Although I am still early in the process, I’ve already learned a few things about the transition from the Army back into the civilian world, so I thought I’d share.
Post-military Job Tools: (Unlike some people may think, military retirement does not bring an instant tax-free, work-free life of leisure. Retirement pay is realistically somewhere between 1/3-1/2 of our normal monthly income while on active duty.)
- Savings: You will need money during the transition, start saving early and wisely consider whether or not to make large purchases like a vehicle or house right before exiting.
- Credentialing Assistance (CA): The Army has a program which provides up to $4,000 per year for a soldier to earn or renew a credential. It covers training, books, fees, and exams. This program is not for college education, that is the Tuition Assistance (TA) program, but they do use the same pot of $4,000, so decide which one you want to use. If you are an officer or warrant officer, the CA program does not incur an additional duty service obligation, but TA does.
- LinkedIn Professional: I know we hear it all the time (from other soldiers), that a Top-Secret security clearance is all you need, and jobs will be thrown at you. Or that as leaders, businesses are always looking to hire us to “solve their problems.” I’m not banking on those ideas. Look at LinkedIn and start connecting with people. Talk to people and discern what you want to do as a career once you are out of the Army. As part of this, LinkedIn offers a free year of their Premium level and their LinkedIn Learning. Just go to this link: https://socialimpact.linkedin.com/programs/veterans/premiumform.
- American Corporate Partners (ACP): As part of the networking/connecting portion from the LinkedIn bullet, there is being mentored. I’m not talking about the loose term of mentorship often used in the Army. I mean someone who has really walked in the steps you think you want to take and who is willing to share his/her time with you to help you:
- Learn the areas you need to improve.
- Network and meet people in the field in which you are interested.
- Create a good foundational resume which can be focused on SPECIFIC job applications.
- Conduct informational interviews.
- Practice your interview skills.
Take a look at ACP and sign up to get a mentor for a year. https://www.acp-usa.org/
Post-military Life: As mentioned earlier, your retirement pay will only be a portion of what you have been used to living on. There is one more thing to consider and discuss with your spouse. It is called the Survivor Benefit Plan (SBP). I know most of us never heard of this until we began looking into retirement. Here’s the deal, it is basically insurance you are paying the government (based on your retirement pay) so that if you die first, your spouse will continue to get ½ of your retirement check. Yes, you heard that right, your retirement check stops when you die, unless you pay the monthly fee for SBP.
Once you make the decision to purchase or refuse SBP and then you exit the military then that is it. There are typically no second chances. (Yes, this year Congress did put a rule in the NDAA giving retirees a second chance to sign up for SBP or refuse it.)
Another thing to consider while you are relatively young and in good health (read as before your retirement physical and before you get a CPAP), look into getting life insurance through a civilian insurance agency. I like term life insurance, but that is for you to discuss with your spouse.
Communication is Key: You’ve read the words a few times throughout this post “discuss with your spouse.” Retiring is a team sport. Your team is your spouse and kids if they are still in the house. Communicate early and often. If you don’t communicate well now, then get help and learn to communicate before it is too late. Your family is the most important thing you’ve got besides a relationship with Jesus Christ.
These are just a few of the tools I’ve discovered over the last few months in this transition. I’ll share some more things as I figure them out.