Washington, DC (October 1, 2024) – In a significant move to bolster the financial stability of those who care for our nation’s heroes, Usaa Partners with the Elizabeth Dole Foundation to introduce the Caregiver Financial Journey. This comprehensive online resource is specifically designed to empower military and veteran caregivers on their path to financial wellness.
This initiative directly addresses the critical findings of the RAND Corporation report, commissioned by the Elizabeth Dole Foundation, titled America’s Military and Veteran Caregivers: Hidden Heroes Emerging from the Shadows. The report shed light on the substantial financial strain experienced by these unsung heroes, revealing an average annual loss of $13,000 due to out-of-pocket expenses and lost income related to caregiving. Alarmingly, over a third of military and veteran caregivers are struggling to make ends meet, living below 130% of the federal poverty line. These financial hardships not only impact their economic well-being but also significantly affect their mental and physical health.
David Evetts, president of The USAA Educational Foundation, emphasized the organization’s commitment, stating, “The USAA Educational Foundation is deeply committed to enhancing the financial wellness of military and veteran caregivers. We are proud to collaborate with the Elizabeth Dole Foundation to develop this groundbreaking resource, created with and for caregivers, providing them with essential tools and knowledge to achieve financial security.” This USAA partners initiative underscores a dedication to supporting the broader military community.
The Caregiver Financial Journey platform, accessible at usaaef.org/caregiver, is an accessible and innovative guide. It delivers personalized educational content and interactive tools tailored to the unique needs and interests of caregivers. Whether spouses, parents, family members, or friends, all individuals providing care and support to wounded, ill, or injured service members and veterans can benefit from this customized information hub.
Steve Schwab, CEO of the Elizabeth Dole Foundation, highlighted the importance of this partnership: “Supporting the financial wellbeing of caregivers is crucial for fostering their long-term economic mobility. We deeply value our partnership with The USAA Educational Foundation and are dedicated to such collaborations that ensure caregivers can easily access the resources they require, allowing them to concentrate on delivering exceptional care to their loved ones.” This USAA partners effort exemplifies a joint commitment to caregiver support.
This collaboration between The USAA Educational Foundation and the Elizabeth Dole Foundation unites two powerful organizations with a shared mission: supporting military and veteran caregivers through community building, education, readily available resources, and impactful advocacy. The USAA partners network extends its reach through initiatives like this, strengthening its commitment to service members and their families.
About the Elizabeth Dole Foundation
The Elizabeth Dole Foundation stands as the foremost organization dedicated to empowering, supporting, and honoring the 14.3 million military and veteran caregivers across the nation. These are the spouses, parents, family members, and friends who selflessly care for America’s wounded, ill, or injured service members and veterans at home. Established by Senator Elizabeth Dole in 2012, the Foundation employs a comprehensive approach in its advocacy and support, working collaboratively with leaders across public, private, nonprofit, and faith-based sectors. The aim is to ensure recognition of military caregivers’ invaluable service and to promote their overall well-being. The Foundation’s Hidden Heroes Campaign is pivotal in bringing attention to the often-untold stories of military and veteran caregivers and provides a vital network for connection and access to carefully vetted resources. For further information, please visit elizabethdolefoundation.org.
About The USAA Educational Foundation
Since 1986, The USAA Educational Foundation, based in San Antonio, Texas, has been a steadfast supporter of the military community. Its mission is to empower service members and their families to become informed and confident financial decision-makers at every stage of life. The Foundation offers free, user-friendly financial education accessible at usaaef.org. This tailored resource for the military community provides essential financial concepts through a comprehensive library of educational videos, interactive calculators, and downloadable worksheets. Through USAA partners initiatives like these, the foundation continues to build financial resilience within the military community.
