Financial Planning for Veterans: Navigating Benefits, Savings, and Investments 

United States culture, in the mainstream, regards veterans favorably. The choice to serve in the military is respected, and that turns into a pretty decent support network compared to other parts of the world. For all the complaints about Veterans Administration and other support institutions, the resources and assistance available to veterans are considerable. The trick to making use of them is knowing what’s due to you, as nobody will chase even a deserving serviceman with offers of assistance or opportunities. To make the most of the post-separation time, you’ve got to seize the day all by yourself—with the help of a few friendly organizations. 

Post-Service Career

In retirement from service, it’s tempting to catch up on the austere times by living large. However, living off-base often skyrockets expenses, so a little prudence is in order. The first step to a financially secure future is living within your means.  

The next is securing employment or starting a business. Small Business Administration offers Veteran-Owned Small Business (VOSB) and Service-Disabled Veteran-Owned Small Business (SDVOSB) certifications, which open doors to government contracts. Veterans Business Outreach Centers (VBOCs) provide training, mentorship, and support. Boots to Business, Bunker Labs, and VetFran offer free entrepreneurship training programs for servicemen, along with industry connections. 

Utilizing the VA 

More immediately, VA offers far more than the infamous hospitals. The VA online benefits portal contains service records, information on health care, education, disability, pensions, home and business loans, and allows online benefit claims. Groups like Disabled American Veterans, American Legion, and VFW offer certified guides who help veterans get their bearings at no charge.  

While many military specialties translate almost perfectly to the civilian job market, it’s worth exploring the extensive opportunities for further education in the form of college, certifications, vocational training, and housing allowances offered by the GI Bill. 

Thinking Ahead 

Bolster your finances with careful advance planning. It’s easy to focus on cash today, but contributions to the Thrift Savings Plan (tax-deductible) or Roth TSP (tax-free withdrawals in retirement) would help live comfortably later in life. Carefully used, a VA Home Loan helps build equity instead of renting. Work with a financial adviser; the modest money spent up front will allow avoiding common pitfalls that ensnare naive investors. 

Giving Back 

Should your finances allow, whether or not you are a service member yourself, consider donating to the variety of charities and assistance programs that focus on supporting veterans. Some of the reputable organizations are: 

• Fisher House Foundation – Supports families of hospitalized veterans. 

• Wounded Warrior Project – Offers mental health support and career counseling. 

• Gary Sinise Foundation – Builds homes and offers mobility support. 

• Homes for Our Troops – Custom homes for severely injured post-9/11 vets. 

• DAV (Disabled American Veterans) – Helps vets navigate benefits and get jobs. 

• Team Rubicon – Engages veterans in disaster response and service. 

Charity Navigator or GuideStar let you verify the details of each charity before contributing. You can also contribute your time, becoming a liaison or a volunteer assistant to other veterans. 

Written by: Oleg Volk, Firearms Photographer