Ten-Hut! Updated “Financial Field Manual” for Military Families’ Personal Finances Now Available
(Juneau, AK) – Copies of the second edition of the “Financial Field Manual: The Personal Finance Guide for Military Families” will be distributed on military bases and directly to military families in Alaska by the Department of Commerce, Community, and Economic Development under a partnership of the Investor Protection Trust (IPT), the Investor Protection Institute (IPI), the Council of Better Business Bureaus (CBBB), and Kiplinger’s Personal Finance Magazine.
The January 2012 guide focuses on the key issues that can help military families make informed investing decisions, protect their money and their families, and take charge of their financial lives.
Banking and Securities Director Lorie Hovanec said, “We are aware of the fact that military families in Alaska face a lot of financial pressures during these difficult economic times. That’s why we are eager to help get out the word to active and retired military personnel and family members about what they can do to strengthen their finances and also to avoid the unscrupulous con artists and quick-buck schemers who prey on those who serve our nation.”
IPT President and CEO Don Blandin said, “For military families at home, readiness in terms of their personal finances can be nearly as important as the readiness of their loved ones who are in harm’s way serving our nation. Unfortunately, military families can have a difficult time finding the resources needed to help them make smart investing decisions. The guide is intended to fill this gap in financial education
An online version of the guide is available from Banking and Securities at: www.commerce.alaska.gov/bsc/consumer_education.htm
The 20-page booklet features success stories from service members and their families, and provides comprehensive guidance on a wide range of timely personal finance topics, including:
· Investing for the Future. Members of the military have access to special investing plans that can help them save for the future, but they are also frequent targets of scam artists and identity thieves. The guide shows them how to make the most of their special savings plans, make smart investing decisions, and avoid the new generation of scams.
· Protecting Investments and Family. Military families have some unique risks—especially when they are deployed—but they also have access to special programs to help them protect their savings and their families. The booklet guides them on how to make the most of these resources in areas such as insurance, estate planning, and new tax rules.
· Special Home-Buying Resources. Military families, who tend to move frequently and sometimes with little notice, have been hit particularly hard by the housing downturn. But they also have access to special mortgage programs and tax breaks. The guide addresses these valuable resources and some key investing decisions to protect them from housing troubles that can jeopardize their financial situation.
· Protecting Investments When Leaving the Military. Service men and women need to make some key investing decisions after leaving the military. The booklet provides guidance to help ensure that the savings they have built throughout their service lasts through retirement – which is particularly timely as they enter a challenging civilian job market.
· Special Benefits for Military Families. Members of the military have special legal rights and access to other valuable benefits, such as a GI bill that can help service members, their spouses and their children pay for college. The guide shows them how to make the most of those benefits to help protect their savings.