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Volume 32, November 2014

The Retirement

Issue

SOLDIER & FAMILY TOOLKIT 1/34 ARMORED BRIGADE COMBAT TEAM

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IN THIS ISSUE

From the Editor: Thanks for reading our Soldier Family Toolkit. The intent of this toolkit is to pro-vide you with available events, deals, resources, and important information. This month’s issue is about retire-ment. Many people reading this may be living paycheck to pay-check. If so, there articles on being behind on bills and on budgeting. Have a nice Veterans Day and thanks for reading.

3 BEYOND THE YELLOW

RIBBON EVENTS & DEALS

4 COLORING PAGES

6 VETERANS DAY DEALS

10 MILITARY ONESOURCE

ARTICLES

15 BEHIND ON BILLS

16 BUDGETING 101

17 RESOURCE LINKS

18 FAMILY ASSISTANCE

CENTERS

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Check out the Beyond the

Yellow Ribbon website and

sign up for exclusive email

updates on monthly local

Beyond the Yellow Ribbon

events and deals.

HOME FRONT EVENTS & DEALS

www.BeyondTheYellowRibbon.org

Prayer Breakfast When: Nov. 6, 7 a.m.

Where: Prom Center, Oakdale

About: The Oakdale - Lake Elmo Area Prayer Breakfast

and Veterans Day Celebration is patterned after the Na-

tional Prayer Breakdast held annually in Washington D.C.,

and is designed as a time of prayer for our city, state, and

nation, our leaders, and as a time of rededication of indi-

viduals to God. A complimentary breakfast for veterans

has been sponsored by Slumberland Furniture Company.

More Info: Flyer

Taco Bar, Raffle & Live Music When: Nov. 8, 4 p.m. to 8 p.m.

Where: Plymouth/Hamel VFW Post #5903

About: Help support Servicemembers and their families by

atttending the Taco Bar, Raffle and Live Music event

hosted by the Plymouth Beyond the Yellow Ribbon Net-

work.

More Info: Flyer

Duluth's Military Appreciation Week When: Nov. 9 to 15, 2014

Where: Participating hotels, stores, and restaurants.

About: The Mayor of Duluth has agreed to proclaim Du-

luth's Military Appreciation Week November 9-15 with

discounts at participating hotels, stores, and restaurant.

More Info: Flyer Website

Operation Wedding Gown When: Nov. 11, 2014

Where: Charlotte's Bridal & Formal, La Crosse, WI

About: Brides Across America is proud to partner with

Charlotte's Bridal & Formal and would like to say thank

you to military brides by giving away free gowns valued

up to $5,000. Designers will vary and brides are encour-

aged to register early.

More Info: Flyer

Operation Wedding Gown When: Nov. 14 and Nov. 15, 2014

Where: Brandi's Bridal Galleria, New Glarus, WI

About: Brides Across America is proud to partner with Brandi's

Bridal Galleria and would like to say thank you to military brides

by giving away free gowns valued up to $5,000. Designers will

vary and brides are encouraged to register early.

More Info: Flyer

Minnesota Wild - Wild vs Sabres When: Nov. 13, 7 p.m.

Where: Excel Energy Center, St. Paul

About: Tickets for groups of 8 or more are available for purchase

on a first come, first served basis. All military personnel can pur-

chase a Lower Level single attack Corner or Endzone ticket for

select home games for $50 each. Individual tickets will be avail-

able at a later date. To secure tickets, contact Lindsay Weier, 651-

312-3495, lweier@wild.com This e-mail address is being pro-

tected from spambots. You need JavaScript enabled to view it

More Info: Website

Disney on Ice presents Worlds of Fantasy When: Dec. 11 to 14, 2014

Where: Xcel Energy Center, St. Paul

About: Rev up for non-stop fun with four of your favorite Disney

stories at Disney on Ice presents Worlds of Fantasy. Thrill to high

-speed stunts as Lightning McQueen, Mater and the crew of Dis-

ney/Pixar's Cars race across the ice. More Info: Flyer

Trans-Siberian Orchestra When: Dec. 30, 3 p.m. and 7:30 p.m.

