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originally posted by: TDawgRex
As an example, a Sergeant First Class (or E-7) retiring from the military after twenty years would receive $1.2 million dollars over a twenty year period. What if there were a option to cash out at let's say, a 1/4 of that? $250,000 before taxes. That's still some serious money.
I know a guy who took a buyout of his retirement, he is now eighty four, retiring at fifty five. His money ran out long ago, he would have been better off with keeping the pension. He was supervisor of the road commission workers and his pension would have been plenty good.
originally posted by: TDawgRex
a reply to: schuyler
All true, and you did notice I said 1/4, not 1/2, right? Many monthly pensions, if not most, pay only enough to survive month to month. It's a fixed income. Having the option to buy out would remove that barrier.
originally posted by: TDawgRex
a reply to: schuyler
All true, and you did notice I said 1/4, not 1/2, right? Many monthly pensions, if not most, pay only enough to survive month to month. It's a fixed income. Having the option to buy out would remove that barrier.
Yes, some would squander that money, but it would no longer be the taxpayers problem, other than the ACA if they lived that long. Sad, but true.
Others would use that money to start a new life. Also true.
But overall the Government and taxpayers would win if this option were implemented.
It's all about personal responsibility.