Podcasts about sgli

Life insurance might be uncomfortable to talk about, but avoiding the conversation could leave your loved ones without support when they need it most. Whether you're on active duty or transitioning to civilian life, it's essential to understand the protections you have and the ones you don't. In this episode, Heather Walrath covers everything from traumatic injury benefits and accelerated death payouts to how to avoid losing life insurance coverage after separation or retirement. You'll learn what makes SGLI and FSGLI unique, when and how to update your beneficiaries, and why planning ahead is one of the most powerful things you can do for your family. Heather is an accredited financial educator who has enjoyed working with military members and families for the last 14 years while empowering them with financial education. She is a 2009 FINRA Military Spouse Fellow and holds a BA in economics from the University of Georgia and a paralegal certificate from the Denver Paralegal Institute.  She is also an accredited Veterans' Service representative. Heather has worked as a Personal Financial Counselor (PFC) with all branches of the military, including the Guard and Reserve components, as part of both the non-profit education sector and the Department of Defense PFC network.  Her passion is providing members with correct, unbiased information about the DoD Survivor Benefit Program and other survivor entitlement programs. https://milmo.co/podcast/what-you-might-be-missing-with-sgli-and-fsgli For more MILMO, follow at: MILMO.co ItsMILMO on YouTube @itsmilmo on X @itsmilmo Instagram @itsmilmo LinkedIn @itsmilmo Facebook

There will always be a new trend everyone is talking about. Money included. Go anywhere on social media, Instagram, or TikTok, and there is a money trend. All that noise can make it easy to get caught up in trying to keep up instead of being focused on what is core to your financial success. Instead of jumping on a bandwagon that can crash and burn, we should focus on the basics. Or, more importantly, getting brilliant at the basics so when a trend comes along, we'll have a firm foundation and know if that trend is going to help us build wealth and reach our goals.  That's why I'm doing a back-to-basics series on the MILMO Show. I'm going to do different shows on topics we should all have a basic understanding of, like budgeting, the SGLI, insurance, and more. I have no idea how many shows yet, but I'm going to kick it off with the Thrift Savings Plan and take it from there.  Right now, you're saving money for two people: yourself and your 80-year-old self. That means your money needs to be working double duty. Lucky for service members, there's a tool you can use to help your money work overtime. It's called the Thrift Savings Plan, better known as the TSP. In this episode, I'm breaking down the basics you should know about the Thrift Savings Plan, like making smart investment choices, managing it while you're in, and what to do with your TSP when you get out. Whether you're new to the military, just starting to give your TSP a little love, or just looking for a refresher, this episode's for you.  The show notes can be found here: https://milmo.co/podcast/thrift-savings-plan-basics/

