In this episode, Mike and Amy discuss military transition support with Alan Nelson, a retired Navy commander and financial planner. Alan shares his personal transition journey, the challenges faced, and the importance of financial planning for transitioning military members. He highlights key organizations that provide resources and support, the significance of networking, and common financial blind spots that veterans encounter. The conversation emphasizes the need for action, the importance of involving family in the transition process, and the value of seeking help from others.

Chapters

00:00 Navigating Military Transition: Alan's Journey

06:41 Resources for Transitioning Veterans

16:34 Blind Spots in Financial Planning

23:11 Common Mistakes During Transition

32:52 Key Takeaways for a Successful Transition

Takeaways

• Transition is tough for everybody, whether separating or retiring.

• Networking is crucial for finding opportunities during transition.

• Budgeting is essential to understand financial needs post-transition.

• Establishing an emergency fund is vital for financial security.

• Life insurance considerations are often overlooked during transition.

• Evaluating total compensation from potential employers is important.

• Military spouses face unique challenges in the transition process.

• Mock interviews can significantly improve job prospects.

• Asking for help is a common mistake veterans make during transition.

• Taking consistent action is key to a successful transition.

Alan’s information:

https://www.linkedin.com/in/alan-nelson/

https://measuredmoneymaneuvers.com/(Free career transition and Financial Fitness Friday slide decks and link torecordings are on the Resources -> Education page)

Alan’s 3-page list of transition / retirement resources

https://operationretirementreadiness.com/wp-content/uploads/2025/11/Transitioning-Military-Resources-Operation-Retirement-Readiness.pdf

Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

Alan’s information:

https://www.linkedin.com/in/alan-nelson/

https://measuredmoneymaneuvers.com/ (Free career transition and Financial Fitness Friday slide decks and link to recordings are on the Resources -> Education page)

Alan’s 3-page list of transition / retirement resources

https://operationretirementreadiness.com/wp-content/uploads/2025/11/Transitioning-Military-Resources-Operation-Retirement-Readiness.pdf

This conversation delves into the significant changes brought about by the One Big Beautiful Bill Act, particularly focusing on student loans, FAFSA, Pell Grants, and the implications for families planning for college. Mike Hunsberger, a subject matter expert, provides insights into the complexities of the new legislation, including changes to repayment plans, borrowing limits, and the impact on families with existing loans. The discussion emphasizes the importance of understanding these changes and being proactive in financial planning for education.

Chapters

00:00 Introduction to Student Loan Changes

03:37 Historical Context of Student Loan Repayment

06:31 FAFSA Changes and Implications

09:30 Pell Grant Provisions and Accessibility

12:36 Direct Student Loans: What Remains the Same

15:26 Graduate School Loan Changes

18:25 Parent Plus Loan Adjustments

21:18 Impact on Family Financial Planning

24:35 Repayment Plan Changes for Existing Borrowers

27:18 Navigating Parent PLUS Loans and Repayment Plans

33:52 Expanding Opportunities with 529 Plans

38:14 College Planning for Military Families

44:35 Strategies for Families Facing Student Loan Changes

Takeaways

• The One Big Beautiful Bill Act has introduced major changes to student loans.

• FAFSA has undergone revisions that affect small business owners.

• Pell Grants are now more accessible for shorter-term education programs.

• Direct student loan borrowing limits remain unchanged for undergraduates.

• Graduate school borrowing limits have been capped significantly.

• Parent Plus loans will now have annual and total borrowing caps.

• Existing borrowers need to be aware of new repayment plan options.

• The new repayment plans may extend payment periods to 30 years.

• 529 plans have expanded usage for educational expenses.

• Families must be proactive in understanding their financial options for education.

Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

In this conversation, Jeremy Vidmar, an insurance broker, discusses the various insurance options available to military service members transitioning to civilian life. He emphasizes the importance of understanding life insurance, disability insurance, and long-term care insurance, while also addressing the underwriting process and the need for personalized insurance planning. The discussion highlights the unique challenges faced by veterans in navigating these insurance products and the importance of seeking professional guidance.

Chapters

00:00 Introduction to Insurance for Service Members

04:50 Understanding Life Insurance Types

07:47 Navigating Permanent Life Insurance Advertisements

10:38 Determining Insurance Needs

16:58 Integrating Life Insurance with Survivor Benefits

21:44 Exploring Permanent Insurance and Annuities

26:20 The Importance of Disability Insurance

27:18 Types of Disability Insurance Explained

31:43 Understanding the Underwriting Process

43:42 Long-Term Care Insurance Considerations

Takeaways

• Insurance is a crucial consideration for transitioning military members.

• There are two main types of life insurance: term and permanent.

• Permanent insurance can be complex and often misrepresented in advertisements.

• Determining how much insurance one needs involves both empirical and emotional factors.

