Andrew Stamp served in U.S. Army special forces for more than 10 years, deploying to both combat and non-conflict zones, where he advised foreign militaries and worked alongside U.S. ambassadors and government representatives. During his career, Drew attended over a dozen advanced military schools and graduated first of 150 Green Berets at the Special Forces Senior Leaders Course. Since providing his first financial literacy class in 2013 to his special forces team in Afghanistan, he has presented workshops on personal finance to thousands of service members ranging from Duke University cadets to U.S. Forces Command general officers. Drew has a master’s degree in business administration and is currently pursuing his Chartered Financial Consultant (ChFC) credential through the American College of Financial Services. He is married with three children and enjoys taking his family to new destinations across the US.
Many veterans entered military service after taking the Armed Services Vocational Aptitude Battery, which scores recruits in a group of ten areas for the best-suited job. The ASVAB is a proctored, timed, three-hour test that must be administered under a specific set of conditions as defined by Department of Defense policy and the recruiting standards […]
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The Marines use the Military Occupational Specialty (MOS) Code to identify all the jobs in the Marine Corps. It’s a four-digit code to identify specific job specialties. MOSs are grouped into different occupational fields (the first two digits) and then by a specific job in that field (the last two digits). After a recruit graduates […]
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Can military members buy a home with a VA loan and rent it out to others? Upon first glance, VA loan regulations appear to prohibit renting, but there are ways you can rent out your VA loan-financed property. Can Military Members Buy and Rent Out a Home with a VA Loan? You must meet specific […]
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The VA loan is a powerful tool service members and veterans can use to become homeowners. However, everyone has a different idea of what homeownership looks like, whether that’s a townhome or several acres of land. Let’s talk about what home can look like when you use a VA loan. How Does the VA Loan […]
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The VA loan is an outstanding option for military and veteran home buyers. But are there any benefits–or drawbacks–for home sellers? Here’s what sellers should know about VA home loans. VA Loan Overview The Department of Veterans Affairs administers the VA loan program, but VA-approved lenders (e.g., banks, credit unions, and mortgage companies) originate the […]
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The VA disability calculator determines your VA compensation from your Combined VA Disability Rating. Please refer to your VA disability compensation award letter for your official rating. 2024 VA Combined Disability Calculator How to Use the VA Disability Pay Calculator To calculate your disability rating, take a look at your VA disability compensation award letter […]
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DFAS reserve military pay dates are the first and 15th days of every month unless those dates fall on a weekend or holiday. Whenever a payday falls on a weekend or holiday, pay is issued on the last workday preceding the first and the 15th. Reserve members are paid twice a month. The 15th is […]
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Active duty, National Guard and Reserve members get paid twice a month, typically on the 1st and 15th, unless either day falls on a holiday or weekend. Pay dates falling on a holiday or weekend get paid the last workday before the 1st or the 15th. Below are the military pay dates and LES release […]
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On Jan. 1, 2023, basic allowance for subsistence (BAS) rates increased 11.2% for U.S. Air Force, Army, Marine Corps, Navy and Space Force personnel — the most significant increase in over 20 years. Enlisted military members now receive $452.56 per month, while officers receive $311.68 per month in basic allowance for subsistence. That’s a monthly […]
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Many veterans entered military service after taking the Armed Services Vocational Aptitude Battery, which scores recruits in a group of ten areas for the best-suited job. The ASVAB is a proctored, timed, three-hour test that must be administered under a specific set of conditions as defined by Department of Defense policy and the recruiting standards […]
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Nobody purchases a home intending to miss payments due to financial hardship. Homeowners will typically do anything they can to avoid defaulting on their loan. When homes go into foreclosure, those properties must be reclaimed by the lender and put up for sale in one form or another. One such type of sale involves repossessed […]
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The issue of security clearances comes up for both military members and civilian employees working for the federal government. Clearances are granted in order to allow troops, employees, and contractors access to sensitive information, facilities or circumstances and are not granted lightly. What you don’t know about the security clearance process won’t hurt you by […]
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If you want to know how to buy a military surplus vehicle, the first thing you will need to do is to find reputable sellers and avoid sources that may charge hidden fees, or use “gotcha” tactics to up the final cost of the purchase, etc. If you are new to buying a government surplus […]
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The Defense Finance and Accounting Service (DFAS) establishes, maintains and pays military retirees, surviving spouses and other family members. Here are the 2024 military retiree and annuitant pay dates. Military retiree paydays always fall on the first day of the month, except when the first day is a holiday or weekend. In those cases, the […]
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The Marines use the Military Occupational Specialty (MOS) Code to identify all the jobs in the Marine Corps. It’s a four-digit code to identify specific job specialties. MOSs are grouped into different occupational fields (the first two digits) and then by a specific job in that field (the last two digits). After a recruit graduates […]
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Can military members buy a home with a VA loan and rent it out to others? Upon first glance, VA loan regulations appear to prohibit renting, but there are ways you can rent out your VA loan-financed property. Can Military Members Buy and Rent Out a Home with a VA Loan? You must meet specific […]