On this episode of the Lesson Learned for Vets podcast, we welcome Todd Nelson. Although not a veteran himself, he has dedicated his career to helping service members navigate their finances as a financial advisor for Edward Jones. There are often unique financial challenges that accompany transitioning service members into their next career. Todd is the host of Transition 30, a network that uses quarterly Zoom calls to connect service members to resources and organizations that support the military transition process.Todd lays out 3 considerations every service member must make as they exit the military. 1) How much money do I need to replace? 2) How much money do I want and how much money do I need? 3) How am I going to get from what I need to what I want? Having mentors and talking to subject matter experts in taxation can become a valuable piece of establishing your financial foundation. The first consideration when thinking about SGLI to VGLI is knowing what your needs are when it comes to insurance. Speak to your spouse, significant other and family members before you start the VA disability process. During the VA process, everything is documented. If you start your insurance research after you have already started the VA process, there may be some exclusions to your policy because of the VA documentation. The second consideration is realizing that VGLI is there for a reason. Sometimes private life insurance companies won't cover you because of your service-related injuries. When it comes to the Survivor Benefit Plan (SBP), it's important to realize that it's a personal decision that should be based off several factors. Research the SBP at militarypay.defense.gov prior to out-processing. During out-processing, you will be asked if you want to opt out of SBP because by default, you are opted into the plan. An alternative to SBP is life insurance. Another priority when transitioning from the military is knowing how your tax bracket will be influenced. Your pension and new job will affect your tax bracket. Start setting money aside for this reality. VA disability payments are tax free. It is a benefit that you have earned and can be viewed as a lifetime annuity. You are guaranteed that income with a cost-of-living adjustment each year. With just a 10% disability rating, you are eligible for a VA home loan. Service members who are separating and plan to file for disability compensation can file their claim before separation through the Benefits Delivery at Discharge (BDD) program. The BDD program allows service members to apply for VA disability compensation benefits between 180 to 90 days prior to separation. If your disability rating is 30% or higher, you will have preference when it comes to jobs in the federal government. There are many considerations when it comes to accepting a job offer. Look at the total compensation package, not just the salary. Benefits might include a 401K or a 403b and stock options. You will want to consider starting a Roth IRA or a traditional IRA. Do your research and seek assistance and advice to help you navigate your financial situation.Subscribe to our YouTube channel at https://tinyurl.com/llforvets22Connect with Todd at https://www.linkedin.com/in/todd-nelson-edward-jones/Transition 30 LinkedIn Group: AAFMA, the American Armed Forces Mutual Aid Association is the longest-standing nonprofit association offering life insurance, wealth management, mortgages, survivor assistance and more. AAFMA is dedicated to helping servicemembers be ready for life after the military. AAFMAA would like to offer you their free Transition Timeline, a guide to help you create a solid military transition plan. Let AAFMAA help you get ready for your next step by visiting www.aafmaa.com/ll4v.

https://military.wisestewardshipfp.com/militarymoneymanual - Free resources for Gold Star Spouses and Families Daniel Kopp CFP, joins Spencer Reese and Jamie to explain survivor benefits for Gold Star Spouses and Families. Programs and resources for active duty military widows include: Survivor Benefit Program (SBP) Tax exempt VA Dependency and Indemnity Compensation (DIC) rates for the surviving spouses and dependent children of Veterans 12 months of BAH or on base housing $500,000 of SGLI plus $100,000 death gratuity, both of which can be deposited directly into a Roth IRA thanks to the HEART Act Fry Scholarship, which essentially sets up an individual GI Bill scholarship plan for each surviving child and spouse And many more resources and programs available to assist surviving military spouses during this extremely difficult time More information on the HEART Act: The HEART Act permits Surviving Spouses who receive death gratuities and SGLI death benefits to invest some or all of the funds into a Roth IRA, thereby allowing the funds to grow tax-free, including when they are withdrawn or passed on their beneficiaries.

We are diving into all things life insurance today. I know this isn't a super fun topic to talk about but it is incredibly important to set yourself and your family up financially if something were to happen to you.Topics covered include:- SGLI and FSGLI, who gets it and coverage amounts- transitioning from SGLI to VGLI and the rules around that- private insurance and the difference between whole life and term life policies- pros and cons for whole life vs term life- the Survivor Benefits Program or SBP, who is it for, what does it pay and is it worth it?We talk a lot of numbers and examples and I hope you find it helpful in navigating your insurance needs. As stated in the show, I am not a financial professional, this is my knowledge, experience and research. Please seek the counsel of a financial professional when determining your insurance and financial needs. Stay tuned for more money talk next week!I so appreciate you listening to the show!If you wouldn't mind leaving a rating and review I would really appreciate it!!To get in touch with Alison with questions or potential topics or guests please emailthemilspousepodcast@gmail.comFollow us on IG @themilspousepodcast  And please check out our brand spanking new website! www.themilspousepodcast.comI so appreciate you listening to the show!If you wouldn't mind leaving a rating and review I would really appreciate it!! To get in touch with Alison with questions or potential topics or guests please email themilspousepodcast@gmail.com Follow us on IG @themilspousepodcast And please check out our brand spanking new website! www.themilspousepodcast.com

