New GI Bill Signed Into Law

I just received this great post from a wonderful site called, Feedthepig.org:

New GI Bill Signed Into Law

If you are an Active Duty Service Member or a veteran of the U.S. armed forces, you may be eligible for benefits from the Supplemental Appropriations Act, 2008 signed into law on June 30, 2008. The bill contains the most comprehensive education benefits package since the original GI Bill was signed into law in 1944. Benefits include:

• 13 weeks of emergency unemployment compensation.

• Tutorial assistance benefits, reimbursement for licensing and certification tests and on-the-job training.

• Benefits will be payable for up to 36 months for education or training pursued on or after August 1, 2009.

• Veterans may also receive a monthly stipend for books and supplies of up to $1,000 per year and a monthly housing allowance.

Utilizing government benefits like these can greatly boost your savings. Click here for eligibility requirements and additional benefits of the new GI bill. Read more on the Supplemental Appropriations Act, 2008. Learn more about financial literacy resources for Military & Reserves.

Visit www.FeedthePig.org for more money-saving tips.

~Joan Jackson, Publisher, The Baby Boomer Resource Center.com

 

The 401(k) Debit Card: Proceed With Caution with Your Retirement Savings

The Financial Industry Regulatory Authority has put out a new investor alert regarding the use of the new 401(k) debit card. As Baby Boomers en masse are steadily rolling towards our retirement years, it’s tempting to tap your 401(k)s with the relative ease of using a debit card.

It allows you to borrow money from your retirement savings at an ATM machine. You’ll then receive a monthly bill that includes: a minimum payment due PLUS interest, fees, and a service charge.

Go to The Financial Industry Regulatory Authority’s website to read the alert, 401(k) Debit Cards – Think Before You Swipe. You’ll be glad you did.

~Joan Jackson, Publisher, The Baby Boomer Resource Center.com