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RandomMrdan's avatar

Can you help me estimate what I'd expect for retirement as a guardsman?

Asked by RandomMrdan (7372 points ) January 11th, 2014

I’ve never really had a firm grasp on how the retirement pay structure worked for retired guardsmen.

I sometimes wonder what’s keeping me in the guard… and the answers are typically retirement, educational benefits, and seeing friends I wouldn’t ordinarily see.

I suppose what I’m asking is… Upon completing my college degree, would it be worth staying in the guard until retirement? Can you help me figure out how much I’d realistically expect to receive after 20 years of service? For the sake of helping me come up with a figure, let’s assume I retire as an E-7.

Any words of advice or personal experience would be greatly appreciated.

Thanks.

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6 Answers

Yetanotheruser's avatar

I have a friend who is retired with some reserve time, and I’ll be watching the game with him tomorrow. I’ll check and see if he has my insights.

talljasperman's avatar

In Canada you get +2% per year to a max of 50% when you turn 65 with 25 years of service. Maybe you will get a similar pension.

johnpowell's avatar

To be perfectly honest I think projecting that far out in the future is foolish. You never know what the political landscape will look like in 20 years. You will probably be the first to get slashed out of the military when it is time to actually pay-up.

RandomMrdan's avatar

@johnpowell No offense, but worrying about a political landscape is a terrible reason to not plan for a retirement or at the very least ask questions about what benefits I’ll actually have. That’s similar to thinking… The stock market may crash again, so I’m not going to do a 401k or Roth IRA.

And as to how far ahead I’m actually looking… I’ve been in for over 8 years and should be allowed to retire after 20 years of good service. So, I’m nearly halfway there. I don’t see anything foolish about asking how much I can expect from retirement.

Jaxk's avatar

I found this write-up but it sounds a little complex. Nonetheless, it may help.

HenryFussy's avatar

Ask your commanding officer to refer you to someone in the service who specializes in answering these questions. There should be an officer available to you to help.

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