The IRS recently announced that over 130,000 disabled veterans are due refunds from the IRS due to a “computer glitch” which caused the IRS to incorrectly withhold taxes on disability severance payments to combat-injured veterans. These payments should be non-taxable payments, just like disability compensation from the VA. This error occurred between 1991 and 2016, […]
The Best VA Loan Companies for 2018
You can get a VA loan with just about any lender anywhere, right? Possibly. But some VA lenders are just better than others. Yes, many mortgage lenders offer VA loans, but they don’t specialize in the loan type. For that reason, we’ve compiled this list of the best VA loan companies and/or lenders available in […]
2018 VA Service-Connected Disability Compensation Rates
The 2018 Cost of Living Adjustment for VA disability compensation of 2.0% was the largest COLA increase in six years. This rate increase followed rate increase of 0.3% in 2017, and no rate increase in 2016. The following article explains VA Service Connected Disability Ratings, how VA disability compensation works, and shows the 2018 VA Disability […]
New Federal Veterans ID Card Now Available – How to Apply for the New VIC
Update – May, 2018: The VA has begun issuing ID Cards. I applied for mine in early 2018 and received it in May, 2018. I have heard from several other veterans who have received their ID cards. The VA has stated it can take up to 60 days to receive your ID card, so please […]
Shades of Green Military Resort at Walt Disney World, Orlando FL
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http://traffic.libsyn.com/militarywallet/TMW_032_Disney_Military_Discounts_Shades_of_Green.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Google Podcasts | RSSMy family and I just returned from a wonderful Walt Disney World vacation. As you probably know, Disney World is very expensive. Thankfully, military members have access to some excellent discounts that can help you cut your costs by more […]
TSP Loan – Dangers of Taking a Loan from Your Thrift Savings Plan Account
Recently, Michael Kitces published an article titled, “Why Paying Yourself 5% Interest On A 401(k) Loan Is A Bad Investment.” My first thought was, “If it’s a bad idea for a 401(k) loan, it must be even worse for Thrift Savings Plan loans.” After all, the interest on a TSP loan is nowhere near 5%…it’s […]
AAFES and Military Exchanges to Allow Veterans to Shop Online – Registration Now Open
Update: Veterans can now verify their online shopping eligibility at VetVerify.org. The Exchanges are also accepting some veterans as beta testers before opening the doors to all veterans. See updates below for more information. Would you like to be able to shop on the online military exchanges and enjoy tax free shopping, military discount pricing, and […]
How the Military Family Life Counselor (MFLC) Program Can Help You
During our recent deployment, I was home alone with my four young children, and I came close to losing my mind. My oldest daughter was eight. I needed her to be helpful so I could manage the younger siblings. Instead, she started acting out, screaming at me, hitting her brothers, and talking back to her […]
VA Interest Rate Reduction Refinance Loans (IRRRL) Case Study
This article was suggested to me by a long-time shipmate & colleague (thanks, Dave!). Over my life, I’ve refinanced several times using an IRRRL, when it made financial sense for me to do so. However, it wasn’t until I got this question that I thought about researching it a little more for an article and […]
Military TSP – How Service Members Can Make the Most of Their TSP Plan
Congress created the Thrift Savings Plan as part of the Federal Employees’ Retirement System Act of 1986. The Thrift Savings Plan offers the same tax and retirement savings benefits that individuals receive from their 401(k) plans through private corporations. It was available to federal civil service employees upon its creation. But, members of the uniformed forces, […]