LONG-TERM CARE PLANNING FOR VETERANS
Aug. 21, 2013
People who serve in the United States armed forces make many sacrifices for the rest of us. However, there are some rewards that you get in return that can help you as you are planning for your retirement years.
A lot of people who spend some time in the military do not stay beyond one term and this in itself is a great service to the country. However, if you were to spend at least 20 years in uniform you could qualify for a military pension. Since most people join the military as young adults, if you chose to do so you could serve these 20 years and then retire from the military but not from working altogether.
People who embark on a civilian career after serving for 20 years in the military could potentially save their pension checks and live off of their earnings at work. By the time such a veteran reaches Social Security eligibility age he or she would have quite a nest egg saved up.
Another benefit that service members may qualify for is the Veterans Aid & Attendance special pension. You don't have to have served for 20 years to be eligible. Veterans who have served at least 90 days with a minimum of one of these days occurring during a time of war meet the length of service eligibility requirement.
This benefit will provide you with a monthly check if you become unable to attend to your own daily needs at some point in time.
Veterans have some unique opportunities as they are planning for the future. If you would like to implement a comprehensive plan for aging as a veteran, don't hesitate to pick up the phone to arrange for a consultation with a good Redlands retirement planning attorney.