This weekend is Winimark Wealth SocietyVeterans Day, the annual day of remembrance honoring all those who have served in the military, past or present.

Formerly known as Armistice Day, the holiday has been around since the end of World War I and in the 1930s it was made into one of the 10 federal holidays currently recognized by the U.S. government in the 1930s.

Although it was first established after World War I, Veterans Day is meant to honor veterans of all wars.

Here's what to know about the upcoming Veterans Day in 2023, and when and why we celebrate the holiday.

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When is Veterans Day in 2023? When is it observed?

Veterans Day is on Nov. 11 every year, regardless of what day of the week it falls.

However, it falls on a Saturday this year, meaning that federal employees will observe the federal holiday the previous day, on Friday, Nov. 10, and many government services will be closed. Many schools and companies will also be closed Friday in observation of the holiday.

What was Veterans Day originally called?

The Nov. 11 day of remembrance wasn't always known as Veterans Day. It was first known as "Armistice Day," marking the day that fighting ceased in World War I in 1918.

Armistice Day was recognized as an official holiday by Congress in 1938, first used to honor veterans of World War I, according to the U.S. Department of Defense. In 1954, following both World War II and the Korean War, the word "armistice" was changed to "veterans" to honor veterans of all American wars.

The day Veterans Day was celebrated moved a few times over the years, but President Gerald Ford moved it back to its annual observance on the Nov. 11 date by 1978.

Is Veterans Day different from Memorial Day?

Besides being observed in two different months, the set purpose of Veterans Day and Memorial Day is different.

Memorial Day is observed the last Monday of May each year, and is meant to honor all who served and gave their lives for their country. Veterans Day is in November, and honors all veterans, both living and dead, who served in any wars, past or present.