Where: Xcel Energy Center, St. Paul

About: Trans-Siberian Orchestra (TSO) will wrap up 2014 by

performing their rock opera The Christmas Attic live for two

spectacular shows at the Xcel Energy Center. Discount tickets on

select seating is available until Dec. 19, 2014 online or via the

attached order form.

More Info: Flyer Website

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The following restaurants offered free food last year for Veterans in conjunc-tion with Veterans Day. Not all offers occurred on November 11th. Keep in

mind that the lines at these restaurants can be very long. Please call ahead to verify all of the details. Some restau-rants may require a coupon or a code

to receive the offer. Applebee’s Free meal - Nov. 11 Applies to: Veterans and active-duty military Applebee’s offers a special dine-in-only menu for Veterans Day.

Baker’s Square Get a free slice of pie to Veterans and active military, California Pizza Kitchen Contact store for details. Champps Free cheeseburger and fries to Veterans and active military, Chili’s Free meal - 11 am to 5 pm, Nov. 11 Applies to: Active duty and veterans Chili’s is offering a choice of one of six meals on a dine-in-only basis. Beverages and gratuity not included. Denny’s Free AYCE Pancakes - Nov. 11 Applies to: Active military or veterans Available only at participating locations. Famous Dave’s Free or discounted meal - Nov. 11 Applies to: Active military and veterans Offer varies by location. Golden Corral Free meal - 4 p.m. to 9 p.m., November 11th, Applies to: Active military, veterans, National Guard or Re-serves The Golden Corral Military Appreciation dinner will be held at all Golden Corral Restaurants nationwide.

Grand Casino in Mille Lacs and Hinckley Free buffet. Check hours of service. Hooters 10 free wings (Drink purchase re-quired) - all day, Nov. 11 Applies to: Active duty and veterans Offer valid only at participating Hooters. Hy-Vee Free breakfast buffet - Nov. 11 Applies to: Active military and veter-ans Available at participating Hy-Vee grocery store with in-store dining. Krispy Kreme Free doughnut - Nov. 11 Applies to: Active duty and veterans Available only at participating Krispy Kreme stores. Little Caeser’s Free Crazy Bread with ID. Longhorn Steakhouse Free Appetizer & Drink.

VETERANS DAY DEALS

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McCormick & Schmick’s Seafood Restau-rants Free lunch or dinner entrée – Call for dates. Applies to: Veterans This is the 13th Annual Veteran’s Appreciation Event at McCormick & Schmick’s. Olive Garden All Veterans and Military Active Duty will re-ceive a choice of 1 of 5 entrees plus unlimited soup, salad and breadsticks. Outback Steakhouse Bloomin’ Onion and Coke – Call for dates. Applies to: Veterans and active-duty military Red Lobster Free appetizer to Veterans and active-duty military. 7-Eleven Free small Slurpee - 11.m. to 7 p.m., Nov. 11 Applies to: Active military and veterans

SUBWAY Free six-inch sub - Nov. 11 Applies to: Veterans SUBWAY restaurants are franchises, so this offer may not be available every-where. Texas Roadhouse Free lunch - 11 a.m. to 2 p.m., Nov. 11 Applies to: Veterans and active duty military Dine-in only. TGI Fridays Get a free Veteran’s Day Lunch. Applies to: Active duty military and vet-erans Tony Roma’s Those who have served and are cur-rently serving receive a free entrée. Treasure Island Resort & Casino of-fers a free buffet anytime Friday at the Tradwinds Buffet (1-800-222-7077, ext. 2640). You must be a Passport Club member, but it's free to join and you can

Tips Before Heading Out

Review the official site information and rules before heading out. Many websites are listing previous

years promotions that are no longer valid. We link to the official information.

Be sure to bring proof of military service, uniform photo or be in uniform. Proof of military service

varies by company. See the list of states now offering a Veterans designation on a driver’s license.

Pay attention to the dates on the Veterans Day offer as some offers are for the weekend or extended

over several days.

Many of the restaurant free meals are for dine in only.

Many of these promotions include small print that says participating locations only. Unfortunately,

individual franchisees may choose not to participate. Fortunately, some franchisee’s participate even if the

corporate company does not.

Call ahead if you’re unsure about anything.

Thank you for your service!

