for New Military Families (2016) with this essential resource. Farley’s qualifications as a postmilitary career-transition expert are especially necessary because beginning in January 2018, the 'Blended Retirement System' will affect the immediate and long-range financial planning of all service members, whether or not they stay in until retirement. Service members will need to choose whether to keep their current retirement plan or enroll in a plan that more closely resembles that of the private sector, expanded to a government-run 401(k) retirement account. This book will help service members improve their financial literacy and assume responsibility for planning for retirement. In addition, Farley provides postservice job strategies, some of which will be useful for civilians contemplating joining the armed forces. Online links, a glossary, and notes enhance this single volume’s value. Recommended for public libraries and academic libraries, as both serve members of the armed forces.