military retirement

Everyone seems to be worried about 401Ks and I was wondering about my dad's Air Force reitirement. So far everything for us is going ok with his retirement. They bought a house with a mortgage and we had to foreclose and let it go(I won't go into detail)so now we're renting a small A-Frame house which is cool with me(I'm 34 and living with them for financial reasons like I said not really the point of the post) it really reminds of the times when my dad was active duty and we lived on base housing. That being said I seem to remember from High School that there was a time after the civil war with veterans rioting on Washington because of problems with their pensions(I might be mistaken on what point of time in history this happened) Anyway I'm sure that since this board is called ATS that there is a lot of x-miliatry,retired military,active duty,etc. on here that could give me some facts on what this means for me and my family because the only thing that keeps us from being on our a&% right now is his retirement and his military service. I'm sure we're not the only military retiree family out there wondering when this S**t storm will hit us hard or not

Exman;

Your father has nothing to worry about. His retirement as well as all military pensions(VA included) were funded last year. The fiscal year starts every October 1 so that budget was passed earlier. Not really passed due to the stupidity of congress but it will be there.

I remember back in 95-96 when Clinton and the Repubs could not come to terms with the budget and the government closed down. All military and retirees still were paid. Sorry to hear about the foreclosure though. I live in a military town and used to sell real estate so I see it everywhere.

Good Luck to you and your family

Yes, your dad will most likely continue to receive his money. The problem is that it will be worth less and less over time, as the G is printing money now by the tanker load. Even the COLA(cost of living adjustment) will not keep up with the real inflation.