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3 things I wish I knew about military transition

4 simple ways to start saving money
Staff Sgt. John Carlin walks off the flightline with his family May 13, 2001, at Little Rock Air Force Base, Ark. Sergeant Carlin is assigned to the 61st Airlift Squadron. | U.S. Air Force photo by Staff Sgt. Chris Willis


Before my husband retired from the Air Force, a co-worker asked if I was ready for his retirement. She, an ex MilSpouse, insisted that the transition to the civilian world was going to be hard.

I disagreed.

I told myself I had never fully immersed myself into the military way of life. After every PCS, I found a job in the civilian world and made friends outside the military gates. I did not feel the change was going to be that drastic or difficult.

Two years after my husband’s retirement I now know how right she was. These are the things I wish I knew then.

3 Things I Wish I Knew About Military Transition

1. Consider where you plan to live after retirement. When planning for retirement, I recommend that your family consider living near a military installation. You really don’t realize how important all the perks of living near a base are until you leave the military.

We all have heard of the safety net — this invisible shield that protects all military families from stressors, financial hardships, and provides support during deployments and emergencies. I never fully took advantage of this safety net, but I came to appreciate it when my husband retired.

We retired an hour from the nearest base and suddenly I missed the camaraderie that comes with living near one. I missed running to the commissary and knowing it wouldn’t break the bank. I missed the safety of living on a military base. I knew my family was surrounded by some of the bravest in the world.

Also, it is harder to participate in transition services and career counseling. I no longer live in a community that encourages military spouses during transition, especially in the job hunt. I had thought I would not miss all of these safety net services because I had sometimes opted out of them. I know now retiring close to a base would have made things so much easier.

2. Take time out for vacations and alone time. The stress involved in the transition from the military to civilian world actually surprised me. Not only is the camaraderie gone, but also the adventure that comes with being a military spouse.

Whenever things were too stressful, there was always some new place to travel to and explore. There was always the anticipation of the next assignment. MilSpouses, for the most part, are independent. Being in charge of everything while the military person is deployed cultivates independence. We don’t need help, right?

But do not hesitate to ask for assistance or even a few minutes of alone time. A week after the moving truck dropped 200 boxes off at my house, my sister had heart surgery and came to live with us. l should have asked for help then, from family or neighbors to open boxes or just watch the kids when I took a few minutes for myself.

Throw your independence to the side. If you need help with anything, during the transition, ask for it. You will be able to better deal with the difficulties that always come with the move. Take a break, or take a vacation. I have discovered that you and your spouse need to find out who you are without the military. The kinks in your relationship that were put aside due to deployments or a PCS, will now have to be dealt with.

Take time and breathe.

3. It is important to get involved in your community. The military community made it easy. During deployments, moving, and emergencies, someone was always there to assist. Sometimes it was just the person next door who was going through the same thing. Sometimes it was the squadron commander or base chaplain. Information on support groups, activities and financial assistance was always readily available. As a spouse it wasn’t hard to stay informed about events and activities.

It is important that you form these same kinds of bonds in your civilian community. It will be harder. No one will have your name on a list and ask you to the next squadron picnic.

I suggest you become involved in military charities or organizations. Find a church that all members of your family are comfortable with. Volunteer. Use social media to connect to the local community.

While you may be tired and stressed, make even the smallest of efforts to engage in your new community. It will make things so much easier during the adjustment. Create your own safety net.

Amy is the spouse of a recently retired service member who spent 23 years in the Air Force. She currently works as a full-time mom, freelance writer, and part-time baker. During the active duty years, she worked as a preschool teacher, librarian, bookseller and SEO specialist. She currently lives in North Carolina and enjoys traveling and volunteering in her new community.

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WW2 fighter pilot and founder of Enterprise Rent-A-Car dies at 94

4 simple ways to start saving money


Jack Taylor, the founder of Enterprise Rent-a-car who served as a fighter pilot during World War II, died last week at the age of 94 according to an announcement made by the company.

Taylor served as an F6F Hellcat pilot in the Pacific Theater during World War II, flying from the U.S.S. Essex and U.S.S. Enterprise (his company’s namesake). He was attached to Carrier Air Group 15, led by the top Navy ace of all time, Commander David McCampbell. CAG 15, which sustained more than 50 percent casualties during the war, was one of the most decorated combat units in the history of U.S. Naval Aviation. Taylor, who served as McCampbell’s wingman on several combat missions, was twice decorated with the Distinguished Flying Cross. He also received the Navy Air Medal.

4 simple ways to start saving money
Jack Taylor.

After the war, he worked as a sales rep for a Cadillac dealership before getting into the leasing business with a fleet of 7 cars. His breakthrough idea was renting cars at places other than airports for those who needed an extra car around the neighborhood for whatever reason. His company, Executive Leasing, eventually became Enterprise. The company is among the world’s biggest rental car brands, with annual revenues at nearly $20 billion.

Taylor also a philanthropist. Since 1982, he personally donated more than $860 million to a wide variety of organizations including Washington University and the symphony orchestra in his hometown of St. Louis.

Years later, Taylor reflected back on how well his military service had prepared him for his business success, saying, “After landing a Hellcat on the pitching deck of a carrier, or watching enemy tracer bullets stream past your canopy, somehow the risk of starting up my own company didn’t seem all that big a deal.”