• Integrating life insurance with survivor benefits can be beneficial for retirees.

• Disability insurance is often overlooked but essential for income protection.

• The underwriting process is critical in determining insurance eligibility and rates.

• Long-term care insurance is an important consideration for future planning.

• Understanding the nuances of different insurance products is vital for informed decisions.

• Professional guidance can help navigate the complexities of insurance options. 

Contact Jeremy Vidmar, FIC®, CLTC®: https://www.e4.insurance/ or [email protected]

Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

In this conversation, Brian Willingham, an expert in VA home loans and Streamline refinancing, discusses the benefits and intricacies of VA loans compared to conventional and FHA loans. He emphasizes the importance of working with knowledgeable lenders, understanding the VA funding fee, and navigating the transition from military to civilian life when purchasing a home. The discussion also covers VA loan limits, the Streamline refinancing process, and the potential costs involved, providing valuable insights for veterans and service members looking to utilize their VA benefits effectively.

Chapters

00:00 Introduction to VA Mortgages and Streamline Refinancing

02:52 Understanding VA Loans vs. Conventional and FHA Loans

05:49 Choosing the Right Lender for VA Loans

08:57 The Role of Mortgage Brokers vs. Banks

12:57 Explaining the VA Funding Fee

14:57 Navigating Disability Ratings and Funding Fee Refunds

19:23 Challenges of Buying a Home During Transition

23:24 VA Loan Limits and Entitlement Explained

27:38 Streamline Refinancing: The VA Earl Process

30:32 Cost Considerations for Streamline Refinancing

35:06 Due Diligence in Refinancing Decisions

38:54 Final Thoughts on VA Loans and Choosing a Lender

41:13 ORR-Outro-MikeFirst.mp4

Takeaways

• VA loans typically require no down payment and no mortgage insurance.

• Choosing a lender experienced with VA loans is crucial for success.

• The VA funding fee can be waived for certain veterans.

• Streamline refinancing is a quick and easy process for existing VA loan holders.

• Understanding your entitlement is key to maximizing VA loan benefits.

• VA loans have no maximum loan amount for first-time users.

• Interest rates for VA loans are generally better than conventional loans.

• It's important to evaluate the total costs when refinancing.

• Communication with lenders should start early in the transition process.

• Veterans should ensure they are working with knowledgeable professionals to leverage their benefits.

Links

Brian Willingham - https://mission.mortgage/

Payment Calculator - https://whatsmypayment.com/va-entitlement-calculator/Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

Summary

In this conversation, Mike Hunsberger and Amy discuss college finances specifically for military families with expert Kate Horrell. They explore the intricacies of the GI Bill, the importance of financial fit in college planning, and the role of school certifying officials. The discussion also covers the Yellow Ribbon Program, maximizing financial aid, and the impact of student loans. Through case studies, they illustrate how strategic use of benefits can lead to significant savings, emphasizing the importance of engaging students in the financial planning process.

Chapters

00:00 Introduction to College Finances for Military Families

04:53 Understanding Financial Fit in College Planning

08:05 Navigating the GI Bill Process

10:41 The Role of School Certifying Officials

13:48 Exploring the Yellow Ribbon Program

25:59 Maximizing Financial Aid and Scholarships

31:03 Strategic Loan Management for College Funding

33:28 Understanding the Long-Term Impact of Student Loans

36:04 Evaluating Loan Affordability and Financial Planning

37:56 Leveraging the GI Bill for In-State Tuition Benefits

45:13 Case Study: Optimizing GI Bill Benefits for Twins

51:38 Engaging Students in Financial Planning for College

Takeaways

• Understanding the GI Bill is crucial for military families.

• Financial fit is essential in the college planning process.

• The role of school certifying officials is often underutilized.

• Yellow Ribbon Program can significantly reduce tuition costs.

• Maximizing scholarships can alleviate financial burdens.

• Student loans should be approached with caution and understanding.

• Strategic use of GI Bill benefits can save families thousands.

• In-state tuition benefits can be a game changer for military families.

• Engaging students in the financial planning process is beneficial.

• Planning ahead is key to successful college financing.

  
  

Kate's Book:

https://www.amazon.com/College-Finances-Military-Families-Confidently/dp/B0F9NDL54P

Kate's Website:

https://www.katehorrell.com/

Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

Hi Viewers, this is a quick update on the summer schedule. We will repost some old podcasts, but please check back in for new episodes in September.

Have a fun and safe summer!

Summary

In this conversation, Amy and Mike address questions from their audience regarding financial planning for individuals in their 60s, 70s, and 80s. They discuss the importance of creating a drawdown strategy in retirement, the impact of marital status changes on financial planning, and the critical aspects of estate planning for seniors. The conversation emphasizes the need for updated financial plans, tax implications, and the significance of open discussions with family about estate wishes.

