Reserves as "retirement"

[punkedoutriffs]

Currently a working psychiatrist considering FIRE options for "retiring" in my 50's after becoming empty nesters. Will probably be ok financially if we live continue to live modestly, but healthcare remains an issue. I'm thinking of joining the reserves for Tricare and maybe a small, part time cash practice for something to do. I figure, if the kids are out of the house, I have no real other obligations, then deployments, whenever they do come, are not really that disruptive (provided I find coverage for my patients or maybe can just cover them remotely through ODE). Thoughts?

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[Nontrad_FL_LGBT]

Currently a working psychiatrist considering FIRE options for "retiring" in my 50's after becoming empty nesters. Will probably be ok financially if we live continue to live modestly, but healthcare remains an issue. I'm thinking of joining the reserves for Tricare and maybe a small, part time cash practice for something to do. I figure, if the kids are out of the house, I have no real other obligations, then deployments, whenever they do come, are not really that disruptive (provided I find coverage for my patients or maybe can just cover them remotely through ODE). Thoughts?

Do it now if you're going to do it. You retire with Tricare for life after age 60 if you do 20 years in the reserves. You don't keep the insurance after you're out otherwise so it would be useless for your retirement plans.

 

[armytrainingsir]

The reserves aren’t for everyone but it sure was good for me. Turned 10 years of AD with nothing to show for it into a decent check and Tricare has saved me tens upon tens of thousands.

Biggest perk I never really thought about is if your spouse is younger than you. My wife is 7 years younger than me, and per my friends in similar situations, buying them insurance after you go on Medicare is about 25k per year all in. When I hit 65, my wife’s Tricare will be less than 200 per year.

 

[punkedoutriffs]

Do it now if you're going to do it. You retire with Tricare for life after age 60 if you do 20 years in the reserves. You don't keep the insurance after you're out otherwise so it would be useless for your retirement plans.

What if I just stayed in the reserves? How old can you be and still serve?

 

[armytrainingsir]

What if I just stayed in the reserves? How old can you be and still serve?

The rules say you get kicked out at 60, but depending on the needs of the service at the time, you can be extended to 65+ yo.

 

[Monty Python]

What if I just stayed in the reserves? How old can you be and still serve?

Navy reserve has a mandatory retirement age at 60. First waiver request covers two years (ages 60-62), then it’s an annual request. Annual waivers up to 68 are essentially rubber stamped approved based on the needs of the service and your health.

There are a lot of “ifs, ands, or buts” in the policies but here is the gist:
Retention Past Age 62
Captains, Commanders, and Lieutenant Commanders, in the Medical Corps (2105), Dental Corps (2205), Nurse Corps (2905), Medical Service Corps (2305), (Designated to perform service as an optometrist, podiatrist, allied health officer, or biomedical sciences officer) and Chaplain Corps (4105) may be retained past age 62 not to exceed age 68. Age 68 Waivers must be submitted to PERS-911D by the member’s 67 birthday.

If you enjoy reading bureaucratic jargon: Continuation and Retention

Also see the bottom of page 4 regarding continuation beyond 68 (rare, to my knowledge): https://www.mynavyhr.navy.mil/Porta...ATION POLICY.pdf?ver=BPuuS6Fd59S9AbmmH3bklQ==

 

[DeadCactus]

Reserve/Guard can be a good semi-retired gig for the right person. You can generally flex up and down your involvement as life constraints dictate. Fairly easy to volunteer to go full-time for a bit covering an empty active duty spot somewhere, get on short local full-time orders to help the unit get caught up on something, volunteer for deployments, go on exercises, go to schools, etc. I'm not at that point in my civilian career yet, but it seems like it could be a fun way to semi-retire.

It's a good gig if you genuinely want to be in the military and do some military things. You do have to accept the risk that next week you might suddenly find yourself on the way to a 15 month deployment to liberate "Red, White, and Blue Land".

 

[punkedoutriffs]

Reserve/Guard can be a good semi-retired gig for the right person. You can generally flex up and down your involvement as life constraints dictate. Fairly easy to volunteer to go full-time for a bit covering an empty active duty spot somewhere, get on short local full-time orders to help the unit get caught up on something, volunteer for deployments, go on exercises, go to schools, etc. I'm not at that point in my civilian career yet, but it seems like it could be a fun way to semi-retire.

It's a good gig if you genuinely want to be in the military and do some military things. You do have to accept the risk that next week you might suddenly find yourself on the way to a 15 month deployment to liberate "Red, White, and Blue Land".

You mentioned exercises/schools. Just out of curiosity, would I be able to voluntarily go train for different rates that are not my specialty? Like flight training, SERE, or Buds (I know I can't do buds 2/2 age), but you get the gist of what I'm asking? Still trying to get a handle on this A-school/C-school thing.

 

[flightdoc09]

You mentioned exercises/schools. Just out of curiosity, would I be able to voluntarily go train for different rates that are not my specialty? Like flight training, SERE, or Buds (I know I can't do buds 2/2 age), but you get the gist of what I'm asking? Still trying to get a handle on this A-school/C-school thing.

A school/C school refers to enlisted schools. A school might be how to be a general corpsman. C school might be how to be an x-ray tech.

As far as flight training, SERE, jump, etc., you can't just "volunteer" to go to these for fun. If the Navy sends you to learn how to be a flight surgeon, they're going to want to put you on orders as a flight surgeon. And as far as I know, reserve flight docs are all former active duty flight docs. Likewise with other schools, you're not going to go unless they're going to get something out of you on the back end, or you're going to support. For example, they may send you to a cold weather training, but with the idea that you'd function as a psychiatrist supporting sailors/marines that are sad and depressed from the cold. You would not directly participate in classes/training.

 

[DeadCactus]

You mentioned exercises/schools. Just out of curiosity, would I be able to voluntarily go train for different rates that are not my specialty? Like flight training, SERE, or Buds (I know I can't do buds 2/2 age), but you get the gist of what I'm asking? Still trying to get a handle on this A-school/C-school thing.

You can always join as a non-medical officer or enlist just like anyone else off the street but no I would not expect the military to take you as a psychiatrist and then send you to train for a completely different career field just for fun.

There are still many interesting schools and training opportunities within medicine. I'm less in tune with psychiatry as it's relatively unique in the house of medicine but there are likely avenues to go to training for flight medicine, survival, airborne school, etc. Opportunities will vary based on branch and unit. Based on anecdotal observations, the Army and Air Force seem to have more opportunities on the Reserve/Guard side just with how much larger their Reserve Components are.

Of note: The more "cool" stuff you want to do, the more time you'll have to put in than the "one weekend a month, two weeks a year".