Service members and veterans have financial benefits and resources that their civilian friends don’t. Make sure to take advantage of these benefits. These include everything from exclusive life insurance options, to retirement benefits, to VA home loans. You have an amazing opportunity to save money, plan for retirement, and buy a home at good rates without a down payment.
Financial Planning and Benefits for Military and Veterans Whether you are active duty, a member of the Guard or Reserve, or a veteran, financial planning is an important part of what some in the Department of Defense call “financial readiness.” Your military pay, benefits, and retirement options are all areas to work on from the… Read more »
There are a variety of options to explore when you’re learning how to invest. And while there are no risk-free investments, some are more suitable for the beginning investor than others. You should research your stock options carefully; the DoD cannot help servicemembers, military families, or veterans who lose money on the stock market. Investing… Read more »
Basics of Budgeting For First-Time Budgeters Have you ever wondered where all your monthly income went? We work hard every week and can’t seem to save anything or invest in our future. Some don’t have a budget and don’t keep track of how they spend over time. Budgeting can be a day-to-day transformation of how… Read more »
The Blended Retirement System (BRS) is the new military retirement system. It went in to effect in 2018. The new system blends the traditional legacy retirement pension with a defined contribution benefit that is applied to the service member’s Thrift Savings Plan (TSP) account. It is one of the most significant changes to the compensation system since World War Two.
The first thing you’ll notice when searching for military banks and credit unions online is that many finance-related blogs and websites tend to lump civilian-oriented banks into the lists simply because they have military-friendly banking options. This article does not include these financial institutions; it focuses on lenders who require military affiliation to use their… Read more »
Is it possible to use GI Bill income for a mortgage? The Post-9/11 GI Bill features a payment the Montgomery GI Bill does not; the monthly housing stipend paid to students using the GI Bill who are not on active duty. This housing stipend equals the Basic Allowance for Housing paid to an E5 with… Read more »
The VA offers several types of life insurance for active duty service members, National Guard, Reserve, their families, and veterans. Learn more.
Is SGLI enough for military families? SGLI stands for Servicemembers Group Life Insurance. One of the first things to remember about this program is that it’s for the servicemember only; spouses and dependents are insured under a program called Family Group Life Insurance or FGLI. For this article, we’re looking only at SGLI and whether… Read more »
There are 5 basic types of life insurance. Which one is right for you depends greatly on your financial needs, future plans, and goals. Learn more.
What is SGLI? Servicemembers Group Life Insurance or SGLI is a low-cost military life insurance benefit offered to those on active duty, with options for qualifying Guard and Reserve members and other qualifying groups. Life insurance is meant to help the survivors of a family member who dies; SGLI offers multiple types of life insurance… Read more »