Chapters

00:00 Navigating Retirement Transitions

01:45 Creating a Drawdown Strategy

12:09 Adapting to Marital Changes

16:15 Estate Planning Essentials for Seniors

Takeaways

• Creating a drawdown strategy is essential for retirement income.
• Social security and pensions often form the foundation of retirement spending.
• Decumulation strategies are more complex than accumulation strategies.
• It's important to spend early in retirement to enjoy life.
• Changes in marital status require an updated financial plan.
• Estate planning is crucial as one ages, especially in their 70s.
• Open discussions with family about estate wishes can prevent conflicts.
• Waiting to update financial documents can be risky as one ages.
• Tax implications change with marital status and should be considered.
• Having trusted advisors is important for making sound financial decisions.

Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

Summary

In this conversation, Mike and Amy discuss the importance of college savings, particularly through 529 plans. They explore various aspects of education funding, including the impact of student loans, how to determine the right amount to save, the tax advantages of 529 accounts, and what expenses can be covered. They also address concerns about what happens to 529 funds if a child does not attend college, the role of grandparents in contributing to these plans, and how to choose the right 529 plan for individual needs.

Takeaways

• College savings is a significant financial goal for families.
• Starting to save early is crucial for education funding.
• 529 accounts offer tax-free growth for education expenses.
• Qualified expenses for 529 withdrawals include tuition, room, and board.
• Unused 529 funds can be transferred to other family members.
• Grandparents can contribute to 529 plans without affecting financial aid.
• Choosing the right 529 plan involves comparing fees and investment options.
• State tax advantages can influence the choice of a 529 plan.
• Understanding the rules around 529 withdrawals is essential for maximizing benefits.
• It's important to stay informed about changes in education funding policies.

Chapters

00:00 Introduction to College Savings and 529 Plans

03:13 Understanding Student Loans and Their Impact

06:13 Determining the Right Amount to Save for Education

09:18 Tax Advantages of 529 Plans

12:32 Qualified Expenses Covered by 529 Plans

15:15 Options for Unused 529 Funds

18:25 Contributions from Grandparents and Other Relatives

21:20 Choosing the Right 529 Plan

Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

Summary

In this podcast episode, Mike Hunsberger and Amy discuss the unique aspects of retirement planning for military retirees, focusing on the importance of understanding pensions, social security timing, and investment strategies. They emphasize the need for a thoughtful approach to financial planning that allows for a fulfilling lifestyle post-retirement, while also addressing end-of-life expenses. The conversation highlights how military retirees can enjoy greater financial security and flexibility compared to their civilian counterparts.

Chapters

00:00 Understanding Military Retirement Planning

03:34 The Importance of Social Security Timing

06:08 Investment Strategies for Retirement

09:34 Designing a Fulfilling Post-Retirement Life

12:32 Financial Security and Lifestyle Choices

15:08 Planning for the Future: A Roadmap to Retirement

Takeaways

• Military retirement planning is unique due to pensions.

• Social security timing is crucial for maximizing benefits.

• Investment strategies should consider long-term growth.

• Retirement lifestyle can be designed around personal goals.

• Income security allows for more spending freedom in retirement.

• Planning for end-of-life expenses is essential.

• Military retirees often have more financial options.

• Understanding your numbers is key to effective planning.

• A fulfilling post-retirement life requires thoughtful design.

• Financial planning can help achieve desired retirement outcomes.

  
  

Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

Summary - 

This conversation delves into the VA Home Loan Guarantee, a significant benefit for veterans and active military members. Mike and Amy discuss the eligibility criteria, application process, advantages, and costs associated with VA loans, including the funding fee. They also explore the challenges faced by service members transitioning to civilian life and the importance of demonstrating stable income. Additionally, they cover refinancing options and the unique feature of VA loans being assumable, which can enhance the attractiveness of a property in a competitive market.

Takeaways - 

• The VA Home Loan Benefit helps veterans and active duty service members become homeowners.

• Eligibility for VA loans is based on service history and duty status.

• VA loans offer no down payment, better interest rates, and no PMI.

• The funding fee is a one-time payment that helps lower program costs.

• Certain individuals may qualify for a waiver of the VA funding fee.

• Demonstrating stable income is crucial when transitioning to home ownership.

• There are two types of refinancing options available for VA loans.

• VA loans are assumable, making them attractive to potential buyers.

• Understanding the ins and outs of VA loans can ease the home buying process.

• It's important to consider the timing of refinancing to avoid unnecessary fees.

Chapters - 

00:00 Understanding the VA Home Loan Guarantee

06:27 Eligibility and Application Process

12:21 Advantages and Costs of VA Loans

18:17 Refinancing VA Loans and Assumability

21:28 ORR-Outro-MikeFirst.mp4

Operation Retirement Readiness:  www.operationretirementreadiness.com

Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   

Schedule a consultation with Amy: https://www.instarfp.com/contact

Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.