3 Real Ways Veterans Can Start Saving for Retirement Today

Retirement shouldn’t feel out of reach—no matter when you start planning for it. If you’re a veteran, there’s a good chance you’ve been focused on serving your country, getting through the day-to-day, or making that tough transition from military to civilian life. Saving for retirement might have taken a backseat, but it’s never too late to get serious about it.

This isn’t about catching up. It’s about using what’s available to you and building a plan that fits your life now.

Here are three real, manageable ways Veterans can start saving for retirement today:

1. Use the Benefits You’ve Earned

Let’s be honest: a lot of Veterans either don’t know what they’re eligible for or don’t know how to make those benefits work for their future. If you’re not sure what you’ve got access to, now’s the time to take a second look.

• TSP (Thrift Savings Plan)
  If you contributed while in the service, don’t let it just sit there. And if you didn’t, it’s not too late to start a similar account now. TSP has some of the lowest fees around—and fees matter a lot when you're trying to grow your savings.
• VALife (Veterans Affairs Life Insurance)
  If you’re a Veteran with a service-connected disability, VALife offers guaranteed coverage without a medical exam. It’s not a savings plan, but it can help protect your family, which frees up your budget to focus more on saving.
• Monthly VA Payments
  Disability or pension payments provide a steady source of income. Build your savings strategy around that consistency—automate a small portion each month to go toward retirement.

2. Automate Something Small—And Stick With It

Don’t let the idea of saving thousands a year scare you off. Big goals start with small steps.

Try this:

• Save $10 a week. That’s it.
• That adds up to over $500 a year.
• Do that consistently, and it’ll grow. Add interest or investment returns, and now you’re really building something.
  
  

Set it up to happen automatically. That way, you don’t have to think about it, and you’re not tempted to spend it.

3. Create a Retirement Plan That Grows With You

If you’re picturing someone in a suit telling you to “diversify your portfolio,” you’re not alone. But don’t let the jargon push you away. This is just about not putting all your eggs in one basket.

A well-rounded plan might include:

• An IRA or a continued TSP account
• A 401(k) if you’re working for an employer that offers one
  
  
• A high-yield savings account for more short-term goals or cushion
  
  

You don’t need to do everything at once. Just start with one move. Then check in with yourself every year as life shifts—new job, new location, changes in income—and adjust your plan to match.

Get Support Without the Sales Pitch

You don’t need to go it alone and you don’t need to get sold to. Through our partnership with the Foundation for Financial Planning, we offer free financial coaching to Veterans and transitioning service members. This isn’t about pushing products. It’s about giving you trusted, unbiased guidance from someone who understands the unique challenges of military life and the road after it. Sign up for FREE financial counseling here.

Final Thought: You’re Not Behind

Let’s drop the shame and guilt around retirement planning. You’ve lived life. You’ve handled responsibilities that most people can’t imagine. This is just the next chapter. 

Take the Veteran Saves Pledge and choose “Retirement” as your goal. We’ll send you tips and resources by email, so you’ve got support on your terms.