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DEFCON stands for Defense Readiness Condition. Levels range from DEFCON 1 to DEFCON 5, with DEFCON 1 being the highest level of readiness. To the public’s knowledge, the U.S. has never reached DEFCON 1. The U.S. Joint Military Command and the Joint Chiefs of Staff set the current DEFCON level. Government officials do not publicly […]
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When two military members marry, they become a dual-military couple, also known as a mil-to-mil couple. Different branches of service may use other terms. Dual-military couples are relatively common. According to Human Performance Resources by CHAMP, nearly 7% of active-duty service members and nearly 3% of reserve and Guard members are in mil-to-mil marriages. Dual-military […]
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Drill pay for 2024 increased 5.2% under the this year’s National Defense Authorization Act. Drill pay increases go into effect on Jan. 1, 2024. Drill pay for a National Guard or reserve service member depends on the length of service and rank (most enlisted soldiers enter as E-1). National Guard and reserve service members must […]
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Ever since the announcement of the United States Space Force (USSF), there have been many contemplating the types of military careers that could happen as a result of having a new branch of military service. Once the Space Force became a reality, it brought a wave of interest not only from those who are considering […]
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Transitioning out of the military can be an overwhelming, stressful experience for veterans. Not only are you likely moving to a new location and providing for your family, but you also may be recovering from a combat situation and re-learning what life is like in the civilian world. You may need some support as you […]
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The foreign language proficiency bonus (FLPB) is discretionary pay in addition to the base pay of enlisted service members and officers as an incentive for acquiring advanced skills in foreign languages and dialects that improve the ability to accomplish mission goals. The FLPB is for active-duty and Reserve service members certified as proficient in one […]
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When selling their homes, some people choose to cut costs by not using a real estate agent. These homes are known as for sale by owner, or FSBO, properties. And, for veterans using their VA loans to purchase homes, they should understand the unique considerations for this type of sale. As such, we’ll use this […]
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Those considering joining the US Reserve Armed Forces must weigh the pros and cons of serving as a Reservist. And it’s not as easy as simply deciding you want to serve part-time in the military rather than going for a full time career in uniform. There are nuances in each branch of service–some don’t want […]
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A VA loan limit is a cap on how much a homebuyer can borrow without needing a down payment. However, thanks to the Blue Water Navy Vietnam Veterans Act of 2019, VA loan limits do not apply to eligible VA borrowers with full VA loan entitlement. VA loan limits only apply to those with partial […]
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What is the difference between military service on Active Duty, as a member of the National Guard, or as a Reservist? There are many nuances, and those new to the recruiting process soon learn there are multiple options for a career in uniform; not all involve a full-time commitment to the military. Active Duty Military […]
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Military retirement means many different things– income, lifestyle, and spending changes. But what does it take to qualify for military retirement? This article focuses on the requirements for retirement eligibility rather than individual military retirement plans such as High 36, Redux, or the Blended Retirement program. There are some basic military retirement qualification rules–these are […]
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For Reserve and Guard service members, calculating military retirement pay is an important part of financial and life planning. Eligibility to receive military retirement pay is based on service points earned during service. Those points rely closely on the professional choices a service member makes. Do you need to know how to calculate Reserve or Guard […]
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The VA loan is a powerful tool service members and veterans can use to become homeowners. However, everyone has a different idea of what homeownership looks like, whether that’s a townhome or several acres of land. Let’s talk about what home can look like when you use a VA loan. How Does the VA Loan […]
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The VA loan is an outstanding option for military and veteran home buyers. But are there any benefits–or drawbacks–for home sellers? Here’s what sellers should know about VA home loans. VA Loan Overview The Department of Veterans Affairs administers the VA loan program, but VA-approved lenders (e.g., banks, credit unions, and mortgage companies) originate the […]
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Due to unfortunate circumstances, veterans often ask how they can use the VA loan after a foreclosure. In other words, when a home financed with a VA loan is foreclosed upon, can veterans still use their VA loan benefits? They can, but certain restrictions exist. In this article, we’ll explain how veterans can use their […]
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Hearing loss and hearing damage affect nearly 30 million people in America, according to the Department of Veterans Affairs official site. Hearing problems such as tinnitus are described by the VA as among “the most prevalent service-connected disability among American Veterans.” More than half of people older than 75 years old will experience some form […]
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Here are the 2024 dislocation allowance (DLA) rates for partial reimbursement to service members. The Department of Defense provides DLA to help service members with home and household items, furniture or travel expenses related to moving. DLA rates apply whether the service member moved during a permanent change of station (PCS) or during an evacuation. […]
