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Service Academy Advisor

Why Service Academy Graduates?

At the Service Academies, men and women are held to a higher standard of excellence. Bolt Financial Group holds itself to that same higher standard, where you can expect excellence in everything we do. We help fellow Service Academy Graduates seeking that same standard to achieve their financial dreams.

Shaun Carney was a 2008 graduate of The United States Air Force Academy, attending in service and athletics. He understands the sacrifice and honor. He understands that it doesn't matter where you come from or what your weaknesses are - The Academy taught him to outwork the competition and surround yourself with like-minded people. That is why we partner with Service Academy Graduates.

Why do we Love our Job?

Bolt Financial Group loves helping Service Academy Graduates and like-minded individuals achieve their financial goals. There's nothing better than partnering with someone who values integrity, discipline, and hard work and helping them achieve success. The reward - people achieving their American dreams.

Personal Finance Tips for Military Families

Military families face unique challenges, such as deployment to conflict zones, overseas assignments and the constancy of change, making personal finance even more critical.

We've found that whether you’re active duty, in the reserves, or have moved onward to the corporate world, you and spouses alike have worked several different jobs at several different companies with financial changes at each transition.

Read below for some tips we've compiled that have been helpful to the Service Academy Graduates we've partnered with.

Money Tips to Consider

  • Take Full Advantage of What’s Available
    • The Thrift Savings Plan is one way to save for retirement and a Roth TSP is now available.
    • The Savings Deposit Program allows eligible personnel serving in designated combat zones to invest up to $10,000 and receive a return up to 10%.²
    • Saving in a Roth IRA may be a good idea if you receive tax-free combat-zone pay. This allows you to deposit tax-fee income and take tax-free qualified withdrawals in retirement.³
    • The Post-9/11 GI Bill covers the full cost of in-state tuition, up to 36 months.
    • Servicemembers’ Group Life Insurance protects your family with low-cost life insurance.4
  • Set Goals—Like any mission, success begins with articulating goals you want to pursue.
  • Establish a Budget—A budget provides the financial discipline that may help you control spending impulses that can lead to greater debt levels.
  • Pay Yourself First—Determine how much money you need to set aside to reach your savings goal, deduct this amount from your paycheck, and attempt to live within the limits of what remains.
  • Establish an Emergency Fund—Uncertainty marks the life of military families, so be sure you have an emergency fund that allows you to be as prepared as possible for these changes.
  • Control Your Debt—Indebtedness is one of the enemies of financial independence.

As you think through your financial goals, remember, taking action today is your first and most important step.

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1. The National Foundation for Credit Counseling (NFCC), 2017

2. The Savings Deposit Program is a benefit offered to eligible personnel serving in designated combat zones. The guaranteed rate of return is subject to change.

3. To qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must      meet a five-year holding requirement and occur after age 59½. Tax-free and penalty-free withdrawal also can be taken under certain other circumstances, such as a result of the owner’s death. The original Roth IRA owner is not required to take minimum annual withdrawals.

4. Several factors will affect the cost and availability of life insurance, including age, health and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.