Use Military Retirement Calculator To Forecast Savings

During the first few years of service, retirement income may not be high on everyone's list of concerns. However, as their career in the military advances, figuring out retirement income with a military retirement calculator can help a person plan for the future. Retirement income for retired military is similar to civilian calculations, and they should include the same variables.

Start with your age, and the age at which you plan to retire. In the military, you can consider the number of years of service and know what percent of your pay you will receive upon retirement after an established number of years. Using these numbers in a military retirement calculator you can figure if you will have to find another job, or can stay home and relax. Most calculators do not include the final year you work when computing income. For example, if you plan to retire at age 65, the last year of earnings you should consider is for year 64.

When you consider income, do not forget to include your spouse's income in the household totals and any amounts your married spouse has in their own retirement savings account. Individual retirement accounts should also be included in the military retirement calculator when calculating the current retirement savings amount.

Future Earnings Estimates Are Questionable

The earnings you realize from your current investments are questionable, at best and depending on where your savings are being held will play a significant role in its growth. A military retirement calculator can work with known numbers, but the variables in interest rates and potential for losses in market investments can make your savings plan volatile. While savings accounts are typically safe and consistent, their returns are also considerably lower that investments. Stock trading on the other hand can be rewarding, financially, they can also take a large chunk of your initial investment in a down market.

For post-retirement expenses, it is generally calculated that 90 percent of your last year's salary will be what you will spend on living expenses. When using your military retirement calculator by knowing what your total savings should be upon retirement, and calculating how many years you can live on the balance, can help you determine how much more you need to save in order to survive. Knowing the amount of money you are looking to save can help you calculate the amount each month you have to put away, figuring in your expected growth rate.

Risk Factors for Elderly Depression

Those individuals who are 65 years of age or older have several risk factors for depression including certain medications they may be taking, other diseases they may have, social isolation, a recent bereavement, damage to their body caused by amputation, cancer, surgery or accident destruction. Other risk factors are fear of death, a family history of depression, a previous episode of depression or attempted suicide, and also substance abuse.

Medications that can trigger depression in the elderly are:

Anticholinergics are used to relieve cramping or spasms experienced in the intestines, bladder or stomach. Medications such as Anaspaz, Bentyl, Gastrosed and Levbid are anticholinergics.

Cogentin is used to treat Parkinson's disease and has been shown to cause depression in some individuals. Another drug used to treat Parkinson's that can also cause depression is bromocriptine.

Corticosteroids, which are used to reduce swelling and the activity of the immune system, can also trigger depression. Medications that are corticosteoids are hydrocortisone, prednisone flonase, nasocort, nasonex, and flovent

Tagamet a popular medication used to treat heartburn

Capoten is a medication that is prescribed for those with high blood pressure

Chronic Diseases that can trigger depression include:

Arthritis, diabetes, heart disease, kidney disease, HIV/AIDS, lupus and also multiple sclerosis

Diseases can demand a lot out of the elderly person's body, zapping energy, reducing mobility and robbing the person of valuable independence. All of these consequences to chronic disease can bring the individual to despair and extreme sadness. Depression is a complication to chronic disease.

Hardships experienced from the disease can also trigger a psychological reaction that can lead to depression.

The risk for depression increases with the increase in severity of a chronic disease.

A double whammy is experienced when the depression caused by the chronic disease actually aggravates the disease because depression can intensify pain.

Social isolation, a recent bereavement, and damage to their body can also trigger depression in the elderly:

When an elderly individual is isolated from other members of the community they are cut off from support systems that could assist them with hardships or stresses that trigger depression. A recent loss such as a spouse or other family member or a close friend can emotionally deplete the individual and make them vulnerable to depression. The physical and emotional trauma of having an amputation or receiving physical damage to the body in any way can cause psychological and emotional harm that can trigger depression.

The fear of death becomes stronger the older one gets and for many this brings about great anxiety which causes depression.

Those individuals who have been depressed previously are more likely to suffer depression when any of the above causes are present.

Chronic or severe pain can lead to fatigue and depression as the situation continues in apparent hopelessness for the individual suffering the pain.

Elderly individuals who abuse any substance alcohol included are at a higher risk for depression because alcohol and other drugs are depressants.