4 Ways Veterans Can Take Control Of Their Finances
Taking control of your finances can be trying for anyone, but for struggling veterans, this issue may feel impossible to tackle. Luckily, there are lots of resources available, and the Purple Heart Foundation prides itself on helping military veterans and recognizing the sacrifices they’ve made. We would like to extend some information on how veterans can take control of their own finances on an individual basis.
1. Check Your Credit Score
Credit scores may not be the first thing on your mind when checking your bank accounts, but they are an extremely important tool that is needed when making big-ticket purchases. For example, buying a home will require a credit score check before you are able to take out a loan. Although VA loans offer flexibility to veterans, it’s still a great idea to first understand what credit score is needed to buy a home. Checking your credit score is free and won’t impact your credit. Plus, just this small step will allow you to gain a clearer picture of your financial situation.
2. Have a Plan to Pay Off Your Debts
Anyone struggling with debt understands the burden it can have. However, it’s crucial that big and small debts alike come with a plan for paying them off. Some of the more important factors to consider when creating a debt payoff plan that financial experts recommend is to include what your baseline budget will be and how much you’re going to allocate each month toward your debt payoff. Having an idea of how you’re going to pay your debts on time and eventually living debt free will be a huge weight off your shoulders and allow you more flexibility in your finances.
3. Cancel Unnecessary Subscriptions and Limit Overspending
Overspending is a common problem for many. There’s a reason such a thing as “retail therapy” exists! But that joy from buying a fancy back scratcher will quickly fade once you do the math on how much these unnecessary wants are costing you. Ways to combat emotional spending may include window shopping instead of buying so you can learn to understand what triggers your desire to overspend. Even taking a look at your monthly subscriptions, such as streaming services, and cutting back on those can help you increase your budget and improve your ability to meet long-term financial goals.
4. Save Up Toward Retirement
Lastly, retirement should be a huge consideration and part of your overall financial plan. Whether it’s through a 401(k) plan or savings account, having money set aside specifically for your retirement is a great way to start. Consider also speaking with a financial advisor to see exactly how much you and your family should save up to retire, and what your individual options are.
Taking control of your finances is no small task, and with the COVID-19 pandemic, this task may become that much more difficult. The Purple Heart Foundation is committed to helping veterans in whatever way possible, so we hope these steps will help you take control of your finances. If you would like to help veterans who are struggling financially, please be sure to check out our Veterans Critical Assistance Grant and make a donation today. Together, we can make a difference in the lives of our nation’s veterans.
Guardians of Democracy
The Purple Heart Foundation prides itself in recognizing military service members throughout the years. The United States military, law enforcement and first responders are an essential part of this country as they give their lives for our freedom and our safety. This past year has been very tough for everyone due to COVID-19, but it has been especially hard on our essential workers. The Purple Heart Foundation would like to extend a heart-warming thank you to these guardians for protecting our freedom and ensuring our safety. During this Black History Month, we recognize Eugene Goodman for his heroic efforts on Jan 6, 2020 during the attack on the capital building.
Eugene Goodman was born and raised in the Southside of Washington D.C. in the 1980’s. Goodman had humble upbringings and graduated from Central High School in Capitol Heights in 1999. Many of his teachers have come out expressing how truly proud they are of him. They described him as a quiet, helpful, and well-mannered student. It is said that, without even knowing it, he took on the role of peacekeeper at a young age by breaking up fights in the lunchroom on occasion. “To save this country, I mean for this person to save this country, I just feel so connected,” one of his teachers, Mr. Banks, expressed through tears.
Not long after, Goodman joined the United States Army, serving from 2002 to 2006. During his time in service, he was part of the 101 st Airborne Division, serving in the Iraq War. He left the military as a Sergeant to later join US Capitol Police in 2008. His former unit XVII Airborne Corps said he was a hero long before the incident on Jan 6. He is truly a guardian of his city, from a very young age.
On Jan 6 th , 2021, our Democracy was attacked by rioters. Shock and disbelief are among some of the reactions that most people had, as everyone watched live on national television as the United States Capitol building was being breached. At the time, both the House and Senate Chambers we’re in the middle of certifying the official win of President elect Joe Biden and Vice President elect Kamala Harris.
The world watched in shock and prayed for the safety of everyone inside as the unimaginable happened at the Capitol that day. It seemed like a movie that went on for hours. All those defending our democracy that day are heroes, but after getting a closer look at personal videos, security footage and more, one hero stood out, and his name was Eugene Goodman.
