Social Security is an important part of funding retirement. Some military spouses can be subject to a reduced Social Security benefit. That can especially be the case for teachers and other state employees.
Your lifestyle as a military member can make it pretty tempting to become a landlord. Frequent PCS moves allow you to accumulate properties and turn them into rental properties. But before you go down this path, make sure you know what you're signing up for.
If Savings Bonds are used to pay for college expenses, the interest on them could be tax free. But as you progress through the ranks of the military or if you retire from the military and start a second career, you might earn your way out of the benefit.
Does a GRAT make sense for you? If you've accumulated significant wealth during or after your military career, it could. Check out this article to get an idea if they are right for you.
With a fair bit of fanfare, DoD announced that Child Care Flexible Savings Accounts are coming to the Active Force. Should you use one? As always, it depends.
Did you ever hear the saying, "You write your own OPR"? I did. It meant your actions, determined what would go on your OPR. In much the same way, you're completing your 2023 tax return right now.
Being a military spouse is plenty challenging. Dealing with state income taxes can be one of those challenges. Congress took action to make that issue a little less challenging.
Of late, Congress seems to like to tinker with retirement plans. The Omnibus passed in December of 2022 includes what was called "SECURE 2.0" and there are some changes to retirement plans worth noting.
Wondering when DFAS might put something in your stocking? Here is the complete list of when DFAS will be posting forms to MyPay.
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