EXCELLENCE IN ALL WE DO. OUR SHARED
VALUES WILL HELP YOU APPRECIATE LIFE AT FALCONS LANDING.
cers for military officers, Falcons Landing has core values that are shared by those who operate the community, and those who live here. Plan now for an enjoyable retirement lifestyle where unbounded camaraderie is matched by exceptional service to the distinguished residents.
A
Call 800-952-3762 to learn more and to
schedule a tour. retirement
community created by military offi-
SERVICE BEFORE SELF.
INTEGRITY FIRST.
For example, a 52-year-old re-
tired O-5 receives $40,000 in mili- tary retired pay and earns $80,000 in his second career. He maximizes his contribution to his company’s 401(k) retirement plan, contribut-
down funds from non- Roth IRAs, 401(k)s, and similar plans adds to a retiree’s income.
Drawing
ing $22,000 a year, and pays typical payroll taxes, about $6,120 a year. (All figures are in pretax dollars, though the principles are the same with pretax or after-tax dollars.) By adding wages and military
retired pay ($80,000 + $40,000) and subtracting direct work-related expenses ($120,000 - $22,000 - $6,120), this military retiree esti- mates he will need about 77 percent of his current income ($120,000), or $91,800, in retirement. Of his current income, the retiree will maintain only his retired pay ($40,000) in retirement, which is about 43 percent of this current net income. Therefore, to maintain his
20522 Falcons Landing Circle • Potomac Falls, VA 20165
www.falconslanding.org
MOAASept11 72 MILITARY OFFICER SEPTEMBER 2011
77-percent WRR, he’ll have to make up the remaining 34 percent of in- come through other sources — pen- sions, investment payouts, Social Security, and other savings. After age 70½, retirees must begin to take required minimum distribu- tions from non-Roth IRAs and all 401(k) or similar plans. Drawing down those funds adds to income. (See IRS Pub 590 for details.)
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