Financial Focus Financial tips for new veterans to a 401(k) or similar employer-sponsored retirement In any case, if you have dependents, it's essential you plan, and you might be able to roll your TSP bal- On Veterans Day, we honor the men and wom- en who have served in our armed forces. If you've recently separated or retired from the military, or you ance into your new employer's plan. If you become will be leaving soon, you can be proud of the service self-employed or open your own business, you may you've provided to your country. But once you're a veteran, away from the structure and imperatives of the military, you may need to take greater control over managing your finances and protecting your family. For starters, consider housing. When you were on active duty, you may have moved around frequently and found it more convenient to rent, but you may now want to purchase a house. Assuming you meet the eligibility requirements, you could apply for a VA loan, which typically does not require a down payment and is usually offered at a favorable interest advantage of employer-sponsored health coverage. As rate. Make sure that you only take out a mortgage you can afford - you don't want to become "house poor." You'll also want to save and invest for retirement. don't lose life insurance coverage, even for a short time. Finally, be prepared for one negative aspect of becoming a veteran: fraud attempts. It's unfortunate, be able to choose from several retirement plans, including a SEP-IRA, a SIMPLE IRA or an "owner-on- but scam artists frequently target veterans. Scammers ly" 401(k). But no matter what plan you have, try to contribute enough to meet your income needs in retirement, which could last two or three decades. Furthermore, once you become a civilian, you may personal information, which can then be used for need to consider two topics that have special impor- identity theft. Or they might try to charge you for ac- tance to you and your family: health and life insur- ance. Regarding health insurance, you should be able them free from the Department of Veterans Affairs. to get coverage through TRICARE and/or the Veter- ans Administration, but you also may want to take may tell you that you qualify for "secret" government programs, but you must first pay a fee or provide cess to your service records, even though you can get As a general rule, be suspicious of anyone you don't know who seems overly eager to help veterans. Entering a new phase in your life can be ex- citing and rewarding - and you'll enjoy it even more when you get comfortable with your new financial for life insurance, you will lose the coverage offered by the military (Servicemembers' Group Life Insur- ance, or SGLI) shortly after you separate from active duty, so you'll want to consider your options for your SGLI, such as converting it to either Veterans Group Life Insurance or a civilian policy. Your new employer This article was written by Edward Jones for use by your may provide some form of insurance as an employee local Edward Jones Financial Advisor. benefit, but it might not be sufficient for your needs. arrangements. While on active duty, you could invest in the Thrift Savings Plan (TSP), but when you separate from ser- vice, you can no longer contribute to it. Now, if you get a job in the civilian sector, you may have access Edward Jones, Member SIPC Edward Jones Sean P. Asiala AAMS Edward Jones Michael C. Caley AAMS Edward Jones Pam Covington CFP AAMS Edward Jones Tod Heisler AAMS Edward Jones Jason Korner CFP Edward Jones Quinn Nofziger Edward Jones Gwen Ruppert Edward Jones Karen Rupert Financial Advisor Financial Advisor 7525 West Jetterson Bivd. Fort Wayne, IN 404 Financial Advisor Financial Advisor Financial Advisor 2030 Pointe tnverness Wey, Suite 125 Fort Wayne, IN 45804 432-3613 Making Sense of Investing Financial Advisor Financial Advisor Financial Advisor 7127 Homestead Rd. Suite C Fort Wayne. IN 14 karenuperttedwardjones.com 263-4760 991 Chestnut Hil Parkway Fort Wayne, IN 4G814 6525 Constitution Dr. Fort Weyne, IN 40804 7329 West Jeferson Bivd. Fort Wayne, IN 46804 14413 inois Rd SeE Fort Wayne. IN 46814 414 S Scon Rd. Fort Wiyne, IN 4a14 625-5700 Making Sense of Investing 432-0304 Making Sense of Investing 478-8038 Making Sense of Investing 444-3134 Making Sense of Investing 399-5853 Making Sense of Investing 625-3524 Making Sense of Investing Making Sense ef Investing