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Pennsylvania Military Veterans Bonus

Pennsylvania offers a military veterans bonus for state residents who served in the Persian Gulf during specified dates. This bonus was enacted on April 24, 2006, when Governor Edward Rendell singed the Persian Gulf Veterans’ Benefit Act into law.  The bond issue created a fund to pay compensation to eligible current and former members of the US Armed Forces, Pennsylvania National Guard, or members of the Reserves. The bonus is $75 per month of eligible service (or prorated basis for a fraction of a month).

Pennsylvania Military Veterans Bonus

Pennsylvania Military Veterans Bonus Eligibility Requirements

Southwest-Asia-Service-MedalPennsylvania residents who served in the Armed Forces, including active duty, Guard, and Reserves, in the Middle East in support of the Persian Gulf conflict may be eligible for the Persian Gulf Veteran’s Benefit Program.  Eligible members must have served anytime from August 2, 1990 to August 31, 1991, and must have been awarded the Southwest Asia Service Medal. Veterans must either still be on active duty or have received an Honorable Discharge to be eligible for this award.

Veterans who are not eligible: Service members, veterans or their surviving beneficiaries may not be eligible for the Persian Gulf Veteran’s Benefit Program, if they have received a bonus, gratuity, or similar form of compensation from another state, if the service member or veteran has renounced his or her US citizenship, or separated from the armed forces under less than honorable conditions.

Survivors claims. Surviving relatives may also be eligible for this bonus if the military veteran is deceased or is deemed incompetent by a court of competent jurisdiction. Eligible beneficiaries of deceased veterans include, in the following in order of precedence:

  • Surviving spouse.
  • Surviving children.
  • Surviving parents.

If declared incompetent, the order of precedence is: Court-appointed guardian, spouse, children, parents, facility.

How to Claim the Pennsylvania Military Veterans Bonus

Veterans and military members must provide documentation to prove they received the Southwest Asia Service Medal  and were Pennsylvania residents at the time they were awarded this medal.

Required information:

  • Proof of  Southwest Asia Medal: Member 4 copy of your DD Form 214 documenting your receipt of the Southwest Asia Service Medal during specified time periods and a discharge under Honorable conditions. If still active duty, must show official documentation proving receipt of Southwest Asia Service Medal.
  • Proof of Pennsylvania Residency at Time of Award. Proof of residency can include listing Pennsylvania as home of record on D Form 214, voter’s registration records, Leave and Earnings Statements, State tax return, driver’s license from specified time period, or W2 Wage and tax statement from time frame.
  • Proof of relationship if claiming on behalf of another individual. Documents could include a marriage certificate (for spouse to make claim), birth certificate (for child to make claim), veteran’s birth certificate (for parents to make claim), or a Proof or authorization for a representative to make a claim.
  • Other: Death certificate, if applicable, or DD 1300 or Veterans Affairs Rating Decision if applicable.

Application form: Applications for the Persian Gulf Veteran’s Benefit Program must be made on an official application form, PG-1. A short form (PG-1 Short) is available for veterans filing on their own behalf, of a long version (PG-1 Long) is available for persons filing on behalf of a veteran who is deceased or incapacitated. You can find these forms at the Pennsylvania Department of Military and Veterans Affairs application page.

Deadline for claim: Applications for the Persian Gulf Conflict Veterans’ Benefit Program must be submitted by August 31, 2015.

Completed applications and supporting documents should be mailed to:

Persian Gulf Conflict Veterans’ Benefit Program
PO Box 1109
Harrisburg, PA 17108-1109

For more information: Please contact a representative during hours of operation: 9am to 5pm — Persian Gulf Conflict Veterans Benefit Program at 1-866-458-9182 (toll free) or visit the Pennsylvania Persian Gulf Veterans Bonus Program website.

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The Money Mavens Have a Few New Members

I was recently invited to join a group of personal finance bloggers who are in a network known as The Money Mavens.

What will change here at The Military Wallet? Nothing. Well, I will introduce you to more of their great writing, and we may exchange a few guest articles from time to time, but the content here at The Military Wallet will otherwise remain unaffected.

Who are the Money Mavens?

Here is an introduction to each of the member sites, with a link to one of their recent articles.

Canadian Finance Blog. Canadian Finance Blog is the Canadian source for personal finance. The site covers universal topics such as how to invest wisely as well as tips on how you can save money on everyday expenses and bills. As one of the leading sites based out of Canada, numerous topics that matter to Canadians are covered, including RRSP’s, TFSA’s and Canadian taxes.

