Serving in the military is an activity that takes all your attention. It is both a privilege and an honor to be able to serve in the Armed Forces, but one of the things that many new enlisted people do not do is take full advantage of the resources available in that service. Enlisted members of the United States Armed Forces have the ability to set aside part of their pay and benefits in the form of an allotment. They can direct their money toward a certain bill, or to invest or save using this allotment system.
One of the best choices for a military allotment is using savings bonds. The savings bond system has undergone a large amount of changes in the last twenty years, and it is precisely those changes that make the system more attractive. Savings bonds can now be purchased electronically, and they are attractive in that there is no risk, because they are totally backed up by the United States government, they are some of the safest method of savings that there is. Plus in buying and purchasing bonds you are both directly and indirectly supporting the efforts of our nation in its various pursuits, including the military.
Not only can you use a directed allotment, but you can also purchase bonds over the Internet, electronically. Setting up an account is easy, and you can set it up to automatically debit a credit union or bank account. When they are mature and you are ready to cash them in, you can direct the proceeds from your bonds into an account in the same manner. Electronic online bond buying is easy, quick, and it is at the same Interest rates as regular paper bonds, but the difference is it’s all done electronically. There are other treasury type items that you can purchase electronically the same way, including TIPS, Treasury notes and treasury bills, but some of these require a larger amount of money and are mostly for the serious investor, with thousands to invest at one time.
All you need as a Military Servicemember to purchase bonds online is an email address, access to the Internet and a web browser that is up to date, a physical address in the United States, and some sort of banking, savings or checking account that you can access electronically. That’s it. Once you have those things, you are ready to go.
Buying and purchasing Savings bonds directly supports the War on Terror, and supports our Servicemembers that are stationed around the world.