Share
by
1 Comment

Planning for Retirement from the Military

Planning for retirement can be difficult, whether you are retiring from a military position,civilian position, or a combination of both. However, career military members may have an added benefit most civilian sector employees do not – the opportunity for two retirements: one from the military and one from the civilian workforce. This dual retirement option provides veterans with a unique situation when determining how to save for retirement. The following tips can help military veterans adequately save for retirement from their military and/or civilian careers:

Determine Your Retirement Income Needs

Trying to figure out your annual income needs when you will be 65 years old can be challenging when your retirement date is still several decades away. You have to factor in your future lifestyle requirements, rising TRICARE costs and other rising health expenses,  inflation, and various other factors.  Even though you might not be able to get an exact number, you can still come up with a rough idea that can act as a saving guide. Here is one method to manually determine how much you need for retirement:

Determine future income needs. If you plan on having a similar quality of life in retirement as you have now, then start by using your current income requirements, then adjust for inflation. Let’s look at an example and you can adjust these numbers based on your income and requirements (and don’t worry about knowing how to do the math, you can just copy and paste the equation into Google’s search engine and Google’s calculator will give you the results quickly and easily). You can also use a hassle-free site, such as RetirementCalculator.com, to run some basic retirement planning calculations.

Assumptions: Today’s income requirement is $45,000 per year (median US Income is roughly $45,000), inflation will be 3%, and you have 25 years before retirement. You can use the following equation to adjust for inflation:

Inflation Adjusted Income Requirement = Today’s required income * ((1 + inflation rate)^ Number of years to retirement)

Inflation Adjusted Income Requirement =$45,000 * (1.030 ^ 25)

Inflation Adjusted Income Requirement = $95,000 (rounded up)

Next, account for future retirement income. Using the assumptions above, you will need approximately $95,000 per year in retirement to maintain the same standard of living in 25 years as you enjoy now. But that doesn’t mean you need to save enough money to withdraw $95,000 per year from your retirement accounts. You also need to account for your retirement income, such as Social Security benefits and your military or private pension(s). Be sure to take into account what these benefits might be worth in the future, not the present day value. Again, we are dealing with a 25 year time frame, so use your best estimate.

Once you have this number, subtract it from your annual living requirement of $95,000. For example, if you anticipate your military pension and Social Security Benefits to be worth $50,000 per year, you will need to come up with an additional $45,000 per year, not the full $95,000. Also keep in mind that you can increase your social security requirements if you wait longer to begin receiving benefits.

Account for additional retirement accounts and investments. Many people have other retirement accounts such as an IRA, Thrift Savings Plan, or 401k. This money will also work toward your retirement and should be accounted for when you make your retirement calculations. Additionally, be sure to keep in mind any other investments you may have, such as rental properties and other investments held in taxable investment accounts.

Determine your remaining retirement income needs. Once you have a good idea of how much you will earn from your pensions, retirement accounts, and other investments, you can subtract these numbers from your annual income requirements to get a better idea of how much more money you need to save for retirement. This will be your savings goal.

Start Retirement Planning Early

The earlier you begin planning for retirement, the better. In fact, military members should start retirement planning early, since a military pension might not be enough money for retirement by itself. Military members have access to the Thrift Savings Plan (TSP), which is similar to a civilian 401(k) plan. Like a 401(k) plan, the TSP offers military members a way to make tax-deferred investments. A Roth version of the TSP is scheduled to roll out in 2012, giving military members another retirement account option. TSP members can make withdrawals from their TSP during retirement, or they can roll their TSP into an IRA when they retire or otherwise separate from the military. This gives TSP members more long term flexibility in managing their investments.

Maximize Post-Military Employment and Investments

Many military members are eligible to start earning a military pension in their late 30′s or early 40′s, which is young enough to begin a post-military career. In some cases, veterans are able to earn enough service time to gain another pension from a private company or from a different government organization. The possibility of dual pension plan incomes, in addition to Social Security Benefits, can greatly increase your quality of life in retirement and potentially allow to to retire more quickly than you anticipated.

