SAN DIEGO, Calif. (KGTV) — Ahead of this Veterans Day, thousands of active duty and retired military members are struggling to stay financially afloat.
“There are benefits out there for veterans. Everything from financial assistance, health assistance, everything,” said Brett Gottlieb, Financial Advisor, Comprehensive Advisor.
Gottlieb helps about 100 former military clients in the San Diego area. One of them is army veteran Steven Moser.
“You have to know what questions to ask, you have to find the right person to get the answers from,” said Moser.
According to a recent surveyconducted by the Military Family Advisory Network, nearly 40% of veterans don’t have enough saved to cover a $500 unexpected expense, like a car repair or medical bill. More than 75% are in debt and more than 80% say they feel financially stressed.
“Another thing we’re seeing a lot…is just not having an emergency savings. A lot of times veterans…they didn’t stay in long enough where they’re getting any type of pension. And so having an emergency savings for those rainy day experiences is a challenge,” said Gottlieb.
On top of the rising cost of living and inflation, many vets are also battling trauma and PTSD.
“They don’t want to talk about it period. Because it brings all that rushing back, they can’t cope,” said Moser.
Moser added that an unwillingness to talk, can often lead to an unwillingness to seek help.
Another huge part of the problem is that many vets simply don’t know what resources or benefits are available to them – like lower interest rates when buying a home.
“Find out what your resources are. And use them.”
Both Gottlieb and Moser recommend reaching out to the VA to learn what benefits local veterans may not know they're eligible for.
