When you envision retirement, you probably see yourself living comfortably, doing what makes you happy. Your dreams could be as lofty as traveling the world or as simple as spending more time with your friends and family. Everyone’s vision is unique.
Determining your retirement income needs is a process that helps you identify your retirement planning needs based on your desired standard of living and the resources you’ll have available. Today, you can typically no longer rely on Social Security benefits and a military pension check to fulfill all your retirement income needs.
Life insurance is a way to protect your loved ones financially after you die and your income stops. Military families have special circumstances to consider while deciding on life insurance protection.
Social Security is a federal system of programs designed to protect individuals and families against economic hardship. Most Americans work in occupations covered by the Social Security system, and they will at some point in their lives receive Social Security benefits.
The federal government provides tax relief to qualifying individuals in the form of tax credits. Tax credits are valuable because they are dollar-for-dollar reductions of your tax liability. In some cases, they may result in tax refunds.
Military families face plenty of financial challenges. If you’re saving for college or retirement, buying a home, or wondering how to help secure your family’s financial future, don’t overlook these five important benefits available to military members.
As a member of the military, planning and preparing your estate is of vital importance. Why is estate planning so critical? Because, at your death, you leave behind the people you love and all your worldly goods.
Planning for retirement is an important and sometimes difficult endeavor. As a member of the military, you may have some special opportunities and challenges when preparing financially for retirement. Often, retiring from the military leads to a second civilian career–and a second retirement.