Even if you aren’t able to receive another pension from your post-military employment, you can do your best to increase your savings in retirement accounts such as the TSP if you remain in government service, or through an IRA or 401k. Contributing as much as you can to these retirement accounts will help provide you with the retirement income you need to maintain a nice quality of life in your retirement years.

Finally, Take Advantage of All Benefits Available to You

There are a variety of state and federal benefits available to veterans, including health care, base and commissary privileges, educational benefits, homestead exemptions, and more. It is recommended to meet with a veteran benefits advisor in your local area who can help you better understand which benefits might be available to you, and to help you better understand how to qualify and apply for those specific benefits.

*A few notes: This article covers a few basic assumptions and should only act as a rough guide for do-it-yourself investors. It is highly recommended that you meet with a professional financial planner before making the final decision to retire. If you are younger you might find it helpful to meet with a financial planner every few years to ensure your retirement plan is on track.

Share
by
Leave a Comment

Stop-Loss Pay Deadline Extended

The government recently extended the deadline for eligible servicemembers, veterans and their beneficiaries to apply for Retroactive Stop Loss Special Pay (RSLSP).  The original October 21st 2010 deadline has been extended to October 21, 2011, giving eligible veterans more opportunity to apply for the stop loss benefits they earned.

Stop-Loss Pay Deadline Extended to October 21, 2011

About Stop Loss Pay: Retroactive Stop Loss Special Pay was established in 2009 by the 2009 War Supplemental Appropriations Act. RSLSP applies to eligible service members who were involuntarily required to extend their military service between September 11, 2001 and September 30, 2009.  It pays $500 per month or partial month that has been served in stop loss status.

How to apply for  Stop Loss Pay Benefits. Eligible servicemembers, veterans, or beneficiaries must submit a claim through their respective branch of the military in order to receive this benefit (information for each branch is listed below).  Applicants must supply evidence to support their claim, including personnel records, orders establishing a retirement date which was later changed due to stop loss, revocation of separation or retirement orders, and their military service record (DD Form 214) if separated from military service.

For more information, please read how to claim military stop loss benefits, or visit http://www.defense.gov/stoploss.

Apply Now for Retroactive Stop Loss Special Pay

The following service-specific sites provide more information and allow you to begin the RSLSP claim process.

Air Force

  • Phone: 1-800-525-0102
  • Web Site
  • E-mail (active) – afpc.dpsos.stoploss@randolph.af.mil
  • E-mail (guard/reserve) – arpc.contactcenter@arpc.denver.af.mil

Army

  • 1-877-736-5554
  • Web Site
  • E-mail – RetroStopLossPay@CONUS.Army.Mil

Marine Corps

  • Phone: 1-877-242-2830
  • Web Site
  • E-mail – stoploss@usmc.mil

Navy

  • Phone: 901-874-4427
  • Web Site
  • E-mail – NXAG_N132C@navy.mil

Please share this. If someone you know may be eligible for Retroactive Stop Loss Special Pay, then please encourage them to apply as soon as possible.

Share
by
8 Comments

How to Claim Military Stop Loss Benefits – Deadline Extended!

UPDATE – Stop Loss Claim Deadline Extended. The deadline to claim Retroactive Stop Loss Special Pay has been extended to October 21, 2011. See Stop Loss Pay Deadline Extension announcement for more details.

Time is running out for servicemembers eligible for Retroactive Stop Loss Special Pay (RSLSP).  Eligible recipients must submit an application for benefits by October 21, 2011 or miss out on the opportunity to receive benefits.  Established by the 2009 War Supplemental Appropriations Act, RSLSP pays $500 per month or partial month that has been served in stop loss status.

Military Stop Loss Benefits Ending Soon

Who is Eligible for Military Stop Loss Benefits?

