Many current retirees have a background of military service. Benefits from military service can become a big part of the retirement planning picture, but it can be hard to know what benefits are available and how you can use them. In this week's episode, Devin and John talk about military-related benefits and how to get information about them.
You can break down most military benefits into one of three categories: retirement benefits, service-connected disability benefits, and non-service connected disability benefits.
Retirement benefits are earned through career of military service, generally more than 20 years. Retirement benefits include lifetime income and Tricare health coverage.
Service-connected disability benefits are available for those who are disabled as the result of their military service. In addition to the benefits available from the Department of Veterans Affairs, there may be benefits available from your state or local government. One important thing to note: many times, the disability that was acquired while you were in the military may not show itself for many years.
Non-service-connected disability benefits are available to veterans who require care for a disability that has no relationship to your military service. Usually called "aid and attendance benefit," or improved pension. It is there for people who need help with their care, and provides monthly income.
If you have served our country through military service, understanding your benefits is an important part of your overall financial plan. Please share this information with your military friends and family!
Resources mentioned in this episode:
John's firm's website: http://RossandShoalmire.com
Devin and John's free ebook: http://bigpictureretirement.net/steps
Once a month, Devin and John answer listener questions. You can submit your questions to email@example.com
So you find yourself retiring in a second marriage? This week’s episode is full of useful information and fascinating stories about one of the most complicated family situations: Second marriages.
There is so much to consider: Social Security benefits, pensions, other benefits, children, houses, long-term care insurance, and much more.
Steps you need to take before you have a second, or subsequent, marriage:
You won’t want to miss a minute of the conversation about this oh-so-important topic.
Do you have a question for Devin and John? Send them to firstname.lastname@example.org.
John shares the stories of when, and why, you would disinherits a spouse. Devin gives advice to Kim who wants to know how to say “no” to her adult children’s request for money.
For more great advice about how to avoid BIG MISTAKES when planning for retirement, download our free guide: 3 Simple Steps to a Successful Retirement at http://www.bigpictureretirement.net/steps
We are half way through the year and it's time to review the market performance with Andrew Comstock from CastlebarAM.com.
DOW (DJI) opened at 20,665.17 on April 3, 2017 and closed at 21,287.03 on June 29, 2017.
The S&P opened at 2,362.34 on April 3, 2017 and closed at 2,423.41 on June 30, 2017
Jean Chatzky, financial editor of NBC's Today show, discusses her new book “AgeProof” about balancing your health and your wealth. She shares some habits that can help you thrive, both financially and physically.
Working with a partner can help you meet your financial goals and your health goals. A running partner will motivate you to get out even when you don't feel like it. Find a money partner to help you meet your financial goals.
We know that saving money works best is when we put it on automatic pilot. Do the same thing with your health! Schedule your workouts. Have two or three healthy, simple meals that you can just grab out of the refrigerator without thinking.
Small tweaks can turn bad habits into good habits. We've all heard that you should swap out home-brewed coffee for expensive coffee shop habits. How can you do the same thing with your health? Rather than convincing yourself to quit a bad habit, figure out how you can adjust it.
For more information about Jean and her new book, visit http://www.bigpictureretirement.net/episode-27-ageproof-living-longer-without-running-money-breaking-hip/