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Filing for effect: some troops’ tax refunds may not come quickly

Many taxpayers plan their holiday shopping and other purchases around getting their tax refunds from the Internal Revenue Service at the earliest possible date.


4 simple ways to start saving money

In 2017, that may no longer be the case.

The Protecting Americans from Tax Hikes Act, signed into law in December 2015, requires the IRS to hold tax refunds for people claiming Earned Income Tax Credit and Additional Child Tax Credit until at least Feb. 15, 2017.

Also, new identity theft and refund fraud safeguards by both the IRS and individual states may mean some tax returns and refunds face additional review.

Beginning in 2017, the IRS must hold the entire refund — even the portion not associated with the EITC and ACTC. The IRS said the change helps ensure taxpayers get the refund they are owed by giving the agency more time to help detect and prevent fraud.

“This is an important change, as some of these taxpayers are used to getting an early refund,” said IRS Commissioner John Koskinen. “We want people to be aware of the change for their planning purposes during the holidays. We don’t want anyone caught by surprise if they get their refund a few weeks later than in previous years.”

As in past years, the IRS will begin accepting and processing tax returns once the filing season begins. All taxpayers should file as usual, and tax return preparers should submit returns as they normally do.

Although the IRS cannot issue refunds for some early filers until at least Feb. 15, it reminds taxpayers that most refunds will be issued within the normal timeframe: less than 21 days after being accepted for processing by the IRS.

The Where’s My Refund? tool on IRS.gov and the IRS2Go phone app remain the best way to check the status of a refund.

MIGHTY MONEY

They started at the bottom, now they are billionaire veterans

These are the guys who have lived the American dream. Five former enlisted warriors from various services who raised their right hand when it was time to serve, then got out and hustled to earn what they knew could be theirs.


These veterans went from E-1 to billionaire.

Related: 9 incredibly successful companies founded by military veterans

1. John Orin Edson, Army – Net worth: 1.6 Billion

Mr. Edson’s service began during the Korean War when he enlisted in the Army, where he spent three years in the signal corps.

Once out, Edson began selling his own racing boats from a parking lot in Seattle, Washington. He eventually bought the rights to Bayliner Marine for a reported $100.00 and developed the company. Edson sold it to Brunswick for $425 million.

He joined the billionaire’s club through sound investing and now reportedly spends his days flying helicopters and cruising yachts.

4 simple ways to start saving money
Stays calm and makes billions (Image from Forbes)

2. Daniel Abraham, Army – Net worth: 1.8 Billion

When Abraham finished his service with the infantry in 1947 Europe, he returned stateside where he bought the Thompson Medical Company. At the time, the company had revenue of $5,000.00 annually. Today, the company is still around and is doing quite well.

He joined the billionaire’s club through his interest in the weight-loss industry, which led to his development of Slim-Fast Foods. You may have heard of it.

4 simple ways to start saving money
Slim-Fast money! (Image from Gossipextra.com)

3. David Murdock, Army – Net worth: 4 Billion

Mr. Murdock dropped out of school in the 9th grade and was drafted into the Army during WWII. Once out, Murdock moved to Detroit and was homeless for a time, but he managed to get a $1,200 loan to buy a failing diner.

He flipped it for a small profit that he used to move to Arizona. There, Murdock began a career in real estate, acquiring many businesses, including the pineapple and banana producer Dole Food Company, which he developed into the giant it is today.

Murdock joined the billionaire’s club by selling his 98-percent share of the sixth largest Island of Hawaii. He believes in health and has vocal plans to live to see his 125th birthday.

4 simple ways to start saving money
(Image via Kim Brattain Media YouTube)

4. Charles Dolan, Air Force – Net worth: 5 Billion

Charles Dolan served in the Air Force before beginning his endeavors in telecommunications. Dolan got his start producing sports clips that he sold for syndication.

In the 60s, he established Teleguide, a platform that provided information services through cable television to hotels in New York. Dolan created the predecessor to what would become HBO.

He served as executive chairman of AMC Networks, which includes AMC, WETv, IFC, and the Sundance Channel, as well as the independent film business, IFC Entertainment.

Dolan serves as chairman to Cablevision now and, after stepping down as CEO, he bought the Red Sox… No big deal.

4 simple ways to start saving money
Go Sox! (Image from NetWorthHQ.com)

Also Read: 5 essential business values from a veteran-owned company

5. John Paul DeJoria, Navy – Net worth: 4 Billion

Born in Echo Park, California to immigrant parents, John Paul served two years in the Navy before getting out. He went from homeless to living in his car to Billionaire through pure hustle.

He went salon to salon, selling hair products wherever he could, developing his company Paul Mitchell Systems with partner Paul Mitchell.

His true rags-to-riches, American-dream story continues as DeJoria is still part of several businesses, including the Patron Spirits company.

He’s also a former member of the Hells Angels. How’s that for keeping it real?

4 simple ways to start saving money
Started at the bottom now he’s here! (Image from Forbes)

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This Marine just saved the government $15 million

The Marine Corps was paying $60,000 more than it was supposed to for a type of radio cable since 2007, according to Stars and Stripes.