To be eligible for stop loss benefits you must be a servicemember, veteran or beneficiary of a servicemember who had their service involuntarily extended between September 11, 2001 and September 30, 2009 due to Stop Loss.

How to apply for military stop loss benefits

In order to receive Stop Loss benefits, eligible parties must submit a claim.  Benefits will not be automatically distributed, therefore this important step is crucial to ensure you receive this special pay.  The average benefit for eligible servicemembers is $3,700 but your actual claim will be determined by the amount of time you were required to remain on active duty.

When can you submit a claim?

Applications for benefits have been submitted since October 21, 2009 and will end on October 21, 2011.  Applications submitted and received after the December 3 deadline are under no authorization to be paid.

How to submit a stop loss claim

To submit a claim for Stop Loss benefits, eligible servicemembers must print, complete and sign the following Stop Loss claim form: Department of Defense Form 2944, Claim for Retroactive Stop Loss Payment and submit it by October 21, 2011.

After the application is complete, it will be necessary to select a method of submitting the form as well as supporting documents.  Servicemembers can learn more about  submitting a claim based on service specifications at your service’s Stop Loss website.  You may be required to provide the following documents based on specific status and service.

  • Personnel record- Enlistment or reenlistment documents which state the original expiration date of service.
  • Certificate of Release or Discharge from Active Duty and/or Correction to DD Form 214, Certificate of Release or Discharge from Active Duty.
  • Orders which establish retirement before the actual date of retirement as stated in DD Form 214 or DD Form 215.
  • Approved orders for resignation or transition which establish a separation date earlier than the actual date of separation as stated on DD Form 214 or DD Form 215.
  • Documentation from individual’s chain of command corroborating separation or deployment.
  • Revocation of separation or retirement orders.

Combat Zone Tax Exclusion

If a servicemember served in an area that is combat zone tax excluded during Stop Loss special pay, RSLSP will apply.  Consult the DoD Financial Management Regulation, Volume 7A, chapter 44, paragraph 440103A for a complete list of combat zones.  This information can also be accessed here.

In conclusion, over $127 million in special pay has already been paid out to 30,000 servicemembers from different branches of the military.  It is estimated that there may be thousands of additional servicemembers who are eligible that have not yet submitted a claim.   These individuals are encouraged to submit an application for benefits before the deadline to ensure approval of this special pay.  Please note that stop-lossed servicemembers who voluntarily extended their service or reenlisted and received a bonus already will not be eligible for RSLSP.

Share
by
Leave a Comment

VA Loan Closing Costs – What to Expect

We recently discussed VA Loan funding fees, which are required of all veterans buying a home through a VA Loan, with the exception of those who receive a service-connected disability payment from the VA (or would receive it if they weren’t receiving retirement pay), and a surviving spouse of a veteran who died while in service, or of service connected disabilities. While that covers funding fees, it doesn’t cover all the associated VA Loan closing costs and fees you may be required to pay. Let’s cover a few other closing costs and fees home buyers using the VA Loan might experience.

VA Loan Closing Costs

The VA has strict rules regarding which fees veterans are required to pay, and which fees are considered non-allowable. Those fees which are considered “reasonable and customary” by each local VA office are considered allowable, otherwise they cannot be charged to VA Loan borrowers and are generally paid for by the seller. If you are applying for a VA Loan, you should be aware that some, or all, of the following fees may be applicable to your VA Loan application. Additionally, the lender may charge a fee equal to 1% of the loan, which can be used to cover expenses not on the following list:

