11.7% Jobless Rate for Returning Veterans

In the November 4th, 2011 edition of the Kiplinger Letter, I read an interesting commentary about Military Veterans and them finding jobs on the homefront.  The jobless rate for returning soldiers is 11.7%.  This is a significantly higher rate than the unemployment rate in the U.S.  I believe that many of these numbers are NOT true representatives of the reality.  For example, a Navy reservist has been denied employment because of his military status.  While against the law, it is a reality than many don't realize is happening to our men and women serving their country.  Free market enterprise is undergoing various challenges with a lackluster economy that is starting to pick up steam from this recession.  Some pickup is occurring but not at the breaknecking speed needed to turn the economy around.  GDP growth remains low relative to other countries. 

The Dept of Labor and Veteran's Affairs is offering incentives to businesses.  For those veterans seeking employment especially those wounded in a combat zone, there's a tax credit in hiring such a job candidate.  Government money for salaries and other incentives for employment may benefit small businesses seeking to hire yet limited with monetary means.  Obviously you need to research this on your end for clarification because some employers hiring may not realize the added benefit a veteran offers.  At the America's Heroes for Work site, you will find loads of information about this topic.  As each state operates differently and as the information is limited, it is wise to seek counsel and/or talk with a private headhunter who may specialize in placement of veterans.

Job seekers are challenged today in the U.S.  It is wise to keep in mind that this is not you personally but the market conditions in this country.  I pray that you seek a support group either at a church or an employment office or elsewhere.  Never give up faith and hope as you or a friend seeks employment.  All the best, Alfa Sugar

Veteran's Day Discounts and Deals

See this link for a free meal or other discount deals for veteran's, past and present with a valid military i.d.

THANK YOU Veterans

Happy Veteran's Day!

A simple Thank You for your Service to Our Country is the best thing that anyone can say to a veteran.  At an early morning school assembly, one veteran spoke about the importance of just saying Thank You.  I believe that many Americans do NOT take for granted the sacrifice and service of many in our armed forces.  I believe that many Americans are ignorant of the valor, courage, strength and fortitude of folks who serve and have served in our armed forces.  Tis better to do what is right and endure the slander from those ignorant of what it takes to excel for the common good.  Celebrate as we all should the wonderful freedoms we enjoy today.  This is truly a day of thanks for our Veteran's.

On Wives of Faith, Pattie Reitz posts a neat history clip as well as an appropriate poem.  WofF Veteran's Day 

History via the U.S. Dept. of Veteran's Affairs

The Purpose of Veterans Day: A celebration to honor America's veterans for their patriotism, love of country, and willingness to serve and sacrifice for the common good.

Stock Market Volatility

Portfolio managers are challenged increasingly with volatility in the stock market.  Tried and true methods of buying and holding while the stock goes up remains a popular method of investment management.  However, given the internet and the overwhelming ability to gain access to market research, timely trades and online investing, it's a whole new market environment that forces many managers to finetune their gamesmanship.  Conservative mutual funds tend to invest in technology, energy, consumer discretionary and financials especially when the 200 day moving average line is in an upward slope.  To hedge any downside risk, many park it in defensive holds such as utilities, consumer staples and health care. 

For the individual, it's either invest in a mutual fund, hire a financial advisor and/or get an asset manager to grow your portfolio.  As the US savings rate declines, many individuals are relying on their company's 401k plans to help them with these decisions.  That lends to more risk should you be at a company similar to Enron regarding your life savings.  Fewer individuals take active interest in their financials because they are too busy to invest their time into understanding it all.

While gamesmanship and market volatility is a current issue for many, I admit that Mr. Market always comes back with a different story each day.  Question is how do you manage yourself as well as your finances given these environmental changes?

Recheck your Banking

WSJ article on Credit Unions Poach Clients is a great review of current banking issues.  Local banks and credit unions when compared for their rates and quality of services revealed that the credit unions offered the best value.  Banks are not as helpful as perceived.  While many financial institutions continue to battle for your dollars, I offer a buyer beware of where you deposit your dollars.  One bank teller rudely questioned why I didn't deposit more of my dollars with them when I made a deposit for another account.  Why should I when your customer service is lousy, your fees are unwanted and your willingness to help me with my financial situation is nonexistent.  I will gladly send my dollars elsewhere.  Question is where?

Your local credit union is one opportunity.  For military families, this is not as good of an option especially with PCSing or international travel.  I find that USAA doesn't charge ATM fees and offers free checking.  There are other military-friendly financial institutions to consider. 

Important is to bank with a financial institution that does provide an FDIC guarantee on your account (not brokerage or money market as these fall under SPIC which is completely different from FDIC) and double-check the fees you could potentialy pay.

Layaway is Back!