VETERANS DAY DEALS

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MILITARYONE-SOURCE ARTICLE

Roth TSP Investments: Making Your

Retirement Dollars Work For You

Having an understandable retirement strategy can make saving for retirement easier and less stressful. As a service member, you may already be familiar with the tax advantages of the traditional Thrift Savings Plan. Now there's a new TSP tool that offers a different way to save for retirement: Roth TSP. To figure out whether the Roth TSP is a good fit for you, you need to know how it works, how it differs from a traditional TSP contribution and the potential benefits. Equipped with the right knowledge, you can be sure you are making the best decisions for your future retirement!

How the Roth TSP works

The TSP is a retirement savings plan for federal employees and members of the uniformed services similar to the 401(k) plans offered by many private employers. Traditionally, participants invest pre-tax dollars into their TSP accounts. With the Roth TSP, participants have the option to make Roth contributions, allowing participants to invest after-tax dollars into their TSP accounts. Roth contributions are taken out of your paycheck after your income is taxed. Since you pay taxes on the money before you invest it, you receive the money tax-free when you withdraw funds. You also won't have to pay taxes on any earnings, as long as you're at least 59.5 years of age, disabled, or deceased (in which case your beneficiary will not have to pay taxes on earnings), and your withdrawal is made at least five years after the beginning of the year in which you made your first Roth contribution. Simply put, the Roth TSP option is just one more way for you to customize your retirement plan. You can continue to invest in TSP with your pre-tax dollars, but now you also have the additional option of making after-tax investments. You can elect to make Roth TSP contributions in the same way you have always elected to make traditional contributions, using either the electronic system of your agency or service, or by filling out the proper TSP forms.

How the Roth TSP differs from the traditional TSP

Before you decide on the best investment strategy for you, you really need to understand what makes these two investment options different:

Contributions - When you contribute to your traditional TSP, the taxes are deferred until withdrawal,

so less money is taken out of your paycheck. With Roth contributions, taxes are paid up-front, so more

money comes out of your paycheck.

Withdrawals - When you withdraw funds from your traditional TSP, you will have to pay taxes on the

money, as well as the earnings it has accrued. With Roth contributions, you have already paid taxes on

the money, so you can withdraw it tax-free, along with any earnings it has accrued (as long as you meet

the requirements noted above).

Tax Breaks - Traditional pre-tax contributions lower your current taxable income, so you get a tax

break today. With Roth contributions, you pay the taxes up-front, so the full amount of your contribution

comes out of your paycheck now, but you will not pay taxes on the money or earnings (as long as the

rules are met) when it is withdrawn.

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MILITARYONE-SOURCE ARTICLE

Roth TSP Investments: Making Your

Retirement Dollars Work For You

Electing to make Roth contributions is not an all-or-nothing decision. You can contribute to both your Roth and traditional TSP balances. Contribution limits for 2013 are $17,500 for the combined total of your Roth TSP and tax-deferred traditional contributions. If you are at least 55 years old, you can make "catch-up" contributions up to $5,500. If you are receiving Combat Zone Tax Exclusion benefits, the limit is $51,000. In addition, Roth and traditional TSP contributions do not prohibit you from contributing to a Roth or Tax Deductible IRA, if you are otherwise eligible.

Deciding what to do

Here are some considerations:

Your current tax rate - It all comes down to whether you would be better off paying your taxes now

or later. As you make your decision, think about your current income level and tax rate and what you ex-

pect they might be when you retire. Here are some instances when the Roth TSP contributions might be

a good option:

You are in a low income tax bracket now and think your tax rate could be higher in retirement. With the

Roth TSP, your contributions are taxed at your current lower rate and you avoid paying taxes at a higher

rate in the future.

Regardless of your current tax bracket, you believe your tax rate will increase in the coming years.

Your career path - If you are in the early years of your career and you expect your future income to

increase considerably, paying the tax now on your TSP contributions might make sense. In addition, if

you are a service member making contributions from tax-exempt combat pay, you will not pay taxes on

either your Roth TSP contributions nor their earnings (as long as you satisfy the requirements men-

tioned in the first section of this article).

