Financial Planning for Military Families

Because they tend to move residences more frequently, because their income often fluctuates, and because their line of work often subjects them to unique circumstances and risks, military families need a well-thought-out financial plan — perhaps even more than do civilian families, suggests Linda Jacob, who provides financial planning services and guidance to members of the military.

“Financial planning can be especially important for military personnel and their families,” says Jacobs, a Colorado Springs-based certified financial planner and an accredited financial counselor, “because their situations are often much more fluid” than those of non-military families.

From basics like budgeting and goal-setting to more complex issues like choosing life insurance and investments, here’s a look at some of the elements military families should consider “deploying” in their financial planning blueprint.”

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