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How does Reserve pay work? If you’re considering a career as a Reservist, understanding the factors that determine your monthly earnings for drill weekends and mobilization to serve on active duty is important. Reserve pay functions like active duty pay in some respects but is quite different than others. Knowing the difference is huge, especially […]
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Due to the VA loan’s outstanding terms, veterans and military members often ask how the VA loan’s one-time restoration of entitlement works. In other words, how can eligible borrowers use this one-time restoration to access their VA loan benefits again? In this article, we’ll explain how to use this one-time restoration of entitlement, including: VA […]
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VA home loans, like most mortgage-loan transactions involving a new purchase loan, require an appraisal. The VA appraisal process is sometimes referred to as an inspection, which often misleads homebuyers. Here’s a look at the differences between a home inspection and a VA appraisal. What Is a VA Home Inspection? Borrower-arranged VA inspections help home […]
Read MorePlanning for your future is crucial, and understanding your retirement benefits is a significant part of that process. Our military retirement calculator below provides a quick and accurate estimate of your monthly and annual retirement pay. Whether you’re active duty or serving in the National Guard or the Reserves, this tool is designed to help […]
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The Medal of Honor (MOH) is the highest military medal a service member can earn. Created in the wake of the Civil War, the Medal of Honor is awarded to service members “who distinguish themselves through conspicuous gallantry and intrepidity at the risk of life above and beyond the call of duty,” according to the […]
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Roughly 200,000 military members retire or separate from the armed services every year, according to the Department of Labor. These veterans bring competitive skills to civilian jobs, along with core values military service cultivates: dedication, teamwork, good communication and pride in getting work done. But, finding and competing for civilian positions can be challenging for […]
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Below are the 2021 military pay charts based on the FY 2021 National Defense Authorization Act. New pay rates went into effect on Jan. 1, 2021 and will be reflected on the paychecks that are issued on Jan. 15, 2021. In 2022, the military received another pay raise based on the FY 2022 National Defense […]
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Military pay received a 5.2% increase in 2024 based on the National Defense Authorization Act (NDAA) for Fiscal Year 2024. The below military pay calculator allows you to see current, past and proposed military pay by pay grade, location and branch of service. The calculator includes base pay, basic allowance for housing (BAH) and basic […]
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TS/SCI stands for Top Secret/Sensitive Compartmented Information. For a TS/SCI clearance, the Department of Defense extensively vets military members and civilian employees. You can read about average security clearance processing timelines in our article here. Here’s what you need to know about getting a TS/SCI security clearance. Security Clearance Levels For members of the Department […]
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Security clearances are essential for many federal service jobs and military occupational specialties. Whether you are a military or civilian member of the Army, Air Force, Navy, Coast Guard, Marine Corps or Space Force, you’ll need a security clearance to access the classified information you need to do your job. Getting a clearance is not […]
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Military service often requires a security clearance. Whether you’re a military member, a federal civilian employee or a contractor, you must obtain a security clearance if you need to access classified information while working for the Department of Defense (DOD). DOD may also require you to have a clearance to work with certain equipment or […]
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You may want to rejoin the military after your discharge for many reasons. You might miss the camaraderie or you may want to re-enlist for financial, insurance or other benefits. No matter your reason, rejoining the military isn’t as simple as filling out an application and picking up where you left off. You might even […]
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Here’s your 2024 list of all 50 states that exempt (or don’t exempt) military retirement pay. Depending on the state, you may pay no income tax, or you may find your military retirement pay exempt from taxation up to a certain dollar amount. States That Don’t Tax Personal Income The following states don’t require military […]
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Basic Allowance for Housing (BAH) is a financial benefit provided to military members to help cover the cost of housing. BAH rates increased by 5.4% in 2024. Use the BAH calculator below to determine your 2024 BAH rate. The calculator requires your pay grade, duty station and zip code to calculate your BAH rate both […]
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As one of the states with the most veterans (1.6 million) in the United States, Florida has a wide array of veterans benefits. Find Florida state and local veterans’ benefits including education, employment, healthcare, tax breaks/exemptions, recreation and more below. Florida Veteran Education Benefits Florida state colleges/universities provide college credits to veterans to earn academic […]
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The Patriot Express (PE) is a type of military flight many in uniform are familiar with. The Patriot Express is used for official travel — especially for those on permanent change of station moves to military assignments overseas. PE flights will often be a combination of those on leave, going to or from new duty […]
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What kind of VA disability rating is possible for sleep apnea? Sleep apnea is a condition that, like all other VA-compensated disabilities, must have an established connection to military service in order to get an award for VA disability compensation. Service-connected medical issues, including sleep apnea, may be deemed to be directly caused by military […]
