SFP Retirement My Way Q+A, Veteran’s Benefits?

| April 12, 2021
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Daryl, from Oklahoma City, asks about Veteran’s benefits in retirement.

Are there additional benefits for veteran’s entering retirement?

  • There could be additional benefits available to veterans.
  • These benefits could be health care related or pension like.
  • Everyone’s situation is different so there are no blanket statements with respect to potential benefits.
  • There could be potential spousal benefits as well.

 

How can find out if I qualify for any potential veteran’s benefits?

  • There are resources available through the VA that can direct you to your well-earned benefits.
  • There are also nonprofits that specialize in providing services to veterans.
  • Many vets rely to their former Military friends and colleagues for guidance.

 

What advice does Ryan have Vets thinking about retirement?

  • You have served your country and deserved every penny that you could potentially receive.
  • Set up an appointment with the VA to see what you are entitled to, as soon as possible.
  • Talk to multiple agencies, nonprofits, and people to make sure that you are not missing anything.

 

On this edition of Summit financial Partner’s question and answer show, we get a question from Darrell, who is also a veteran, about what potential benefits he could receive in retirement due to his service to our country.

Ryan starts off by thanking Darrell for his service and thanking all men and women of this country who have served. We know that any liberties, freedoms, and rights that we enjoy are due the sacrifice and service that the men and women of the military have made over the history of this country.

As for potential benefits for veterans entering retirement, there could be many services available to you depending on your type of service, years of service and roll during your military career.

First off, Ryan would recommend that you check with the VA to see what you may or may not be entitled to. In addition to talking to the VA, there are other nonprofit organizations that serve veterans and can guide them on what they may be eligible to receive.

Now, these benefits will be different from person to person, but most of them will take the shape of healthcare benefits and/or financial or pension like benefits. The healthcare benefit could be a complete benefit that is of no cost whatsoever to the individual, or it could be a subsidy to a healthcare benefit or a supplement to a benefit.

There is pension and/or pension like benefits available to veterans depending on their years of service.

Furthermore, there are also educational benefits, home lending programs, and business lending programs as well.

Again, we strongly urge you to speak to a nonprofit that specializes in serving veterans or the VA to see what you are entitled to, and it might not just be that you are entitled to a benefit, your spouse could also be entitled as well.

Ryan is extremely passionate about giving back especially to veterans who have put their life on the line in protection of our freedoms, and strongly urges veterans to seek multiple consultations and speak to multiple organizations about what they could potentially receive.

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