FROM BLACK HAWK HELICOPTER PILOT TO ENTREPRENEUR US Army veteran Chris Videau talks about his service as an MP and Black Hawk helicopter pilot. Chris explains his exposure to burn pit contamination in Iraq and its impact on him. Listen in as Chris explains where the idea for Sheets Laundry Club came from to eliminate single use plastics in the home laundry, kitchen and personal care. Order Sheets from Chris here: www.sheetslaundryclub.com  ARMY NATIONAL GUARD AND COMBAT TO INSURANCE AGENCY OWNERSHIP Michigan Army National Guard veteran Brett Fennelly talks about life insurance, SGLI, VGLI and the new VetLife programs offered to disabled veterans. Brett has a Farm Bureau agency in Ann Arbor, Michigan and talks about stacking insurance products with host Jim Fausone. Looking for a fair deal? Comparative quote? Contact Brett at 734-944-0660

Join David Befort and Paul Fugere on Episode 7 of the Wealth Warehouse. In this episode, David and Paul talk about the post-military life insurance options available to military members. David shares an excellent case study about how a military friend who funded an annual premium for a specially designed whole life policy made $100k happen by his retirement. Aside from that, they also touch on soldier group life insurances, survivor benefit plans, why transitioning members shouldn't cut themselves short, and what the 'go-to-hell' fund means. In this episode you will learn: What is SGLI? On Survivor Benefit Plans and Surviving Spouses Many service members in their prime live too much off on their pension What a senior service member would tell a young member regarding money How can you say 'no' from a place of strength? and so much more! About your hosts: David Befort and Paul Fugere are the hosts of the Wealth Warehouse Podcast. David is the Founder/CEO of Max Performance Financial. He founded the company with the mission of educating people on the truths about money.  David's mission is to show you how you can control your own money, earn guarantees, grow it tax-free, and maintain penalty-free access to it to leverage for opportunities that will provide passive income for the rest of your life. Paul, on the other hand, is an Active Duty U.S. Army officer who graduated from Norwich University in 2002 with a B.A. in History and again in 2012 with a MA in Diplomacy and International Terrorism. Paul met his wife Tammy at Norwich. As a family, they enjoy boating, traveling, sports, hunting, automobiles, and are self-proclaimed food people. Catch up with David and Paul on: Website: https://infinitebanking.org/agents/Fugere494 (https://infinitebanking.org/agents/Fugere494) https://infinitebanking.org/agents/Befort399 (https://infinitebanking.org/agents/Befort399) LinkedIn: https://www.linkedin.com/in/david-a-befort-jr-09663972/ (https://www.linkedin.com/in/david-a-befort-jr-09663972/) https://www.linkedin.com/in/paul-fugere-762021b0/ (https://www.linkedin.com/in/paul-fugere-762021b0/) Email: davidandpaul@theibcguys.com Survivor Benefit Plan Summary: https://militarypay.defense.gov/Benefits/Survivor-Benefit-Program/Overview/ (https://militarypay.defense.gov/Benefits/Survivor-Benefit-Program/Overview/) Self-directed IRA Summary: https://www.investopedia.com/terms/s/self-directed-ira.asp (https://www.investopedia.com/terms/s/self-directed-ira.asp)

