Pre-Deployment TC 12A Agenda Pre-Deployment

slide1. Pre-Deployment TC
12A<br>
slide2. Agenda Pre-Deployment Checklist Available Financial planning
Insurance and legal documents
Saving and investing
Managing debt and credit<br>
slide3. Financial Planning<br>
slide4. Setting Financial Goals If necessary, set new or additional goals to establish SMART Goals
Specific
Measurable
Achievable
Realistic
Time-bound
Write down your financial goals
Prioritize your goals
Determine how much to save<br>
slide5. Spending Plan Worksheet Handout Available Spending Plan Create and update your spending plan             
Set up automatic bill pay
Account for changes to income, taxes and expenses<br>
slide6. Special Pays Monthly Hostile Fire Pay/Imminent Danger Pay (HFP/IDP) $250 Family Separation Allowance Hardship Duty Pay (HDP) Per Diem $50 – $150 $225 Varies Source: dcms.uscg.mil Special Pay and Entitlements<br>
slide7. Taxes Combat Zone Tax Exclusion (CZTE)
Exempts all or a portion of earnings from federal income taxes while deployed to a designated combat zone
Unlimited for enlisted Service members
Officers’ pay is limited to the maximum rate for enlisted Service members plus imminent danger or hostile fire pay ($9,069.30 in 2020)
Tax filing considerations and residency issues
Resources
irs.gov/pub/irs-pdf/p3.pdf Ref. pg.15 CZTE Handout Available<br>
slide8. Insurance and Legal Documents<br>
slide9. LIFE Insurance Needs Your Total Need Subtract current coverage and assets<br>
slide10. TRICARE Overview Handout Available Insurance Overview Life Insurance
SGLI
Private Policy (Term/Permanent)
Coverage
Beneficiaries
War clause and other restrictions
TRICARE
Auto, Homeowners, Renters, Dental
Review and update your current insurance policies<br>
slide11. Estate Planning Handout Available Legal Documents Safeguard information and documents while deployed

Review and update important documents
Will
Power of attorney
Living will
Medical directives
Record of Emergency Data
Religious preference
Home of record considerations<br>
slide12. Survivor Benefits Overview Handout Available Survivor Benefits Servicemembers’ Group Life Insurance (SGLI)
Casualty Assistance Office
Dependency and Indemnification Compensation (DIC)
Dependents’ Educational Assistance (DEA)
Survivor Benefit Plan (SBP)
Death Gratuity
Social Security Survivors’ Benefits
VA Burial<br>
slide13. Saving and Investing<br>
slide14. Emergency Funds Start with saving up to $1,000

Strive to save and maintain 3 to 6 months of living expenses
Automate savings
Keep funds accessible<br>
slide15. Savings Deposit Program (SDP) Deployed to designated combat zone
Deposit up to $10,000
Earnings are taxable
Earn 10% annually
Withdrawals
Emergency
Automatic direct deposit after 120 days
dcms.uscg.mil/ppc/news/Article/1119913/savings-deposit-plan-sdp<br>
slide16. Calculate Your Earnings Estimate your earnings
Multiply the average quarterly balance by  .025 (10% ÷ 4)
Example
If your average quarterly balance is $3,000

$3,000 x .025 = $75

You earned $75 that quarter Savings Deposit Program (SDP)<br>
slide17. Combat Zone Tax Exclusion
Reserve must coordinate contributions Thrift Savings Plan (TSP) Thrift Savings Plan Handout Available<br>
slide18. Managing Debt and Credit<br>
slide19. Financial Warning Signs Financial Warning Signs Handout Available Living paycheck to paycheck
Unable to pay bills
Bounced checks
Expensive purchases
Spouse lost job
Divorce/separation
No savings
Preoccupied and being distant<br>
slide20. Mission Readiness Military values
Duty to warn
Consequences of financial problems
Non-judicial punishment
Administrative discharge
Revoke security clearance
Lose promotion or duty assignment
Leader’s responsibility
Confidentiality
Be direct, but understanding
Refer for assistance<br>
slide21. Military Consumer Protections Understanding Credit, Paying off Student Loans, Military Consumer Protection, Servicemembers Civil Relief Act, and Sources of Help for Military Consumers Handouts Available Active Duty alert and security freeze
Review credit report
Speak to a Personal Financial Manager for credit questions
Visit annualcreditreport.com
Service members may request credit monitoring from each of the reporting agencies at no charge
Know your rights
Servicemembers Civil Relief Act (SCRA)
Military Lending Act (MLA)
Student loans
Legal office<br>
slide22. Identity Theft Secure your information
Follow Personally Identifiable Information regulations and procedures
Opt out and do not call
While deployed
Active Duty alert or credit freeze
Additional information
identitytheft.gov
consumer.gov Military Consumer Protection Handout Available<br>
slide23. Misleading Consumer Practices Sources of Help for Military Consumers Handout Available Recognize scams
Multilevel marketing/pyramid scheme
Get rich quick
Too good to be true
Protect yourself
Research
Comparison shop
Sleep on it
Report a complaint<br>
slide24. Summary and Resources<br>
slide25. Best wishes for a safe and financially successful deployment!
Let’s wrap up all the topics we discussed:
Financial planning
Insurance and legal documents
Saving and investing
Managing debt and credit Summary<br>
slide26. Resources Checklist and Handouts

Financial Education and Support
Command Financial Specialists (CFS)
Personal Financial Managers (PFM)
Health, Safety and Work-Life (HSWL) Regional Practice
CG SUPRT
Coast Guard Mutual Assistance (CGMA)

Financial Literacy Mobile Apps
Coast Guard Work-Life mobile app
DoD FINRED Sen$e mobile app<br>
slide27. Thank You! The appearance of U.S. Department of Homeland Security (DHS)
visual information does not imply or constitute DHS endorsement.<br>