The cable was discovered to be overpriced in October 2016, when Marine Cpl. Riki Clement had to fix a radio. After being told that the needed parts would take six to eight months to arrive, he decided to reverse engineer a replacement using old parts and found out its true cost was actually closer to $4,000.

Later that month, the Marine Corps said the corporal had saved the government $15 million.

4 simple ways to start saving money
The cable that the Marine Corps was overpaying by $60,000. (U.S. Marine Corps photo)

The defense contractor that makes the cable, Astronics, had been charging $64,000 for each cable. Astronics did not immediately respond to request for comment.

“There may be a good reason for the price, but based on us taking apart the cable and researching the individual parts, we’ve found no reason for this part to cost as much as it does,” Clement told Stars and Stripes in December 2016.
The overpriced cable was one of six in the same parts catalog, Barb Hamby of Marine Corps Systems Command told Stripes.

“The catalogued mistakes were made nearly seven years ago,” Tony Reinhardt, the command’s team lead for automatic test systems, told Stripes. “We went through every [item] in the kit to confirm the prices and fix the errors.”

Reinhardt said the cable costs $4,000 because of the material that goes into it, as well as the process of designing, developing and manufacturing it. He added that there’s no record of the Marine Corps ever purchasing individual replacement cables. The originals were part of kits, and Marines had been using parts from other kits for repairs.

The cost of each kit was $21,466, Capt. Frank Allan, a project officer at Marine Corps Logistics Command, told Stripes.

This isn’t the first time the military has been caught overspending.

In December 2016, it was discovered that the Pentagon had buried a study from late 2015 exposing $125 billion in administrative waste. President Donald Trump has also attacked defense contractors for overpriced weapons, despite recently calling for a $54 billion boost in defense spending.

MIGHTY MONEY

According to this Navy vet, physical and financial fitness are more similar than you think

This article is sponsored by Victory Capital.

Many principles of physical fitness are similar to those of financial fitness. They both require patience, discipline and consistency to be successful.

Fitness and lifestyle content creator and Navy veteran, Austen Alexander, recognizes the benefits and challenges of both. During his first years of service, Alexander accumulated debts that impacted his financial future as well as his mental and physical health.

By applying physical fitness principles to his financial well-being, Alexander was able to pay down debt and start a business. Today, he is also in the best shape of his life. The lessons Alexander learned along the way are an inspiration to others – both in and out of uniform. 

Growing up in Florence, Alabama, Alexander was interested in working out and staying physically strong. When he went into the Navy, the military kept him fit.

Mission-focused military life places a high priority on physical health. But for some, financial health may be an afterthought.

Although his family was frugal when he was growing up, Alexander says he went “a little haywire” while at his first duty station in Bahrain. He admits there was a void he was trying to fill being away from home, leading him to purchase things he couldn’t afford. 

As his physical fitness became more robust, Alexander’s financial fitness was quickly declining. During his brief periods of relaxation, he purchased a GoPro, a laptop and stayed in expensive hotels…all purchased on credit. The discipline he used in the gym didn’t translate to his finances.

“I was living the good life on money I didn’t really have,” Alexander said. (Image courtesy of Austen Alexander, Instagram)

In Navy boot camp, recruits have to pass a physical assessment twice to test their capabilities. There is no financial class to show them how to manage their money, how to open a savings account or when to begin investing.

At his low point, Alexander started to educate himself on financial fitness. He was resourceful and dove into books. He taught himself financial terms like Annual Percentage Rate and 401(k) – a retirement savings vehicle offered though civilian employers. He learned about different types of investments like mutual funds and IRAs.

He realized that credit card companies were charging him high APRs and the money he was paying was mostly covering interest (the cost of buying on credit). He learned that minimum payments reduce only a tiny portion of the principal (the actual money he borrowed). So, he decided to reduce his credit card debt.

Alexander transferred the balance of his highest card to a new card with a 15-month 0 percent APR. This allowed his payments to go directly toward the principal, not interest.

financial fitness allowed this couple to reduce debt
Austen and his girlfriend in front of their new home. Image courtesy of Austen Alexander, Instagram

In addition to this method of paying down his debt, Alexander created a six-tiered approach to paying off debt quickly:

  1. Make an Attack Plan

Create a monthly budget to track expenses and designate amounts spent in various categories. Budgets are organic and can change. Alexander suggests using three months of expenses to catalog what you or your family typically spends. Once an inventory of spending is taken, determine what money can be used to attack debt. If there isn’t enough to make a dent each month, consider where to cut back. Channel extra income to start paying back what you owe.

  1. Set Goals

Set financial goals that are practical, measurable and have a deadline. Macro goals like paying off debt, paying cash for consumables and buying a house are all long-term goals. Alexander suggests establishing micro goals as stepping stones to help reach macro goals. These might include paying off one credit card by Christmas or staying under your monthly grocery budget.

  1. Pay early

Credit card statements generally arrive weeks before payment is due. Alexander suggests automating monthly payments to arrive a day (or even a week) early. This practice may help reduce late payments, which incur additional fees and can negatively affect your credit score. Higher credit scores can help reduce the cost of borrowing and, over time, can lower lifetime debt.

