Buying a home. Saving for college. Retirement planning.

We all have financial goals we want to achieve, but often have no idea how to get there. For members of the Military, too often these goals take a back seat to frequent deployments and PCS moves.

We all need a “financial roadmap” to chart out the best route to achieve our financial goals.

That’s where AAFMAA Wealth Management & Trust can help.

What does a financial plan include?

An AAFMAA financial plan focuses on six different areas:

  • Net worth – what are your assets and liabilities today and how might you expect them to grow over your lifetime?
  • Cash flow – what are your current income and expenses and what changes do you expect? What’s going to happen at retirement?
  • Insurance analysis – do you have enough life insurance to take care of your family should you die prematurely? Should you be considering disability insurance or long term care coverage?
  • Education funding – how can you best save for your children’s college educations? How much should you be setting aside? What’s the best vehicle to use?
  • Retirement planning – which elections should you make with regard to your military retirement pay? What if you start a second career? What will your expenses be and how can you best fund them? What investments and asset allocation will help you get where you want to be?
  • Estate planning – what’s the most tax efficient way to transfer assets to your family after your death? What planning choices should you be considering? How can you maintain planning flexibility when tax laws are constantly changing?

The real value in financial planning lies in the implementation and monitoring of the decisions you make – otherwise, the plan will be nothing other than a large notebook gathering dust on your shelf. AAFMAA Wealth Management & Trust will continue to work with you to be sure you put ideas into action.

Learn more about creating a financial plan for your Military Family.

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