For military families living on the financial edge, money matters are complicated

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For military families living on the financial edge, money matters are complicated investinyou (In partnership with acorns.)

And that can all change every time they move, and they do move often. As for housing, they might get a home to live in on a base, or they might get an allowance to find a home in a nearby community.

However, service members who find themselves in serious debt are actually considered a security risk by the military and can lose security clearance. To be blunt, service members with no clearance are useless down-range. They lose their careers.Tony Anderson | Taxi | Getty Images The current military retirement system is basically what is known as a "defined retirement system." This just means that you get a set retirement based on the number of years you are on active duty. There are currently three existing retirement systems, depending on when you entered the service.

 

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