  1. Create a Debt Snowball

Alexander recommends a snowball effect to reduce debt. The debt snowball is the total monthly principal and interest payment of all your credit cards. He suggests shifting all principal payments to the smallest balance first and making only minimum payments on the other cards. After eliminating the card with the smallest balance, add that payment to the next card’s monthly minimum. Continue the practice until you’re making that same huge monthly payment on just the one remaining card.

  1. Pay more

Making just the minimum payment is like firing a squirt gun on a burning building. It won’t be very effective to accomplish the bigger goal. Even if it is $40 more each statement, this actively pays down the principal instead of just the interest.

  1. Pay with a plan

Many resources, including free financial counseling, are available to military members. On base Family Support Centers have counselors that can help you create a debt snowball, establish investment accounts, or answer questions about the Thrift Savings Plan. Services that you would normally pay for in civilian life may be available for free while you’re in uniform. The finance officer at your deployment location may be another helpful resource.

The path to military financial readiness is paved with steps to show you how to make interest work for – not against – you.
Additionally, savings vehicles like the TSP, mutual funds, IRAs and 401(k)s are great ways to build wealth. For more financial tools and tips visit Victory Capital.

This article is sponsored by Victory Capital.

MIGHTY MONEY

Top 9 VA Loan benefits

So, you’ve been told that you should use your VA Loan for your home purchase, but the question is: Why? In this post, we’ll talk about some of the benefits and advantages of using your VA Loan for your home purchase.

Benefits of the VA Loan

1. No Down Payment

The VA Loan does not require a down payment for an eligible property purchase. While a 20% down payment on a conventional loan would be difficult for most service members, the VA Loan enables borrowers to put down 0% to buy a home. As of January 2020, there is no cap to a first-tier VA Loan-making it even better! Remember, though – there are still closing costs involved – even if there’s no down payment, so make sure to budget those in when considering a home purchase!

2. No PMI

While other types of mortgages usually require Private Mortgage Insurance for a lower down payment, the VA loan does not require it. This means less money out of pocket for borrowers and is yet another benefit of using your VA loan.

3. Lower Interest Rates

VA Loans are continuously competitive in their mortgage interest rates. By using a VA Loan, you’re almost guaranteed to receive a better rate than other types of loans.

4. Refinance Opportunities

VA Loan borrowers have two types of refinance options. The VA IRRRL can reduce your interest rate and possibly lower your monthly payment. Then, there’s the VA Cash-Out option that can give you the opportunity to pull cash out based on how much equity is in the property. By doing this, you can use the cash for purchases like renovations or repairs, car purchases, or whatever you need!

5. Advocacy

If you happen to be facing foreclosure, the VA has a loan program that provides foreclosure avoidance counseling and advocacy. These counseling programs help find possible alternatives to foreclosure to save you from a low credit score and heartache.

6. Lower Closing Costs

The VA limits closing cost amounts from lenders who offer VA loan lending. Unlike other types of mortgages, you won’t have to worry about outrageous closing costs where you have to bring a large amount of cash to the closing table. To add to the benefit, the VA also allows up to 4% of the buyer’s closing costs to be covered by the seller – saving you even more money.

7. VA Loan Assumability

Loan assumability is a big benefit to a VA Loan. Because the loan is assumable or transferred to a new borrower, a new eligible buyer could take advantage of a lower interest rate than what is currently offered in the mortgage market. Having the ability to advertise your VA Loan as “assumable” may even help sell your home when the time comes!

8. No Prepayment Penalty

If you are required to PCS, sell the home, or decide to pay off the mortgage, there’s good news! There is no prepayment penalty on a VA Loan. That is yet another reason why using a VA Loan could save you money in the long run. The last thing you need to worry about is paying MORE money when you need to pay off your mortgage!

9. VA Loans are Government-Guaranteed

Another advantage of a VA Loan is that it is backed by a government agency. What does this mean? It means that the federal government guarantees to pay back 25% of every VA Loan regardless of the reason for default. Because this provides participating lenders with a less risky situation, lenders can offer better term agreements to borrowers.

Need More Information?

If you’d like to know more about available VA Loan programs, ADPI has you covered! Our in-house lending team, AmNet is here to help you with the VA Loan process. To speak with one of our awesome loan officers, you can fill out our inquiry form here: https://www.activedutypassiveincome.com/real-estate-agents-and-lenders

This article originally appeared on Active Duty Passive Income. Follow them on Facebook.

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Pentagon to relieve debt of most Guardsmen

Defense Department officials told lawmakers Wednesday they hope to forgive about 90 percent of cases involving thousands of California National Guard members that auditors say received improper bonuses during the height of the wars in Iraq and Afghanistan.


“It is my hope that by the end of the year, we will have something between 1,000 and 2,000 cases total out of the universe of 17,000 that are subject to review,” Peter Levine, undersecretary of Defense for Personnel and Readiness, told members of the House Armed Services Committee.

Also read: National Guard chief says ‘tie goes to the soldier’ in California re-enlistment bonus scandal

Levine was among Pentagon and Army National Guard officials who testified at the Dec. 7 hearing to tell lawmakers how the Pentagon plans to resolve what some are calling a betrayal of the troops by next summer and prevent similar incidents from occurring in the future.

