From the category archives:

Military Money

Legislation Proposed to Enhance GI Bill, VA Home Loans, and Small Business Loans for Veterans

Legislation was recently introduced in the Senate by Sen. Hillary Rodham Clinton, (D-NY). The proposed legislation will enhance GI Bill benefits, VA Home Loans, and Small Business Loans for Veterans. Proposed Enhancements: GI Bill: The proposed new version of the GI Bill would eliminate the requirement to pay into the system, and would only require [...]

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Financial Website Geared to Military Members

Not too long ago, I attended a financial briefing given by Commissioner Paul Atkins of the Securities Exchange Commission (SEC). The briefing was held at our local military installation, and was geared toward military members. During his briefing he gave us all several links to helpful websites, one of which, www.saveandinvest.org, is geared toward helping [...]

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Military Retirement Pay No Longer Capped

The National Defense Authorization Act for Fiscal Year 2007 lifted the cap for military retirement pay. Previously, retirement pay was limited to 75% of the base pay for 30 years of service. Anyone who served more than 30 years did not receive any additional compensation. Military members who retire under the Final Pay or High [...]

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Want to Buy a House or Own A Business? Join the Army

The Army is having a difficult time recruiting enough troops to meet mission needs. The war in Iraq and Afghanistan is making it difficult to not only keep good troops, but also to recruit new troops. To help combat these problems, the Army is offering new recruitment incentives to help recruits accrue up to $45,000 [...]

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Military Rentention Bonuses on the Rise

The military is having a hard time keeping its personnel numbers at high enough levels to sustain current operations. The hardest hit are the Army and Marines as many troops are getting out due to the deployment requirements or competitive job offers in the civilian sector. The article reports that bonuses range from a few [...]

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Pentagon Moves to Streamline Specialized Military Pay and Bonuses

The Pentagon recently put forth a plan to streamline the more than 60 different specialized pay categories into 8 different groups. The House of Representatives supports this initiative which should maintain current specialty pay levels through FY 2008. Changes may be seen in FY 2009, but some of those changes may be for the better [...]

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MyPay Security Features

MyPay has stronger on-line security features than many financial institutions. Earlier this year, Defense Finance and Accounting Service (DFAS) announced implemented a new security measure to myPay, the on-line website for military and civilian pay. The new security feature is a virtual keyboard used to input your PIN information. Users are required to input their PIN [...]

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Where Should You Invest – TSP or IRA?

Investing for your retirement is one of the most important actions you can do for your financial health. Even if you receive a military pension, it will not likely be enough for you to retire in style. That is why it is important to invest for your retirement now. This should help federal government workers [...]

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Interest Limit on PayDay Loans for Military Members

The DoD has pushed for a limit on the interest rate that payday loan companies can charge military members, claiming that the high interest rates payday loan companies charge hinder military readiness levels and destroy the morale of troops and their families. Last October, Congress passed the “Military Annual Percentage Rate” law, which will effectively [...]

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USAA Teams with Strikeouts for Troops in Honor of September 11th

Today marks the 6th anniversary of the September 11th attacks. Though the attacks had devastating and wide ranging effects on our nation, many positive actions have been taken since then. Americans and our international friends have united to help heal and rebuild our nation. My thoughts go out to all of those who were affected by these [...]

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