Uncertainty comes standard with military life, but whether you’re preparing for a deployment, settling into a new PCS move, or considering the road to retirement, one thing that doesn’t have to be unpredictable is your family’s financial wellness.  

Your family’s financial plan is unique to you, but it’s common to include a mixture of savings, investments, property, and more. Your savings account and property are likely relatively simple to manage, but investments can get complicated — especially if keeping track of them means signing into multiple platforms or accounts. In addition, military families like yours may find themselves with multiple income streams, benefits packages, and investments resulting from earning military retirement, owning properties, and taking advantage of investment tools such as the Thrift Savings Plan (TSP). 

Luckily, there are a number of tools available that are specifically designed to help you keep your family’s investment portfolio streamlined, organized, and easily accessible. Depending on which one you choose, you may also be able to receive real-time updates of the value of stocks, bonds, and investments, giving you peace of mind and helping you stay on track to meet your family’s needs and goals. No matter which tool you choose, it’s important to stay on top of your information so that when you or your survivors need to make claims or access your accounts, you will have all the information you need right in front of you. 

Here are 3 types of financial planning tools available to everyone that you might want to consider for your military family’s financial management:  

1. Tools to Track Everyday Spending and Investments   

More and more, financial institutions are harnessing artificial intelligence (AI) to help their customers gain greater insight into the financial landscape. For example, Monarch Money is a modern way to manage money by utilizing AI to automatically categorize and organize spending, while also helping users analyze investments. Monarch’s AI Assistant can help users with a wide variety of tasks and questions. 

Popular with users who want an automated way to view everything in one place, this type of tool offers: 

• Real-time synching by connecting directly to bank and brokerage accounts  
• A clean, single household dashboard displaying cash flow, spending categories, and investment balances 
• The ability to set budgets, run reports, and understand your overall financial health with minimal manual input 

2. Comprehensive Portfolio Tracking and Retirement Planning  

Empower (formerly Personal Capital) is a financial dashboard platform that provides a full look at your financial portfolio. No matter where you are in your career, it’s a good idea to keep an eye on your retirement account — along with your spending habits and other investments.  

Tools like this one often allow you to: 

• Link all your financial accounts — checking, savings, retirement, and brokerage — to get a full net worth snapshot 
• Track investment performance, asset allocation, and fees 
• See model future growth and identify any potential risks ahead 
• Maintain big-picture visibility of your finances as well as a robust analysis of long-term goals 

3) A Simple App to Help You Meet Your Short-Term Goals  

If you’re just starting out on your financial wellness journey, you may want to start small. Simplified budgeting and money management apps such as Simplifi by Quicken give users a clear picture of spending, savings, and short-term financial goals. 

With an app like this, you can often:  

• Sync your bank and credit card accounts to automatically track income and expenses 
• Create customized budgets, savings goals, and watchlists for recurring expenses 
• Dip your toe in the investment game through simple investment tracking 

We’re Here for You  

Life in the military is unique — and so is your path towards financial freedom. Securing your finances for the future is always a smart idea, which is why Armed Forces Mutual offers resources such as our Financial Readiness guide and solutions to empower and protect your financial wellbeing. Not sure you’re fully covered?  

Explore life insurance options that can provide you with the peace of mind you need to live your best life. Get a quote now.