How to build real wealth with a military paycheck

With time and willpower, a few small sums can really add up.

Everyone talks about how active duty troops don't get paid a lot — and that's a good point, considering the hours and the kind of work involved. But with a few smart decisions, our active duty service men and women can be prepared for their post-military future by the time their first enlistment is over.

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Veterans

Why these female veterans will never struggle for work again

Female vets find their passion and learn how to make it a profitable business.

Female post-9/11 veterans are the fastest growing demographic within the veteran population, but they're also the greatest risk of experiencing homelessness after their service ends. Just like their male counterparts, they experience all the financial trappings that come with leaving the military. As of this writing, the national unemployment rate stands at 3.9 percent and is falling. But for female post-9/11 vets, unemployment is a solid 5.5 percent.

That's why the Institute for Veterans and Military Families at Syracuse University decided to change all of that — by showing women veterans how to start their own businesses and never have to look for a job again.

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This is why cash bonuses are different for each troop

You've probably seen it plastered all over billboards by now. The Army is offering "up to $40k in an enlistment bonuses!" Some hopeful recruits will learn that they can, in fact, get that down-payment for a Corvette. Another guy could come in that same day and walk out with just the "honor of serving."

What's the difference here? Why does one guy get a 'vette and the other nothing but a hardy handshake? The determination process is kind of convoluted, but it all comes down to the military trying to get the right people in the right places.

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BENEFITS & FINANCE
Jim Absher

The feds crack down on fake veteran charities

You may have seen them standing outside convenience stores, those guys dressed in camo that vaguely resembles a uniform. They have signs saying claiming they are charities that help veterans. Are they legit?

Well, not all of them are.

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An easy 9-step car buying guide for the military spouse

It's happened to the best of us. The second our service member boards that plane to deploy, Murphy decides to insert himself into our world.

It's almost a given: someone gets sick, one of your spouse's bills doesn't get paid, or something inevitably breaks down…and often it's our mode of transportation that ends up busting out on us.

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Now you can directly invest in hiring veterans – here's how

When the opening bell at the New York Stock Exchange rang out on Monday, July 23, 2018, it was Chris Isola, head of Veterans Affairs at UBS, ringing the bell. You may not know who Chris is, but you will be interested in what he's bringing to the New York Stock Exchange: Veterans – and in a big way.

Isola represent UBS, an investment bank like many others on Wall Street, providing financial advice and other products to wealthy institutions, individuals, and corporate clients all over the world. The bank has indexed the price movements of certain companies' stock — companies with policies, practices, and outcomes that support the employment of American veterans.

From that index, you can now buy into an Exchange Traded Fund that supports the best companies that meet UBS' liquidity and stability standards while being the best example of military veteran employers. It's all based on Viqtory's Military Friendly employer rating.

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BENEFITS & FINANCE
Jeremy Brown

9 expert tips for negotiating an alimony settlement

Second only to child custody, alimony is one of the most contentious and difficult-to-navigate processes in any divorce. When two people are splitting up, particularly when that split is acrimonious, the last thing either of them wants to discuss is the prospect of giving money to each other.

But, the topic has to be dealt with and the only way to do it successfully is to go in armed with as much knowledge as possible.

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Everything you need for a secure financial future and when to start

Because no one ever tells you exactly how much to save and when.

The world would be a perfect place if everyone grew up with a financial advisor, someone who told them exactly what to do with their money and when. While the best rule of thumb is to start investing early and often, the benefits of compound interest just aren't as interesting as spending your allowance on candy and Wiffle ball gear.

It's also not nearly as satisfying.

The rule that you should get started early still stands but it's not necessary to get started quite that young. However, if being bullish on Wall Street is more appealing to you than playing ball in the street, go for it — your future, financial self will thank you.

Military members have experienced a lot of changes in the tried-and-true retirement and benefits packages we used to know. For new troops, guaranteed pensions by themselves are gone. This is true for some older members who decided to opt-in to the new system, too. And now, the military will match your contributions to your Thrift Savings Plan (a kind of military 401(k)). There are other variations in the blended retirement system that troops need to know, too.

Some will still wonder if they're doing enough to save for retirement. This is a completely understandable feeling as a trade war with China grows and the stock market becomes more and more present in daily news cycles. After all, infantry troops and aircraft mechanics are not traditionally well-versed in financial products.

"No, Sergeant First Class, a money market account is not a retirement investment. Let's head back to base and look over your portfolio."

If you don't know if you're doing all you can to promote a healthy financial future, you should turn to the financial advisors available on base or seek help elsewhere. But for starters, here are few general guidelines to let you know if you're on the right track.

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BENEFITS & FINANCE
Steve Calechman

The pros and cons of a separate bank account from your spouse

Mina and Jason Burbridge have been married for two years. She's 47. He's 48, and they've always maintained separate bank accounts. It gives the Boston couple some freedom to act unilaterally. As Mina says, "If he wants to buy something that's dumb, he can do it. And so can I."

They also set up a joint account early on in order to pay for big household expenses, although another motivation came right before their October 2015 wedding. Mina's account was hacked into and had to be frozen for two weeks as the situation was rectified. The incident made them realize the benefit of two things: spreading their money around and having some always be mutually accessible, she says.

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