Dear Joe,

I’m in the Reserves and close to retirement – I’ve had some active-duty service and the rest drilling. I may be eligible for a promotion soon and am weighing whether to retire or stay in for a few more years. Is there any benefit to staying longer? How much bigger will my retirement check be?

Stay or Go

Dear Stay or Go,

The decision to stay in or retire is personal, and finances are only one piece of the puzzle. If you're weighing your options, the MyArmyBenefits Retirement Calculator can help you see what your future retired pay could look like. After signing in with your CAC or myAuth credentials, choose the “Custom Calculator” so that your personal data populates from IPPS-A and DEERS. Most of your information will automatically populate and you can adjust items like rank or years of service to compare different retirement scenarios. No matter what you decide, you'll have a personalized retirement estimate to help you make the choice that's right for you.

Best of luck,

Joe

Dear Joe,

I am preparing for retirement from active duty next year and considering whether to enroll in the Survivor Benefit Plan (SBP) or not. One concern is if I die before I pay out the 360 months of payments, will the payments be deducted from my wife’s monthly SBP benefits?

Please help,

Stressed about the future

Dear Stressed,

If you elect Survivor Benefit Plan (SBP) coverage, your designated beneficiary – such as your wife – will receive the elected SBP annuity if you die while covered, regardless of how many premium payments you made. Retirees who reach age 70 and complete 360 monthly SBP premium payments achieve paid-up status. At that point, premiums stop, but SBP coverage continues uninterrupted. Visit the MyArmyBenefits SBP fact sheet and the Soldier for Life SBP webpage for more information.

You’ve got this!

Joe