lolheisdead59
lolheisdead59 OP t1_j2f2qc8 wrote
Reply to comment by bros402 in Financial Moves for Child. Calling all Parents. by lolheisdead59
Military generally does offer these services. However, the individuals providing these services do not generally have training in personal finance as financial advisors. The individuals you normally see utilizing these services are younger service members who blow their whole paycheck on cars, alcohol, trying to live off base without the allowance.
lolheisdead59 OP t1_j2f0nnj wrote
Reply to comment by bravo-charlie-yankee in Financial Moves for Child. Calling all Parents. by lolheisdead59
As a young guy, Ive never looked into life insurance. We get the default $400k life insurance through military service and I've honestly never thought about it. Thank you.
In your opinion, is there any specific clauses or terms I should look to include/exclude in life insurance?
lolheisdead59 OP t1_j2f0219 wrote
Reply to comment by BouncyEgg in Financial Moves for Child. Calling all Parents. by lolheisdead59
No, not at all. The child hasn't been born yet. Given the fact that I'm military, our taxes are relatively low due to military pay.
I've never had to worry about maxing tax advantages, which has inevitably lead to screwups on my part with short term gains on my own brokerage account. I am keenly aware that once my wife and I transition out of the service tax advantages are going to be more important.
Thank you for this post. I will go through all of these resources.
Submitted by lolheisdead59 t3_1001gym in personalfinance
lolheisdead59 OP t1_j2fahfo wrote
Reply to comment by KS_HasRead in Financial Moves for Child. Calling all Parents. by lolheisdead59
In your experience, how expensive/involved is the process to establish a trust? Can I continually contribute to the trust?
I have done some research on trusts, but nobody in my family has any experience with such things. Thank you for your post!