The ads are astounding how more retailers are offering layaway this 2011 holiday season. 

Walmart Toys R Us  Sears  K-mart  Best Buy  and more!

It's an aggressive move to recapture sales at a time that consumers are more debt-savy.  The reality is that you may not capture those huge sales or markdowns as the holiday season nears to an end.  Paying full price for an item on layaway will help with your cash budget but perhaps stockpiling the cash in your wallet and waiting for the sale may be a good thing depending upon your wish list this season. 

It's important to reassess your budget this year and see what's a priority and what can wait until closer to the date.  Also, each layaway option has different fees or rules so check out the full details before signing on the dotted line. 

eLayaway is another fee-based company that enables you to make payments on certain items such as iPads and other items.  For a small fee and a proven reliable business in layaway, you can stay on target with your budget this holiday season.

 

VA Benefits

Below is interesting information that has been posted about VA Benefits.  While I can't confirm the details presented below, I blog about this information to assist those seeking information.  There appears to be a lot of red tape preventing people from getting a direct, sensible answer.  I pray that what I've shared below will illuminate some sketchy details to help many get the benefit that they so deserve.  I will continue to do financial research about this and as always, wish you the best.  Thank you for your service to our country.   ~Alfa Sugar, aka Stephanie Arredondo

Disability Pay
This blogger writes: unless you hit 20 Years you cant have both. Personally I would go with the VA $ since its tax free, well, that and I have a wife and 5 kids and will probably get 70%...Much better than 30% of E-6 Pay..But I have not been able to actually find that written anywhere in an instruction...so if anyone knows...

One blogger writes:  If you receive Military retirement at say at 30% or greater you will receive a medical retirement at 50% base pay.  If the VA rates you at 90% that means your 50% military retirement is non-taxable and you will receive compensation from the VA @40%.  

Another blogger writes the following:
If you are medically retired from the Army, you will only receive one check from the two departments, the check with the higher amount. You do not have the option of choosing which one. However, if at any point your condition worsens and your pay from one authority or the other is raised to a higher level than whichever is paying you at that time, the higher paying authority will take over your payments. Bottom-line, you will only get one check and while you have no say, it will always be the higher amount.

One of the differences between the VA and the Army, outside of the payment, is that the VA will pay 100% of your medical expenses for at-home equipment (home adaptive equipment, sleep apnea machines) whereas TriCare will usually pay for 90%, so a rating from both authorities is a good thing.

Disability Compensation
Chris Attik wrote this article that may be of interest  VA Benefit

Property Tax for Residents of Virginia
Sherri Abrams wrote this article for those disabled veterans living in the state of Virginia.
Disabled Veterans Real Property Tax ReliefJuly 9th, 2011

Effective January 1, 2011 a new law was imposed by the Commonwealth of Virginia allowing a 100% real estate tax exemption for qualifying disabled armed forces veterans and their spouses.
Pursuant to Article X, Section 6-A of the Constitution of Virginia, the General Assembly exempted from taxation the real property, including the joint real property of husband and wife, of any Veteran who has been approved by the U.S. Department of Veterans Affairs to have a 100% service-connected, permanent and total disability, and who occupies the real property as his/her primary place of residence.

The surviving spouse of a Veteran eligible for the exemption shall also qualify for the exemption, so long as the death of the Veteran occurred on or after January 1, 2011, the surviving spouse does not remarry and the surviving spouse continues to occupy the real property as his/her primary place of residence.

In order to receive this benefit the veteran is required to have a letter of disability from the U.S. Department of Veterans Affairs (1-800-827-1000). The letter will have specific wording that is required by the Commonwealth of Virginia for this exemption. The letter will NOT be automatically provided to the veteran, he or she must request this letter. Virginia Form 21-4138 may be filled out and signed in the Commissioner of Revenue’s office and faxed to the Veterans Affairs office to request the letter on your behalf.

The regional U. S. Dept. of Veterans Affairs office is located at 210 Franklin Road SW, Roanoke, Va. 24011.

When applying with the Commissioner of the Revenue for this exemption the veteran must bring:
1. An original letter of disability issued by the U. S. Department of Veterans Affairs
2. Photo Identification
3. Proof of residence of occupancy – Voter Registration Card

Surviving spouse should bring:
1. Approved and original letter of disability issued by the U. S. Dept. of Veterans Affairs (in the event the veteran was not previously exempted from local real estate taxes)
2. Death certificate to confirm the date is subsequent to December 31, 2010
3. A certificate of marriage from the appropriate State office of records
4. Proof of residence occupancy – Voter Registration Card

The above real estate information may shed light on your current state's residence property tax for veterans. 

All information presented is strictly for information purposes.  You are encouraged to conduct your research, contact a professional or seek guidance.