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Did you opt in to BRS?

Discussion in 'Military' started by Comatose, Apr 18, 2018.

?

Did you opt in?

  1. I opted in...

    10 vote(s)
    32.3%
  2. I didn't because I knew it was a trap.

    20 vote(s)
    64.5%
  3. I accidentally opted in because MyPay tricked me when I was looking for my LES.

    1 vote(s)
    3.2%
  1. Apr 18, 2018 at 12:07 PM
    #1
    Comatose

    Comatose [OP] You snuff it, we stuff it.

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  2. Apr 19, 2018 at 4:55 PM
    #2
    Boyk1182

    Boyk1182 Well-Known Member

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    Not sure what BRS is, but if it’s a trap I wouldn’t be surprised if I unknowingly “opted in.”
     
  3. Apr 20, 2018 at 7:45 PM
    #3
    crazysccrmd

    crazysccrmd Well-Known Member

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    How is it a trap?
     
  4. Apr 21, 2018 at 4:07 PM
    #4
    ABNFDC

    ABNFDC Well-Known Member

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    It's not.

    I wouldn't change to it if I were the average currently serving EM that knew he was going to stay through 20, but there are advantages for some others. Not to mention it is the only game in town for new folks.
     
  5. Apr 21, 2018 at 8:45 PM
    #5
    kodiakisland

    kodiakisland Well-Known Member

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    It's a good deal for those who know they are not in for the long haul. Problem is, lots of guys get out 24-28 years after only signing up for one tour.
     
    shane100700 likes this.
  6. Apr 22, 2018 at 6:13 AM
    #6
    ABNFDC

    ABNFDC Well-Known Member

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    <---I hit 26 active in 2 weeks. Just signed up for 4 years so I could get out of the house.
     
  7. Apr 22, 2018 at 6:15 AM
    #7
    EatSleepTacos

    EatSleepTacos Well-Known Member

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    I signed up. Been in for 6.5 and have one year left until I get out. Wasn't putting into TSP because I have private investments, but I opted in and started putting in 5% so that they'll match it. I'll take a little free money.
     
    Last edited: Apr 22, 2018
    05Taco4x4 likes this.
  8. Apr 22, 2018 at 6:15 AM
    #8
    Ayeele

    Ayeele Well-Known Member

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    Negative. My tsp is rolling .. 80% in the C fund
     
  9. Apr 22, 2018 at 6:27 AM
    #9
    JaxQuack

    JaxQuack Well-Known Member

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    Its a tricky one for sure.

    If I knew beyond a shadow of a doubt that this wasn't a career for me, I would jump all over it and max out my contributions. The down side is, many new recruits aren't as financially aware as they should be. Its hard for a young adult to think about investing when their paycheck is already so little. IF they are smart enough to do so, they can absolutely make some money off of it.

    With that, the military isn't going to off you a program that is win/win. This option will save them a ton of money in the long run. A guaranteed pension will beat a 401k any day of the week (long term). I also thing its an absolute shame that the military provides very minimum financial training on the subject.

    Can you make some serious cash off the BRS? Absolutely, but you must be disciplined from the start. The military fails its people by not providing better training.

    At 17 years in, I max out my TSP already, and I'll be collecting the standard retirement in a few years.

    Just my opinion.
     
    sougnip, 05Taco4x4 and Biscuits like this.
  10. Apr 22, 2018 at 6:27 AM
    #10
    Comatose

    Comatose [OP] You snuff it, we stuff it.

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    It makes sense for the new guys, but honestly I put money into my private investments and rigorously monitor them. The TSP is great if you dont have a portfolio and BRS is great if you plan on getting out but continuing to utilize its momentum.
     
    05Taco4x4 likes this.
  11. Apr 22, 2018 at 7:39 AM
    #11
    Ayeele

    Ayeele Well-Known Member

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    Does the military match tsp now? Like 5% ?
     
  12. Apr 22, 2018 at 7:51 AM
    #12
    EatSleepTacos

    EatSleepTacos Well-Known Member

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    That's what the new retirement system is, the BRS or blended retirement system. The way I understand it, they now give you 40% for retirement, but if you put in 5% into TSP they'll match it, giving you the full 50%
     
  13. Apr 22, 2018 at 3:19 PM
    #13
    ABNFDC

    ABNFDC Well-Known Member

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    Separate from the BRS conversation, putting money into both the TSP and personal investments is a good thing. The TSP provides us with an additional $18.5K of tax advantaged space in 2018. It was $18K in 2017.
     
    05Taco4x4 likes this.
  14. Apr 22, 2018 at 10:53 PM
    #14
    crazysccrmd

    crazysccrmd Well-Known Member

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    I'm at 10 years and opted in. I've been contributing 10% to TSP since the beginning, now at 15% with matching. I would prefer to stay the full 20 years but the Army is such a dumpster fire it's making it hard to not leave when this commitment is up. I ran the numbers and this will most likely result in slightly less money over the course of my retirement but the security to be able to leave the Army before 20 years and have something to show for my time is worth it.

    The program as a whole is a win for the military. They have to set aside less money for guaranteed pensions and the service members who don't reach retirement (the vast majority) will leave with at least a little bit in a retirement account.
     
    Comatose [OP] likes this.
  15. Apr 30, 2018 at 8:03 AM
    #15
    flenniken7

    flenniken7 Wishin' I was Fishin'

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    I've been in 10 and I did not opt in, the benefit's to a full 20 year retirement were too good to me, as stated above^^ its getting pretty hard to stay in and its definitely a gamble. I'm just continuing to contribute to my tsp and hope I can make it 10 more years and collect for the rest of my life from uncle same not collect until my own investments run out. I feel like the normal retirement will give me more security in the long run to make more risky investments, that If they don't pay out I still have my $1600 or whatever a month to lean on.
     
  16. Apr 30, 2018 at 12:05 PM
    #16
    4x4Runner

    4x4Runner Now with more Oi Vey! Moderator

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    Wasn’t an option for me. Just rolled over 21 years and I think I’ll do 24 for 60% high 3 as an E8 and call it a day. May stretch it to 26 if my next assignment is worth it.
     
    shane100700 likes this.
  17. Apr 30, 2018 at 12:16 PM
    #17
    05Taco4x4

    05Taco4x4 ToyotaHubs

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    Negative

    Also, don’t forget the mid career kicker for those who chose BRS.

    I haven’t made up my mind yet. I’m 8 years in, with 20 yr intentions- leaning towards keeping high 3
     
  18. Apr 30, 2018 at 12:27 PM
    #18
    EatSleepTacos

    EatSleepTacos Well-Known Member

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    I wouldn’t be surprised if I got that wrong. I just clicked through the training because my ass is getting out!
     
    Comatose [OP] likes this.
  19. Apr 30, 2018 at 6:50 PM
    #19
    Comatose

    Comatose [OP] You snuff it, we stuff it.

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    TLDR
     
    EatSleepTacos likes this.
  20. Apr 30, 2018 at 7:02 PM
    #20
    Comatose

    Comatose [OP] You snuff it, we stuff it.

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    If the Navy wanted me to take that training seriously they should have made a test for it. And even then... I'm still meh about it.
     

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