### Video instructions and help with filling out and completing redux retirement calculator

**Instructions and Help about redux retirement calculator**

Music hello everyone DJ here this will be another quick episode for those of you who have gotten a little tired of my long ones but this is just in preparation for a longer one next week so be prepared this week we're going to talk about how to calculate your retired pay under the new blended retirement system this will be very similar to my episode two weeks ago about how to calculate pay under the current system in fact a lot of it will be word for word so if you've seen the other one this one will be quite easy to understand so for again for simplicity I'm going to cover just the new system I'm not going to say anything about the old the basic formula for calculating your retired pay is to take your points and imagine it in parentheses points / 18,000 and then take that result and multiply it by base pay so here's how it works as I said before you know in my description of your how to read your retirement point statement if you can find your total points creditable for retired pay then write that down divide that number by 18,000 this will give you a percentage right this percentage down now find your rate of pay on your on the military pay scale for your pay grade and your years of service there's a link in the show notes below if you need to find that pay chart put that rate of pay into your notes now finally multiply the rate of pay by the percentage that you had a moment ago and drop any sense that you have in your answer so that you have only whole dollar amounts the result is going to be relatively close within a few dollars of your actual retired pay so let's go through an example see how this works with real dollars just like two weeks ago will talk about sergeant first class Jackson who is an e7 in the army he has 2437 retirement planks and 26 years of service his base pay is 5167 dollars and fifty cents per month the formula in this case would look like this 2437 / 18 thousand x 5000 160 7.5 so let's go through it if we divide 2400 correction 2347 points by 18,000 we get 13.04 percent now we multiply his base pay of 5167 50 by 13.04 the result is 673 dollars 86 sense when we drop the sense we get 673 dollars this is an estimate of his retired pay based on this year's pay scale under the new blended retirement system as with the last episode I left out a few factors such as whether he's eligible for the high three or final k retirement versions and a few other details that might affect his rate of pay again that was intentional so that we can have a simplistic back of the napkin way of calculating