As Goodman saw the rioter’s approach his location, without a doubt, he took matters into his own hands and tried to diverge the crowd in front of him away from the Senate Chamber while calling for back up in another part of the Capitol. Eugene used himself as bate, knowing that they were only feet away from the Senate Chambers where Vice President Mike Pence and over 100 other officials prepared for the worst. Eugene Goodman’s actions that day may have save their lives, and for that he was recognized worldwide, and awarded the Army’s Distinguished Public Service Award. Both Republican and Democratic politicians, have commended Goodman for single-handedly taking action and preventing a bigger tragedy than what they had already been living.
Following the incident on Jan 6 th , 2021, Eugene Goodman’s actions that day have been highly recognized worldwide, and for those actions was awarded the Army’s Distinguished Public Service Award. Lawmakers have also proposed a bill to award Capital Police Officer Eugene Goodman with the Congressional Gold Medal; one of the highest awards a civilian can receive. As grateful as he is, it is reported that he is also afraid he might be targeted by extremists and said he would do the exact same thing again. During the Presidential Inauguration, Goodman got to escort Vice President-elect Kamala Harris to the stage. He was promoted to Sergeant at Arms of the United States Senate and was announced as such during the Inauguration where he received a standing ovation.
Eugene Goodman has become a household name since that very day. His courageous actions protected not only the people inside the U.S. Capital building, but also everything it stands for, as a symbol of democracy which is the very base of our country. Eugene Goodman goes down in history not only as a great human being but as a guardian of the city of Washington D.C. The Purple Heart Foundation is proud to recognize him as an outstanding member of society for his selfless acts, not only on Jan 6th but throughout his career. Men and women like Eugene, are the ones that keep our country safe and give us the freedom we take for granted every day. So, we thank you, Eugene Goodman, for your bravery, valor, and lifetime of service to this great nation.
SOURCES:
https://en.wikipedia.org/wiki/Eugene_Goodman_(police_officer)
Paralympics Rio 2016
This year’s Olympic games in Rio de Janiero, Brazil was full of exceeded expectations, excitement, and more. In addition to Simone Biles, Michael Phelps, and other Olympians, there were 19 servicemen and women who qualified for a position on the Team USA roster–15 active-duty personnel, 2 veterans, 1 Navy civilian, and 1 incoming midshipman to the Naval Academy, including Spc. Dan Lowe, Regine Tugade, and 2nd. Lt. Sam Hendricks.
Out of all 121 medals, Army Specialist Paul Chelimo received one of the 37 silver medals awarded. Chelimo, who was born in Kenya, won the silver in the men’s 5,000 meter run. After the race, he was informed by a television reporter that he was disqualified from the race for infringement in another athlete’s lane, but the ruling was later overturned. Chelimo ran his best time of 13 minutes, 3.94 seconds, right behind Great Britain’s Mo Farah.
Chelimo was a part of the U.S. Army World Class Athlete Program, which he credits for being the reason he was able to compete in Rio, “I’m only here because of these Army Soldiers,” Fanning said. “That’s the reason I’m part of this delegation. But it was fun for the entire delegation to have an extra reason to cheer, not just for the United States but for the Army, so they were screaming loudly for him: ‘Who’s your Soldier? Who’s your Soldier?’”
Chelimo’s next tour will not be overseas with fellow soldiers, but throughout the United States as a trainer with the World Class Athlete Program, inspiring the youth in this country to follow their dreams.
With the Olympics at a close, it’s time to turn our attention to the 15th Paralympic Games, which will also be held in Rio. Of the Paralympians competing, there are 20 soldiers, six Marines, three sailors, and one airman across the 23 sports being showcased.
In addition to Brad Synder, a sailor who lost his eyesight in Afghanistan and holds the world record for the blind 100-meter freestyle, there is Anthony McDaniel competing in Para Rugby and Elizabeth Marks, competing in Para Swimming, among other athletes and veterans. McDaniel lost his legs and left hand in 2010 from an improvised explosive device while serving as a Marine in Afghanistan and Marks suffered severe hip injuries while an Army combat medic in Iraq in 2010, which left her with no sensation in her left leg.
McDaniel said back in 2014 that adaptive sports helped give him a sense of tranquility after spending more than a year in rehab following the IED explosion in August 2010, “It’s just been helping me stay focused and positive,” McDaniel said. “It keeps me out and active every day.”
Marks told ESPN that the medals she earns in her competitions are not the end game–to her, the process of competing is more gratifying and thinks back to helping others during her time as a combat medic, “When I step onto the blocks, I never think, ‘I want to win,’” she says. “I think, ‘I want to pour all of myself into this race because there are people who can’t physically, mentally or emotionally, do that.’ So it’s my way of performing for them.”
The Paralympics are now days away from the start of the 15th Paralympics. It runs from September 7-18. We salute these servicemen and women and are excited to see how they compete and represent the United States and their respective military branches.