Deliver Away Debt. DeliverAwayDebt is a personal finance blog with a twist. The site details the amount of money you can make by having a second job as a pizza delivery driver. The site has a ”Get Out of Debt” focus, with articles and topics created to help people destroy their debt. If you are looking for help getting out of debt, this is the place to get the kick in the pants you need to move the debt needle.

Green Panda Treehouse. I’m working in the financial industry and I am specialized in personal finance. I’m always trying to find way to make money differently than receiving my pay check every two weeks. I love to try different things and I will post true stories about them. I am currently building my own online business while working 4 days a week at my day job.

JoeTaxpayer. JoeTaxpayer is the founder of the eponymous www.JoeTaxpayer.com where he has been blogging on various financial topics for over three years. He is interested in all aspects of financial planning with a strong focus on tax issues and retirement planning. Joe is also a frequent contributor and one of the moderators of the Usenet group misc.taxes.moderated and guest blogger at the TurboTax blog.

Len Penzo dot Com. When it comes to writing about the world of personal finance, Len definitely marches to the beat of his own drummer! In a uniquely irreverent and highly-entertaining style, Len covers a broad array of money topics, with an emphasis on personal responsibility and running your household like a business – just like he has done successfully for the past 20 years.

Money Help For Christians. Money Help For Christians (MH4C) promotes a frugal, simple, debt-free, and generous lifestyle so Christians can faithfully maximize their resources by putting them at the disposal of God’s Kingdom. MH4C is committed to providing relevant resources in order to assist Christians in this effort.

Monevator is a personal blog about money: making, saving, investing, and sometimes even spending it. It’s written by a UK-based private investor and spare room entrepreneur, for people like him, wherever they are in the world. Sign-up as a regular reader, and you’ll probably become richer. You’ll probably also lose your tan.

The Censtible Life. The Centsible Life is a website about family, frugality, and living your dreams on a budget. Kelly Whalen, the author, is a mom of 4 who received a financial wake up call nearly 2 years ago, since then she and her family have been working hard to banish their debt, and live a full life on a budget. You can follow her on twitter @CentsibleLife or stop by her blog.

The Military Wallet. Obviously, you know who I am. But I would like to introduce you to some of my other writing. My other website is Cash Money Life, where you can find frequent articles on personal finance, career, small business, and money management. I am also a frequent contributor at US News & World Report, GoBankingRates.com, and other websites around the web.

The Oblivious Investor. At The Oblivious Investor, Mike writes about ways to invest successfully without having to watch the market from day to day or month to month. He covers topics like asset allocation, building low-maintenance portfolios, and making the most out of your retirement accounts.

Wealth Pilgrim. Wealth Pilgrim is about financial balance. On the one hand, Neal believes most of all of us can do better financially. Spend more mindfully, invest smarter, get better educated, make sure we maximize our earnings. On the other hand, there are some things that are beyond our control. Rather than allow those realities to diminish our joy in life, Neal feels we should learn to accept them and find joy in those limitations. Neal writes about finding this balance on his blog Wealth Pilgrim.

Thanks for the invite Money Mavens! I look forward to working with you in the coming months. :)

Other articles from around the web:

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New Hampshire Military Veterans Bonus

New Hampshire offers veterans of the Vietnam War, Persian Gulf War and the Global War on Terrorism a $100 bonus if eligibility requirements are met.  The state previously offered veteran bonuses to those who served in World War II and the Korean Conflict, however those programs have been expired for almost forty years now.

New Hampshire Military Veterans Bonus

New Hampshire Veterans Bonus Eligibility Requirements

Here we will look at the eligibility requirements for those veterans still active or who served in recent conflicts.  To qualify for the New Hampshire Veterans Bonuses, military members must have been a bona fide resident of the state at the time they began active duty.

New Hampshire Military Veterans Bonus – Vietnam Service. It appears Vietnam veterans who have not made a claim for the $100 bonus can still do so, however claims made today must be approved by the Adjutant General, Governor and Executive Council.  To be eligible for the Vietnam Veterans Bonus, service members must have served between July 1, 1958 and August 5, 1964 receiving the Vietnam Service Medal or Armed Forces Expeditionary Medal.