Merry Christmas and welcome back to the podcast. I hope yo've a had a bit of a break to spend time with the ones you love. Here's a special shout out to our military and civil servants that are spending another holiday far from home and family. We love you and we're thinking of you. Thanks for being there for us.Today's podcast is a short one. It's a time for rest, fun, and joy. So believe it or not today's podcast is on how our military service members can change their income tax withholding and change your Servicemen's Group Life Insurance (SGLI). Whaaat? REALLY? Why? Who wants to think about this at Christmas. Especially if you've been in awhile you know almost any personnel action you have to do that's related to your pay is a pain, can go bad fast, involves who knows what paperwork and chasing done the right person to hand it to.So this Christmas, my gift to you is the ‘EASY” button for changing your SGLI and W4 withholding. It's the Christmas miracle of military paperwork. If you are getting a big refund each year or a nasty tax surprise at filing time, you can instruct your employer to change your withholding amounts by filling out a new W4. I did an entire episode on the W4 Withholding form in Episode #40 Withholding. So refer back to that to see what information you need to update your withholding. And I'll put a link in the show notes to the IRS Form W4 too. https://www.irs.gov/pub/irs-pdf/fw4.pdfFor our serving and retired military and DoD civilians it is, no kidding, easy. You log into your MyPay account at  https://mypay.dfas.mil/#/. The information you input directly on the MyPay website is the same as the W-4 form. On MyPay look for the Pay Changes category and under that you can chose federal withholding or state withholding. Fill in the blanks online and its all done online in a few minutes.The other Christmas miracle easy task is changing your SGLi. Our serving military now can make changes to your SGLI online using the the SGLI On-Line Enrollment System (SOES). Go to MilConnect (link again in show notes) https://milconnect.dmdc.osd.mil/milconnect/ On the MilConnect main home page you'll find front and center a “I want to…” section and Manage my SGLI is an easy to see choice. Once you click that button, you'll be prompted to sign in with your DS login, your CAC card, or your DFAS myPay credentials. Your choice. You'll se a ‘If you have had a life event” choice. If you've gotten married since you joined the military, or divorced, had children, or a previous beneficiary has passed, now is a good time to relook how much coverage you have and who you have listed as beneficiaries. You can change your amount of coverage and beneficiaries  all on-line, oh so easy.And that's it for today! If your end of year to-do list or New year's resolution includes finally updating your income tax withholding or SGLI coverage. Hop on it. So quick and easy. A military Christmas miracle.

**The views and content shared in this Podcast are personal and do not reflect the views of any branch of Military service.**Many say save for a rainy day, well Chief Bridges of Mastering Debts In Advance says think about saving for LIVING!! Go Fund Me is not a replacement for life insurance.  Honestly, Insurance is something we may not truly grasp or even deem necessary sometimes until it's too late, but it's necessary for your peace of mind and preparation for what May come. SGLI is great but you should be aware of all your options! This company can help you with education on insurance and on money management overall! Why?? Because preparation is Key for the future! If you don't do it for yourself, do it for your loved ones. This is an important episode to listen to and you want to contact your sister in arms for more information! See her bio below: Melissa Bridges is from Columbus, MS and she has served 19 years in the United States Air Force.  She has spent her time using her personal and career experiences to help people master their debts in advance.  The ultimate goal is to help clients prepare for unexpected money challenges, retirement, critical and chronic illnesses, and death. She knows there is no single approach that works for everyone, so she continues to educate herself on how money works, how money grows, and how to tailor these attributes to the needs of the client. She received her education at the University of Marlyland University College with Bachelors in English and a minor in Sociology. She is currently enrolled at Columbia Southern University in the MBA program for Human Resource Management. She earned her Life License in November 2020 and she is currently licensed in 18 different states.  **The views stated here today do not reflect any views of the United States Air Force** Connect with Melissa: Email: masteringdebtsinadvance@gmail.com Facebook: Mastering Debts in Advance Instagram: @masteringdebtsinadvance *Want to share your story or get our insight on any topic that impacts you the military woman, email us at camobeautystories@gmail.com. We LOVE to hear from YOU!Don't forget to SUBSCRIBE, like, comment & SHARE on IG, FB & Twitter and join us  Friday's at 5PM EST on major podcast streaming platforms.The views and content shared on this podcast are personal and does not reflect the views of any branch of military service!Be Kind to your body, soul & mind!

