As a military servicemember, you’ve made many sacrifices to serve our country. Frequent relocations, sudden calls to active duty, and transitioning to civilian life can pose significant challenges. Both Veterans and servicemembers can benefit from financial planning for military members—but in what specific ways? Read on for advice from the military-focused financial professionals with AAFMAA Wealth Management & Trust LLC (AWM&T).
There are many ways financial planning can benefit your military family and help you attain and preserve long-term wealth. Here are just a few of the key areas in which military financial planning can be beneficial.
Managing Military Pay in Retirement
Just as military wages are administered differently than civilian pay, retired servicemembers often find their financial landscape differs from their active-duty days, when they earned a combination of base pay and allowances as deemed necessary.
In retirement, having a comprehensive financial plan becomes even more crucial. This plan should assess income sources, including retirement benefits, pensions, and any additional income streams. It’s also important to strategize for tax advantages related to benefits such as housing and equipment allowances, optimizing your overall financial picture.
Saving and Investing for Retirement
If you’re like most Americans, you’re working toward the goal of retirement. You may have dedicated retirement funds and investment portfolios that slowly and deliberately build wealth for the future through the Thrift Savings Plan (TSP). At AWM&T, we are well-versed in the nuances of the TSP, military pensions, VA disability benefits, and more.
An AWM&T Relationship Manager helps servicemembers maximize and diversify investment holdings. We use risk tolerance, asset allocation, and strategic retirement plans to foster financial literacy and build toward your future. Financial planning for military retirees like you can also include help with transitioning to civilian life.
Assistance in Reaching Major Financial Milestones
Our financial planners help current and Veteran servicemembers save for and structure life-altering purchases like homes, cars, college tuition, vacations, legacy planning, and other expensive items and life events. We also identify hidden costs, insurance needs, taxes, and other items that affect your long-term budget and financial goals.
With financial planning for military families, active-duty servicemembers and Veterans like you can build a meaningful road map for acquiring the big-ticket items you richly deserve.
Can Financial Planning for Military Members and Veterans Help You?
These are just a few areas where financial planning for military Veterans and current members can help develop good financial habits and strategies. AWM&T has helped military members and their families grow and thrive, taking advantage of the many benefits military service can offer.
We exclusively serve military families just like yours. We’re here to deliver the wealth management solutions and the specialized financial advice you need and deserve. To get in touch, call 1-910-307-3500 or click here to speak to a professional. You can learn more information on our website here.
About the Firm
AWM&T was created in 2012 to meet the financial needs of military families. We provide experienced, trustworthy, long-range financial planning, investment management, and trust administration services to support financial independence and security. We aim to be the premier provider of fiduciary services by always working for our Members’ best interests.
We are proud to share the mission, vision, and values of AAFMAA, our parent company. We consistently build on AAFMAA’s rich history and tradition to provide our Members with a source of compassion, trust, and protection. Through AAFMAA’s long-standing legacy and our financial expertise, AWM&T is honored to provide personalized wealth management services to military families across generations.
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