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MilLife Guides

MilLife Financial Goals

Overview

You have a vision of your future. You may want to own your own home, help your children pay for college, enjoy a financially secure retirement. When it comes to finances, it’s easy to get stuck in the now. But planning and saving early can help you reach your goals.

Owning a home

With the amount of moving you do, the first thing you might want to consider is the timing of purchasing a home. If you’re going to be relocating in a few years, are you prepared to be a landlord? Selling a home shortly after purchasing it doesn’t usually pay off.

Your credit score is another factor to consider. If it’s low, consider putting off a purchase until you can rebuild it. A low score could mean higher interest rates, increasing your monthly payment and the long-term cost of the home.

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Calculators

Use these calculators to help answer your biggest home finance questions.

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The VA Home Loan

The VA Home Loan is a substantial benefit available to service members, veterans and surviving spouses who are looking to purchase a home for personal occupancy.

Paying for education

As a military family, you have unique opportunities to help offset the cost of education for your kids – and yourself.

Career transition

Build a solid foundation before transitioning from the military to the civilian sector. Research replacements for your Servicemembers’ Group Life Insurance and TRICARE health care coverage.

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Free personal financial management counseling

Each branch of the military service offers a personal financial management program to help service members and their families successfully plan for their financial futures. A personal financial manager can discuss strategies for replacing insurance coverage when you transition from the military. If you don’t live near an installation, you can still receive free personal financial counseling through Military OneSource.

Military retirement

Retirement planning is a journey, and the outcome heavily depends on the choices you make along the way. Learn about your options and different retirement strategies so you can make informed choices that reflect your long-term goals.

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