This week, we're going to talk about how to bridge the gap if you've decided you want to try something you've always dreamed about, find a different career, or just take a much needed break. When planning for this, think what do you want this gap to be and for how long. Then come up with a budget for that gap. Your current budget is a good place to start, then make adjustments. Another key budget consideration is health insurance. This is NOT the place to skimp. It's not worth putting your whole financial future at risk by skipping health care insurance. This can be a bit of a challenge, but there are options. For example, if you're in the military you're when you transition out, you're eligible for the Continued Health Care Benefit Program,but it is quite expensive. Anyone,  can shop for health insurance on healthcare.gov. There's different plans you can choose from and you may qualify for a tax credit to pay for some of the premium costs.. You will need to know where you plan to home base, because these plans vary by state. If you're healthy you may save money selecting a high deductible health plan. Your premiums would be lower in exchange for paying more out of pocket expenses and having a higher catastrophic cap Next consider  life insurance. If you have someone you support financially who would struggle without your income when you pass, like children and or a spouse that has been out of the workforce awhile, or is earning a lower income, you need to plan for continuing life insurance during your gap. If you are meeting that need now with workplace group life insurance like SGLI or FEGLI, you will need to buy life insurance before you start your gap. Term life insurance policies are usually quite reasonably priced.Once you've developed a budget for your gap t, look at how much time you have until your gap starts, and put a dollar figure on much you need to save from each paycheck to get there.  The last big decision is what to do with those savings until you need them. If you're one to three years out from your gap, the best thing to do is save that money in an FDIC insured bank account. That can be a savings account, a money market account at a bank, or certificates of deposit.  If your gap is more than three years away depending on your tolerance for risk and whether you've got flexibility in the timing of your gap, you may earn a higher return.  But that means taking some risk. Bonds are often a good choice for these sort of mid-term goals. Your returns will fluctuate, but not as much as stocks. Stock are riskier, but on average provide even higher returns.  It's helpful to have some flexibility in timing your gap. If for instance, you're able to just put it off a year, you can continue saving, and that gives time for the markets to rebound a bit. And then you could get that back in line and probably even exceed your initial goal. If you can wait.A good vehicle for doing this saving into low cost index funds. You can buy these funds directly from a mutual fund company  or open a brokerage account  Another option is Betterment. They invest your savings in low cost index funds that track an entire stock and bond market, just tell them what percentage to invest in stocks and what percentage to invest in bonds. Vanguard has Life Strategy Family Funds look at how much time you have until you need your savings, then invest in mutual funds for you.  I hope you've enjoyed my podcasts on funding a gap. I'd love to hear about your dreams for a transition or gap and how you will save for it. If you'd like some help with the planning reach out for a free consultation. I love helping you live your dream life. 

American Armed Forces Mutual Aid Association. Wait, that's a mouthful! What does AAFMAA do for our military community? Find out in this episode as LTC Olivia Nunn speaks with Jeremy Karr, Army Veteran, and the Membership Coordinator at AAFMA. Listen about the importance of having insurance before, during, and after your time in service, and what options are available outside of the standard SGLI afforded our service members. If you ever wanted to know the basics of Insurance 101, this is the episode you can't miss! 

Todd asks Gregory some advice on how to pick the right financial advisor. Marsha in Covington wants to set up a Roth IRA for her college-age kids. Is that a good idea? Gregory gives you red flags for when you're dealing with an annuity salesman. The Gamestop hearings are bringing up some scary stories about people who lost a fortune trying to score on the mania. Norman in Garyville: Can I take out a loan against my military life insurance (SGLI)? http://www.WinningAtLife.com

