Military Appreciation Month

May 19, 2022

For many of us, the month of May marks the beginning of summer. The warmer weather and glaring sunshine bring with it a promise of fun, adventure, and memories to be made. The three-day-weekend that Memorial Day brings can be an excuse for parties, grilling, and travel. We are all ready to bust out our pasty-white legs and drink coolers while we watch our seasonal depression melt away into a puddle of freezie stains and sunscreen. But what some people don’t realize is that May is also Military Appreciation Month. In 1999 congress designated the month to pay tribute to the service members who have sacrificed so much for our freedom.

At Agile Wealth Solutions, we are beyond thankful for all the sacrifices made by our troops, past and present. In honor of Military Appreciation Month, we want to recognize and honor all US service members and their spouses. We hope that by providing information about available programs, that we can help inform and support our troops. Please feel free to share this post in hopes to help educate the service members in your network.

First, we would be remiss to skip over the Savings Deposit Program. The Department of Defense established the SDP to provide an effective way for active-duty members to boost their financial savings. An eligible member, serving in a designated combat zone may deposit up to $10,000 into an SDP account. The account earns 10% interest annually. The interest compounds monthly and is paid quarterly. Amounts over $10,000 do not accrue interest. The Savings Deposit Program is great program with an exclusive guaranteed return. Visit https://www.dfas.mil/MilitaryMembers/sdp/ for more information and FAQ.

Next, is the infamous GI Bill. Many people are already aware that the Post-9/11 GI Bill helps to cover the cost tuition. To break this down a little further, the GI Bill will cover up to 36 months of in-state tuition. In addition to tuition, it also allows for housing fees and $1,000 per year for books and supplies. These benefits can be transferred to your spouse or children if you don’t plan to use them for yourself. https://www.va.gov/education/about-gi-bill-benefits/post-9-11/ is great resource if you’re looking for more information.

Here at Agile Wealth Solutions, we talk so much about the benefits of Life Insurance. The military also recognizes the need and provides low-cost term life insurance coverage. Eligible service members may be automatically enrolled in the Servicemembers’ Group Life Policy. In addition, there may be other life insurance options available to you depending on your status or branch. Head back over to the va.gov for more information regarding this plan at https://www.va.gov/life-insurance/options-eligibility/sgli/.

As the summer rolls in and you find yourself enjoying your slice of the great American pie, we hope that you find time to reflect on the brave men and women who have sacrificed so much. Join us at Agile Wealth Solutions as we honor soldiers and the contributions of their families.