Filed Under:Markets, Employee Benefits

Veterans Day retirement tips

Main Street

Veterans present special retirement planning issues that advisors need to address. (AP Photo/Charles Riedel)
Veterans present special retirement planning issues that advisors need to address. (AP Photo/Charles Riedel)

NEW YORK — Retirement planning for the 22 million military veterans and 1.4 million active service members has its own nuances.

Veterans and active service members have different benefits, lifetime earnings patterns and other issues to consider compared with civilians.

Many veterans enter second careers after their military one ends. Vets need to manage both their military pensions and maximize their retirement savings through an employer-sponsored retirement plan or IRA, said Larry Rosenthal, an independent financial advisor with ING Financial Services based in Washington, D.C.

Veterans should seek advice from a financial advisor to help manage their increased cash flow, establish a plan to pay for their children’s college education or retire any existing debt, he said.

“Upon exiting the military, they have to learn to maximize their new benefits,” he said. “They often have the mentality of the military taking care of their needs. Now they have to figure out things for themselves. It is a whole new world to them. They usually adjust very quickly.”

For complete article, click here.

See also:

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting

Provided by LIFEHEALTHPRO

Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.