I have been crunching the numbers on this scenario for nearly a year now and it always comes back as being more beneficial for me to sell my leave back instead of taking terminal leave. There is a big stigma about selling leave instead of taking terminal, but I believe in my situation it makes more sense to sell it. Let me explain my situation below and then please give me your feedback as to if I am miscalculating something.
Leave at time DOS: 60 days
Current income after taxes and social security: $4,560
Monthly VA Disability compensation once I retire: $3,197.16
Compensation for selling back 60 days of leave: Roughly $5,000
2 month scenario if I stayed in and took terminal leave: $9,120
2 month scenario if I got out and started receiving VA comp plus the one time leave comp: $11,400
Difference between the two scenarios: $2,280
There are minor monetary expenditures not included above like $50 tricare health insurance premium for the family, increased dental insurance cost, etc, but I do not believe these will be cumulatively over $200 in a 2 month period.
Terminal leave is a great opportunity to provide a means to receive dual incomes for some individuals if they have a new career lined up and will be working while on terminal. However, in my situation I will not be working when I get out. I will be starting college in August and up until that point I will be brushing up on my math skills at home.
What do you all think?
Leave at time DOS: 60 days
Current income after taxes and social security: $4,560
Monthly VA Disability compensation once I retire: $3,197.16
Compensation for selling back 60 days of leave: Roughly $5,000
2 month scenario if I stayed in and took terminal leave: $9,120
2 month scenario if I got out and started receiving VA comp plus the one time leave comp: $11,400
Difference between the two scenarios: $2,280
There are minor monetary expenditures not included above like $50 tricare health insurance premium for the family, increased dental insurance cost, etc, but I do not believe these will be cumulatively over $200 in a 2 month period.
Terminal leave is a great opportunity to provide a means to receive dual incomes for some individuals if they have a new career lined up and will be working while on terminal. However, in my situation I will not be working when I get out. I will be starting college in August and up until that point I will be brushing up on my math skills at home.
What do you all think?