Cover Story: Veterans and Military Will Invest Their Government Rebate Checks Wisely in 2008 - By Not Spending
U.S. military and veterans narrowly back Illinois A vast majority of U.S. military and veterans surveyed over the last week say they will put their money to work, rather than spend it, when their Federal rebate check arrives in the mail this year.
In a special economic survey of Veterans Advantage members – Veterans, Active Duty Military, National Guard & Reserve and their families – said they will not spend the money, and instead will de-leverage their own balance sheets, save or invest.
"Aside from the prudent nature of this special group of Americans, our survey also suggests the economy is taking time to catch its breath, if not falling into a recession," said H. Scott Higgins, founder and president of Veterans Advantage. "While it’s good for them personally, our members believe the money coming back to them will not be enough to jumpstart the economy."
"It seems there are more pressing issues, and it may be necessary for their own financial survival," Higgins added.
In choosing the non-spending route, roughly half of those surveyed said they will use it directly to pay down debts, such as loans and credit card purchases, while another 25% will be investing it.
"Most will probably pay off bills, which would be good for their creditors. But the rate of spending will probably not increase," one Veterans Advantage member said.
Separately, with the financial well being of its members front and center in 2008, Veterans Advantage honored author and educator Robert Kiyosaki a "TopVet," a leadership distinction recognizing him for his achievement in financial advice following his service as a member of the U.S. Marine Corps during the Vietnam War. "He is a role model for America’s Veterans: You can be a hero, and be financially successful, too" Higgins added.
Kiyosaki’s Rich Dad Poor Dad ranks as the longest-running bestseller on all four of the lists that report to Publisher’s Weekly - The New York Times, Business Week, The Wall Street Journal and USA Today - and was named "USA Today’s #1 Money Book" two years in a row.
His assessment of the current economic climate also validates the financial needs of America’s Veterans – Make prudent use of your money today for a better tomorrow.
"My concern is that there are millions of people my age who don’t have any money set aside for their retirement," Kiyosaki said in an exclusive interview appearing on www.veteransadvantage.com. "The biggest generation in history is out of time."
ABOUT VETERANS ADVANTAGE
Veterans Advantage TopVet awards designate men and women who, after completing their military careers, have gone on to make distinguished contributions in life outside the military. Their careers have spanned business, sports, the arts and entertainment.
The Veterans Advantage Survey 2008 Series is designed to highlight the opinions and concerns of the military community across America. As the role of the U.S. military continues to shape public and foreign policy debate, especially in the run-up to the 2008 Presidential Elections, Veterans Advantage is committed to conducting a series of surveys on timely topics.
Veterans Advantage is the leading nationwide card membership program delivering new recognition and rewards for U.S. Military Veterans, Active Duty Military, Retired Military, Active and Retired National Guard & Reservists, and their family members. The card membership program provides special offers and money-saving benefits as a thank you for service to the country. All who qualify are encouraged to try a 30-day trial at www.veteransadvantage.com.
