Question

Question #2 for the day. I will be transitioning from active duty military service to the reserves in 2022. I have a masters degree and good job prospects. My husband will graduate with his engineering degree that year and should also have good opportunity ahead. That being said, we are preparing for the financial impact of the transition. Has anyone survived the leap from active duty to civilian/reservist life? Do you have any tips for how to prepare our finances? What expenses should be expect? What should we plan for in terms of housing options? All perspectives welcome.  

Answer 1

Medically: Get your medical (physicals/eye exams) and dental (cleanings/cavities, etc) set up and completed before separating. Even if you qualify for VA medical care, that care does not include any dental coverage unless you have a really high disability rating. The cost for dental repair is ridiculous even if you have good insurance. *side note: make a physical copy of your medical and dental record for your keeping and DO NOT give it up to anyone. If you want my story you can always PM me. Financially: Pay off all of your debt and save as much as possible. Make a realistic budget off that savings amount for the whole year with the assumption you won’t have any additional income coming in and stick to it. Anything left over can be kept in savings or go towards retirement. I found it difficult to transition from that twice a month paycheck to nothing (started college). An expense that has probably changed was that I had to pay for the moving expenses out of pocket which was then reimbursed a couple of months later.  

Answer 2

Following. Similar transition plan but for 2021.  

Answer 3

We make so much more in the civilian sector. It can be intimidating, but it'll generally work out that way for anyone with a degree and transferable skills. Get your VA disability claim done ASAP, even if you only have one or two things. Choose wisely where you'll set down roots. Look at cost of living, property market, job market, etc.  

Answer 4

Thank you for your service!  

Answer 5

Hello, I did the transition March of last year. If you are transitioning to the reserves through a CTO then as soon as your paperwork goes through your entire family is eligible for the reserve Tricare select plan (flat rate of about $215 /month). Each state has UTX which is veterans unemployment and can cover you for up to 26 weeks. You cannot receive UTX and the GI Bill together. I took advantage of the O2O: Onward to Opportunity to work towards my PMP certification (free for military). There is also certs in human resources and IT. Every situation is different. Do you have family to stay with for a bit? That always helps while you are getting sorted. I took 6 months and decided to live in a 1990 VW van and drive from PA to Urguay because you know, priorities.  There is alot that comes with the transition process and I feel I set myself up very well so you can PM me to discuss further. There are alot of elements to cover and I asked questions in this community and had veterans reach out so I am happy to return the favor!