Military families face unique challenges, such as deployment to conflict zones, overseas assignments, and the constancy of change, making managing personal finance critical.
A Debt.org, study from July 13, 2021 found that military personnel have more credit problems and are more likely to make a late house payment than their civilian counterparts.
Topics to discuss with your advisor as you prepare for the mission of creating a financial strategy:
Financial planning is different for government employees than for people employed in the private sector. These jobs often provide benefits that workers in the private sector might not have, requiring unique strategies.
Your benefits depend on your years of service, age, and plan contributions. So financial planning. especially retirement planning, for police, firefighters and municipal employees needs a layered design that that includes both employer sponsored programs (such as a Deferred Retirement Option Plan) and personal financial tools.
Many state and federal employees may have both a defined contribution plan and a pension. A comprehensive financial plan will define not only how retirement and non-retirement accounts are managed and invested, but also how to anticipate the amount of income that will be taxable in retirement and how any pension interacts with Social Security benefits.
An advisor who understands your plan can offer practical steps to take to prepare for life after service.
As an educator, your students are your priority. Whether you work in a public or private school, regional college, or university, you make an enduring impact.
Being an educator comes with challenges outside the classroom. Unless you teach personal finance, there’s a good chance you’re unfamiliar with financial planning. After all, you specialize in other subjects. No one can be an expert at everything!
That's why it can be beneficial to seek guidance from a financial professional to create a plan that addresses:
For teachers, there is no substitute for doing your homework and creating a personal financial lesson plan.
Each advisor has licensing, registrations, and products available to them. Do your research to find a professional that is best suited to serve you and your unique situation.
Copyright © 2022 Black Bull Capital Partners, LLC. - All Rights Reserved.
Check the background of your financial professional on FINRA's BrokerCheck.
Black Bull Capital Partners, LLC is not a broker dealer/RIA nor an affiliate of any such entity. The content on this site is developed from sources believed to be providing accurate information. The information in this material is not intended as investment, tax or legal advice. Please consult your trusted legal, tax, or financial professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security, insurance or investment product.
*Other entities referenced are not affiliates of Black Bull Capital Partners unless otherwise noted.