  • VA Loan Closing Fees. These are generally minimal if non-existent, and are often rolled into the purchase price of the house.
  • VA Loan Funding Fees. Unless you are exempt, VA Loan funding fees are required by federal law.
  • VA required inspections and appraisals. The VA requires certain home inspections to be performed before they will fund the loan. The house must be in good repair, must match the description on all documentation, and it must appraise for the sale price or higher.
  • Credit report and score. This is charged by the lender, and is required. You can expect to pay around $15-$40 for this, but be sure to get it in writing before agreeing to pay – anything over $40 is excessive (note: you can get your own free credit score for personal use).
  • Title Insurance. This is essential, especially in our current economy. Many properties have been affected by foreclosures, fraud, and other serious problems – protect your investment!
  • Flood zone determination. Your lender will require you to carry flood insurance if your new home is in a flood plain or flood hazard area.
  • Survey. If required.
  • Taxes and assessments. Home buyers may be required to pay a portion of taxes or other assessments based on federal, state, and local laws.
  • Recording fees, documentation fees, and postage. Some lenders charge a variety of documentation and mortgage preparation fees. Be sure to get an itemized list in writing before going to closing so you have a good idea of what you are being charged, and whether or not the rates are reasonable.

Additional VA Loan Closing Fees

As mentioned above, the VA has strict rules regarding which fees cannot be charged to veterans. These fees are generally covered by the lender out of the flat 1% fee.

  • Documentation fees
  • Postage
  • Notary fees
  • Mortgage assignment and transfer paperwork
  • VA Loan application fees
  • and more

You should be aware that many of the fees associated with a mortgage are negotiable and should be discussed in advance of closing. Always review any associated fees and question them if you are in any doubt regarding the nature or cost of the fees. This is your home loan and your money, and no one cares about it as much as you do!

Do you know of any other VA Loan related fees?

Looking for a VA Loan? Check out VAMortgageCenter.com, which offers competitive rates on VA Loans and can help walk you through the entire application process.

Share
by
Leave a Comment

Understanding VA Home Loan Funding Fees

VA Home Loans are one of the best ways for veterans to finance a home purchase. VA Loans offer veterans a chance to buy a house with little to no money down, and in many cases, the VA Loan interest rates are competitive with conventional mortgage rates, sometimes they are even lower. This was the situation my wife and I found when we recently used a VA Loan to purchase our home.

We would have easily qualified for a conventional mortgage since we have excellent credit scores, and since we put down over 2o% of the purchase price we would not be required to pay PMI, equalizing one of the benefits of using a VA Loan, since VA Loans are backed by the government and don’t require PMI. A conventional loan also would have been less work on our end – it would have required less paperwork and probably would have closed a few days more quickly. However, we were able to secure a lower interest rate, which saved us several hundred dollars per year and made it well worth applying for a VA Loan.

The final issue we had to consider, in addition to the interest rates, was the total amount of fees associated with the loan. This is where understanding how VA Loan funding fees work is important.

No closing costs with a VA Loan, but you have to pay a funding fee

Many veterans choose to use a VA Loan to finance their home is because they don’t have to pay any closing costs on their purchase and they don’t have to make a down payment. This can save home buyers several thousand dollars on the closing date. But VA Loans may be subject to a funding fee, which is required by federal law and is something that conventional loans don’t have. It’s important to be aware of these fees, and account for them when comparing a conventional and VA Loan.

VA Loan funding fees

The VA Loan funding fee is currently assessed at 2.15% of the purchase price of the home for veterans who are using a VA Loan for the first time and don’t put any money down.Veterans buying a home without a down payment and using a VA Loan for a second time are required to pay a 3.3% funding fee.

So a $200,000 house would have a $4,300 funding fee for a first time VA Loan user, and $6,600 for a second time VA Loan user. The VA Loan funding fee is required by federal law to have veterans help pay for the benefit of being able to buy a house with no down payment (this helps US tax payer dollars go further). This fee can be paid at closing, or it can be rolled into the purchase price – allowing the veteran to buy the house with no down payment.

VA Loan Funding Fee Reductions

Borrowers who make a down payment may be entitled to a reduction in their VA Loan funding fees. A down payment of 10% will result in a first time funding fee of 1.5%, greater than 10% will be 1.25% of the loan. The fess are 1.75% and 1.5% respectively for second time VA Loan users.

