MIGHTY MONEY
Devon L. Suits

Deadline to transfer GI Bill benefits coming this July

Soldiers with over 16 years of service who want to transfer their Post-9/11 GI Bill to a dependent must do so before July 12, 2019, or risk losing the ability to transfer education benefits.

Last year, the Department of Defense implemented a new Post-9/11 GI Bill Transfer of Education Benefits, or TEB, eligibility requirement, which instituted a "six- to 16-year cutoff rule," said Master Sgt. Gerardo T. Godinez, senior Army retention operations NCO with Army G-1.

Further, soldiers who want to transfer their education entitlement must have at least six years of service, he said. All soldiers must commit to an additional four years of service to transfer their GI Bill.

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MIGHTY MONEY
Tanza Loudenback

4 basic things you should be doing with your money

Millennials as a group may be delusional about the future, but some are making good decisions with their money today.

Generally, many millennials have little to no credit-card debt, put a portion of their income toward retirement, and have a savings account, an INSIDER and Morning Consult survey found.

Of the 4,400 Americans polled, 1,207 identified as millennials, defined as ages 22 to 37 (237 respondents did not select a generation). The margin of error was plus or minus 1 percentage point.

Here are a few of the ways millennials are smart with their money, according to responses to our survey:

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MIGHTY MONEY
Jim Absher

5 GI Bill rates that will increase this year

The Department of Veterans Affairs has announced the Post-9/11 GI Bill rates for the 2019-2020 school year. These rates will be effective on Aug. 1, 2019. The Montgomery GI Bill and Dependents' Education Assistance programs will see a rate change on Oct. 1, 2019.

By law, the GI Bill rate increase is tied to the average cost increase of undergraduate tuition in the U.S. For the 2019-2020 school year, that increase will average 3.4%.

More than 80 percent of those taking advantage of their GI Bill benefits are doing so through the Post-9/11 GI Bill.

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MIGHTY MONEY
Hillary Hoffower

These are the successful habits of 600 millionaires

Investing can be intimidating.

But those who do it right tend to share similar characteristics, according to Sarah Stanley Fallaw, the director of research for the Affluent Market Institute. She coauthored "The Next Millionaire Next Door: Enduring Strategies for Building Wealth," for which she surveyed more than 600 millionaires in America.

During her research, she found that five components mark successful investors, including those who are rich: a personality for risk, a high-risk preference, confidence in investing, composure, and knowledge regarding investments and investing.

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MIGHTY MONEY
Sgt. 1st Class Jon Soucy

Guard to see changes in GI Bill transfer benefits

Provisions allowing Guard members to transfer some or all of their Post- 9/11 GI Bill benefits to their spouse or children are set to change, limiting the timeframe soldiers and airmen can transfer those benefits.

"You have to have a minimum of six years [in service] in order to be eligible to transfer benefits, and after 16 years you're no longer eligible," said Don Sutton, GI Bill program manager with the Army National Guard, describing the changes set to go into effect July 12, 2019.

The six-years-of-service rule isn't new, said Sutton.

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MIGHTY MONEY
David Slotnick

Apple just announced a game-changing new credit card

At an event on March 25, 2019, at its Cupertino, California, headquarters, Apple announced the next stage in the evolution of Apple Pay: a rumored Apple rewards credit card.

The card, issued by Goldman Sachs called "Apple Card," will offer cash rewards and various features and integrations with Apple's Wallet and Apple Pay apps.

The card will earn "Daily Cash," Apple's version of cash back. Daily Cash is issued to the user's Apple Pay Cash balance each day. From there, it can be spent on purchases using Apple Pay, applied as a credit toward the user's Apple Card balance, or transferred to contacts through Apple's peer payment feature in iMessage.

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MIGHTY MONEY
Joe Lacdan

Budget proposal prioritizes pay increase, quality of life, modernization

With soldiers increasingly being asked to shoulder heavier workloads, the Army hopes to compensate them for their efforts with a 3.1 percent pay raise.

The Army's $182.3 billion budget proposal for fiscal year 2020 includes the highest pay increase for soldiers in a decade. Additionally, the service plans to raise basic housing allowances by 3.2 percent and basic subsistence allowances by 2.4 percent.

After launching a new recruiting initiative this year, the Army is aiming for a modest end-strength target next year, hoping to have 480,000 active-duty soldiers, 336,000 National Guard members and 189,500 reservists by 2020.

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MIGHTY MONEY
David Slotnick

Pro-tip: Active Duty gets the AmEx Platinum for free

The Platinum Card from American Express has one of the highest annual fees of any consumer credit card — a staggering $550 each year, starting when your first billing statement hits. However, the card is easily worth that annual fee because you get more value than that back. For example, I got more than $2,000 of demonstrable value from the card my first year.

However, if you're an active duty US military member, AmEx will actually waive the annual fee. As reported by US Navy veteran Richard Kerr for The Points Guy, service members must request the benefit by calling the number on the back of the card — it isn't applied automatically. AmEx uses an automated program to confirm your service, and refunds the annual fee in the form of a statement credit.

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MIGHTY MONEY
Arjun Reddy

Designer of the F-15 & AH-64 is responsible for 30% rise in Dow this year

A single company, Boeing, has accounted for nearly 30% of the Dow Jones Industrial Average's year-to-date gain of 11.5%, according to Bespoke Investment Group.

Boeing shares have soared 34% this year, contributing 812 points of the index's 2,807-point gain so far this year. Without Boeing's contribution, the index would be up about 8% YTD.

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