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The federal government taxes up to 85% of social security benefits depending on your income. However, 37 states and Washington D.C. provide tax exemptions for Social Security. Keep in mind this list doesn’t necessarily mean these states are the most tax friendly or best states to retire as some states still have other state income […]
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United States military members will see their largest-ever pay increase in 2023 – a 4.6% hike, according to the Bureau of Labor Statistics’ Employment Cost Index (ECI) and the 2023 defense budget. President Biden signed off on the 2023 defense budget, approving the 4.6% bump. Basic pay is the largest component of military service members’ […]
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President Biden signed the Fiscal Year 2023 National Defense Authorization Act (NDAA), paving the way for a 4.6% increase in military pay for 2023. New pay rates are effective Jan. 1, 2023, and will first appear on Jan. 14, 2023, paychecks. The military pay charts below are for all U.S. Armed Forces personnel, including the Air Force, Army, […]
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When signing up for the GI Bill, one of the first things you should know has to do with GI Bill payment dates. When do you get your housing stipend (monthly housing allowance or basic allowance for housing), when does the payment for books arrive and when does the school get their money? GI Bill […]
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Joining the military as a Reservist means serving your country while maintaining civilian employment and a mostly civilian lifestyle (outside of monthly and annual duty requirements). Before people make the choice to join the military as a Reservist, they naturally want to know what their chances of deployment might be. That depends on the nature […]
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The United States Military has several categories of military service. There are active-duty troops, members of the Air National Guard and Army Guard, and members of the Reserve for each respective branch of service. But there is also another category known as the Individual Ready Reserve (IRR), sometimes referred to as the Inactive Ready Reserve. […]
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On Dec. 14, 2022, the U.S. Department of Defense released Basic Allowance for Housing (BAH) rates for 2023. The latest BAH rates increased an average of 12.1% starting on Jan. 1, 2023, marking the largest percent increase in over a decade. BAH is intended to cover 95% of housing expenses, with service members paying the […]
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Veterans with service-connected disabilities are eligible for tax breaks and discounts in many states. In most cases, the tax breaks reduce taxes by lowering the property’s assessed value. Veterans and their spouses may be able to save thousands of dollars at tax time. But, not all states offer the same tax breaks, and qualifying criteria […]
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Veterans can use the Department of Veterans Affairs home loan benefit to purchase an existing home or build a new house on a piece of land with a VA construction loan. VA construction loans allow qualified military borrowers to use their VA entitlement toward a new construction mortgage, as well as the construction process. What […]
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How to Use the VA Loan Calculator To find the best estimate of your monthly VA mortgage payment, you’ll need to prepare a few things. First, you’ll need a home sale price. You can use the real price of a home you’re considering to estimate what you think you can afford and make adjustments as […]
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The Department of Veterans Affairs (VA) sets specific criteria on who qualifies for a VA loan. However, meeting service requirements alone won’t guarantee final approval. This guide takes a deep dive into VA loan eligibility, who can get a VA loan and how lenders determine if a borrower qualifies for a VA loan. VA Loan […]
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A “Veteran” designation is now offered on driver licenses and ID cards in all 50 states, Washington, D.C., and Puerto Rico. The state, district and territory programs make it easier for veterans to access government benefits and discounts at restaurants and retailers. Many only require U.S. Department of Defense DD Form 214, but some require […]
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While the Army and Marines use the Military Occupational Specialty Code (MOS) and the Air Force uses the Air Force Specialty Code (AFSC), the Navy uses ratings within the Navy Enlisted Classification (NEC) system to organize its jobs. It may look like there are just a few ratings, but there are many jobs classified within […]
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What is DD Form 215? Also known as DD215, or Form DD215, this is sometimes confused with DD Form 214, Report of Discharge. The DD 214 is formally known as DD Form 214, Report of Separation / Certificate of Release or Discharge From Active Duty. It contains important information about the duration, nature, and characterization […]
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The VA home loan offers eligible borrowers an incredible home buying option. With its no-down terms, the program opens homeownership to people who couldn’t afford a 20% down payment. But, many service members don’t know if they qualify. As a result, we’ll use this article to outline VA home loan eligibility requirements for all potential […]
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Military bonuses are paid to troops for a variety of reasons: enlisting or reenlisting into a short-staffed career field, “quick ship” military enlistment bonuses, etc. There are even military bonus options for those returning to duty in the Guard or Reserve after prior military service. Are you an Airman, Coast Guard member, Soldier, Sailor, or […]
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The Purple Heart is awarded to those with qualifying combat injuries, and it’s among the highest military honors available for those who serve in wartime, or while in combat against those hostile to the United States. The honor isn’t just symbolic; receiving a Purple Heart also means access to some important military and civilian benefits. […]
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A Personally Procured Move (PPM), formerly known as a DITY Move, has a few benefits over a Government Procured Move (GPM). A PPM allows you to have complete control over the process including packing your own household goods and choosing which moving company you want to use (if any), but it also gives you more […]
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