Members of the Guard/Reserves may pay a 2.4% fee for first-time use with no down payment, a down payment up to 10% requires a 1.75% fee, and a down payment of 10% or more comes with a 1.5% funding fee. Guard/reserve veterans using the VA Loan a subsequent time are required to pay a 3.3% funding fee if they are not making a down payment, a 1.75% fee for a down payment up to 10%, and a 1.5% funding fee for a 10% or greater down payment.

VA Loan Funding Fee Exemptions

There are some exemptions for the funding fee – for example, veterans may be exempt if they receive service connected disability compensation from the VA, and veterans who would be entitled to receive compensation for service-connected disabilities if they did not receive retirement pay. Additionally, surviving spouses of veterans who died in service or from service-connected disabilities may be exempt from paying VA Loan funding fees.

Be sure to speak with your lender if you believe you may be eligible to have the VA Loan funding fee waived. If you are eligible for this exemption, you will need to provide documentation of your VA disability to your waiver. You can accomplish this by contacting your regional VA center with your lender’s information and they will fax the appropriate documents to your lender. Allow for approximately 1 business week for this, though in some cases it can be accomplished within a day or two.

Being Aware of Funding Fees Helps You Compare

The VA Home Loan funding fees can make a big difference in the bottom line, and in some cases, might equalize the closing costs if you were to use a conventional loan. The best way to compare a VA Loan to a conventional loan is to list all associated costs, determine your down payment, and decide which option is best for your specific situation. If you are making a large down payment (20% or more), then you can probably make a case for either loan. If your down payment is small, or non-existent, then it may be best to go with a VA Loan. Again, run the numbers for your situation, and see which option is best.

Looking for a VA Loan? Check out VAMortgageCenter.com, which offers competitive rates on VA Loans and can help walk you through the entire application process.

Share
by
1 Comment

How to Find the Best Financial Advisor

After being do-it-yourself investors for over 40 years, my recently-retired parents have decided they’re ready to seek professional help. Their conservative investing style has served them well (especially over the last few years), but they don’t like the idea of having to settle for pitifully low rates of return. They want to keep their money as safe as possible, but they’re coming around to the idea that they’ll have to branch out beyond certificates of deposit to generate enough additional income to maintain the lifestyle they want.

When they asked me how to find an excellent wealth management company, I recommended that they get referrals from friends or to contact reputable companies. I also told them to schedule a meeting with each prospective advisor and to ask him or her at least the following 8 questions:

Question #1 How long have you been in business?

Financial Advisor Meeting

Be sure to interview your financial advisor

Never assume that an advisor’s age or fancy office equates to having experience in the industry. Find out when the financial firm got started, how many people are on staff, and exactly how long they’ve been working with clients.

Question #2: What services do you provide?

Don’t assume that you know exactly what services an advisor or their company provides. Ask about specific services that you need, such as investment management, retirement planning, college planning, estate planning, or insurance analysis. It’s important that the advisor or firm’s expertise is a perfect match for you to get the best results.

Question #3: What licenses do you hold?

Find out whether the advisor is a Registered Investment Advisor (RIA), a stockbroker, or an insurance agent. Knowing an advisor’s designation tells you how he or she earns a living and what kind of products they’re likely to recommend.

Question #4: Who do you typically work with?

Before you give a potential advisor any information about yourself, ask them to describe their typical client in terms of age and portfolio value. It’s best to work with someone who has expertise working with people just like you.

Question #5: How often do you provide account updates?

Find out how often you’d receive updates, phone calls, and statements from a financial advisor. If having up-to-the-minute information is important to you, ask if you would be able to check the status of your accounts online.

Question #6: How are you compensated?

It’s important to understand how an advisor charges clients. Would you have to pay commissions on product sales, flat fees, a percentage of your overall portfolio, or all of them? Advisors can hold multiple financial licenses and therefore they can earn income in multiple ways, including perks from third parties and prizes for sales contests. It’s also important to note that many financial advisors don’t have a fiduciary duty to their clients and may recommend products which earn them the highest commissions.