4 simple ways to start saving money
Maj. Gen. William H. Wade, the adjutant general for the California National Guard administers the oath of enlistment to Soldiers of Bravo Battery, 1st Battalion, 143rd Field Artillery during a recent visit Victory Base Complex, Iraq in 2007.

“Compensation, whether it is a bonus for a service agreement or regular pay, is an obligation to our service members and their families that they should not have to worry about,” said Rep. Joseph Heck, a Republican from Nevada and chairman of the panel’s Military Personnel Subcommittee.

“I find it unacceptable that we would place the additional burden of years of concern about the legitimacy of a bonus payment or a student loan repayment on those who volunteer to serve,” he added.

Lawmakers have come up with a compromise as part of the National Defense Authorization Act that calls on the Pentagon to forgive the enlistment bonuses and student loan benefits unless the soldier who received the money “knew or reasonably should have known” that he or she was ineligible for it.

The Los Angeles Times/Tribune Washington Bureau reported last month that the Pentagon was demanding repayment of enlistment bonuses given to California Guard soldiers to help fill enlistment quotas for the wars. Many of the soldiers served in combat, and some returned with severe injuries.

Many of soldiers were told to repay bonuses of $15,000 or more years after they had completed their military service. Student loan repayments, which were also given out improperly to soldiers with educational loans, sometimes totaled as much as $50,000.

“Many reasons these cases are particularly troublesome,” Levine said. “Many of them are based on a technical deficiency.

“Particularly in cases like this, where we have a service member who made a commitment on the basis of a bonus and served out that commitment, so when we come in later after someone has fulfilled their commitment and then question on a technical ground why they received a bonus in the first place — that is a particular hardship,” he said.

4 simple ways to start saving money
Soldiers of the California National Guard’s 40th Infantry Division rehearsing an air assault mission at Fort Hunter Liggett Feb. 8. | Photo by Sgt. 1st Class Benjamin Cossel

There are two basic categories of cases, Levine said. One type involves about 1,400 cases already ordered to pay back bonuses. The second category of 16,000 cases involves soldiers who were put under suspicion or threat of recoupment of bonuses they received.

“For those cases that are in recoupment, we have the question of, ‘Are we going to dismiss the case? Are we going to forgive the debt? Are we going to repay the soldier if we decide it was improper?’ ” Levine said.

Through detailed screenings, “It’s my hope we can get from about 1,400 down to about 700 … that’s a goal; I don’t know what exact numbers we can get to.”

As for the larger category of about 16,000 cases, “We have greater discretion because we haven’t yet established the debt yet,” Levine said.

Several “rules of thumb” will be established in an attempt to:

— Screen out cases that are more than 10 years old.

— Screen out cases with a debt of $10,000 or less.

— Screen out most of the cases that involve enlisted members and lower ranking members without prior service on the basis that it’s unlikely they would be able to understand their contract fully without assistance.

“As we go through those screens from that second universe of 16,000 or so cases, I expect to reduce that by about 90 percent, so we get down to about 10 percent,” Levine said. “We will then put that universe through the kinds of substantive screens, and I hope to get that down further.

“The objective is to find that easy ones first, get rid of those, tell people ‘we are not pursuing you … we are telling you, you are off the hook; we are done with you,’ so we can focus our resources on the cases that are the most significant.”

Many lawmakers said they felt the California Guard scandal severely damaged the trust of current Guard members across the country.

“In some of these cases, there have been troops — through no fault of their own — that are suffering the consequences,” said Rep. Paul Cook, a Republican from California. “It’s our fault, and I use that word collectively on behalf of all officers that are in positions of authority. We betrayed the trust of the troops, and there is no excuse for that.”

Rep. Susan Davis, a Democrat from the state, said it’s “critically important that we do not forget service members and their families that have been deeply affected by this.”

“Once these families have encountered financial hardships, we know it can be truly difficult to recover. Even if we return their bonus, we have already upended their lives by creating unnecessary emotional stress and financial instability.”

Army Master Sgt. Toni Jaffe, the California Guard’s incentive manager, pleaded guilty in 2011 to filing false claims of $15.2 million and was sentenced to 30 months in federal prison.

But National Guard officials told lawmakers that many others were held accountable, including leaders who failed to provide proper oversight, said Maj. Gen. David S. Baldwin, adjutant general for the California National Guard.

“We punished, within the California National Guard, 61 people — including firing four general officers and two full colonels,” Baldwin said.

The Department of Justice prosecuted 44 soldiers. Of those, 26 were found guilty and convicted, Baldwin said. Another 15 cases are pending, and the remainder were either dismissed or acquitted, Baldwin said.

Lt. Gen. Timothy Kadavy, director of the Army National Guard, told lawmakers that the National Guard Bureau has taken steps to prevent this from happening again.

In 2010, the bureau conducted a review of all incentive programs across all states territories and the District of Columbia and found “no systemic fraud,” Kadavy said.

In 2012, the National Guard stood up the Guard Incentive Management System, or GIMS, which now provides “a centralized oversight program for bonus and incentive payments,” he said.

In 2016, the Army Audit Agency conducted an “external review” of GIMS and validated its effectiveness, Kadavy said. Auditors found that the system “substantially improved the controls of eligibility monitoring and payment phases of the incentive process.”