New Hampshire Military Veterans Bonus – Persian Gulf. To qualify for the Persian Gulf War Bonus, service members must have actively served between the dates of August 2, 1990 and November 30, 1995 earning the Southwest Asia Service Medal.  This program expired on August 31, 2002 however service members who did not claim this bonus from another state and are otherwise eligible may fall within provisions that allow acceptance after this date.

New Hampshire Military Veterans Bonus – GWOT. The Global War on Terrorism Operations Service Bonus is available to individuals who actively serviced on or after September 11, 2001 up until a date that has not yet been determined by the Secretary of Defense.  Service members earning the Global War on Terrorism Expeditionary Medal, Afghanistan Campaign or Iraq Campaign Medal qualify for this bonus as long as they meet other conditions.  This program expired on June 11, 2009 but like other War bonuses, there are provisions which allow service members to submit applications after this date.

To be eligible for any of the New Hampshire state Veteran Bonuses, service members must have been discharged from duty in an honorable condition and have been a resident of the state at the time they were called into active duty for a current or recent conflict listed above. You will need to provide a copy of your military discharge paperwork, DD Form 214.

How to Claim New Hampshire Military Veterans Bonus

For more information on the Veterans Bonuses available through the state of New Hampshire, living veterans as well as surviving relatives of veterans KIA are encouraged to contact the State Office of Veterans Services for the state of New Hampshire.  You may do so on their website, via telephone at 603-624-9230, or by mail at 275 Chestnut Street, Room 517, Manchester, NH 03101.

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West Virginia Veterans Bonus

The state of West Virginia has historically been a very patriotic state, sending many of their men and women into battle to defend this country.  In 2004 the governor of West Virginia signed into legislation the West Virginia Veterans Bonus Amendment which was approved by the states voters.  This made it possible to facilitate paid bonuses to veterans of the state who served in the most recent military conflicts including those in Kosovo, Iraq and Afghanistan.

West Virginia Veterans Bonus

The West Virginia Veterans Bonus bonuses include $600.00 paid to veterans who served in a combat zone and received a campaign badge or expeditionary medal; a $400.00 bonus for active duty service outside the combat zone for Afghanistan and Iraq during the specified time periods; or $2,000.00 for a surviving spouse or children of a veteran who was KIA during the specified time periods.

West Virginia Veterans Bonus Eligibility Requirements

In order to be eligible for the West Virginia Veterans Bonus, military members must have been “bona fide” residents of the state at the time of and at least six months prior to the time they entered into active duty.  Any veteran who was separated from service under dishonorable conditions will not be eligible for the West Virginia Veterans Bonus.  Also, any member of the armed forces or reserves who were called to active duty by the President are eligible.  For military members KIA, the surviving spouse or children may apply for the bonus.

West Virginia Veterans Bonus Deadlines

Veterans who were serving on active duty in Afghanistan between October 7, 2001 and a date that has yet to be determined can apply for this bonus.  The dates for those serving in Iraq begin on March 19, 2003 with an end date not yet determined.  Veterans who served in Kosovo and received a campaign badge or expeditionary medal for Kosovo between November 20, 1995 and December 31, 2000 are eligible for the veterans bonus.

How to Claim West Virginia Veterans Bonus

A surviving spouse or children of a veteran KIA during these periods may request an application for the bonus by calling 1-888-838-2332 or via email at WVDVA@state.wv.us.  Applications can be mailed to the West Virginia Division of Veterans Affairs, 1321 Plaza East Suite 101, Charleston, WV 25301.

Living veterans of each conflict must fill out forms which vary based on the area in which you served.  For more information on which forms must be completed as well as any other documentation required to receive the West Virginia Veterans Bonus, please visit West Virginia Division of Veteran’s Affairs for more information. Be sure to include a copy of your DD Form 214 with your application. This form shows proof of military service, campaign medals, and other important information to prove your claim.

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How to Challenge Property Taxes

The value of homes has been dropping steadily throughout most of the country. While that might not bode well for most property owners, it might also represent a small opportunity.  Despite the decrease in home values, most property taxes have not decreased to reflect the change in value. Since property taxes are somewhat based on the value of a home, it seems many people are paying taxes which are too high for the homes they live in.  If you feel you’re property taxes are too high, here are some tips for challenging property taxes:

How to Challenge Property Taxes

Contact Your Local Tax Assessor’s Office

Your first step for challenging your property taxes is to visit or call your local tax assessor’s office. You can find the phone number in the government pages of the local phone book, or on your town’s website.  Ask them when you can challenge your property taxes, since it can’t be done too early in the year or too late after property tax bills are mailed.