The new Roth TSP feature gives you the ability to select the tax treatment that best fits your individual needs. Active-duty military members who decide to make Roth TSP contributions can submit a contribu-tion election, either electronically through MyPay or manually by submitting form TSP-U-1 to the local mili-tary finance office indicating what portion of their TSP contributions should be designated for a Roth IRA. Federal government employees should access their electronic pay system or manually complete form TSP-1. Reservists and National Guardsmen not on active duty will be able to contribute to a Roth TSP beginning in August 2013. This delay ensures that their financial pay systems will meet the requirements of the Federal Retirement and Thrift Investment Board. To learn more about Roth TSP, visit the TSP website. There is an easy-to-follow introduction video and helpful newsletter with additional information. Be sure to seek the advice of a qualified tax or financial ad-visor for help deciding whether the Roth TSP is right for you. You can meet with a personal financial man-ager through your installation. For contact information visit MilitaryINSTALLATIONS and select "Personal Financial Management Services" in the "Looking for specific program or service" box. The more you learn about your retirement investment options now, the more prepared you will be when the day finally arrives!

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MILITARYONE-SOURCE ARTICLE

4 Things to Consider When

Retiring From the Military

Retiring from the military is a big step. You'll have many decisions to make for both you and your family as you plan for civilian life. Before you retire, you'll need to take a look at your retirement pay and benefits in order to plan your post-retirement budget. You can also expect some lifestyle changes as you trade in your military uniform for civilian clothes.

Separation requirements

As you begin the retirement process, give yourself plenty of time to complete all of the tasks that are required before you separate, including:

Pre-separation counseling - Required by law, pre-separation counseling must be completed

no fewer than 90 days before separation. However, retiring military members are authorized to

take the counseling as much as 24 months before their retirement date. You'll learn about medical

insurance, relocation assistance, life insurance, Department of Veterans Affairs benefits and many

other benefits and entitlements.

Transition Assistance Program employment workshop -Depending on your branch of

service, the Transition Assistance Program employment workshop may be mandatory. The work-

shop will include information on job-search strategies, resume; writing, interviewing skills, job of-

fers and salary negotiation.

Final medical and dental exams - Schedule your mandatory final medical and dental exams

with your installation's medical clinic 90 days before your separation.

Visit the transportation management office - As soon as you know where you're going,

schedule the move or storage of your household goods. Although retirees have one year after leav-

ing active duty to complete their final move, scheduling the move early will help ensure you move

on the date you choose.

Planning your retirement budget

Calculating your retirement pay is the first step in planning your budget. Retirement calculators, like the Military Pay Retirement Calculator, can help you estimate what your retirement check will look like. Keep in mind that these calculators do not include deductions such as taxes. A financial coun-selor in the military and family support center or through Military OneSource can also help you plan your retirement budget.

Retirement pay - Your retirement pay is based on several factors including when you first en-

tered active service. However, entitlements such as incentive pay are not considered when calculat-

ing retirement pay. There are three basic types of non-disability retirement pay:

Final Basic Pay is for service members with a date of initial entry to military service prior to Septem-ber 8, 1980.

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MILITARYONE-SOURCE ARTICLE

4 Things to Consider When

Retiring From the Military

High-three is for service members with a date of initial entry to military service between Septem-

ber 8, 1980 and July 31, 1986, and those with dates after August 1, 1986 who did not elect REDUX.

REDUX is for service members with a date of initial entry to military service after July 31, 1986

who accepted a mid-career bonus at the 15-year mark and agreed to remain on active duty for at

least 20 years.

Deductions - Federal taxes and state taxes (where applicable) will be withheld from your retire-

ment check. You should also take medical premiums, dental premiums and Survivor Benefit Plan

premiums into consideration when planning your budget.

Cost-of-living adjustments - Like your active duty pay, your retirement pay is adjusted annu-

ally based on the cost of living, helping protect your income against inflation.

Your benefits

Medical care - Retirees and their family members are eligible for the Military Health System, which includes TRICARE. Retirees must sign up for TRICARE Prime when they retire or they are auto-matically enrolled in TRICARE Standard. TRICARE also has an overseas program and a program for retirees who are covered by Medicare Part A and B. Details are available on the TRICARE web-site.

Dental care - Dental insurance is available to retirees through Delta Dental and TRICARE for a monthly premium. Retirees may enroll at any time after retirement at Delta Dental.

