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Big Changes Coming to the Military Retirement System

by guest blogger Kimberly Lankford, author of Kiplinger’s Financial Field Manual: A Personal Finance Guide for Military Families

The military retirement system is going to change in 2018. Service members may be able to participate in the new blended retirement system, which changes pension guarantees but also provides matching contributions to the Thrift Savings Plan.

Q. I hear there are going to be big changes to the military retirement system soon. How are the pension and retirement-savings options for service members changing, and do I need to make any decisions now?

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10 Best Financial Benefits for Military Families

by guest blogger Kimberly Lankford, author of Kiplinger’s Financial Field Manual: A Personal Finance Guide for Military Families

Members of the military have a lot of special financial challenges that most people don’t encounter. However, they have access to many special benefits, tax breaks and legal protections that can make a huge difference in their families' personal finances. Here are ten of the top financial benefits available to servicemembers and how to make the most of them to improve your family’s financial future. My husband was an Army doctor for 21 years and was deployed three times; many of these resources and benefits helped our family a lot over the years.

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Boomer, Gen-Xer or Millennial – Saving for Retirement is Up to You

When it comes to saving and investing for retirement many of us have our head in the sand. With financial demands in the here and now competing for our hard earned dollars we feel as if there is nothing to spare to save for a future that seems, and sometimes is, decades away. Our list of financial obligations is endless - education for ourselves or our children, a home, a car, medical expenses for ourselves or our parents. And what about the niceties of life? Retirement becomes the last item on our to-do list. Something to be dealt with someday. But someday is going to arrive sooner than we think, and we all need to be planning for our long-term financial security.

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