KateHorrell

Helping Military and Veteran Families Be Confidently Prepared for The Next Stage of Life

2023 Contribution Limits for Thrift Savings Plan and IRAs


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The IRS has announced the 2023 contribution limits for tax-advantaged retirement plans. Take advantage of your increased military pay for 2023 to beef up your contributions and save more for retirement. Don’t forget that you can contribute to both a 401(k)/TSP type employer-sponsored plan and an Individual Retirement Arrangement (IRA), and that non-working spouses can… | Read More…

Tricare Open Season: How To Pick The Right Tricare For Your Family


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It’s that time of year again: Tricare Open Season. This year’s Tricare Open Season runs from Monday, 14 November 2022 through Tuesday, 13 December 2022. Be sure to select what Tricare plan you want to use for 2023 during the open season, or you’re stuck with what you had in 2022 unless you have a… | Read More…

Long Pay Period Warning & Your Personal Finance Stress Test


This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

This November 2022 end-of-month pay period is going to be long for folks who use a Navy Federal Credit Union Active Duty Checking account or Service Credit Union. Every time we have a long pay period, Facebook explodes with conversations on this subject, and they provide a fascinating look into how people handle their money…. | Read More…

December Military Scholarships for Service Members, Veterans, Spouses & Kids


This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

This post is part of my ongoing Military Scholarships series. December is such a busy month, you might as well go ahead and get started on these important scholarship applications now. Allied.com Military Scholarship Deadline: 15 December 2022 Description: This is a very niche scholarship for veterans, active duty service members, and their dependents. Applicants… | Read More…

Preparing Today, For The Someday When You Leave The Military


This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

Every day, I talk to military family members who are facing transition out of the military. Whether it’s the end of a four-year enlistment, a medical separation, or retirement after 20 or 30 years, it is a major life change when you leave the military. Many of the service members and spouses feel unprepared! That’s… | Read More…

The Survivor Benefit Plan (SBP) “Payback” Period


This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

This post is part of a larger series about the Survivor Benefit Plan. Here’s the complete list of posts. Everything About The Survivor Benefit Plan Understanding the SBP-DIC Offset Life Insurance or SBP? Asking The Right Questions Retiring Military: Should You Choose SBP? 10+ Places To Learn About The Survivor Benefit Plan The Survivor Benefit… | Read More…

Capital Gains Rules for Military Families


This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

Note:  This is not professional tax advice. While I have confirmed this information with various professionals, do not take my word for it. Read the tax rules yourself (link at the bottom.) Then, consult with your tax professional to see how the rules apply to you. Capital Gains? What the heck are they, and when… | Read More…

Unemployment For Military Veterans and Retirees


This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

Leaving the military is a time of big transition: you’re looking for a new job, probably moving to a new location, and everything is unsettled. One benefit that can help is filing for unemployment insurance through the UCX (Unemployment Compensation for Ex-Military) program. Eligibility for UCX You are eligible for UCX if you: Have recently left… | Read More…

2023 Increases In Military Retirement Pay (plus VA Disability and Social Security)


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The 2023 military retirement pay increase (aka retired COLA) has been calculated, and it’s a whopping 8.7% for those who retired prior to 2022! This projected increase is based on the Social Security cost-of-living adjustment. The Social Security adjustment changes the VA disability compensation rates by law. For military, retired COLA adjustments don’t happen automatically… | Read More…

10 Things To Know About Money and Deployment


This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

When people talk about deployment, one thing that often comes up is money. How do taxes work? How much do people spend on deployment? What do you do about the bills? What’s the best way to save? The answers to these questions are different for everyone. They will depend on the specifics of the individual… | Read More…

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Disclaimer

Kate does not represent the Department of Defense, the Department of Veterans Affairs, or any government agency. This blog is strictly for informational and entertainment purposes only. The content on this site should not be considered professional financial or legal advice. I may receive compensation through affiliate or advertising relationships from products mentioned on this site. All reviews on this site represent the personal opinions of the author. All references to third party products, rates, and offers may change without notice.