Tax Assessment Letter

By law, you should receive a notice in the mail which indicates your tax assessment value of your home for the year.  Despite the fact that it’s required by law, it may be a good idea to fill out a Property Tax Return form at the Assessor’s office to request your tax assessment value.  This at least makes the office aware you are looking to get this information, and will help you get the process moving.

Challenge the Tax Assessment of Your Property

Once you receive your tax assessment letter, you can file an appeal if you disagree with the state’s assessed value of your home.  You must write a letter and send it to your Tax Assessor’s office within 45 days of receipt of your Tax Assessment letter to file your appeal.

In the letter, indicate why you disagree with the assessment and provide some evidence.  You can have your home appraised to get the current appraisal value of your home.  This service will cost between $300 and $500 for most homes.

In addition, you’ll want to include sale prices of homes in your area which are comparable in size to your own home.  If your home is assessed at $190,000 and you show that four homes near by of similar size just sold for $160,000 – you’ll have a decent case to support your appeal.  You can probably find a real estate agent who has software and can run a report for you fairly quickly if you ask.

Once you have your letter and proof, send it all back to the Tax Assessor’s office and wait for a reply.  They will either agree with you and modify your property tax bill, or stand by their original assessment.

What Happens If They Deny Your Appeal?

If the Tax Assessor’s Office doesn’t accept your proof or request for modifying your property taxes,  you can write them again and say you still do not agree which will prompt them to do further research and another letter will be sent to you with their final decision of the case.  If they still don’t agree with your reason for appealing property taxes, you can get all of your proof together and make an appearance in front of the county’s Board of Commissioners.  Here, you can once again state your reason for challenging the property taxes, and see what they decide.  The Board of Commissioners decision will be the non-disputable decision of the case.

Some cities and counties are hurting for cash due to the challenging economy, so many people are having mixed results with these efforts. That said, it doesn’t hurt to try. You just might save a few hundred dollars per year on your taxes.

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10 Home Staging Tips to Sell Your Home Quickly

Staging a home is the best thing you can do to help it sell for the best price and in the least amount of time.  Most areas of your home can be “staged” to appeal to buyers the way a model home appeals to buyers, in an inexpensive way that gives you big results.  The reason model homes are so appealing to home buyers is because they are a “turn-key home” – designed for the buyer to move right in and start living.  With a few adjustments to your own home, you can give potential buyers that same impression. Use the following tips to learn how to stage your home.

10 Home Staging Tips to Sell Your Home Quickly:

1. Elbow Grease. Use a little “elbow grease” for big results.  Clean your home like your life depended on it!  Windows should be sparkling, home vacuumed and carpets shampooed, cobwebs removed from little used corners, lawn perfectly manicured.  A home that is clean and maintained lets the buyer believe they can move right in, and not have to do anything to prepare the home for living.

2. Earth Tones. A fresh coat of paint in every room is an inexpensive and effective way to brighten up the home.  Use earthy tones on walls, and use accents in each room for a slight pop of color.

3. Make it Smell Good. Smell is as powerful as the sense of sight for most people.  If your home smells like a wet dog, you can lose potential buyers.  Deep cleaning is the first step to eliminating odors, but don’t be afraid to add plants for a natural scent.

4. Unclutter. One of the reasons a newly built home that no one has lived in is so appealing to buyers is because of all the unused closet space they can fill!  When you show your home to prospective buyers, the less cluttered it is, the larger it appears.  If you can, install closet organizers in each of the bedroom closets.  Remove all knickknacks and unnecessary personal items from every room in the home. Consider reducing the amount of furniture you have in each room to make more space, too.

5. Curb Appeal. Do not forget that the first impression of your home comes from the outside.  Power wash the driveway, sidewalk, and side of house.  If the house or trim needs painting, get it done.  Maintain the landscaping, add low maintenance annuals or perennial flowerbeds, and make sure the front door looks inviting.

6. Lighting. Keep all of your window blinds open and curtains pulled back during home showings to allow as much natural light into each room as possible.  Consider candles where appropriate for ambiance.

7. Set the Table. Use a pretty table cloth on your dining room or kitchen table, and set the table as if it was time to sit down and eat a big, family dinner!  Use your best china and napkins, and put a couple of candles in the center or a pretty floral centerpiece.  It will look inviting and the potential buyer will imagine themselves hosting dinner here.

