Veterans Guide to Benefits

Every November, we pause to honor the brave men and women who have served in the United States Armed Forces. As a veteran, Veterans Day is more than a date on the calendar—it’s a reminder of the sacrifices made, the camaraderie shared, and the promises our country has made to those who served. One of those promises is access to a wide range of benefits designed to support veterans after they leave the military. Yet, too many veterans don’t know what’s available or how to claim what they’ve earned.

As a financial planner who works closely with military and veteran clients, I’ve seen firsthand how these benefits can transform lives. This article is your guide to understanding what could be available for you and how to take action.

Why Benefits Matter

Transitioning from military to civilian life can be challenging. Whether it’s navigating a new career, managing health issues, or simply adjusting to a different pace of life, veterans often face hurdles that they’ve not encountered before. Veterans’ benefits can help in the transition. Other benefits, like Veterans Administration (VA) health care, may provide lifetime support based on qualifying injuries or conditions that resulted from military service. These benefits aren’t handouts but earned resources meant to ease the transition and support long-term well-being.

Key Benefits Every Veteran Should Know About

Veterans Administration Disability Payments and VA Pension

• VA Disability Compensation: Monthly tax-free payments for service-connected disabilities. The recently passed PACT Act expands health care and benefits for veterans exposed to burn pits, Agent Orange and other toxic substances, making it easier for them to access the support they've earned.
• VA Pension: For wartime veterans with limited income and assets.

Health Care Benefits

• VA Health Care: Eligibility is based on factors like VA disability rating (tied to service-connected injuries or conditions), service history, discharge status and income.
• Mental Health Support: Includes counseling, PTSD treatment and substance abuse programs.
• Community Care: If VA facilities can’t provide timely care, veterans may be referred to local providers.

Education & Training

• Post-9/11 GI Bill: Covers tuition, housing and supplies for veterans who served after September 10, 2001. May also be transferred to children or spouse if you opted-in while serving and met additional service commitments.
• Montgomery GI Bill: Available to those who contributed during active duty.
• Vocational Rehabilitation & Employment (VR&E): Helps veterans with service-connected disabilities prepare for and find employment.
• Scholarships & Tuition Assistance: Many states and organizations offer additional support for veterans and their families.

Housing Assistance

• VA Home Loans: No down payment, competitive interest rates and no private mortgage insurance (PMI). Eligibility depends on service history and discharge status, but is widely available for most veterans. This is a lifetime benefit that can be used numerous times.
• Adapted Housing Grants: For veterans with service-connected disabilities to modify or build homes suited to their needs.

Other Benefits

• State Benefits: Individual states provide various benefits for veterans ranging from tax relief, housing, veterans homes to additional education benefits and free or reduced hunting and fishing licenses. You can find Missouri state veterans benefits at mvc.dps.mo.gov/service/.
• Funeral Honors & Burial: Eligible veterans are entitled to military funeral honors, which typically include a ceremonial folding and presentation of the American flag, the playing of “Taps,” and the presence of at least two uniformed service members, one from the veteran’s branch of service. You can access this benefit through your funeral director. Additionally, there are national and state veteran cemeteries that you can be buried in if you meet the qualifications.

Common Barriers to Accessing Benefits

Despite the availability of these resources, many veterans face obstacles taking advantage of them. This could often be because they simply are unaware that these benefits exist or that they do indeed qualify. Claiming and qualifying can be complicated, confusing and time consuming, which can also discourage veterans from taking action. Additionally, some veterans may feel that other veterans need the support more, so they don’t apply for or get the benefits they’ve also earned.

These barriers are real, but they’re not insurmountable. The key is knowing where to start and who to ask for help.

How to Take Action

1. Visit VA.gov and review your benefits. Create an account to access your information and benefits.
2. If you need to file for benefits or want to know if you qualify, talk with a Veterans Service Officer (VSO). VSOs are trained advocates who understand VA benefits and can help you get access to them. Saint Charles has two VSOs. You can find their info at mvc.dps.mo.gov/service/.
3. There are also VSOs at many veteran-affiliated organizations like the American Legion and VFW. The VA has a VSO search tool at va.gov/get-help-from-accredited-representative/find-rep/.

As a financial planner, I always encourage my clients who are veterans to treat benefits as part of their overall financial strategy. Whether it’s using the GI Bill to avoid student debt or leveraging VA loans to buy a home, these tools can make a significant difference.

Final Thoughts

Veteran’s Day is a time to honor service and it’s also a time to empower those who served. If you’re a veteran, you’ve earned these benefits through your sacrifice and commitment. Don’t let confusion or hesitation keep you from claiming them.

Reach out. Ask questions. Get help. Whether you’re just starting your civilian journey or it’s been years since you’ve left the military, it’s never too late to take advantage of the support available to you.