The Purple Heart Foundation is committed to assisting not just the Veterans of the Paralympics, but all veterans who have served our country. Show your support for these brave men and women by making a one-time or monthly pledge to ensure Veterans continue to get the support and benefits they deserve by clicking here.
Social Security Benefits & Veterans
How to Qualify for Social Security Disability Benefits the Same Time as VA Benefits
If you are a veteran who is disabled, you may qualify for both Veterans Administration (VA) benefits and Social Security Disability Insurance (SSDI) administered through the Social Security Administration (SSA). While both are disability programs administered by government agencies, both programs have very different criteria that must be met for an applicant to be approved for benefits. You can qualify for both VA benefits and SSDI if you meet the specific criteria established for both programs.
You can have pending applications with both agencies at the same time, or you might be approved for one program and awaiting approval for the other. VA benefits are provided for disabilities related to your military service only, and you don’t have to be totally disabled. Your VA benefits are based on the severity of your service-related disability and the compensation rating it receives.
Because there aren’t financial requirements that must be met to receive VA benefits, you can receive VA benefits along with another form of disability benefits at the same time. To receive SSDI, you must have worked enough to earn adequate credits – usually this is the equivalent of 5 years full-time out of the last 10 years. You must be completely disabled for at least a year, or have a condition expected to result in death. All your medical issues are considered together – regardless of whether they are related to your military service or not.
The Disability Approval Process
The VA will review your medical records associated with your military service. If you get approved for VA benefits first, it will not necessarily help your SSDI claim. At one time, getting a high compensability rating from the VA, such as 70 percent or more, would lead to additional consideration. The new regulations published by the SSA in 2017 indicate that the SSA will not take VA benefit approvals into consideration for an SSDI application, but the SSA will review any evidence the VA considered when making their decision. The SSA will use Department of Defense (DOD) or VA evidence to expedite SSDI claims for veterans who are Wounded Warriors or who have a 100% compensability rating through the VA.
The VA doesn’t give special deference to an approval for SSDI, the VA Is required by law to consider the records that the SSA had to review regarding your condition. The medical records reviewed by the SSA could prove beneficial by offering key evidence that might help the VA render a favorable decision for your claim. While you could have a lower compensability rating – such as 5% or 10% through the VA – you could be declared fully disabled by the SSA. The SSA will consider your service-related disability, such as a back problem or lung disease, and they will also consider medical problems not associated with your military service, such as arthritis, cancer, diabetes, and heart problems.
The Application Process
If you have applied for VA benefits, you should also apply for SSD. SSDI benefits are based on the claimant’s work history – so your eligibility also relies on the credits you have earned from working. In most instances, you must have worked 5 years full-time out of the last 10 years. If you wait too long, you will start losing credits and you will become ineligible for SSDI. The application process for Social Security disability benefits is fairly straightforward. You have the option of applying online on the SSA’s website or you can do so in person at a Social Security office. After you send in your application, you should hear back from the SSA regarding your claim within three to five months.
Resources Found Via:
- https://www.va.gov/
- https://www.ssa.gov/disability/
- https://www.ssa.gov/
- https://www.disabilitybenefitscenter.org/glossary/social-security-disability-work-credit
- https://www.disabilitybenefitscenter.org/blog/disability-benefits-warrior-transition-unit-program
- https://www.ssa.gov/applyfordisability/
- https://secure.ssa.gov/ICON/main.jsp
Whiskey With A Cause: The Glenlivet 14 Year Old
The Purple Heart Foundation is solely dedicated to serving our nation’s heroes and The Glenlivet has joined our cause!
The Glenlivet is commemorating Purple Heart Month by partnering with the Purple Heart Foundation to introduce the brand new 14-Year-Old single malt scotch whiskey, in honor of our heroes. You still have time to buy a bottle of this newly crafted sing malt scotch whisky. Every purchase benefits the Purple Heart Foundation! For every bottle of The Glenlivet 14-Year-Old sold at participating retailers from July 1 to December 31, 2019, The Glenlivet will donate $1 to the Purple Heart Foundation, with a minimum guaranteed donation of $50,000, up to $100,000! The Glenlivet’s generosity will help the Purple Heart Foundation enhance the quality of life for thousands of veterans and their families across the country.
We invite you to buy a bottle of The Glenlivet 14-Year-Old and raise your glass in honor of all our heroes. Your purchase or donation will make a difference, and it will help us fund resources and programs that are so desperately needed by our veterans today. Anyone (over 21) can still honor a Purple Heart recipient this Purple Heart Month by purchasing a bottle of The Glenlivet 14-Year-Old from your local participating retailer this August!
To read more about The Glenlivet in the official press release, please click HERE.
To buy a bottle of The Glenlivet 14 Year Old, please click HERE.
To DONATE to the Purple Heart Foundation, please click HERE.
