MilLife Financial Goals

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.

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.

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

• Scholarships, grants, savings plans and more for military children. There are many resources to help military families finance their child’s education.
• Tuition assistance. As a member of the military, you have access to programs like tuition assistance and the GI Bill to help fund your educational goals.
• Military spouse-specific programs. Military spouses have access to loans and scholarships for education, as well.
• Student loan benefits for members of the armed forces. Learn about the benefits you have earned through your service and ways to manage your student loans. Once you have a plan in place, you can focus on saving for the next generation.
• Zero percent student loan interest relief. See if you qualify for assistance.

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.

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.