Despite the steps being taken to resolve the problem, officials admitted that they should have known about this a lot sooner.

“We have oversight on the California National Guard, the Army has oversight, the National Guard Bureau has oversight,” Levine said. “We were not aware of this until we read it in the newspaper, and that is on us; we missed this.”

MIGHTY MONEY

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.


“Alimony is one of the very last pieces to fall into place,” says Lili Vasileff founder and President of Wealth Protection Management and of Divorce and Money Matters LLC and the author of Money Divorce: The Essential Roadmap To Mastering Financial Decisions. “Everything else happens and that’s the last piece of the puzzle that completes the whole picture and it’s usually the most complicated and complex because it’s interdependent on so many other things.”

It helps, adds Vasileff, to really go into this with realistic expectations because, by the time you’re negotiating alimony, you should have a very good idea of what all the other elements are as you close out this deal. Vasileff, who has decades of experience walking clients through alimony, offered these best practice tips for negotiating alimony.

1. Know your finances

One of the most important things, per Vasileff, to know when entering into alimony negotiations is what it actually costs for you to live — to understand what you can get by on, what you can’t live without, and what you’d love to have. By knowing that range, she says, you can negotiate from a better place of understanding in terms of what you might be accepting or even giving up.

Additionally, she says to have an idea of your own earning capacity. “Often I’m working with individuals who are perhaps out of the workforce permanently or temporarily or not fully employed and there’s a fear factor in not knowing what you’re able to attract in terms of your own capabilities,” she says. “And it’s really a great time to at least think about it and plan of how you need to be financially independent more or less at some point in your own life and what does that mean?”

2. Study the law

Take the time to learn all of the ins and outs of the laws in your state and how they apply to alimony payments. There are many different types of alimony out there and doing the research as to what you can realistically ask for in your state will not only help you build your case but also help you manage expectations. “If you’re expecting lifetime alimony and, let’s just say there’s a rule of thumb that it’s half the length of your marriage,” says Vasileff, “you could be in for a really bad surprise and be unable to negotiate without that kind of knowledge.”

3. Know your budget

You’re going to be paying retainers and attorney fees, so make sure that you actually have the resources available to make those payments on time. “Attorneys are not sympathetic and do not work for free often,” Vasileff says. Additionally, as you begin preparations for your divorce, make sure you figure out a budget. It’s an expensive process and going into it without a plan can set you up for a problem down the line. “Everybody plans for weddings or a bar mitzvah or a cruise,” Vasileff says. “Very few people budget for a divorce and you need to understand that there is a cost to divorce and it helps to think about it ahead of time so that you’re not taken by surprise and unprepared.”

4. Manage your expectations

While every state has uniform guidelines for child support, very few states have such guidelines when it comes to alimony. “It’s very discretionary,” Vasileff says. “It’s weighted by certain factors and the factors are enumerated in case law and in legal statutes. But how you apply those factors results in very different outcomes.”

An example from Vasileff: “Let’s be happy and say we have million and we’re going to divide million between the two of us. I could probably live off of the interest on million, which then kind of impacts what kind of alimony I receive because it’s taken into consideration. However, if we have 0,000 in debt, no savings and we’re paycheck people, alimony becomes even more critical as an element in this calculation. It’s case specific.”

5. Plan for contingencies

“If you’re dependent for the moment on your other spouse supporting you, you need to make sure that you’ve planned for contingencies, that you have an emergency fund in case something happens and you don’t receive support for that month or six months or if he or she falls off the face of the earth,” says Vasileff. You also want to make sure that their obligations to you are secured in case they die or something unforeseen happens. Vasileff stresses that it’s important to protect yourself against any unwanted surprises.

6. Think twice before waiving alimony

In some divorce cases, one party may choose to waive alimony, figuring that they’re earning enough on their own that they don’t need anything from their ex to get by. However, Vasileff suggests that keeping the door open slightly, even with a small amount like a dollar year, allows for renegotiation if something catastrophic happens. “If you have waived alimony, it is waived forever,” she notes. “The door has closed and you can never go back for support under any circumstances. So waiving alimony is a huge deal. There are reasons to waive alimony, but for the average person who’s on a paycheck, I would think twice about it.”

7. Don’t agree to anything out of court

Once the alimony is finalized in a judgment, one party cannot change it unilaterally and decide that, for example, they’re now only going to pay once every other month. A decision like that can only be made by going back to court. However, some couples might come to some kind of a handshake agreement and allow one partner to skip a payment here and there. This is something Vasileff advises against because of the slippery slope it leads to. “What if it becomes routine behavior?” she asks. “‘This month I don’t want to pay you but I’ll pay you in three months as a catchup.’ And then in three months they go on a vacation while you’re waiting for your check. Once you start to slip and allow that and enable it, it’s much harder to enforce.”

8. Keep emotion out of it

The notion of taking someone for “everything they’ve got” in court has become a cliche in divorce-related conversations, but the truth is, you don’t want to approach an alimony negotiation with anything like malice or greed, as it’s only going to fuel more negatively. “You’re telling me you’re going to go after everything I have and go for my jugular. What do you think I’m going to do?” Vasileff says. “I’m going to strike back. You need to come back to, ‘How does this transaction get executed and what’s in my best interests to make that happen?'”

