There comes a time in everyone’s life where they have to make the decision to get out of the military. Whether it’s retirement or separation, everyone will eventually have to part ways with their service. In doing so, they will have to make one of many major decisions: “Where do I want to live?” Personally, […]
This article is not intended to provide all the resources & information regarding the Post 9/11 GI Bill. Instead, I figured I would tell my story of how I set my children up for the GI Bill to provide an example of how it could be done. For a more comprehensive view of the ins […]
One of my friends asked me to write about the impacts to your cash flow when you retire. While your cash flow may go up or down based upon a lot of non-military factors, such as relocation or your follow-on career, this blog post will attempt to address the military-specific changes that occur, and which you should take into account when you’re planning for separation or retirement.
For a lot of military households, tax preparation is simple, straightforward, and free. Every year, just collect the paperwork and head down to the VITA (Volunteer Income Tax Assistance) office, and the staff can help you do your taxes. Or, if you’d rather do it on your own, you can either use a software provider […]
One of the best ways to save for college is with a 529 College Savings Plan. Why should you care about a 529 plan? Because they can offer some very nice tax benefits as an incentive to save for college. Let’s take a look at 529 plans and why they are a great way to […]
Which states don’t tax military retirement pay? You may be surprised to learn that 25 states do not tax any of your military retirement pay, while 19 states offer special considerations for military retirement income or other pension plans. That leaves only 7 states that offer no special tax treatment of military pensions. (Washington D.C. […]