WASHINGTON (PRWEB) February 12, 2020 -- Members of the military face financial challenges most people don’t experience. But they also have access to valuable benefits and investing options not available to the general public, including special tax breaks, low-cost investments, legal protections, educational opportunities, insurance programs and other resources. Learning how to make the most of these opportunities can help servicemembers secure their family’s financial future.
And this is an important time for military families to review their finances. The military retirement system changed significantly for many servicemembers in 2018, and this guide shows them how to make the most of the new rules. They’ll also learn about new retirement-savings opportunities and withdrawal options, changes to the rules for transferring GI bill benefits to children, and updated resources for 2020.
Current and former members of the U.S. military can learn how to make the most of these financial benefits — and how to protect themselves from new scams that target military families — in the newest edition of Kiplinger’s Financial Field Manual: A Personal Finance Guide For Military Families, which was made possible by the Investor Protection Trust (IPT) and the Investor Protection Institute (IPI) and a number of state securities agencies.
The newly updated Financial Field Manual is being released in anticipation of Military Saves Month during April 2020. The popular guide will be distributed free and is available online at: http://www.investorprotection.org/learn-about-investing/?fa=military.
The Financial Field Manual includes practical, easy-to-understand information and some new strategies to help military members and their families learn about financial opportunities and challenges.
The manual provides in-depth coverage of the following topics:
- Making the most of military retirement plans, including new rules for savings and withdrawals
- Understanding special military benefits and legal protections, including new rules for transferring GI benefits to children
- Protecting your family and your finances when preparing for deployment
- Special home-buying perks and resources to ease military moves
- Financial Fraud Watch: Protecting yourself from new scams that target servicemembers
- Planning a smooth return to civilian life when you leave the military
- Financial resources for military families
“The Financial Field Manual is a powerful weapon in the fight for financial security for the men and women who serve in the military,” said Mark Solheim, editor of Kiplinger’s Personal Finance. “We know they confront unique, often complex financial challenges, and this new edition will offer the guidance and information they need to take advantage of the valuable benefits and investing opportunities available to them.”
Don Blandin, president and CEO of Investor Protection Trust and the Investor Protection Institute, called attention to the Field Manual’s warnings about financial fraud.
“While members of the military have access to some very valuable benefits, they also find themselves singled out by unscrupulous swindlers who target and then prey on active and retired military personnel. Our step-by-step guide makes it very clear what military families should do…and what they should avoid.”
The Financial Field Manual is authored by long-time Kiplinger's Personal Finance columnist and contributing editor, Kim Lankford, who also has years of pertinent, first-hand experience as a military spouse. “As a military family for 21 years, we had access to special programs and benefits that financial publications rarely write about. I'm happy to share the strategies and resources that helped us make the most of these opportunities to build financial security, prepare for three deployments, and make the transition to civilian life.”
ABOUT THE GROUPS
The Investor Protection Trust is a nonprofit organization devoted to investor education. More than half of all Americans are now invested in the securities markets, making investor education and protection vitally important. Since 1993 the Investor Protection Trust has worked with the states and at the national level to provide the independent, objective investor education needed by all Americans to make informed investment decisions. The Investor Protection Trust strives to keep all Americans on the right money track. Become a fan of IPT on Facebook or investorprotection.org and follow IPT on Twitter and LinkedIn.
The Investor Protection Institute is an independent nonprofit organization that advances investor protection by conducting and supporting unbiased research and groundbreaking education programs. IPI carries out its mission through investor education, protection and research programs delivered at both the national and grassroots level in collaboration with state securities regulators and other strategic partners. IPI is dedicated to providing innovative investor-protection programs that will make a meaningful difference in the financial lives of Americans in all walks of life and at all levels of sophistication about financial matters. Become a fan of IPI on Facebook or iInvest.org and follow IPI on Twitter and YouTube.
For nine decades, the Kiplinger organization has led the way in personal finance and business forecasting. Founded in 1920 by W.M. Kiplinger, the company developed one of the nation's first successful newsletters in modern times. The Kiplinger Letter, launched in 1923, remains the longest continuously published newsletter in the United States. In 1947, Kiplinger created the nation's first personal finance magazine. Kiplinger.com is the fastest growing Web site in the personal finance space. Located in the heart of our nation's capital, the Kiplinger editors remain dedicated to delivering sound, unbiased advice for your family and your business in clear, concise language. Become a fan of Kiplinger on Facebook or Kiplinger.com and follow Kiplinger on Twitter, LinkedIn and Tumblr.
Dan Drummond, Commonwealth Public Affairs (202.243.8621) or [email protected]
Kim Lankford for Kiplinger (434.528.3014) or [email protected]
Don Blandin for IPT/IPI (202.775.2112) or [email protected]
Daniel Drummond, Kiplinger's Personal Finance, +1 (202) 243-8621, [email protected]
SOURCE Kiplinger's Personal Finance