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Your Military Money
May 2025
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Get the Facts About Health Insurance
How well do you understand TRICARE? Brush up on the basics in this article, "Understanding Health Insurance." Learn about different TRICARE plans and who is eligible at a glance. Discover what questions to ask when evaluating your plan, including covered costs, out-of-pocket expenses and whether you need separate dental and vision coverage or supplemental insurance for various medical conditions.
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Determine Your Life Insurance Needs With This Calculator
While we're talking insurance, when is the last time you checked your Servicemembers' Group Life Insurance policy? If you are newly married or are celebrating the arrival of a baby, it's definitely time to review and update not only your policy, but possibly your beneficiary. Assess your family's needs with this calculator from the U.S. Department of Veterans Affairs.
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Plan for Your PCS
Roll 529 Funds Into a Roth IRA
Your youngest child graduates from college this spring and there's money left in their 529 account. What should you do? You may be able to move those funds to a Roth IRA. To avoid penalties, a number of conditions must be met. IRS Publication 590-A, "Contributions to Individual Retirement Arrangements," explains these requirements. Review the "Qualified tuition program rollover to a Roth IRA" section to learn about four conditions, including the lifetime limit.
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Did You Know?
More than 400,000 Service members PCS each year. If you're among them, check out Military OneSource's "Plan My Move" page to design a customized checklist based on your current duty station and the one you will be moving to. After answering a series of seven questions, you'll receive a personalized, editable checklist with tasks in categories such as paperwork, finances, household goods and transportation.
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ABOUT US
Your Military Money is an official communication from the United States Government, brought to you each month by the Department of Defense Office of Financial Readiness. FINRED oversees DoD-wide financial literacy programs and education, enabling Service members and families to strengthen their personal financial well-being.
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