This Veterans Day, Client Advisor Mark Herman discusses the many financial and retirement benefits that the military offers. Mission Wealth is proud to partner with those who have graciously served our country. Thank you to all who have sacrificed and to all active military members.
While less than 1% of the population currently serves in our armed forces, over 7% have served at some point and there’s a high likelihood that you have friends or family who are veterans. Very few choose to join the military for the financial benefit alone, as they were likely compelled to serve something greater than themselves.
However, while the decision to join the military entails certain risks and sacrifices, there are also several notable benefits, both during and after service, that may pay off financially.
Know Your VA Benefits
Veterans are eligible for benefits through the Veterans Administration, ranging from health care, buying a home with a VA loan, or even support for starting a small business. The key to many of these benefits is knowing what you qualify for, which in some cases is based on the veteran’s disability rating.
Many veterans leave the military due to injuries or other health concerns connected to their service. The VA offers disability compensation, a monthly, tax-free benefit which can have a significant impact on a family budget if the veteran is not able to attain full employment. The full benefits are listed here.
Check Your State Benefits
Ready to work with an expert in military financial planning to create a financial future for your family?
Meet Client Advisor Mark Herman, CFP®, MBA
Healthcare and Other Considerations
Military Financial Advisors at Mission Wealth
The benefits that come with military or federal service can be a significant benefit to your family if properly utilized, and Mission Wealth can help incorporate these into your financial plan. This includes assistance with college planning, tax planning, retirement, and legacy planning. Understanding what benefits are available to you is the first step. Work with an expert in military financial planning to create a financial future for your family.
Mission Wealth Client Advisor Mark Herman, CFP®, MBA, spent 7 years as a Blackhawk helicopter pilot and now serves in the U.S. Army Reserve. He is also an instructor for the Army Command and General Staff College. If you’re interested in working with Mark, please reach out to us using the form below.
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