Relocation - Retirees are authorized a final move anywhere within the United States (including

Alaska and Hawaii) or to their home of record outside the United States. The benefits are available

for one year from your retirement date, but extensions may be granted. For more information, visit

the Relocation Assistance Program on your installation.

Survivor Benefit Plan - This program allows retired service members including National Guards-men and Reservists to provide, upon their death, a portion of their retired pay to a spouse or other eligible person. Like retirement pay, the SBP benefits are inflation protected. Every retiring service member with an eligible spouse or child is automatically enrolled in the SBP at the maximum level unless another election is made. If you don't want the maximum level, you must make the election before you become eligible for retirement pay. More information on SBP is available on the Mili-tary Pay SBP website or your installation's Transition Assistance Program office.

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MILITARYONE-SOURCE ARTICLE

4 Things to Consider When

Retiring From the Military

Life Insurance - Your Servicemembers' Group Life Insurance will continue for 120 days after you separate from active duty. You can convert your life insurance from SGLI to Veterans' Group Life Insurance within the 120 days (after 120 days you must provide proof of good health). Visit the Department of Veterans Affairs' Life Insurance website for more information.

Commissary and exchange privileges - Retirees and their eligible family members have

unlimited commissary and exchange privileges after retirement. However, in overseas locations the

privileges may be subject to Status of Forces Agreements.

The GI Bill® - Depending on the program, GI Bill® benefits can be used for 10 or 15 years after dis-charge. There are several programs available and your eligibility and available benefits will depend on your dates of service. For details on specific GI Bill® programs, visit the education office on your installation or the GI Bill® website.

Department of Veterans Affairs home loans are available to retirees, even after leaving the military - To be eligible, you must have served at least 24 months and have an honorable or gen-eral discharge. For more information visit the Department of Veterans Affairs Home Loan Pro-

gram or call 800-827-1000.

Challenges you can expect

For many military service members, leaving the military has unexpected emotional side effects. Here are some challenges you can expect and strategies that can help:

Saying goodbye to your military life - When you leave the military, there will be a time of

grieving for you and your family as you say goodbye to old friends. Keeping in touch with your mili-

tary friends and getting involved with your new, civilian life - will help you adjust quickly.

Finding a new job - Looking for a new job can put a tremendous strain on you and your family.

But with early planning, you may land a job before you retire. Attending a Transition Assistance

Program employment workshop (available through the installation program office on your installa-

tion) as much as two years before you retire will help you get started.

Lack of camaraderie at work - After leaving the military, many service members miss the ca-

maraderie they had with their fellow service members. Often the work environment in civilian

companies is much different from the military. Joining military organizations will help you connect

with other military retirees and help you keep up to date on retirement issues that may affect you

and your family.

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HEALTHY MONEY HABITS

BEHIND ON BILLS

Being behind on your bills is a terrible feeling. It leads to stress in all areas of life and can cause health prob-

lems. There are generally three reasons for getting behind on bills: emergencies, lack of income, and overspend-

ing.

Emergencies: Military Families that are experiencing emergencies should contact their local Family Assistance

Center for help. They are listed on page ___. The staff at these centers are familiar with the challenges that mili-

tary families face and can help them get on a plan.

Income: There are several options for people to increase their income.

Garage Sale: Having a garage/Craigslist sale can generate income quickly.

Better Job: People, regardless of their military status, can contact the MN Department of Employment and Eco-

nomic Development for help finding jobs and improving résumés. Go to mn.gov/deed for more information.

Extra Jobs: Sometimes, people need to work multiple jobs to make ends meet. There are lots of flexible jobs

that work around a primary job. Some ideas for these are: babysitting, dog walking, snow shoveling, tutoring,

cleaning, and raking leaves.

Education Benefits: Military Families are often able to use education benefits to get a better job and earn addi-

tional income at the same time.

Overspending: The heart of the issue for many people is overspending and poor prioritization. If can be so easy

for a person to spend more than they make or pay their bills in the wrong order. Many times, people will go to a

restaurant, Target/Walmart, Menards, and other stores on payday and get things they “need” only to find their

checking account is empty when they need to pay things like heat and rent. When my husband and I were brand

new homeowners, he found a new weight bench on Craigslist that he just had to have. In order to get it, we were

late on our mortgage payment, a decision that haunted our credit report for years. It can be very easy to pay lots

of little payments instead of one large one.

