Empowering Your Financial Future
At True North Advisory, we specialize in helping military veterans, police officers, firefighters, and EMTs navigate this transition with a structured, strategic financial plan that ensures stability and long-term success.
Key Financial Considerations When Transitioning from Service
1. Understanding Your Benefits & Pensions
Your military or first responder pension is a valuable asset, but it’s only one piece of your financial future. We help you:
- Assess Pension & Retirement Benefits: Understand your pension payouts, survivor benefits, and cost-of-living adjustments.
- Evaluate TSP & 401(k) Rollovers: Determine whether to keep your TSP, roll over into an IRA, or invest in a civilian 401(k).
- Maximize Veteran & First Responder Benefits: Identify healthcare, disability, and financial assistance programs you’re eligible for.
2. Income Replacement Strategies
Whether you're transitioning into a new career, starting a business, or looking for financial independence, we help you:
- Career Planning & Salary Considerations: Compare private-sector salaries, benefits, and financial adjustments
- Entrepreneurship & Business Startup Guidance: Funding, business tax structures, and wealth-building strategies for self-employed veterans.
- Passive Income Strategies: Real estate investing, dividend-paying investments, and other non-traditional income sources.
3. Investment & Tax Planning for Civilian Life
Military and first responder salaries are often structured differently than civilian paychecks. We ensure your investment and tax strategies are adjusted accordingly:
- Tax Bracket Adjustments – Plan for shifts in taxable income post-service.
- Capital Gains & Real Estate Tax Planning – Avoid unnecessary taxation on property sales or investment growth.
- Investment Diversification – Ensure your portfolio matches your new financial reality.
4. Healthcare & Insurance Adjustments
Losing employer-covered health benefits is a major concern for many transitioning service members. We help you:
- Compare VA vs. Private Health Insurance – Find the right healthcare plan that fits your needs.
- Life & Disability Insurance Planning – Ensure coverage for income protection in civilian life.
- Long-Term Care & Retirement Healthcare Costs – Plan for Medicare, supplemental insurance, and out-of-pocket medical expenses.
5. Debt Management & Budgeting Post-Service
Leaving service may mean losing housing stipends, hazard pay, or overtime opportunities. Adjusting your budget and managing debt effectively is critical:
- Student Loan & Mortgage Planning: Utilize VA home loans, refinancing options, and education benefits wisely.
- Credit & Debt Repayment Plans: Structure a plan to eliminate debt and improve credit scores.
- Emergency Fund & Savings Adjustments: Ensure financial stability with a 6-12 month emergency fund.