Financial Focus Financial tips for new veterans to a 401(k) or similar employer-sponsored retirement In any case, if you have dependents, it's essential you plan, and you might be able to roll your TSP bal- On Veterans Day, we honor the men and wom- en who have served in our armed forces. If you've recently separated or retired from the military, or you ance into your new employer's plan. If you become will be leaving soon, you can be proud of the service self-employed or open your own business, you may you've provided to your country. But once you're a veteran, away from the structure and imperatives of the military, you may need to take greater control over managing your finances and protecting your family. For starters, consider housing. When you were on active duty, you may have moved around frequently and found it more convenient to rent, but you may now want to purchase a house. Assuming you meet the eligibility requirements, you could apply for a VA loan, which typically does not require a down payment and is usually offered at a favorable interest advantage of employer-sponsored health coverage. As rate. Make sure that you only take out a mortgage you can afford - you don't want to become "house poor." You'll also want to save and invest for retirement. don't lose life insurance coverage, even for a short time. Finally, be prepared for one negative aspect of becoming a veteran: fraud attempts. It's unfortunate, be able to choose from several retirement plans, including a SEP-IRA, a SIMPLE IRA or an "owner-on- but scam artists frequently target veterans. Scammers ly" 401(k). But no matter what plan you have, try to contribute enough to meet your income needs in retirement, which could last two or three decades. Furthermore, once you become a civilian, you may personal information, which can then be used for need to consider two topics that have special impor- identity theft. Or they might try to charge you for ac- tance to you and your family: health and life insur- ance. Regarding health insurance, you should be able them free from the Department of Veterans Affairs. to get coverage through TRICARE and/or the Veter- ans Administration, but you also may want to take may tell you that you qualify for "secret" government programs, but you must first pay a fee or provide cess to your service records, even though you can get As a general rule, be suspicious of anyone you don't know who seems overly eager to help veterans. Entering a new phase in your life can be ex- citing and rewarding - and you'll enjoy it even more when you get comfortable with your new financial for life insurance, you will lose the coverage offered by the military (Servicemembers' Group Life Insur- ance, or SGLI) shortly after you separate from active duty, so you'll want to consider your options for your SGLI, such as converting it to either Veterans Group Life Insurance or a civilian policy. Your new employer This article was written by Edward Jones for use by your may provide some form of insurance as an employee local Edward Jones Financial Advisor. benefit, but it might not be sufficient for your needs. arrangements. While on active duty, you could invest in the Thrift Savings Plan (TSP), but when you separate from ser- vice, you can no longer contribute to it. Now, if you get a job in the civilian sector, you may have access Edward Jones, Member SIPC Edward Jones Sean P. Asiala AAMS Edward Jones Michael C. Caley AAMS Edward Jones Pam Covington CFP AAMS Edward Jones Tod Heisler AAMS Edward Jones Jason Korner CFP Edward Jones Quinn Nofziger Edward Jones Gwen Ruppert Edward Jones Karen Rupert Financial Advisor Financial Advisor 7525 West Jetterson Bivd. Fort Wayne, IN 404 Financial Advisor Financial Advisor Financial Advisor 2030 Pointe tnverness Wey, Suite 125 Fort Wayne, IN 45804 432-3613 Making Sense of Investing Financial Advisor Financial Advisor Financial Advisor 7127 Homestead Rd. Suite C Fort Wayne. IN 14 karenuperttedwardjones.com 263-4760 991 Chestnut Hil Parkway Fort Wayne, IN 4G814 6525 Constitution Dr. Fort Weyne, IN 40804 7329 West Jeferson Bivd. Fort Wayne, IN 46804 14413 inois Rd SeE Fort Wayne. IN 46814 414 S Scon Rd. Fort Wiyne, IN 4a14 625-5700 Making Sense of Investing 432-0304 Making Sense of Investing 478-8038 Making Sense of Investing 444-3134 Making Sense of Investing 399-5853 Making Sense of Investing 625-3524 Making Sense of Investing Making Sense ef Investing