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Finance

Military spouses will get reimbursed up to $1000 for professional relicensing costs | Military Times

A provision in the defense bill will now offer up to one grand to military spouses for relicensing costs when they have to move with their service member. The timeline for the reimbursement is close to being extended to two years. Other provisions also benefit those who own their own business and other job-related costs associated with moving. Previous programs ... Read More »

These 5 Factors Will Tell You How Much You Really Need to Retire | The Motley Fool

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An internet search for “how much money do I need or retire” will yield a result of $1 million to about $10 million dollars. Instead of depending on the vague internet-given possibilities, different factors can be used to determine how much you need. A general concept to follow is to live off 4% of your retirement savings each year. Also, ... Read More »

6 college savings tips for parents who are getting a late start | The Union Journal

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Sometimes other life expenses get in the way of being able to properly save for your child’s education. Saving a decent amount in a shorter period of time is difficult, but it can be done. One tip is to follow the one-third rule, meaning you should aim to save one third of the entire cost. Also, encourage your child to ... Read More »

Lawmakers kill off controversial plan to limit GI Bill benefits transfer to spouses, children | Military Times

A new defense bill moving to the Senate would put an end to the hotly debated GI Bill restrictions after being accepted by the House in a 377-48 vote. This would cancel out the recently imposed plans that prevent those with more than 16 years of post-9/11 service from transferring their paid-for GI Bill to their spouse or children. Many ... Read More »

Blended Retirement System deadline approaching | FtLeavenworthLamp.com

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New benefit plans for military retirement include DoD automatic contribution and bonuses that come when a career milestone is reached. The TSP and BRS are two major components of the combines plans. TSP is similar to a 401(k) that comes with varying fund options and plans. In the BRS, a service member’s EDR is used to determine eligibility. The plan ... Read More »

Certificate programs vs. bachelor’s degrees | U.S. News

While many people believe a bachelor’s degree is the only way to get on a path to a successful career, community colleges and certificate programs surprisingly have better outcomes, according to a recent report. They have the highest return on investment 10 years after enrollment, can lead to higher wages quicker, and require less student loans. While bachelor’s degrees have ... Read More »

7 ways to cut your tax bill before Dec. 31st | CNBC

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With the end of the year just around the corner, last minute tax savings plans can reduce what you will end up owing. Checking how much you are withholding can help you save money now and in the future. While the more you have withheld means the more you get back, you’re also giving the government an interest-free loan in ... Read More »

Thousands of Tricare patients billed 100 times more than premium in glitch | Military.com

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A Tricare online billing glitch has only gotten worse. Previously, Tricare members were unable to switch plans online, and those who had made changes earlier needed to call to see if their plans actually changed. In more recent news, it has been announced that more than 250,000 beneficiaries have been billed up to 100 times their monthly premium. The issue ... Read More »

Economists say a recession is coming: How can 401(k) investors prepare | Market Watch

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Seven out of ten economists expect a recession by the end of 2021, according to a survey by the National Association of Business Economics. Those with a 401(k) may feel the need to pull their funds or contribute less when whispers of a recession begin to fly. Everyone begins to wonder if they have saved enough, or if they invested ... Read More »

Six reasons renting can be smarter than buying | Forbes

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Different situations may be more conducive to renting a home rather than buying one. Home buying is a more recent fad that can have its perks, but has it has many disadvantages. One of the biggest incentives to renting is that the renter doesn’t pay for home repairs. The homeowner is responsible for paying and setting up repairs (unless there ... Read More »