Question #7: What additional costs would I have?

Find out if you’d have to come out-of-pocket to pay for expenses like account set-up fees, transfer fees, or maintenance fees. Get any additional charges disclosed to you in writing before you agree to use the advisor’s services. Also find out if you’d be required to sign a contract to retain the advisor’s services.

Question #8: What is your investment philosophy?

Advisors should have a fundamental investing philosophy or approach that they’ve developed. Find out what it is, why they use it, how long they’ve used it, and if they can provide it in writing. Ask if all the advisors in the firm manage investments the same way or if they handle clients differently. It’s best to work with a company that has a unified methodology with a high degree of collaboration among advisors, so your financial security doesn’t rest on the shoulders of just one person.

Do You Need a Financial Advisor?

If you’re not sure whether you could benefit from having a financial advisor or not, read “Do You Need a Financial Advisor?” or listen to the audio version on the Money Girl podcast.

Interviewing a financial planner and getting answers to the right questions will help you understand what an advisor can do for you and what they can’t. He or she should also ask you lots of questions and offer specific information about the services and typical results they provide for average clients.

It’s wise to interview at least two or three people so you have some means of comparison. You never know, they might even teach you something you didn’t know about what you should be looking for in a good advisor. If you don’t like a prospective advisor or their firm, simply thank them for their time and move on to the next candidate.

In your experience, what other questions do you think are important to ask a prospective financial planner or investment advisor?

Share
by
Leave a Comment

Pros and Cons of Refinancing a VA Loan

One of the most popular military benefits is the VA Loan, which makes home ownership more easily attainable for thousands of veterans. Sometimes you can lower your monthly VA Loan payment by refinancing it at a lower interest rate, or by changing from an adjustable rate VA Loan to a fixed rate loan. Whatever the reason for refinancing your VA Loan, you should consider the pros and cons as they apply to your situation.

Benefits of s VA Loan Refinance

refinance a VA Loan

Should you refinance a VA Loan?

If your VA Loan is an Adjustable Rate Mortgage (ARM), you probably find that the interest rate tends to increase rather than decrease, which causes your monthly payment to increase.  It’s not unusual for homeowners with ARM loan payments to find themselves paying more than the current fixed mortgage rates. In this case, you will probably benefit greatly by refinancing your mortgage to get a lower, fixed interest rate.

If you have a first and second mortgage, refinancing into a single mortgage might help you consolidate your monthly bills to help you save money and make bill paying easier.

No matter what kind of mortgage you have, if the interest rates are at least a point lower now than they were when you obtained your loan, refinancing is probably worth the time and effort.  If you refinance for the same number of years you’ll extend your payment date, but end up with a lower monthly payment.  You can pay more than the monthly payment in order to reduce the number of years you owe on your home.

Disadvantages of a VA Loan Refinance

Refinancing a VA Loan usually involves fees, though in some cases you can roll the costs of the refinance into the new loan instead of paying anything out of pocket (you can do this with a VA Streamline refinance). Be sure to evaluate how the fees will affect your monthly payment and determine if it is worth your effort. If you know you will be moving within a few years it may not make sense to refinance because you won’t have time to recoup any savings.

Refinancing may cause you to pay more years on your mortgage.  For example, if you had only 15 years left on your 30 year mortgage, you may need to refinance for another 30 year term, which causes you an additional 15 years of payments. The only time this would make sense is if you could no longer afford your current payment and extending the loan for an additional 15 years will help prevent a foreclosure. Just keep in mind that if you do this, you will be paying thousands more in interest payments in the long run. Extending the duration of your loan should be a last resort.

Alternatively, sometimes a mortgage refinance will be a shorter period of time, which can increase your monthly payment drastically. Here is an example of refinancing a 30 year VA Loan into a 15 year loan.

