Step 1: Calculate the SBP Probability
The first question I always get from retiring Military is this: "Scott, is the Survivor Benefit Plan worth it? I've done all the calculations about the cost of SBP, and it seems like a raw deal. But how do I know for sure?"
It's a great question and more importantly one that can mean the change of 100's of thousands of dollars during the first 30 years after military retirement.
In these series of videos and articles about the Military Pension Protection System called the Survivor Benefit Plan we outline everything the Government isn't telling you about these programs.
You'll be shocked... be warned. But you deserve to be able to answer the question: is the survivor benefit plan worth it?
First, you need to learn what the Survivor Benefit Plan actually is, and why you've been misled about how it works and what your real options are.
Next, you will learn about how the current alternatives aren't much better.
Finally, we will show you a modern and efficient solution that solves all the problems that the government and status quo financial planners simply can't offer. We call it the Survivor Liberty Plan. And it's really easy to see how you qualify.
It's quite simple actually.
We just need to answer the question, "what is the probability that I or a member of my family will receive a benefit from my investment of 6.5% of my pension into the survivor benefit plan?" (If you didn't know that was the cost, don't worry, more on that in a future email).
If you are satisfied with your answer to that question, then you can be sure you'll be satisfied with whatever decision you make. Because the important thing to know is that once you make a decision about SBP, there is little recourse in the future.
I made this short video to help give you some context about how you should think about the probability of getting any benefit. Watch this now to get a better idea how to determine if the survivor benefit plan is worth it to you.
Most likely, you'll discover that even if you're relatively healthy (don't listen to the VA, you aren't that broken) that you can do better on the free market.
Want to find out for sure? I'll walk you through it so you don't have to waste your time. In just 30 minutes we can we can help you determine if the SBP is worth it. Too easy.
Is the Survivor Benefit Plan Worth It?
Here's How to Find Out:
- Complete a Survivor Benefit Plan Analysis and Discovery Call
- Apply for Qualification
- Redirect Future government benefits for funding.
That's it. The other "experts" make it much more complicated than it needs to be. And furthermore, they miss the point when educating you on what you need to know to make a decision.
That's why we created this series of videos, the SBP white paper guide, and a number of webinars and additional trainings. We got sick of our entire military community being fed outdated information and cookie cutter solutions meant for the masses.
We will start off in today's video to talk about probability.
If you want to calculate your own probability you can either contact us and we'll walk through it with you together or you can visit the DOD department of the Actuary and download the calculators.
The reality is this. There is never a 100% chance of a return on investment. For most retiring veterans and spouse the probability quickly drops to below 50%. This means that you would have no idea if you were to get a return on your investment at all.
Unfortunately, most are told not to think of it as an investment. Instead to think of it as a cost. That is a horrible way to approach valuing your Military Retirement Pension.
At US VetWealth we are the only firm that isn't concerned about your death! Let's talk about how to maximize every dollar that you've earned from your pension instead of paying back to the government as a death tax to the current veteran widows. You should be responsible for paying their pensions. It's not right when the government can easily print money to pay them so that you can keep more in your pocket.
However, they won't change. Is the Survivor Benefit Plan worth it? More often than not, the answer is no and its up to you to take responsibility for protecting your pension and guaranteeing a return on investment. With the Survivor Liberty Plan, we have that solution!