How Much Money Should Military Members Put Into Their Retirement Account Each Month?


Quick Answer

Though exact amounts vary based on the military member's goals and financial situation, many financial advisers recommend that 10 to 15 percent of an individual's salary be saved every year, as stated by CNN Money. If a member of the military has an annual salary of $40,000 a year, saving 10 percent of this amount is equal to $4,000 a year or $333.34 a month while 15 percent is equivalent to $6,000 a year or $500 a month.

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Full Answer

As of 2015, the Thrift Savings Plan used by military members allows contributions of up to $18,000 a year or $1,500 a month. Individuals should consider their projected amount of social security, possible pensions, income requirements and investment portfolio when deciding how much to save for retirement.

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