US Veterans have really unique financial needs. Unlike civilian employees, a lot of things can happen during their service that might make their retirement earlier than the traditional retirement age. For instance, a service-related injury can force an active military personnel in his twenties into early retirement.
And while many of these veterans receive a monthly pension form being on the Permanent Disability Retired List (or PDRL), this doesn’t mean that they can’t invest their money to further grow their funds for their own life goals, such as a smoother transition back into civilian life, continuing their education, and of course, having a more comfortable life in retirement.
Hence, in this article, we are going to share with you the top investment ideas for US veterans and their families.
Real Estate
A VA home loan inhibits veterans to get investment properties, true, but that doesn’t mean that they can’t invest in real estate. As long as the veteran lives in it, he can apply for a VA home loan for a multi-family dwelling. This is a property where two to four families can reside.
What’s great about it is that it doesn’t have to be families directly related to the veteran. The veteran can rent it out to tenants and earn passive income through rent.
Should you find the VA home loan insufficient in order to make your rental a more comfortable property to reside in, you can also explore other loan options like veteran personal loans to further bolster your capital.
U.S. Savings Bonds
It’s pretty understandable why some veterans are not too keen to invest their money on various financial vehicles like mutual funds and other stock options. After all, there are a lot of fraudsters out there posing as “investment professionals”, and even if you do find a legitimate investment opportunity, it doesn’t ensure optimum profit.
Some mutual funds and stock options are considered as high-risk, and worse, they come with high fees and low returns. Hence, we recommend getting U.S. Savings Bonds instead.
They are safe, low-risk, and earn a monthly fixed interest rate that compounds semi-annually. This is definitely a great option for those who have a weak risk appetite but still want to invest long-term.
Start a New Business
Finally, veterans can always opt to start a business of their own. But before jumping into serious financial actions, it’s important to consider that every business, from small businesses to Fortune 500 companies, must use digital marketing to meet their customers online. They must develop a digital marketing strategy using the most effective tools such as all-in-one marketing platforms, social media, content creation, etc.
Here are some ideas that we’re sure will pique your interest:
Online Travel Agency
We know a lot of veterans who got into service because of their love of the outdoors. So why not use that same interest in investing in your own online travel agency? You can even specialize in providing off-road tours for vacationers looking for exciting day excursions.
Firearms Training
One reason why veterans are hesitant to start a new business is that they fear that they are not equipped with the skills required for one. We say, why look into learning new skills when you can offer your services and launch a business making use of your existing ones?
Put your firearms expertise to good use by teaching people safe gun usage, storage, and maintenance. In this way, you’ll also be actively taking part in creating a community of responsible gun owners, something our country desperately needs.
Special Event Security
Here’s a business idea that you can even share with your co-vets. Thousands of events happen each year and a lot of their organizers prefer agencies with personnel who have a military background.
Self-Defense Training
Another business idea that can put all your military training into good use is offering self-defense training. What’s great about this business is that it offers a wide target demographic. You can offer your services to just about anyone who wants to feel safe and have the ability to protect the ones they love from young kids to professionals.
You can even specialize in a certain demographic. For instance, if you’re more comfortable working with adults, then you can even opt to partner up with a security agency and train guards.
Consultancy
For those who don’t feel that training is for them, then maybe consultancy is? Offering security consultancy services can be very profitable. They are also very in demand these days, especially among property owners looking into alarm systems installation and more.
You don’t have to settle on just getting a fixed monthly pension each month as a veteran. There are a lot of investment opportunities out there that you can definitely look into, such as real estate, bonds, and even businesses.
Should you choose to start your own business, though, then we recommend investing in something that you are already experienced in and passionate about. You don’t have to stick to the traditional business ideas and models that civilians are usually interested in. There’s a high demand for your unique expertise out there. Take advantage of that. Good luck!