9. Do your homework

Even if you think you’ve read everything there is read about alimony, read more, and then read it again. The better prepared you are, the less likely you are to be tripped up by something unexpected. “Preparation is the best defense you can possibly have. Because managing expectations will save you money, it’s going to save you in legal costs, therapy costs, everything. And it sets the tone for you to understand that it’s a process. It’s not a sprint. It’s going to be a marathon. And you’re going to have to last and preserve your energy at different points in time.”

This article originally appeared on Fatherly. Follow @FatherlyHQ on Twitter.

Articles

Military spouse helps pass legislation to benefit military retirees in Arkansas

When Brittany Boccher was approached by retired Major General Kendall Penn and the Arkansas Secretary of State Military and Veterans Liaison Kevin Steele to help get proposed legislation passed to protect the retirement pay of military retirees, Boccher jumped at the opportunity to serve her current community.


Boccher, a mother of two and the spouse of a special agent with the Air Force Office of Special Investigations, began the task by hosting the General and the Military and Veteran’s Liaison at one of the Little Rock Spouses’ Club meetings, where the men presented the proposed legislation to the local military spouses.

4 simple ways to start saving money
Brittany Boccher was invited to attend the signing of legislation into state law on Feb. 7, 2017. The law exempts military retiree pay from state taxes. (Photo courtesy of Brittany Boccher.)

The proposal specifically addressed the taxation of pay for military retirees. While active duty personnel in Arkansas do not pay a state tax, retired veterans’ pay is taxed.

That tax didn’t sit well with Governor Asa Hutchinson and Lieutenant Governor Tim Griffin, who have seen their state ranked at 48 in attracting and retaining working age military retirees and veterans.

“A lot of them will retire really young in their 40s, 50s, 60s. And what do they do? They have that steady income and start other businesses or they go work a new job,” Griffin said.

Hutchinson agreed, saying, “I believe it will help us to bring more military retirees here, welcome them back to Arkansas.”

Boccher committed to calling or emailing every state senate committee member directly to discuss his or her support for Hutchinson’s proposed tax initiative. Then she set out to round up military families that would benefit the most from the initiative in order to testify before the state house and senate committees.

Boccher, a business owner in Arkansas herself, told We Are the Mighty that her family reflected the target audience the state was hoping to attract with the proposed tax break.

“They were seeking a young family close to retirement to showcase that they would have a second career after the military. We are a 17 year military family, we’re young, and with two small children. We want to stay in Arkansas and we own a business in Arkansas.”

Boccher said her family “checked all the boxes” for what Steele and Penn wanted to present as the ideal family the state was trying to attract.

Penn asked Boccher to testify before the state house and senate committees.

As a result of her hard work and commitment to the legislation, Boccher and her family were invited to the bill signing ceremony earlier this month.

On February 7, Hutchinson released a statement that read, in part, “…beginning in January [Arkansas] will also exempt military retirement pay. This initiative will make Arkansas a more military friendly retirement destination and will encourage veterans to start their second careers or open a business right here in the Natural State.”

For her part, Boccher is proud of what she’s accomplished for veterans while simultaneously running an apparel company, a photography company, and a non-profit organization, the Down Syndrome Advancement Coalition.

Additionally, Boccher is the president of the Little Rock Air Force Base Spouses’ Club and the 2016 and 2017 Little Rock Air Force Base Spouse of the Year.

Boccher had this to say about her work, “The military community is resilient, adaptable, dedicated, independent, supportive, and resourceful, but most of all they can make a difference, their voice can be heard, and they can and will make change happen!”

MIGHTY MONEY

Army reports lack of training as biggest setback to readiness

Earlier this month, the Army’s top general in charge of supplying units with troops blamed a lack of readiness on limited time for training, adding that lack of funding isn’t the biggest challenge.


Head of Army Forces Command Gen. Robert Abrams said the lack of training stems from lawmakers making policy that commits the service to engagements around the world without an eye toward keeping the force healthy and trained up.

4 simple ways to start saving money
U.S. Soldiers of Rider Company, 2nd Battalion, 7th Infantry Regiment, 1st Armored Brigade record information while conducting a brief during exercise Combined Resolve VII at the U.S. Army’s Joint Multinational Readiness Center in Hohenfels Germany, Sept. 11, 2016. The exercise is designed to train the Army’s regionally allocated forces to the U.S. European Command. Combined Resolve VII includes more than 3,500 participants from 16 NATO and European partner nations. (U.S. Army photo by Pfc. Caleb Foreman)

Abrams explained that soldiers were expected to deploy more and have less time home because of downsizing.

“Our goal has always been … one month gone, two months back,” Abrams said, adding that the Army is currently experiencing a ratio of “deploy-to-dwell” that trends closer to one month gone, one month back.

“Our commitments worldwide across the globe in support of our combatant commanders remains at a very high level while we continue to simultaneously downsize the total force,” Abrams told an audience at the annual Association of the U.S. Army conference in Washington.

“Our number one constraint for training is time available.”

Recent budget cuts have forced the Army to reduce its total active duty soldiers to 450,000 while still meeting its obligations worldwide. As a result, the operational tempo for soldiers is higher and more demanding — ultimately requiring soldiers to train more, for longer periods of time, in addition to more and longer deployments, Army officials say.

