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Posted over 9 years ago

Transitioning Careers - Military retirement

Hello All ;

 I have been on BP for a while now  and decided to start my blog to formalize some of my immediate and long term goals and strategy on how to achieve them.

I will be going through a career transition year this year as I retire out of the military.To date I have followed the basic REI plan most military do, buying a residence in each major duty station, and then renting out after I leave (PCS).This with the eventual end state of having those properties augment my retirement income. I have followed this the past 19 + years and currently have 5 homes (4 rentals and my primary residence) spread out over 5 states.  This is not the the ideal management scenario going forward.

So my way ahead, and purpose behind this blog,is to develop my 2015 and beyond plan (both near term and long term goals ) and a viable course of action to achieve them.  The Blog will force me to hold myself accountable in public forum, and ensure I don’t procrastinate on certain items and take some emotion of it . Also to get feedback and advice on certain goals and deals as they occur.

My next post will outline some of my immediate and long term goals, along with a brief synopsis of each property and what I am thinking about doing with it

Ken


Comments (3)

  1. Hi Ken, I think you have a great start! One of the strategies you can focus on is paying off those 5 rentals with the investments gains and you will end up with 5 free and clear homes, not bad.


  2. Ken

    Congratulations.  I have three more years before I punch out.  I have just started to think about what I want to do when I grow up and how to not fail at retirement.  (We have all seen the retiree who can't let go and can't move forward.). It's complicated.

    I look forward to reading your blog as you embark on this new adventure.

    Stephanie


  3. Hey Ken,

    Congratulations on your impending transition and thank you for your service.  I am coming up on 23 years myself and was intending to move on this coming summer but took one more set of orders to where my family wants to settle down anyway.  I wish I had been smart enough to hold onto a house in each place I was stationed--I'd be in pretty good shape.  But I suppose there is some peace in simply walking away with the money too.  I just bought my first buy-&-hold where I am stationed now and am hoping to rent out my residence when I PCS in March.

    Good luck and I look forward to your future blogs.

    -Vincent