Best wealth-building opportunities for Veterans
Growing wealth can be accomplished in many different ways.
Veterans are offered certain opportunities that could allow for easier wealth-building if taken advantage of strategically.
All wealth-building opportunities fluctuate in difficulty, time requirements, and investment capital access.
Real Estate Investing benefits for Veterans
Many millionaires are made from proper real estate investing.
Although lots of market research and strategic understating is required for success.
Real estate investing provides many wealth-building opportunities.
This investment strategy is for the Veteran looking to learn the game.
With that being said Veterans are offered many outstanding and unique real estate investment financing options.
Such as access to 0% down loans that allow for home building, fixing, and purchasing.
Or the IRRRL for the Veteran with a VA-backed home loan looking to reduce the monthly mortgage payments.
Real estate investing can be done in many different ways including fixing and flipping, holding and renting, house hacking, and much more.
Here is an article on many different styles of real estate investing.
Understanding all the options and how to take advantage of them are essential to real estate investing success.
Investing in a franchise
Franchises are for the investing Veterans intrested in running their own business without reinventing the wheel.
Franchises prefer recruiting Veterans due to their leadership skills and self-discipline.
For Veterans, franchises are a great income-producing investment opportunity but require some capital and a lot of time commitment.
Due to the franchise’s preferences, many special incentives are offered to Veterans to reduce the barrier to entry.
Researching and contacting franchises is the best way to enter this investing option.
Here is an article listing a few different franchises.
Please do extensive research before investing in a franchise.
Tax advantages for Veterans
Tax advantages allow Veterans to save extra money for investing.
Many Veterans are eligible for various tax credits including the Earned Income Tax Credit, Child Tax Credit, or both.
Disabled Veterans also have special tax considerations.
Utilizing an accountant who specialized in Veterans Affairs is essential to ensure full use of all the tax advantages.
Starting a business and using VA benefits
Veterans looking to embark on investing by starting a business have a few different benefits they can utilize.
Access to knowledge and networking are some of the most important aspects of starting a business.
Special training for entrepreneurship and all its different facets is offered through the VA website.
In regards to financing options, there are many angel investor Veteran-owned groups that support one another. Contacting and working closely with one of these groups could provide insight, finances, and mentorship.
List of military Veteran angel investors.
Additainly there are a few Government provided grants and loan opportunities.
Read our article on VA grant opportunities for more information
For the Veteran looking to create a business, Government contracting is a unique option.
Veterans are set aside a portion of all government contracts.
This can provide jobs and orders for Veterans to build a company around and fulfill and expand with a massive client.