- News, Events & Resources
- Saving with the New Blended Retirement System
The Fiscal Year 2016 National Defense Authorization Act provides our military force with a modernized retirement plan built for retirement savings. Beginning in 2018, our service members can get automatic and matching Thrift Savings Plan contributions as well as mid-career compensation incentives in addition to monthly annuities for life. All service members under the current system are grandfathered into today’s retirement system. Download Flyer
- Guard and Reserve Newsletter
The first quarter of the Guard and Reserve Newsletter is now available for download. The Guard and Reserve Support Network is a Department of Defense partnership of programs supporting the needs of the National Guard and Reserve community. View Newsletter
- My Training Hub: Financial Readiness Courses Fact Sheet
Financial fitness is right at your fingertips with new training for service members and their Families. My Training Hub is the Department of Defenseís new consolidated, online training platform. It brings learning to life in a convenient online setting that services the entire military community. This platform was created by professionals with the highest standards in training and technology, and responds to different learning preferences, tracks learners’ participation and evaluates training outcomes. Info
- Latest Issue of Double Eagle Magazine
- Apps for Download
Safe Helpline App for Sexual Assault Survivors in the Military (for iOS or Android) allows sexual assault survivors in the military to create a customized self-care plan and connect to resources from anywhere in the world.
Babies on the Homefront provides military and veteran parents ideas for enhancing everyday moments with their baby or toddler.
Battle Buddy gives you tools and information needed to assist in crisis situations.
- Request Your Soldier's Life Cycle Kit
Army Reserve Family Programs is here for you throughout the Soldier's Life Cycle. Putting Family first, then balancing between a civilian job and Army Reserve life is hard work. Let Army Reserve Family Programs (ARFP) help you make that balance easier. Get connected by requesting your Life Cycle Kit.
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Recently, Lt. Gen. Jeffrey W. Talley, Chief of the U.S. Army Reserve, joined financial expert & motivational speaker, Ms. Suze Orman for an in-depth discussion on the importance of financial readiness. During the on-camera discussion, Orman answered several questions provided by Soldiers and Family members through social media. Please share this important advice with your Soldiers, Civilians, and Family members to help build fiscal readiness and resilience.
Getting Ahead With Your Tax Refund
By Laura Roler, Military Saves Associate, AFC ® Candidate, FINRA Military Spouse Fellow
Are you looking for an easy way to get ahead this year? Most of us would love to pay off some bills, or replenish our bank account after the last unexpected expense, but even with a strong budget, it can sometimes be difficult to find enough extra money to make us feel like we are making progress. One of the easiest ways nearly 8 in 10 taxpayers can improve their financial situation is with their tax refund.
The average tax refund is nearly $3000. While not the large lottery jackpot most of us would like to collect, $3000 is a substantial "extra" outside of our paychecks. There are always more things to buy, and $3000 can buy a lot - but then it's gone. Using it for long-term goals rather than short-term splurges is what will enable you to get ahead and secure your future.
Save for emergencies. An emergency fund provides a buffer to costly surprises such as a major car repair, a leaky roof, or travel to visit an ill family member. It preserves your ability to pay your regular budgeted expenses, and to maintain and improve your credit. Most financial experts recommend saving at least three months of essential living expenses in an emergency fund. $3000 is a great start!
Save for retirement. Divert all or part of your refund to your IRA, 401K, or myRA and watch it grow. You can also purchase savings bonds with your refund, which will provide low-risk growth for up to thirty years.
Get out of debt. By paying off credit card or other debt, you may not be saving, but you are reducing the amount that you owe, and the amount on which you are charged interest. Once that bill is paid, you'll have that money to put toward your other financial goals - whether those are saving or spending.
Do you have other savings goals? How could $3000 help you save for a car or a house, your child's education , or another financial goal? If you are saving for multiple goals, let the IRS do the work of splitting and depositing your refund with Form 8888, Allocation of Refund. This allows you to direct deposit part of your refund in up to three different accounts and financial institutions. And if you need a little more incentive to save, visit SaveYourRefund to learn how saving at least $50 of your tax refund could win you $25,000.
Set a goal. Make a plan. Save automatically - with your tax refund!