8. Appeal to Your Target Market. Just like in business, you are selling your home to a specific group of buyers.  Your home is either perfect for the empty-nesters, child-free couples, single working woman, or large and growing family.  Whoever your home caters to, make sure the home’s accessories and furniture placement all caters to their lifestyles.

9. Kitchen Tune-up. It’s been said that kitchens and bathrooms sell homes.  Remove all appliances and clutter from your counter to maximize your counter space.  Replace outdated cabinetry or give a fresh coat of stain or paint.  Consider the profit you stand to gain by replacing counter tops or putting in a new floor.

10. Bathroom Tune-up. Your bathroom should be sparkling clean, with fixtures that match (a pink toilet and white tub does not scream move-in-ready to most buyers!).  Hang a new shower curtain and matching hand towels to complete the mini-makeover.

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Best Employers for Military Spouses

Military Spouse Magazine (MilSpouse.com) recently released their 4th annual list of the Top 10 Military Spouse Friendly Employers. This annual list recognizes the most successful companies when it comes to hiring and recruiting military spouses.

Military spouses are a special group of individuals, and in many cases are highly sought after by employers due to their understanding of the military environment, commitment, talents, expertise, and extensive networks.

Top Military Spouse Friendly Employers:

What follows is a brief overview of each of the Top 10 Military Spouse Friendly Employers:

1. USAA. United Services Automobile Association (USAA) should need no introduction.  Chances are good that if you are in the military, you have heard of USAA. And if you haven’t, then you should check them out. They offer a full-service bank and brokerage firm, investments, mortgages and other loans, and various forms of insurance. They also place a high priority on hiring veterans and military spouses (there are currently 1,686 military spouses employed by USAA). USAA also offers benefits for employees whose spouse is deployed and is currently rolling out a pilot program which would allow some military spouses to work from home – giving them the opportunity to take their career with them when they PCS.

2. TriWest Healthcare Alliance. TriWest Healthcare Alliance is the company that administers TRICARE in the 21-state West Region. They employ 1,800 people in over 90 locations. Approximately 15-20 percent of their employees are military spouses. TriWest Healthcare Alliance actively seeks to employ military spouses and offers a range of benefits designed to assist military families when the military member deploys.

3. T-Mobile. T-Mobile employs over 40,000 individuals and actively recruits military veterans and their family members. Because T-Mobile has thousands of retail shops, many employees are able to apply for a lateral move and maintain their position within T-Mobile.

4. Army & Air Force Exchange Service, (AAFES). AAFES is another company that doesn’t need an introduction. AAFES has an advantage when it comes to hiring military spouses as they have a presence on most military installations, with over 3,100 worldwide installations. But AAFES also knows what it takes to serve the military community, making them a great fit for military spouses. The Spouse Continuity Program can help military spouses keep their job when they PCS, a benefit not found with many other jobs available to military spouses.

5. CSC. CSC (formerly known as Computer Sciences Corporation, now just CSC) is a 94,000+ employee company that specializes in technology and government contracting. CSC’s Military Program has multiple contracting programs located on and around a variety of military installations worldwide, making this a great opportunity for military spouses.

6. Adecco Group. Adecco is a professional staffing company providing temporary, contract, and direct hire services to companies who need to fill a position in a hurry. A Fortune 500 company, Adecco has offices in the US, Canada, and around the world. Due to the nature of the business, military spouses are easily able to pick up and move at will. Adecco will assist employees with locating work at their new duty station.

7. RE/MAX International. If there is one thing most military members know how to do, it is move, making real estate a natural match for many military spouses. RE/MAX International has over 60,000 offices in the US and offices in over 75 countries. Military spouses who move may be able to get an office referral to another location near their new duty station, giving them the opportunity to continue working.

8. The Home Depot. Home Depot is one of the largest home improvement retailers in the US, with over 2,200 stores. They have a strong history of recruiting military veterans and family members and offer a wide range of positions, from retail to distribution. The Home Depot will work with military family members during a PCS to try and transfer them to a new position if there is a Home Depot store near their new location. Home Depot also supports military members with a Home Depot military discount.

9. Health Net Inc. Health Net manages the TRICARE program for the North Region of the US. They also provide health benefits and managed care products for commercial companies, group plans, and individuals. Health Net Inc. actively recruits military spouses and veterans who are familiar with the TRICARE program. This familiarity is valuable when assisting customers make claims.

