Military Officer - November 2006 - (Page 10)

fromthepresident You Asked for It MOAA never stops trying to improve the value of association membership. A new service will help members send their children and grandchildren to college. M OAA recently announced a new service available to all military retirees; all active duty, Guard, Reserve, and former ofﬁcers; and all active duty, Guard, and Reserve enlisted personnel who expect to help fund the education of their children or grandchildren. It’s called The Vanguard® 529 College Savings Plan, and it allows members of these groups (ofﬁcers must be MOAA members) to invest after-tax dollars in a fund for educational purposes. (Vanguard is a registered trademark of The Vanguard Group Inc.) Although the investment is not insured, earnings grow deferred from federal income taxes. The money can be withdrawn with no federal tax implications, as long as it is used for qualiﬁed educational purposes. Military members have told MOAA saving for college is their principal ﬁnancial concern, after health care. Participating in MOAA’s plan offers signiﬁcant advantages: For example, The Vanguard 529 College Savings Plan reduces its minimum initial investment from $3,000 to $50 for anyone signing up for this plan through MOAA. Enlisted personnel are eligible to participate in this plan because they’re also eligible to apply for ﬁnancial assistance through The Scholarship Fund of MOAA, and MOAA decided that consistency of eligibility is appropriate. Offering this plan is a win-win-win situation: It’s good for men and women who serve and have served in uniform, it’s 10 MILITARY OFFICER NOVEMBER 2006 good for their children and grandchildren, and it’s good for our nation. (To learn more about saving for college, see “A Penny Saved, a Degree Earned,” by Phil Dyer, CFP, page 64.) I couldn’t conclude this month’s column without saying how proud MOAA was to host the commander in chief Sept. 5. (See “President Bush Speaks to MOAA,” page 21.) As the chairman of MOAA’s board of directors, Gen. John Hendrix, USA-Ret., stated that day, by presenting his address to a mainly MOAA audience, the president honored all men and women who’ve ever worn the uniform of this country. Finally, November elections are upon us, and I encourage you to vote for the candidates of your choice. These are difﬁcult times, and we need the best and brightest charting our nation’s course. Later in November, please join in both honoring our veterans who have made our democracy secure and strong and celebrating America’s day of thanksgiving. Notwithstanding the dangers we face, we all have much for which to be grateful. — Vice Adm. Norb Ryan Jr., USN-Ret. PHOTO: STEVE BARRETT

Table of Contents Feed for the Digital Edition of Military Officer - November 2006

From the Editor From the President Your Views MOAA Directory Rapid Fire Washington Scene Financial Forum Ask the Doctor Chapter Activities Cover Story: Financial Guidebook Got (the right) Insurance? A Penny Saved, a Degree Earned The “Y” MOAA Scholarship Recipients Pages of History Information Exchange Member Books MOAA Scholarship Donors MOAA Member Services Advertising Index MOAA Calendar Sounding Taps Encore

Military Officer - November 2006

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.