If you are refinancing a mortgage in order to cash out your home equity (and use the money for home repairs, vacation, or something else) keep in mind that if home prices should drop you will owe more than the value of the home.  This is a problem if you try to sell your home before home values increase, again.

Run the numbers and apply them to your personal situation

In some cases, refinancing a VA Loan can save you hundreds of dollars each month, allowing you to quickly recoup the associated costs of refinancing your VA Loan. Additionally, refinancing into a fixed rate loan from an ARM can give you stability and certainty regarding your monthly VA Loan payment. In other cases, you may not save much with a refinance, and it may end up costing too much to be worth your time. Your best bet is to sit down and run the numbers based on how much you will save, how long you will live in the house, and any other relevant information.

Looking for more information about refinancing your VA Loan? Here are more options for refinancing a VA Loan and current VA Loan rates.

photo credit: nikcname.

Share
by
3 Comments

The Military Wallet Recognized as Military Blogger of the Month presented by USAA

We are happy to announce that The Military Wallet was chosen as the June 2011 Military Blogger of the Month presented by USAA. USAA does a great job for our military and their family members and it is a great honor, and a wonderful surprise to be recognized by such a great financial institution.

What Is The Military Blogger of the Month presented by USAA?

USAA Military Blogger of the Month

Military Blogger of the Month presented by USAA

Each month, USAA identifies bloggers who “have gone above and beyond to advocate public financial health and provide military audiences with valuable, money tips, and support for troops and families.”  The award seeks to identify blogs that provide military audiences with valuable money tips in support of troops and their families. See the entire Press Release with the announcement on USAA.com.

About The Military Wallet. The goal of this website is to provide military members, veterans, and their families with information to help them improve their financial situation. This site was founded by Ryan Guina, a veteran of the USAF who started this site after his experiences in the military left him wanting a better resource for financial topics related to the military. He also runs a sister site the The Military Wallet – Cash Money Life, which is a financial website geared toward people of all walks of life, and includes tips on money management, small business, career topics, and reviews of financial products and services.

Ryan is no longer serving on active duty, but considers it a pleasure to continue serving the military community through The Military Wallet.

My experience with USAA*. I would be remiss to tell people how USAA has been a factor in my life. I have been a member of USAA for over a decade now, since I used USAA to insure my first vehicle while I was stationed overseas. I have been banking with them just as long and use USAA for a variety of financial services and insurance products. I am happy to recommend USAA products and services to everyone, but like all financial products and services, I recommend shopping around. For example, I used to insure my motorcycle with another company after I found much better rates (the USAA rep actually recommended I go with another company because she thought the other company would offer better rates – how is that for service!).

*sharing my experience with USAA was not a condition of this award.

Criteria for Military Blogger of the Month presented by USAA

The Military Blogger of the Month presented by USAA designation presented to individuals or organizations that:

  • Blog in support of military members and their families.
  • Help educate audiences about military benefits.
  • Demonstrate that they have military members’ best interests at heart by helping their audiences understand and aspire to financially healthy habits.
  • Pass along valuable financial news and tips that…
    • are based on research and the advice of Certified Financial Planners.™
    • give military members peace of mind.

It is an honor to have our site recognized as meeting these criteria.

Thanks to our servicemembers. This site would not exist without the men and women who have worn our uniform, or without those who love and support them. It is a pleasure to continue serving you and we look forward to continuing to bring you relevant content to help you improve your financial situation. Please feel free to contact us at any time with questions or comments and we will do our best to respond or point you in the right direction.

Copyright © The Military Wallet 2007 - 2013 All Rights Reserved. About | Contact | Privacy Policy | Sitemap
TheMilitaryWallet.com is not connected with the Department of Veterans Affairs or any government agency and is for informational and entertainment purposes only. The content on this site should not be considered professional financial advice. References to third party products, rates, and offers may change without notice. We may receive compensation through affiliate or advertising relationships from products mentioned on this site. However, we do not accept compensation for positive reviews; all reviews on this site represent the opinions of the author.