Posted on 01/06/2014 1:49:06 PM PST by SeekAndFind
The media needs to get their story straight. Are jobs improving under Obama or aren’t they?
Smell testing...what is the retirement pay for a full colonel after 30 years? I don’t know, but I suspect I could live pretty well on it. Is sleeping in a van a CHOICE?
Of course the bottom line of the article is to show how poorly the economy is doing, but it does raise questions.
I think I would STILL stop paying
It would take at least one paycheck before they caught me and I know I could do a lot with 6 or 7 K
Let 'em chase me.
He may not have a choice.
Read the article and the other responses on the thread. His pension is being eaten up by legal obligations to his ex and kids.
I am a retired Colonel. I hired a retired Sergeant First Class who had worked for me and made him go finish his degree. He now makes three times what I make, has his own company, and is the better man.
The big problem with Colonels and Generals is that many do not want to do the real work that you have to do in the business world.
I’ve known several and do see some of that. One was an Army O6 who simply could not deal with people. If he couldn’t order his way out of it he simply could not deal with it.
A couple others were excellent leaders but had forgotten how to do any real work. A few were simply outstanding.
Not too much different than the enlisted.
Read the article????
heretic!
I am 65 and have spoken with several firms about the same and they like that I am older. They get the work and the experience but they don't take a risk re: employment.
“Bills. Bills.”
Yes, but he could go bankrupt; and if my parent were homeless i’d do something about it- I wouldn’t just expect them to keep paying for my school.
still,it is scary this guy can’t find a job.
We may be missing something here, substance abuse or something like that.
still, these stories terrify me, i’m middle aged, looking for work, and not having much luck.
“There is no reason he should be homeless, unless gambled it all away or something”
but you get your pension month-by-month don’t you?
That would depend on whether he could legally access it before he should have. My father worked for the Canadian federal government and he was allowed to borrow from it for retirement age, which he did to get a down payment for a house. He was also allowed to pay it back and could even buy points to increase his pension size when he did retire.
RE: what is the retirement pay for a full colonel after 30 years? I don’t know, but I suspect I could live pretty well on it. Is sleeping in a van a CHOICE?
Here’s the Armed Forces retirement calculator
http://militarypay.defense.gov/mpcalcs/Calculators/compare.aspx
For reference:
http://military.answers.com/military-benefits/retirement-pay-for-a-colonel-in-the-u-s-military
If a colonel has 30 years, his or her base salary is $10,736.70 per month. If he or she has 20 years, the monthly base salary would be $9,529.80. If the colonel has been in service for less than two years, the base salary is $6,064.80.
Luke 16(KJV)
19 There was a certain rich man, which was clothed in purple and fine linen, and fared sumptuously every day:
20 And there was a certain beggar named Lazarus, which was laid at his gate, full of sores,
21 And desiring to be fed with the crumbs which fell from the rich man’s table: moreover the dogs came and licked his sores.
22 And it came to pass, that the beggar died, and was carried by the angels into Abraham’s bosom: the rich man also died, and was buried;
23 And in hell he lift up his eyes, being in torments, and seeth Abraham afar off, and Lazarus in his bosom.
24 And he cried and said, Father Abraham, have mercy on me, and send Lazarus, that he may dip the tip of his finger in water, and cool my tongue; for I am tormented in this flame.
25 But Abraham said, Son, remember that thou in thy lifetime receivedst thy good things, and likewise Lazarus evil things: but now he is comforted, and thou art tormented.
26 And beside all this, between us and you there is a great gulf fixed: so that they which would pass from hence to you cannot; neither can they pass to us, that would come from thence.
Alimony to Wife #1
Alimony to Wife #2
Tuition to the children of Wife #1 and Wife #2
It all adds up. That said, I will bet that this guy bills a very high price as a 1099 consultant, although times may be tough with sequester and budget cuts. It’s a tough world out there, you have to adapt.
There should be some kind of clause that states that ex-spouses are not entitled to money in military pensions. His wives were not out there laying their lives out on the line for our nation.
As for the kids, make those brats pay their own way through earning it, not mooching off of their already burdened father.
I don’t disagree about the indie contractor route… I am just saying that being over 50 in this job market is risky at best. I put it down to the ignorance of the ‘younger’ set thinking that they know it all and us old ‘fuddle duddies’ can’t compete. How little they know
The market is learning that we old coots bring a whole lot of wisdom and knowledge. We are a lot smarter than they are!
As an employer I have to agree with you. Many companies won’t hire people older than 48. Partially because of the protected class rules making it very difficult to fire them.
I’ve found that some older people are pretty set in their ways and refuse to be flexible.
Your numbers on 75% of O-6 base pay would be correct if he retired from Active Duty. An Active Duty retirement requires a min of 20 yrs or @ 7200 days of Active Duty for 50% pension. The Colonel may be a Reservist/National Guard Retiree..... If he is less than 60, he would be a “grey area” retiree...His pension won’t start until he hits 60. When it does start, it will be whatever percentage of 20 years of Active Duty he has completed. For example, if he had 6 years of Active Duty during his 30 year Reserve Career his retirement pay will be (6/20)*(50% of final base pay). Not a bad annuity value, but it is not as good as an Active Duty retirement and it does him no good until he starts receiving it at age 60.
Of course, the other comments on alimony, child-support, and college expense could all apply also to a full retirement in this case.
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