Today, we'll ask the question, Do I need to buy life insurance? We'll answer the questions: Do I need it? Do I already have some? Is it enough? What kind do I need or want? What will it cost? And we'll talk about some timing for insurance. Do I need to buy life insurance? First what is the purpose of the insurance. If you're young and on your own, you might not need life insurance. But if you have a spouse, young children, a family member with special needs or parents that are counting on your income, you should consider life insurance to take care of them. How much insurance do you need? Consider covering your end of life costs at a minimum. The average cost of a funeral and burial can be around $10,000 to $12,000. Your debts and final bills will have to be paid off and your assets and belongings distributed according to your will or state law. This process is called probate and there are court costs, filing fees, and attorneys fees. In most states, if it’s just your car and some personal belongings there's a simplified process, which is quicker and cheaper. Otherwise, estimate 3% to 7% of your assets, or around $20,000 on average. Consider carrying insurance to pay off your debts, like your home mortgage, your car, and any credit card debt. Insurance is paid directly to your beneficiary, usually within days. The next think about is providing regular income to the people that depend on you.. A typical rule of thumb is to have 10 times your yearly salary in life insurance to care for your loved ones. But if you're a fairly young family with children 20 times your annual salary would probably be even more appropriate. This can seem like a crazy amount of life. But remember, you and your family were counting on your future earnings to live on, to save for retirement, pay for the children's education, and pay off the home you live in. Fortunately, insurance is relatively cheap when you're young. Over time as you crossed these milestones, your insurance needs will be less and less. If you're single and don't have anyone depending on you, a very small policy to cover your funeral and burial and legal fees may be quite adequate, and could be as low as $20,000. If it's just you and your spouse, no children and you both work, 10 times your annual income may be adequate. Next, Do I have that much insurance already? If you're working you probably already have employer provided life insurance called Group Life Insurance. For active duty military there’s Service Members Group Life Insurance (SGL I). For federal employees, you're automatically enrolled in Federal Employee Group Life Insurance (FEGLI). The one downside - you lose your job, you lose your insurance. If your group life isn’t enough, what kind of insurance do you need? For most people, term life insurance will cover your needs for the best value. It's called term because you buy it for a certain amount of time, typically 10, 20, or 30, years. For those number of years, your yearly premium will stay the same. When you reach the end of the term, the insurance ends. You just match how much insurance you need, and for how long to the policy. Usually Term Life is renewable, which means you can add another set number of years to your existing policy just before it ends. Your premium will be higher for the new term, but you normally don't need to undergo a physical. There are other types of insurance as well, such as whole life, universal life, and variable life to name a few. These policies are designed to stay in force for your entire life. They are much more expensive. And if your insurance needs decrease over time as is typically the case, you're paying a lot of money for insurance, you don't really need later in life. If you have any questions or you'd like to get a second opinion on your ins

Army Veteran Timothy Stroud is the CEO of Stroud Marketing Group.Learning from his mentor, Paul J. Meyer, he set specific GOALS in his life. Paul helped him focus his energy and showed him the values of being a Servant Leader.After his honorable service as a Combat Medic in the United States Army, he quickly learned that others were not able to transition into a civilian workforce and that a better system needed to be created.By networking and learning about the 40,000+ Veteran Service Organizations in the U.S., he has been blessed to work with some amazing people. Alongside them, he gets to teach veterans how to connect with each other and find the resources available in their areas. This includes finding training, education, jobs, and careers.He has been laser-focused on helping Veterans, their families, and supporters replace the benefits that they had while in the military. This includes SGLI (life insurance), TSP (saving/investments), and health coverage.Specialties: Personal networking, professional speaking, keynote addresses, leadership, sales, marketing, team building, motivation, veteran networks, keeping my finger on the political pulse, and volunteering! Key Points: Did not served right after high schoolFather was killed while on duty as a policeman when he was 5 years oldHe left the Casinos at the age of 27 to join the Military as a Combat MedicHe was a great Medic with "magical" handsJoined the local Chamber of Commerce when he got outSurrounded himself with good peopleLearn a lot of new processes in your lifeYou got to find your placeCalling all veterans to get involved, find a cause that you absolutely believe inDo Delegate Delete Delay Connect with Timothy:Website:stroudmarketing.comhttps://veterans.vcbdone.com/Group:https://www.phantomsupport.org/ Connect With Sgt. 1st Class (SFC) John Valentine:Website:https://veteransbereal.com/Facebook:https://www.facebook.com/veteransbereal/Apple Podcast:https://podcasts.apple.com/us/podcast/veterans-be-real/id1507792755 Please don’t forget to subscribe to our podcast and leave us a 5 star written review on iTunes.  

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Part 1 of what you should know about military divorces.

Future USS Gerald R. Ford Underway for Builder's Sea Trials, Navy Implements SGLI On-Line