Military retirement changes how investment risk should be evaluated. A military pension and VA disability income provide guaranteed, inflation-adjusted lifetime income that can significantly reduce reliance on an investment portfolio for mandatory expenses. This shift directly impacts asset allocation, retirement glide path decisions, and overall risk capacity. Unlike civilian retirees who depend heavily on 401(k) or IRA withdrawals, military retirees whose pension covers core living expenses may have greater flexibility to maintain higher equity exposure for long-term growth. Understanding your risk need, or how much your investments must generate to fund your lifestyle, is critical when designing a military retirement investment strategy.