Jimmy Phan—better known as Jimmy Boi, or Jimmy the Jeweler—is paying it forward this year. The Houston jeweler known for his iced-out custom designs for celebs will make one of his pieces a lot more accessible to a deserving couple just in time for Valentine's Day.

Phan, who owns Done Right Jewelers, designed a 2.4-carat diamond engagement ring set in 14-karat white gold—retail value: $10,000—to gift to a U.S. military service person who couldn't otherwise afford their dream proposal.

"Family is the most important thing to me, and weddings are expensive," Phan says. "Our servicemen and women work so hard for all of us to protect our freedom. This is a way I can say 'thank you' and give one military couple a little help starting a family of their own this Valentine's Day."

Phan knows a thing or two about going without. The Houston native grew up in Alief and spent a good portion of his youth on the streets before turning his life around and establishing his luxury business. He's locally known for giving back to causes close to his heart, like his annual "Iced-Out Christmas Giveaway" with more than $10,000 worth of toys, gifts, and food to Houston families in need.

For this contest, you have until Feb. 4 to submit nominations—for yourself or a vet in your life—via email to [email protected]. Any U.S. military person in the country is eligible to win the giveaway; just share your story about that special someone and how the free ring would help you propose this V-Day. Phan will review the entries and choose a winner to be announced the week before Valentine's Day on his Instagram, and he'll custom-size the ring for that couple, too.