When we got behind on bills, we focused on the following priorities in order.

1. Groceries- If we had enough to eat in our kitchen, then onto #2.

2. Gas – If I didn’t have gas in my car, then I couldn’t get to work.

3. Heat/Electricity/Water- All very important things.

4. Mortgage/Rent- Having a roof over our heads was really nice.

5. Insurances/Other Necessities/Phone.

6. Secured Debt (Car loans)

7. Unsecured Debt (Credit Cards).

I made a list of all of the bills we were behind on and paid them one by one. I

remember the first month we were caught up on all of our bills; it felt like a

huge weight was lifted off of my shoulders. I was then overwhelmed by the thought that I had a mountain of

debt to work through, but we were able to do it and are almost debt-free. It is an amazing feeling and I wish eve-

ryone was able to know.

To do all of this, we needed to have a written monthly budget and stick to it. See the Budgeting 101 article for

more details.

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HEALTHY MONEY HABITS

BUDGETING 101

Picture from WDIO.com When I was in college and felt overwhelmed by finances, I asked a lady in my

church to help me learn how to budget. We met at her house for coffee and she ex-

plained her family’s ledger system (think Excel spreadsheets in a paper book). I was

even more overwhelmed and gave up on budgeting for awhile. Some books recom-

mend projecting your annual expenses and dividing them by 12. My husband likes

to keep things simple and I agree with him. There are lots of different financial ex-

perts that have different ways of budgeting and many of them disagree with each

other. I like to use a zero-based budget which is also what FRGs are supposed to

use. This is especially good for people with irregular income.

Step One- Find a notebook and a pencil with an eraser (okay a pen works too.)

Step Two- After the kids are asleep or at a babysitter’s house, sit at the kitchen ta-

ble with your spouse and agree to have a calm conversation. If your table is covered

with “stuff” or you are prone to yelling when the subject of money comes up, you

may want to find a picnic table in a park somewhere. If you are single, skip step

altogether.

Step Three- At the top of the paper; write the anticipated amount of your next

source of income. Example: $900 paycheck on Friday.

Step Four- Decide where that money should go and list the places in order of prior-

ity. See the Behind on Bills article for priorities. The total on the bottom should

equal the number on the top.

Example: Paycheck on Friday $900

Groceries $100

Gas $50

Rent $550

Car Insurance $100

Credit Card $50

Spending Money $50

Total $900

Step Five- If you and your partner are

still talking civilly at this point, you could try to do another paycheck. Once the list

is written down, you both have to agree that these are the only amounts of money

that are going to be spent. If something needs to change, you will both agree to the

change together.

Step Six- Once the essentials are paid for the month, and bills are caught up, it is

time to get out of debt.

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RESOURCE LINKS ARMY / NATIONAL GUARD minnesotanationalguard.com armyonesource.com militaryonesource.mil CHILDREN ADAPT: cehd.umn.edu/fsos/adapt operationwearehere.com mnchildcare.org ausa.org/family mdva.state.mn.us/child guardfamilyyouth.org militarykids.org DISCOUNTS beyondtheyellowribbon.org military.com/discounts/category EDUCATION education4military.com gibill.va.gov militaryonesource.mil militarychild.org EMPLOYMENT esgr.org mn.gov/deed FMLA: dol.gov/whd/fmla HEALTH / MENTAL HEALTH tricare.mil militarymentalhealth.org Counseling 24/7: militaryonesource.mil MARRIAGE AND RELATIONSHIPS Marriage Retreats: strongbonds.org militaryonesource.mil PARENTS OF SOLDIERS bluestarmoms.org operationwearehere.com/Parents.html PET CARE dogsondeployment.org netpets.org guardianangelsforsoldierspet.org SPOUSES & SIGNIFICANT OTHERS militarysos.com spousebuzz.com milspouse.com msccn.org nationalmilitaryspousenetwork.org STRESS MANAGEMENT militaryonesource.mil defense.gov/specials/stressawareness

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