004: If you had to choose between 100 cups of wine vs. 55 cups of wine, which one would you pick?

How important is it for you and your family to protect the military pension? Jen Amos recaps how the military pension is more than a retired monthly pay by reiterating the wine analogy. Remember to refer to the last episode to learn how to calculate your Estimated Retired Pay, Total Retirement Benefit, and Present Value. Jen continues to explain what these numbers mean and how they relate to understanding the Survivor Benefit Plan.

Additional Notes:

• "Eligible Dependents" and "Beneficiaries" are synonymous, in the context of this recording. To learn more about who is eligible to receive the SBP, visit https://militarypay.defense.gov/Benefits/Survivor-Benefit-Program/Costs-and-Benefits/
• The "Premium" (i.e. the 6.5 cups of wine taken from your 100 cups of monthly wine from your Monthly Barrel or Wine -- a.k.a. Monthly Retired Pay) is the automatic fee a retiree invests into the Survivor Benefit Plan. Right now, SBP "premiums" for spouse coverage are 6.5% of your chosen base amount. To read more, visit https://militarypay.defense.gov/Benefits/Survivor-Benefit-Program/Costs-and-Benefits/Spouse-Coverage/

Resources (in the order they were mentioned)

• FREE MONTHLY LIVE ZOOM DISCUSSION How to "Pre-Fund" Your Military Retirement Pay Protection with a Private Spouse & Family Plan Without Paying for the SBP hosted by US VetWealth https://usvetwealth.com/sbp-online-workshop-lp/
• What do I really need to understand in navigating my military retirement pay and making a decision about the Survivor Benefit Plan? Download US VetWealth's free white papers to find out: (If the link isn't provided here yet, please contact Jen at jen@usvetwealth.com for access.)
• What is an annuity? https://www.nationwide.com/lc/resources/investing-and-retirement/articles/what-is-an-annuity
• Survivor Benefit Plan Overview https://militarypay.defense.gov/Benefits/Survivor-Benefit-Program/Overview/

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ANNOUNCEMENT: As of summer 2023, The Spouse Benefit Plan by US VetWealth podcast will be on hiatus. For a continuation of the Survivor Benefit Plan discussion, we invite you to join US VetWealth's FREE resource hub, Military Retirement Blueprint, which also includes a FREE digital copy of Scott R. Tucker's latest book, Don't Forget Your War Chest. Join today by visiting https://usvetwealth.com/war-chest-learning-center-access-the-military-retirement-blueprint/

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Check out our growing list of resources at our website thespousebenefitplan.com or contact Jen at jen@usvetwealth.com

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The Spouse Benefit Plan has been appeared or featured in M.E. Magazine, The Leadership Void Show, USVW TV, Military Money Mistakes, Lessons Learned for Vets Podcast, Get2Vet Podcast, ShoutoutSoCal and The Rosie Network's 5th National Veteran & Military Spouse Entrepreneur Awards.

This show is intended to be educational and not to be taken as financial advice. To discuss your unique financial situation, reach out to our show sponsor, US VetWealth at USVetWealth.com or email Jen Amos jen@usvetwealth.com

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Want to hear more from Jen? Check out our sister show and award-winning podcast, Holding Down the Fort https://holdingdownthefortpodcast.com/