Financially Fully Mission Capable for the Long-Term? A Strategic Look at Military Retirement

Authors

  • Jeff S. Bredthauer University of Nebraska at Omaha
  • William W. Jennings United States Air Force Academy
  • Thomas C. O’Malley United States Air Force Academy
  • Brian C. Payne University of Nebraska at Omaha

DOI:

https://doi.org/10.33423/jabe.v26i3.7096

Keywords:

business, economics, financial planning, retirement readiness, military personnel, fully mission capable

Abstract

We create a retirement pay multiple (RPM) to assist military service members, at any point in their career, with determining whether they are on track to retire and maintain their living standard. This strategic financial planning tool helps these servicemembers assess whether they are fully mission capable (FMC) in their personal financial lives. The RPM incorporates myriad relevant financial factors, including taxes, Social Security, participation in the Department of Defense’s recently established Blended Retirement System (BRS), actuarial life expectancy, inflation, and military pay growth rates. An associated online calculator also permits customization of these factors.

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Published

2024-07-12

How to Cite

Bredthauer, J. S., Jennings, W. W., O’Malley, T. C., & Payne, B. C. (2024). Financially Fully Mission Capable for the Long-Term? A Strategic Look at Military Retirement. Journal of Applied Business and Economics, 26(3). https://doi.org/10.33423/jabe.v26i3.7096

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Articles