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The Blended Retirement System: 2018 Military Retirement Changes
| StreetShares Blog

By Virginia Newell on March 28, 2019

Military retirement changes are happening for many of our nation’s service members in the form of a new, blended retirement system. Anyone who joined the military after January 1, 2018 was automatically enrolled in the Blended Retirement System (BRS), so it’s important to understand exactly what it is and how it might impact you.

 Click here to download our guide to military retirement: Blended Retirement  System

Why Did Military Retirement Benefits Change?

According to the DoD, only about 19 percent of active duty members and 14 percent of reserve members actually hit the 20-year service mark previously required to receive retirement benefits from the military – about 1/6 of our military population.

To alleviate this problem, the Department of Defense rolled out the Blended Retirement System to serve the remaining 80 percent of service members left without military retirement benefits. The goal of the BRS is to offer a retirement system that aligns more closely with a civilian 401(k) plan, as well as to offer military benefits for those who serve their country in uniform, but not for a full 20-year career. While these new military retirement changes  are designed to save the government money, many benefits are available for military members who understand the new system. It’s perfect for veterans who want to build their savings for retirement, those who may be seeking to open a small business, or those who want to become a certified, veteran-owned, small business government contractor.

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3 Big Myths That Can Hurt Your Credit
| StreetShares Blog

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

Let's face it, there is a lot of bad information floating around the internet about the subject of credit. Credit myths abound and blindly following information or advice from someone who is not truly qualified to give credit advice can cause some serious damage to your credit scores - not to mention it could cost you a lot of money. Even many financial "gurus" give alarmingly bad advice on their television programs, radio shows, and in books which can backfire on the consumers who follow the bad advice. Here are 3 big credit myths which you need to be aware of in order to avoid getting burned.

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9 Ways to Make a Budget – and Stick to It!
| StreetShares Blog

By StreetShares on December 19, 2018

Everyone knows that a personal budget is key to financial success, but getting started can feel overwhelming. If you’re tired of getting to the end of your budget before you get to the end of the month, we’re here to help.

Money management is tricky but with discipline and determination, you can make your money work for you. There are several steps to take to create a successful personal budget. Creating a successful and manageable budget will keep you in the green and help you better understand where all your money goes. A personal budget will also help you when you ask for a raise or looking to make more money in your career. You will want to look at two to three months of your spending habits to get an idea of your current spending habits versus your income. This will make it easier to understand how savings will factor into your future. Whether you want to save money for a big trip or retirement, you’ll be able to calculate what you need to save and how long it will take. There are several tools you can use or you can go old school with spreadsheets and a traditional bank account. 

Click here to download a monthly personal budget spreadsheet now.

Create a simple budget that you can actually stick to. Here are nine simple things to take into account:

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Legacy vs. Blended Retirement System (BRS): A Quick Military Pension Calculator
| StreetShares Blog

By Virginia Newell on December 11, 2018

A short Google search on the subject of retirement readiness quickly results in an overarching feeling that Americans have rapidly been falling behind. In fact,, 42% of Americans currently aren’t saving for retirement at all.So what about you? Will you have enough saved in retirement? Will your retirement be sustainable? Use this post as a quick military pension calculator for guidance on how best to start saving.

Military Retirement Changes

For military members, ‘retirement’ has taken on a whole new set of complications with the updated pension system the government rolled out in 2018. We’ve provided a guide and outlined the general implications of this Blended Retirement System (BRS), such as whom it affects and when the changes will be implemented; however, there are deeper weeds to dig into about how specifically the BRS plan will truly affect military members’ retirement from a “numbers” perspective.

Let’s look at how the military’s pension planswork (old & new) and how to think about building your savings with help from our military retirement calculators.

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What is Cryptocurrency?
| StreetShares Blog

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

Cryptocurrency. It’s buzzworthy and always trending. Your college roommate’s cousin’s friend’s barista invested in cryptocurrency and now he’s a millionaire. It’s everywhere and it seems that everyone has an opinion on it. Is it the future of banking and finance or just another passing trend?

Regardless, it’s hard to have an opinion on cryptocurrency if you don’t understand it. Cryptocurrency and the innovative technology behind it seem complicated, but this short guide will introduce you to cryptocurrency in plain and simple English.

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What’s the Difference Between a “Hard” and a “Soft” Credit Inquiry?
| StreetShares Blog

By StreetShares on September 14, 2018

If you’ve been exploring your options for small business funding- or any other debt-based financial product- you’ve probably heard the terms “soft” and “hard” thrown around when referring to credit inquiries. What’s the difference between the two, and how do they affect your personal credit score?

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What Is A FICO Score And How Is It Calculated?
| StreetShares Blog

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

If you’ve ever needed to make a financial decision and thought to yourself, “how will this affect my credit score?”, we salute you. For the majority of Americans, the world of credit seems to be shrouded in secrecy and myth. Terms like credit score, credit report, and FICO score are thrown around without consumers knowing their true meaning. Understanding your FICO Credit Score and why it matters is important, but it doesn’t need to be complicated.

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Impact Investing: How to Make Your Dollar Do More
| StreetShares Blog

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

Wall Street gets a bad rap in the media. Stories of greed and corruption seem to fight their way to the top of the headlines every day. However, there is a new valiant knight on Wall Street: enter “Impact Investing”. It’s not just another buzzwordy term either, impact investing has been around for over ten years, although it’s finally starting to gain traction with individual investors for reasons that go above and beyond potential profits.

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How Do I Find a Good Financial Advisor?
| StreetShares Blog

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

Finding a good financial advisor can feel like a really intimidating process. Maybe you think you don’t have enough net worth to merit needing an advisor. Or you don’t feel like you can actually afford an advisor. After all, you’re trying to make money, not spend it. Maybe it’s just the thought of handing over the reins on your personal fortune a stranger. However, at some point in your life, it might be necessary to seek out the expertise of a financial advisor. If the process of finding a good financial advisor seems daunting to you, then simplify it by educating yourself on the basics and breaking it down into a few actionable steps. You’ll feel more confident in the advisor you chose, knowing you’ve done your research.

 

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Invest in America's Future: Tips to Help New Parents Become Financially Savvy
| StreetShares Blog

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official opinions, policies, or positions of StreetShares or any of its affiliates.

With all the joys that come with expecting your first child is a lot of new stress. Considering all the responsibilities that come with a baby, this is no surprise. However, you would be surprised at how few parents plan ahead on some key elements. Perhaps one of the most important and often neglected aspects of childrearing are your finances. Coming up with a financial plan is crucial to relieving stress while raising a child, especially if you’re a small business owner or serving in the military.

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