Free Financial and Credit Counseling

[pacmanx1]

 

OK, I was expecting a letter to update me on the status of my recent CAVC remand, instead I got a letter talking about Free Financial and Credit Counseling. I don't need free financial and credit counseling, what I need is my corrected benefits. You know the old proverb, feed a man a fish, he eats for a day but teach a man how to fish he eats for life. My thought is to feed a veteran a meal he eats for Veterans' Day but award a veteran his correct benefits, I can eat any dang where and when I want to. 

OK, my bad, is the VA just sending these letters out or is it my paranoia messing with me about my upcoming benefits?  Since the CAVC remanded my appeal, it should not take that long.

[Lemuel]

PenFed gave me the lowest rate on a home loan at the bottom of the interest rates.  2.25%  Was planning on paying off in half the time but CD rates went up on short term CDs above 2.75% Have been as high as 4.75% at CitiBank.  Maturity takes the money back to the account at PenFed where I get an additional $5.00 credit each month for the automatic payment on the mortgage.

Target you highest interest debt first.  Save where you can get the highest interest and it is insured.  Mutual funds are O K but it takes a lot of research to know what you are doing.  CDs are safer and should be where everything is after your full retirement.  If you are still investing in anything else, consider yourself not retired, and investor who may have to go back to work if his investments go sour.  Plan that way and it will not hurt as much if your investments in other than insured CDs goes sour, and you are back in the employment line.

You do not need counselling to figure these thing out.  Just do the research.  I do not know when credit unions could get "anyone" to join.  Used to be you had to be a particular segment of the population within a particular area to join a Credit Union. Ex.  Navy to join the Navy Federal Credit Union at a particular base while you were at that base.  You could stay a member even after you moved but you could only join under those circumstances.

I joined PenFed even though I have never been stationed in DC.

[Lemuel]

I am legitimately TDIU.  Fully retired without ability to go back to work.  All of my investments are in insured CDs and insured high interest savings accounts. Waiting at the BVA for an SMC decision.  Hopefully SMC-t.

Edited June 19 by Lemuel

[broncovet]

Scammers target Veterans, especially us who get a check from VA.  

Dont go to their links, do your own search and use phone numbers YOU discover, not those provided by others.  Its pretty easy for scammers to answer the phone "Department of Veterans Affiars" when they are in Nigeria.  

THE REAL Veterans banking program, on VA.gov, is here:

https://www.benefits.va.gov/benefits/banking.asp

    This is generally for 

Vets "who dont have a bank" to deposit checks to.  may need this.  It says, on va.gov

Quote

Neither VA nor AMBA endorses any particular banks, credit unions, products or services, or requires Veterans or other beneficiaries to use them.

If you are speaking about a financial planning, know this:

     Financial planners have 4 plans to cover their fees:

1.  Fee plan.  You pay the planner an agreed amount for a representive to develop a plan for you, generally its based on the number of hours needed.  It may also be a percentage of AUM (Assets under management), a fixed fee, (often 5000 to 10,000), or hourly.  

2.  Commission plan.  You pay nothing but "buy products" where the planner gets a commission.  

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

WORST PLAN EVER< COSTING LIFE SAVINGS>>>>>>>>>>>>

3.  Con plan.  You write your check out to the name of the financial planner, and never see any money ever again.  They are 100 percent of any money you invest.  ####NOTE. These are sometimes recommended by a trusted friend.....$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$. The friend gets conned also, but did not know he was being conned until its too late.  Cons are experts at gaining your trust.  Its what they do for a living.  

< call your accountant....or banker, or insurance agent.  If it sounds too good to be true, it probably is.  

 

END WORST EVER PLAN and all your life savings.  

4.  BEST plan. READ, READ, READ and learn.   Educate yourself and do things like Watch utube videos such as Warren Buffet, who talks about financial planners and why we dont need them.  Brokerage firms such as Fidelity have "built in software" where you can enter your numbers and develop a plan.   But be careful about the advice you take online, check it with other, independent sources, such as your brokerage account.  

If in doubt, try asking on hadit.  Lets just say I have some extensive knowledge on the matter, and will answer questions as I have time.  Be patient.  

Waren Buffet quote:

Quote

The stock market is a device to transfer money from the impatient to the patient.  Decide which one you want to be.  

  

Edited June 19 by broncovet

[Rattler]

Do you have a direct deposit of your VA Check? I saw a letter some time ago where the VA was not going to issue paper checks and had set up a system where you would get a debit card to access your funds.

[pacmanx1]

25 minutes ago, Rattler said:

Do you have a direct deposit of your VA Check? I saw a letter some time ago where the VA was not going to issue paper checks and had set up a system where you would get a debit card to access your funds.

I have been a member of my current Credit Union for well over three decades (30 years). Even before I started getting my VA benefits, I opened my account when I worked for the federal government as a civilian employee.  My account has not change and every VA benefit I have ever received was to this Credit Union even my Voc Rehab payments. There has been no reason for me to change anything, as stated in my OP (Original Post), when you lose everything and have been financially broke for years, when whatever money you get begins to come in, the only thing you can do is to simply pay what you can and go from there. 

 

[Rattler]

It's BS that they send out to Vets. I guess it has some connection to someone who is connected to the VA via capital hill.