Personal Finance Tips for Military Families

One study found that military personnel have more credit problems and are more likely to make late house payments than their civilian counterparts.¹

While the financial situation of military personnel and their families mirrors the general population in many respects, heavy indebtedness and mismanagement of credit cards may be especially acute issues for service members.

当然, 军人家庭面临着独特的挑战, 比如部署到冲突地区, 海外作业, 以及不断的变化, making personal finance even more critical.

要考虑的理财技巧

• 一些可用的程序
  
  • The Savings Deposit Program allows eligible personnel serving in designated combat zones to invest up to $10,可获得高达10%的回报.²
  • Saving in a Roth IRA may be a good idea if you receive tax-free combat-zone pay. This allows you to deposit tax-free income and take tax-free qualified withdrawals in retirement.³
  • The Post-9/11 GI Bill covers the full cost of in-state tuition, 最长36至48个月, 取决于你的情况.⁴
  • Servicemembers’ Group Life 保险 protects your family with low-cost life insurance.⁵
• 设定目标—Like any mission, success begins with articulating goals you want to pursue.
• 制定预算—A budget provides the financial discipline that may help you control spending impulses that can lead to greater debt levels.
• 首先支付自己—Determine how much money you need to set aside to reach your savings goal, 从你的薪水中扣除这笔钱, and attempt to live within the limits of what remains.
• 建立应急基金—Uncertainty marks the life of military families, so be sure you have an emergency fund that allows you to be as prepared as possible for these changes.
• 控制你的债务—Indebtedness is one of the enemies of financial independence.

当你考虑你的财务目标时, 还记得, taking action today is your first and most important step.

1. 债务.2022年4月24日
2. 国防.政府. The Savings Deposit Program is a benefit offered to eligible personnel serving in designated combat zones. The guaranteed rate of return is subject to change.
3. To qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must meet a five-year holding requirement and occur after age 59½. 税-free and penalty-free withdrawals also can be taken under certain other circumstances, 比如屋主死亡的结果. The original Roth IRA owner is not required to take minimum annual withdrawals.
4. VA.政府,2023
5. VA.政府,2023. Several factors will affect the cost and availability of life insurance, 包括年龄, 健康, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. 如果保单过早放弃, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

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