Financial Resources for Veterans and Military Families
Written by: Daniel Gleich
Veterans and their families may face unique financial challenges, from the strain of coping with deployments, relocations, and other times of transition to the difficulty of planning for retirement. However, many organizations, agencies, and programs have sprung up to support those who serve and their loved ones by offering financial assistance and other resources. If you are eligible for these benefits, you should not hesitate to use them.
Self-Directed IRAs to Supplement Veterans' Services
In addition to financial aid and other veterans’ resources, military veterans may also choose to open their own retirement accounts, such as a Self-Directed IRA. A Self-Directed IRA is a retirement account that allows an investor to put their money into alternative assets unavailable outside the stock market.
Veteran Benefit and Discounts
- Veterans Affairs Benefits: Learn about the variety of benefits you can get from the VA, from crisis support to health care to employment help to home loans.
- National Parks Passes: Veterans can get free lifetime passes good for admission to all of our national parks.
- Free Online Tax Help: Military members and qualifying veterans can file their tax returns for free and get help from tax professionals with MilTax.
- Shop at the Exchange Online: Being able to buy things at military prices and tax-free at the Exchange doesn't end when your service ends.
- Free Event Tickets: Get free admission to concerts, sporting events, and other types of performances and events through the Veteran Tickets Foundation.
Housing, Moving, and Relocation Assistance
Veteran Mental Health Resources
Scholarships for Veterans
Career and Employment Resources
Transition Assistance for Military Personnel
Support for Military Children and Families
- Five Ways the USO Supports Military Spouses: The USO is known for supporting military members on active duty, but this organization also offers support for their loved ones holding down the fort at home.
- Support for Military Spouses' Businesses: Starting a small business can be challenging for anyone, and supporting a member of the military can make it even more stressful. The Small Business Administration can help you get your business off the ground.
- Red Cross Assistance: Request financial help and find other forms of support from the American Red Cross.
- MilSpouse Money Mission: Find out everything you need to know about managing your household's finances and planning for the future on this site.
- Critical Financial Assistance: Operation Homefront offers this program to provide short-term help for military families in a financial bind.
- Blue Star Families: This organization is focused on supporting military families in a variety of ways, from helping them to connect to offering career assistance, outdoor activities, and free museum admission. They can also connect you with a wide variety of discount programs.
Supporting Military Families Through SDIRAs, Self-Directed Roth IRAs, and Alternative Investments
There are many options for military families to invest in their retirement. Self-Directed IRAs and Self-Directed Roth IRAs are only a couple of options that are available to help investors put their money into what matters to them most. Alternative assets could be a good way for veterans and their families to diversify their investment portfolios and save toward their retirement goals after years of military service.