In a significant stride towards bolstering the financial stability of military and veteran caregivers, the Elizabeth Dole Foundation and The USAA Educational Foundation have announced a collaborative initiative: the Caregiver Financial Journey. This comprehensive resource, unveiled on October 1, 2024, emerges from a deep understanding of the unique financial challenges faced by those who dedicate themselves to caring for wounded, ill, or injured service members and veterans.
The impetus for this vital tool stems from the findings of the RAND report, commissioned by the Elizabeth Dole Foundation, titled America’s Military and Veteran Caregivers: Hidden Heroes Emerging from the Shadows. The research starkly illuminated the financial strain experienced by these caregivers, revealing an average annual loss of $13,000 due to out-of-pocket expenses and forgone income directly linked to caregiving responsibilities. Alarmingly, over a third of these unsung heroes live below 130% of the federal poverty line, a situation that profoundly impacts not only their financial well-being but also their mental and physical health.
David Evetts, president of The USAA Educational Foundation, emphasized the organization’s dedication, stating, “The USAA Educational Foundation is deeply invested in enhancing the financial wellness of military and veteran caregivers. We are privileged to join forces with the Elizabeth Dole Foundation to present this groundbreaking resource, meticulously crafted by and for caregivers. Our aim is to equip them with the essential tools and insights necessary to secure their financial stability.” This partnership underscores the commitment of Partners At Usaa to actively support the military community through meaningful collaborations.
The Caregiver Financial Journey, now accessible at usaaef.org/caregiver, is designed as an accessible and adaptable online guide. It delivers personalized educational content and interactive tools, allowing caregivers to navigate the resources at their own speed and according to their specific needs and areas of interest. The platform is intentionally inclusive, offering tailored support for a wide spectrum of caregivers, including spouses, parents, extended family members, and friends, all united in their commitment to providing care and support to their loved ones who have served.
Steve Schwab, CEO of the Elizabeth Dole Foundation, highlighted the critical importance of this initiative: “Supporting the financial health of caregivers is paramount to enabling their long-term economic security. We deeply value our alliance with The USAA Educational Foundation and are dedicated to fostering such partnerships. These collaborations are crucial in ensuring caregivers can easily find and access the resources they urgently need, allowing them to concentrate on delivering exceptional care to their loved ones.” This sentiment resonates with the core mission shared by partners at USAA and the Elizabeth Dole Foundation – to provide comprehensive support to military caregivers.
This strategic partnership between The USAA Educational Foundation and the Elizabeth Dole Foundation effectively merges the distinct strengths of both organizations. Both are deeply committed to serving military and veteran caregivers through a holistic approach encompassing community building, educational empowerment, resource provision, and proactive advocacy. The collaboration exemplifies how partners at USAA can amplify their impact through synergistic relationships with organizations sharing similar values and goals.
About the Elizabeth Dole Foundation
The Elizabeth Dole Foundation stands as a leading organization dedicated to empowering, supporting, and honoring the 14.3 million military and veteran caregivers across the nation. These caregivers—spouses, parents, family members, and friends—provide essential care at home for America’s wounded, ill, or injured service members and veterans. Established by Senator Elizabeth Dole in 2012, the Foundation adopts a comprehensive strategy in its support and advocacy efforts, working closely with leaders across public, private, nonprofit, and faith-based sectors to ensure recognition of military caregivers’ invaluable service and promote their overall well-being. The Foundation’s Hidden Heroes Campaign is instrumental in bringing to light the often-unheard stories of military and veteran caregivers and fostering a vital network for peer connection and access to carefully vetted resources. For further information, visit elizabethdolefoundation.org.
About The USAA Educational Foundation
Since its inception in 1986, The USAA Educational Foundation, based in San Antonio, Texas, has been steadfast in its mission to serve the military community. It achieves this by empowering service members and their families to become informed and confident financial decision-makers at every stage of life. The Foundation offers free and user-friendly financial education resources available at usaaef.org. These tailored resources for the military community include a rich library of educational videos, interactive calculators, and downloadable worksheets, all designed to facilitate understanding of essential financial concepts.
