Patrick Weichert: Retirement Planning for Veterans

Patrick Weichert is a veteran of the United States Marine Corps, and people who serve our country make many sacrifices. There are no words to express the debt of gratitude that we owe to these brave men and women, but they are rewarded with some useful benefits that can make life easier for them when they are senior citizens.

If you remain in the military for at least 20 years, you become eligible for a retirement pension. The exact amount of your pension benefit will depend upon the length of service, so the longer you serve, the higher your benefit will be up to a certain point. The existence of the military retirement pension can provide service members with retirement planning options, and this is something that Patrick Weichert is well aware of as a former Marine. Many people join the service when they are quite young. To provide an example, let’s say that you enter the military when you are 18 years of age right after you graduate from high school. If you stay on active duty for 20 years, you will be 38 years old, and you will have two decades of military experience on your resume.

At that point, you could choose to retire from the armed forces and begin a career in the private sector. You would be eligible for a pension, so you could potentially live on your salary at your new job while you save your pension benefits for the future. Of course, it would also be possible to stay in the military beyond 20 years so that you receive a larger pension when you do in fact put your career behind you. This is just one military benefit, but there are others, and Patrick Weichert advises veterans about them through the work that he does for the Veterans Benefit Network.

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About Patrick Weichert

Patrick Weichert is a clinical psychologist. Post traumatic stress disorder is one of his areas of specialization.
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