10. Kelly Services, Inc. Kelly Services has offices in all 50 states and offers temporary staffing services, outsourcing, on-site and full-time placements. Kelly Services has contacts in a diverse range of professions and skill levels and can help place people with almost any background – from entry level positions to a PhD. Kelly Services provides services for 95% of the Fortune 500 companies and a variety of other companies around the US, making it possible to remain on the Keely Services roster when you PCS.

Why Hire a Military Spouse?

  • Military spouses know sacrifice.
  • They know how to serve.
  • They offer a wealth of experience.
  • They often have an extensive network.
  • Military spouses are dedicated.

Military Spouse Magazine used the following methodology to determine their top ten rankings:

Methodology: Our rankings of the Top 10 Military Spouse Friendly Employers are based on company responses to surveys, on policies for spouses who are married to a member of the Reserve/Guard called to active duty, as well as spouses married to an active duty member of the Armed Forces. Additionally the survey covers company infrastructure and hiring policies/practices with respect to military spouses. Criteria weighting: general military spouse policies: 35%; active duty spouse policies: 25%; asset allocation: 20%; reserve spouse policies: 10%; other spouse related efforts: 10%.”

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Should You Invest In Gold And Precious Metals?

Should you invest in gold and other precious metals?

Deciding how and where to invest your money is a personal decision that should be made based on your risk tolerance, time frame, and other factors. There is risk with most investments and investing in gold, silver, and other precious metals is no different. However, when used correctly, these assets can play an important role in a well balanced portfolio. Let’s take a look at some of the pros and cons if investing in gold, silver, and other precious metals.

Should You Invest In Gold And Precious Metals?

gold and precious metals investments.jpg

Are gold and precious metals good investments?

One benefit of investing money in precious metals is the relative stability of the investment even during tough economic times. Gold and other precious metals can also be used to store value or as a hedge against inflation. If you are considering such an investment, it is important that you understand the different ways to invest in precious metals. There are five investment categories:

  • Tangible bars and coins
  • Certificates for bars and coins
  • Precious metal mutual funds
  • Stocks in mining companies
  • Gold and metal futures
  • Jewelry

Tips for Investing in Gold, silver, and other precious metals

After better understanding the way gold and precious metals investments work and deciding if the move is right for you, there are some things you need to know. First, if you are looking for diversification and a safe investment, stick with bars or coins. If you are not interested in storing actual pieces, you can also purchase certificates that are representational of precious metal ownership.

Categories of gold and precious metals. Note also there are subcategories of precious metals. Gold bars or bullion are pure (or almost pure) gold. Numismatics refers to minted coins. These coins are typically made to celebrate special events or occasions. It will take some additional research to understand how numismatics pricing is affected by the condition, design, and scarcity of each coin.

Shop around. Finding precious metals for investments requires some comparison shopping. You’ll want to look at dealers online and off. It is wise to check into each dealer’s company to find out how long they have been in business and if the dealer specializes in any specific area of the metals market. Ask dealers who their clients are typically to gauge whether or not it the right investment step for you.

Consider mutual funds, ETFs and individual stocks. If you are looking for more options in the precious metal market, you may want to consider precious metals funds and ETFs. These funds are usually fairly stable and are managed and diversified. Precious metal stocks and mining are not often as stable because of the fact you will by investing in only one company.

Futures – high risk/high reward. For those looking for a higher return potential, there are precious metal futures that may work for your portfolio. Futures refer to a contract to purchase or sell precious metals at a specific price at a particular time – similar to trading stock options. Only choose this option if you are familiar with the market and feel confidence in predicting the increase or decline in the value of metals. Otherwise, this can be a risky investment.

Jewelry. In most cases, jewelry isn’t a good investment since you are usually paying retail prices, which are higher than the melt value of the gold. But in some cases, jewelry can be a good investment, particularly if the jewelry is of historical significance or was made by a famous jeweler. Otherwise, you may be better off selling your gold for its melt value. Here are some gold selling tips to sell your gold jewelry for cash and avoid scams.

To invest or not to invest in gold and other precious metals?

Investing in precious metals and gold is an option to diversification of a portfolio but it may not be the right choice for your investment strategy. Do your research or consult with a professional to determine which option is best for you before you make any investment.

Photo credit: digitalmoneyworld

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Illinois Military Veterans Bonus

The State of Illinois is offering bonuses to veterans of the United Sates Armed Forces. The state is offering several types of cash bonuses depending on the veteran’s dates of service.

