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Retirement Tips For Navy Officers

Working in the navyis among the most mentally and physically demanding professions. You must have a sound mind in a sound body to work in extraordinary conditions. Most people often join the armed forces out of love for their country. Although they are fully compensated for their services, life after retirement is a completely different picture. Financial and health-related problems may surface as you age and transition into a new routine. So, to make the most of your post-retirement life, here are some useful tips you can follow.

Fulfill separation prerequisites

Navy officers often have to undergo a lot of paperwork before retiring. They might have to sign for a self-assessment exercise, learn about entitlements, and more. They mustundergo an individual transition plan at least a year before retirement. All such requirements must be fulfilled if you want your retirement process to be a breeze.

Get checked for mesothelioma

Navy officers are likely to develop mesothelioma – a fatal cancer caused by inhaling asbestos.Previously, asbestos was a common component of navy vessels and military equipment. Although its use is banned in lethal quantities, navy officers who served during the mid and late 1900s are still at risk of developing this cancer.

So it’s best to get screened for this disease ASAP.If you’re too late, you can seek compensation from mesothelioma navy veterans centersto secure funds for treatment. This will help you improve the quality of your remaining retired life.

Join TAPs

Transition Assistance Programs (TAP) are tailor-made to help military veterans translate their skills into civilian jobs. These programs can also assist you in honing your financial literacy while opening new doorways for more employment opportunities. Besides, don’t forget to undergo a medical and dental exam three months before your retirement date.

Find a new job

You might have to look for a new job once you jump off the ship. Although military veterans are paid pensions as a reward for their lifelong service in the military, it might not be enough. With the increasing inflation worldwide, you might have to work after retirement if you wish to pay your bills.

Perhaps a better way to land a new job is to assess all the skills you have acquired throughout your career. Once you list them down, determine which one of them can translate into a civilian workplace. One thing to note is that the sooner you start looking for a job, the better. Ideally, you should start looking for a new job six months before retirement if you wish to work after retirement.

So, where do you start looking for a job? The internet is your best friend in this regard. You can use online resources and websites that enlist job opportunities for military veterans and see if it helps. You can also read the newspapers or contact your friend who has just joined a civilian job as a military veteran. You can also consider attending job fairs to improve your employment chances soon after retirement.

Accommodation considerations

As per the government policy, you are entitled to government-paid accommodation anywhere you move in the US. But applying for loans isn’t a bad idea if you are considering buying a home. As a navy veteran, you are eligible for VA loans that can be extremely beneficial compared to conventional mortgages.

VA home loans are government-backed loans that are part of their housing scheme throughout the US. Under this scheme, you are entitled toa VA home loan on attractive terms. For instance, the Navy Federal’s VA loans are free from any requirements such as down payments or private mortgage insurance. Also, they are available at low-interest rates, making it a win-win situation for you.

Health insurance

Taking care of your health should be your utmost priority once you retire from the military. Active duty personnel has the luxury of enjoying health insurance the federal government sometimes offers. But after retirement, these perks might not be available.

Therefore, you might want to enroll yourself in a health insurance plan from a reputable insurance company. You can decide between numerous coverage options such as dental and vision insurance and the plan’s duration. This will help you take care of any medical costs that are payable post-retirement.

Retirement budget and expenses

One of the most crucial aspects you must consider is assessing your retirement budget. Your retirement income or pension would differfrom what you earn on active duty. So, if you are not looking to work after service, you must keep an eye on how much monthly income you can expect. Likewise, you should consider all the expenses you might have to pay from that income.

For starters, you will have to estimate the total monthly income you will receive post-retirement. This includes non-disability pay, income from another job, or investment money. Once done, you must figure out how you wish to spend that money while covering all the expenses.

You might have to create a list of all your monthly expenditures such as accommodation, utilities, food, clothing, commuting, health, and numerous insurances. You might also have to consider any debt payments, savings, subscriptions, and miscellaneous tax payments that are due monthly. This will help you keep track of your monthly expenses after retirement while allowing you to spend your money mindfully. Don’t forget to factor in any moving costs if you plan to move to another location.


Working as a navy officer is something to be proud of. But while you must keep an eye on your country’s enemies, you must also prepare for life after retirement.This article mentions a few tips to help you get started. With careful consideration, you can enjoy a healthy life free from financial woes.

Written By

Wesley Hornbeck writes SEO articles for businesses that want to see their Google search rankings surge. His articles have appeared in a number of e-zine sites, including EzineArticles, ArticlesBase, HubPages and TRCB. His articles focus on balancing information with SEO needs – but never at the expense of providing an entertaining read. When he is not writing, he is found playing his guitar at the seashore.

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