“The impact of non-standard missions continues to have a degrading effect across our force in being able to sustain proficiency in combined arms maneuver,” Abrams said.

Because soldiers are experiencing a minimal deploy-to-dwell time, there isn’t enough time for soldiers to maintain the training the Army requires.

“We struggle today to maintain and meet Department of the Army standards in our critical combat fleets,” Abrams explained before highlighting unmet requirements within the Army’s aviation and ground fleets. He was quick to explain that in aviation in particular, the problems do not lie with the aviators. The problem stems, instead, with plans to restructure the way the Army finances those fleets, impacting training requirements, upkeep on aircraft, and overall readiness of aviators.

While Abrams was very careful not to blame funding shortfalls for the readiness issues facing the Army, he did not hesitate to blame the readiness of the National Guard in particular on lack of money.

“We’ve dug ourselves this hole because of funding,” Abrams said.

Despite the tough times, Abrams said the Army has made tremendous strides in the last year in terms of readiness and overall capabilities.

“Last year at this exact forum, one of underlying themes was that as an army in terms of our joint war-fighting capabilities, we were pretty rusty,” he said. “I’m happy to report today that we have made progress in our ability.”

MIGHTY MONEY

6 ways veterans and service members can get their taxes done for free

It’s time for taxes! Whether you are a single service member living in the barracks, a retired four star spending your days fishing in Hawaii, or a veteran with a family working your way through college, taxes have to be done.


I used to have this elementary school teacher, Mrs. West.

I remember Mrs. West standing in front of our class and telling us with extreme seriousness that only two things in America were guaranteed: eventual death and taxes.

4 simple ways to start saving money
U.S. Air Force Senior Airman Holden Smith, 633rd Air Base Wing Judge Advocate paralegal, assists Senior Airman Terrence Eaton, logistics readiness squadron vehicle maintenance journeymen, in filling out a form at the Langley Air Force Base, Va., tax center Feb. 5, 2013. Joint Base Langley-Eustis tax centers are set to open Feb. 2 for the 2015 income tax season. (U.S. Air Force photo illustration by Senior Airman Aubrey White/ Released)

I remember that half of my class got super interested in science in hopes of figuring out how to one day live forever, and the rest of us just kind of groaned and decided that our parents were going to do our taxes forever if the other kids figured out that whole science thing.

And so far those damn science kids still haven’t come through for us, and we still have to pay taxes.

Adulting is hard AF, amiright?

Don’t have a heart attack yet, because there is hope — not for science, they still haven’t come through — but for taxes.

There are a lot of ways and places to get your taxes done for free or almost free, and this is really great because math and I got a divorce in my freshmen year of college and we haven’t spoken since.

4 simple ways to start saving money
Army Spc. Coltin Jenkins, tax preparer, works with customers of the Joint Base Myer-Henderson Hall Consolidated Tax center in Building 205 on the Fort Myer portion of the joint base March 17, 2015. (Joint Base Myer-Henderson Hall PAO photo by Rachel Larue)

1. Volunteer Income Tax Assistance

VITA, is sponsored by the IRS. Most larger military installations have a VITA office on base during tax season. VITA isn’t military specific, but they generally help tax payers who make less than $54,000. Check out VITA, what you need to take with you on a visit, and where their offices are.

2. Military OneSource

This outfit prepares and files taxes for free for active duty service members, National Guard and Reserve, and their spouses; retirees who were honorably discharged and are within 180 days past their discharge date, eligible survivors of active duty, National Guard and Reserve deceased service members, and family members who are in charge of the affairs of eligible service members are also eligible.

3. IRS Free File

Get this, the IRS lets you do your own taxes. For free. Sweet deal? Or worst nightmare. You decide. Either way, the IRS will allow you to download software to do your taxes for free if you make below $64,000, and they’ll give you a free form if you make above $64,000. I guess the folks sitting right on $64,000 are just SOL.

4. TurboTax

Uber popular TurboTax has a sweet deal right now. You can download their 1040EZ or 1040A for free, and the rest of their products are fairly well discounted. E1 – E5 can get the Deluxe Edition from TurboTax for free (normally $54.99), and E6 and above get a discount on all products. The best thing about TurboTax is if for any reason the IRS comes back and says “You done effed up,” TurboTax will pay you for the IRS penalties.

5. TaxSlayer.com

This service has a great military discount. Currently, its website advertises 50 percent off classic or premium editions. They have free email and phone support, and boast about being 100 percent accurate. They do not, however, guarantee no penalties from the IRS if there is a mistake.

6. H&R Block

These guys have a cool thing for filing online for anywhere from free to $38.49. The program is called H&R Block More Zero (because “Taxes are Lame” and “You Think These Taxes are About You” was apparently taken). H&R Block does offer peace of mind. For a fee. And it really is called “Peace of Mind.”

Here’s how it works: You get your taxes done. You pay an additional fee, and they promise that if you’re audited, they’ll send one of their lawyers to court with you and pay up to $6,000 in fees if they lose. If you don’t pay the extra… no peace of mind for you.

Also, they don’t offer any kind of discount for military.

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