In many cases, financial advisers concentrate on building their clientele by targeting a demographic and then

miss one set of customers that have an inherent interest in their demography, which are military personnel
who retire or split from duty. The military personnel listed here frequently become the victim of fraudulent
lenders and marketers who throw them into debt and, in turn, damage their credit ratings. Even those who
manage their money effectively may sometimes be found unprepared for the financial change they encounter
when they move out of the military.

If you are leaving the military, regardless of whether you have a financial counsel or if you are attempting to
accomplish this on your own, do not allow yourself to get ensnared by the traps that await individuals who
return to the less structured world outside the services. When it comes to financial planning, there are some
aspects that are critical, and the advice in this article may help you secure a long-term financial future. Keep
reading to get some practical advice concerning veteran's financial planning.

essentially the only point to learn

Veterans who split from military duty are especially vulnerable to being targeted by fraudulent lenders and
salesmen.
Once a member of the military has served 20 years of active duty, the retired military classifications include
those who served less than 20 years, those who served 20 or more years, and those who are physically unable
to serve.
Financial planning is a major necessity for veterans who want to retire, save for retirement, and get private
medical insurance.
Three major types of veterans.
Although there are exceptions, the majority of service members who leave the military have three main
groupings that can be identified—short-term enlisted veterans who enrol for less than 20 years, career
veterans who join for more than 20 years, and former servicemembers who have a handicap.

Just graduated from the military

This category comprises of individuals who enrol for military duty early in their careers, but who fail to
accumulate sufficient pension benefits. In this group, enlisted personnel and commissioned officers fall within
the junior ranks. Many of them join the military after high school and are no longer in their late teens when
they leave the service for the first time as adults. Those individuals have had their active service period only
extend for a maximum of 20 years. A substantial number of service members are getting neither a proper
financial education while they were in the military nor any advice or services to assist them with basic financial
needs after they return home.

veterans of previous professions

People who are members of this group are people who spend the bulk of their adult lives in the military. This
group consists of mid- to senior-level non-commissioned officers and those who earn a higher rank. People
who have served 20 years in the military and who are now receiving military pensions may collectively describe
themselves as being in the "Gold Membership." Make sure you understand that rules are different between
the US Army, US Air Force, US Navy, and the US Marine Corps. 1

war veterans who have disabilities

People who have lost the capacity to serve in the military due to a handicap are eligible for a wide range of
financial assistance. Disability retirement is considered a third category for retirement plans. The receiving of
the disability rating relies on the number of years the service member has served and, for those with less than
20 years, their disability rating. 2 Also keep in mind that certain injured veterans may be allowed to leave the
military without receiving retirement benefits.

Support for young people transitioning from military service to civilian life
The individuals in this category have incurred considerable debt in the past, such as automobile loans, credit
card balances, emergency assistance money obtained through the Army Community Service Department, and
other consumer loans.
3
People who aren't familiar with their credit scores don't know the various points that will impact their credit
score when they begin looking for a job, and those who don't know their credit scores can therefore apply for
jobs that require a security clearance with minimal impact on their credit scores.
Notably, hardly many enlisted persons who join to reenlist end up saving anything beforehand, and they have
made no preparations for their long-term living expenditures when they finally do return to civilian life. All
active duty military personnel and their advisers belong to this group.