Are you ready to separate or retire from military service? The transition out of military service isn’t something to be taken lightly. Or put off until the last minute.
In this episode of MilMoney Movement podcast, Hank and Lacey talk with Mike Kelly from USAA about the challenges Service members and their spouses face when leaving the military. Mike also shares some of USAA’s initiatives to help milspouses with un and underemployment.
No matter how many years you have left in, there needs to be some type of planning before you leave the military. In this episode we discuss:
Challenges When Leaving The Military
Some of the challenges Service members face when separating are: long transition times, difficulty finding a job, not having the proper certifications, changes in finances and education challenges.
Separation preparation timeframe
You should allow at least 2 years to prepare for your separation from the military.
Loss of benefits
The loss of benefits can be a shock to your finances when leaving the military. Remembering to budget for increases in health care, life insurance, dental, housing and taxes can help your finances on track.
Relocation after service
Many Service members and their spouses do not intend to stay in the local area of their last duty station. If you’ve haven’t done proper planning it could mean staying in an area you don’t like.
Impact of military separation on milspouses
Separation from the military doesn’t just affect the Service member. Military spouses face many of the same challenges as the separating member.
Veteran and milspouse unemployment initiatives
Great improvements have been made to reduce veteran unemployment. Now the spotlight is shifting to help military spouses with un and underemployment.
This week for Game Time we play a new game, PCS Team-Up or Tag Out.
What’s on Lacey’s Mind
Today, Lacey has her mind on the new changes to how finances will be reviewed for security clearances.
- Licensing & credentialing for milspouses
- Topo Chico
- Michael Connelly Bosch & Mickey Haller Series
- USAA Service & Ink
Connect with Mike Kelly and USAA
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