Illinois Military Veterans Bonus

Illinois Veterans  Bonus – WWII Vets

For veterans of World War II, a bonus payment of $10 per month for those serving domestically and a $15 payment per month for service on foreign soil is payable to veterans that were residents of Illinois at the time of entering service, who have served at least 60 days on active duty between the dates of September 16, 1940 and September 3, 1945, and who received an honorable discharge. Survivors of veterans are entitled to receive a one-time benefit of $1,000 if the veteran died as a result of service-related reasons during the specified time period.

Illinois Veterans  Bonus – Korea, Vietnam, and Persian Gulf Vets

For veterans serving during the Korean, Vietnam, and Persian Gulf conflicts, a cash bonus in the amount of $100 is payable to service members who served during any of the following time periods:

  • Korea –June 27, 1950 – July 27, 1953
  • Vietnam – January 1, 1961 – March 28, 1973
  • Vietnam Frequent Wind – April 29 – April 30, 1975
  • Persian Gulf – August 2, 1990 – November 30, 1995

Service members who are interested in claiming the bonus payments must have been a resident of Illinois for 12 months immediately prior to entering the service, having received an honorable discharge, and must have also received one or more of the following medals:

  • Korean Service Medal
  • Vietnam Service Medal
  • Armed Forces Expeditionary Medal Vietnam Era
  • Southwest Asia Service Medal

Individuals that are currently serving in an active duty capacity who also served in the Persian Gulf are eligible to apply for the bonus before being discharged from service.

Survivors Compensation. Survivors of military members killed in battle or by terrorist activities while performing military duties are entitled to a payment of $1,000 if veteran’s death occurred in the periods specified above. Residency of 1 year in Illinois prior to entering military service is required, as is a separate application.

POW Compensation. Persons on active duty with the Armed Forces of the United States or employed by the United States Government on, or after, January 1, 1961, who were residents of Illinois 12 months prior to entry, and who were taken and held prisoner by hostile forces in Southwest Asia, are entitled to $50 for each month or portion thereof while being held captive.

How to apply for Illinois Military Veterans Bonus

Applicants can download an application at the Illinois State website or contact the Illinois Department of Veteran’s Affairs, PO Box 19432, 833 South Spring Street, Springfield, IL 62794-9432.  Applications should be completed in its entirety and mailed to the Illinois Department of Veteran’s Affairs along with a photocopy of the applicant’s separation or discharge documents.

See the official at the Illinois Department of Veteran’s Affairs website.

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South Dakota Military Veterans Bonus

South Dakota has established a program for members of the military who are legal residents of the state.  South Dakota is paying a bonus of up to $500 for select active members an honorably discharged veterans of the Armed Forces who meet the membership criteria.

South Dakota Veterans Bonus

Military members must have been a resident of the state for no less than six months preceding their period of active service and who served during one or more of the following time periods:

  • August 2, 1990 – March 3, 1991: all active service qualifies for payment
  • March 4, 1991 – December 31, 1992: service must have been a hostile area which qualified for the Southwest Asia Service Medal qualifies for bonus payment.
  • January 1, 1993 – September 10, 2001: service must have been in a hostile area which qualified for any US campaign or service medal awarded for combat operations against hostile forces qualifies for bonus payment.
  • September 11, 2001 - (end date to be determined) – all active service qualifies for bonus payment.

Additionally, any Veteran with qualifying service before December 31, 1992 during Desert Storm and after January 1, 1993 during Operation Iraqi Freedom may be entitled to receive two separate $500 bonus payments. Veterans who have a service-related disability rated by the Veterans Administration as 10% or more disability will receive the maximum payment of $500. A verification of disability must be provided from the VA along with the application.

Any service member interested in applying for the South Dakota Veterans Bonus must provide branch of the military along with dates of service on a completed application. Certification of the application must be completed by local County or Tribal Veteran Service Officer. For applicants in other states, a certification must be completed by a Post Service Officer from one of the recognized Veterans Service organizations. All applications must be accompanied by a copy of your DD Form 214, which shows proof of military service.

Interested applicants can obtain an application via email at john.fette@state.sd.us, online at the State website. Additionally, applications may be requested by calling 605-773-7251 or via mail by corresponding to SD Veterans Bonus, 425 East Capitol, Pierre, SD 57501. Applicants living in South Dakota may request an application through the nearest County or Tribal Veterans Service Officer. See the official South Dakota Department of Veterans Affairs for more information.

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