While your service branch may automatically enroll you in the BRS to make Thrift Savings Plan (TSP) minimum contributions of 5% in order for you to get the 5% Match, that's about the only part of it that is automatic. Of course you should contribute more than the minimum -- and beyond that, you'll need to ensure you're investing in the right fund in your TSP. What's more is that you'll need to make slight changes each year, each promotion, and each pay raise to stay on track.

Beyond that, there are other things to manage while you're in uniform that can be easily done with just a little knowledge and the calculator app on your Smart Phone. In this episode we discuss when -- and when NOT -- to make Roth contributions to your TSP; we discuss how you can take advantage of deployments to tax-free areas around the world to do "Mega Backdoor Roth Conversions." You'll learn why everyone in uniform will need to learn how to make a Roth Conversion, no matter what, since your 5% Match goes into a Traditional TSP, and can cost you $10,000s in taxes paid later if you don't.

And of course we also talk about how to plan ahead of your 12th year when you are eligible for the Continuation Pay bonus. Failing to plan for either a deployment, home purchase, or tax-deductible investment with your Continuation Pay can cost you anywhere from $1,000 to $10,000 or more in totally avoidable Federal Income Tax on your bonus. Who wants to give away a quarter of their bonus to Uncle Same? No one wants to, and no one should!

If you missed it last week, be sure to go back and listen to Part 1 of our three-part Podcast series on the Blended Retirement System, and then tune in next week for Part 3!

Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE!

Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

This week we talk RETIREMENT and the Blended Retirement System (BRS). While saving for a car is a $10,000 goal and saving to buy a house with the VA Loan could require $25,000 in savings, retirement is going to require that you're a multi-millionaire. That's right, by the time you hit your 50s, 60s, 70s, and beyond, you're going to need at least $200,000 a year in income to retire. That means you're going to need at least $2.5 million in savings.

But there is a better way. When you factor in the new military BRS that combines a pension with the TSP, you can so way better -- but only if you understand the system and how to maximize your benefits.

Join us this week in the first of a three-part series on the Service and Wealth Podcast that breaks down what retirement is and how to piece together the puzzle of saving, investing, tax-planning, retiring, and withdrawing money over the years to not just survive, but thrive in retirement. In this week's kick-off episode, you'll learn:

Get out your green notebook and an ink stick, and get ready to take notes! Then set your calendar reminder for next week, Sunday 22nd, when we drop Part 2 of the BRS Series!

Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE!

Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

The way we think and feel about money, from unhealthy obsession to constant worry to total avoidance, is rooted in the experiences we had growing up, and the lessons we learned from others. The Military Wealth Coach is no different, and all of the invaluable insights and awesome tactics and tips we share on our channel have their base in my past.

This week Coach Ted gets the opportunity to share his Money Story so you can get a behind-the-scenes look at why our lessons and strategies focus where they do. From avoiding crippling debt to adding side hustles, from controlling expenses to investing in income-paying assets, from "buy-and-hold" to DIY retirement planning, it all comes from a story of 35 years of Ws and Ls. The Military Wealth Coach is a product of book smarts and street smarts, huge paydays and being totally broke.

So this week listen up -- and leave your green notebooks and ink sticks in your desk. This is an opportunity to tell a story and connect with our audience: we've all gone through the same challenges, ups and downs, and "life lessons." Hear Coach Ted's today.

Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE!

Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

The military loves to gloss over the important things when it comes to pay and benefits, especially when it affects your bottom line. Indeed it goes beyond that and makes it more difficult to opt-in or opt-out for programs that are in your best interest, while automatically putting you in or out based on what's best for the government. (Hint: if the government makes it hard to get out of something, you probably should get out!)

The Survivor's Benefit Program (SBP) is no different. In this week's episode we talk about what the actual benefit of participating in the SBP is in dollar terms, and compare that to how much it will cost you in premiums. In most cases it turns out you'll barely break even, and in many cases can lose tens of thousands of dollars with SBP.

But in true Military Wealth Coach fashion we take it a step further and discuss two options for protecting your family financially and also guaranteeing you profit off the plan. Learn about the value you can get from opting-out of the SBP and investing the savings -- or how much you could potentially gain if you use the SBP savings to buy life insurance. Now we're talking hundreds of thousands of dollars in lifetime value . . .

This show kicks off a month of programs in September dedicated to demystifying military retirement programs and plans, and to giving you the key insights that will help you make decisions on what to do instead to create more wealth for you and your family. Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE!

Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Should you get a college degree while you're in uniform using Tuition Assistance, or wait to use your G.I. Bill after you get out? If you already have a degree, should you use TA to go out and get an MBA or other graduate degree? In America in 2024 it's pretty true that you need college in order to make enough money to get by, and so the assumption is that if some college is good, more is better. But is that really true?

In this week's episode we talk about things to think about when considering getting your first -- or another -- degree while in the military using Tuition Assistance. Learn about the requirements and the payback that comes with using TA. TA doesn't necessarily cover all your costs, so you should expect to pay some money out of pocket, and you also are spending a lot of time and effort. So even with TA, a degree isn't "free."

As it turns out, the reasons and timings for using TA are completely different for enlisted and officer, and we discuss when and how to use TA, if at all, for both. Even more critically, we make the case that if you're enlisted and you want to get a degree, it makes sense to start ASAP during your first enlistment EVEN IF you have to pay for it out of pocket. As it turns out, especially in the military, the Return on Investment (ROI) of a college degree for enlisted personnel is likely the best ROI you'll ever earn on any investment you ever make in your life.

On the other hand, for officers it may be a total waste of time and effort even with TA . . . 

Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Ah, yes, the American Dream: a house in the suburbs, picket fence, and a shiny new car in the driveway. But is it your dream? Clever and aggressive marketing from a young age certainly has convinced you that to be somebody you need to drive a nice car. Yet the reality is that everyone else in the world is so focused on themselves, they don't even care, much less notice, what you drive. In essence, whatever you choose to drive is an expression of your ego . . . to yourself.

And the costs are HUGE. In a typical example for a car-buyer with Good or Very Good credit who is able to qualify for financing of 5-10% interest, over the course of a 60-month loan they will spend 25% more than what they're getting. For example, a $20,000 loan will cost roughly $25,000 -- if you're spending $25,000 for a $20,000 car, are you still getting a good deal? I think not! And add on top of that about 60% decline in the value of the car, and you're leaving $12,000 to disappear in thin air. By including depreciation, that $20,000 car actually costs you $37,000!

In this week's episode we talk about how much cars cost today, what interest rates are, and what are the average monthly payments, as well as insurance and operating costs. You'll learn what the most expensive and the most economical strategies are for buying a car, as well as a few tips and strategies for setting a budget, making an offer, and most importantly what to do with the cash you save when you don't have an auto loan and expensive monthly payments.

While military culture and car culture are deeply embedded within each other, and to be "cool" in the military usually means having the baddest, loudest, or fastest vehicle in the lot, being poor is most definitely not cool. Tune in to this week's episode of Service and Wealth to learn how new cars and auto loans keep -- or make -- you poor, and how you can avoid that trap. 

Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Our 4-part series on investing comes to a close. At this point you are confident enough to start investing, and also have the outlines of a basic strategy to make it easy and worry-free. In this week's episode, you'll learn that there are a few things you need to do to make sure that the computers, banks, and brokerages do what you want them to do with your money.

Investing 401 Managing Your Money talks through the steps to set up automatic investments in your TSP and brokerage, and the different savings plans to use for your cash accounts -- filling your Emergency Savings Fund is a sprint, while bulking up your War Chest is "slow and steady." With the right settings and regular yearly check-ups on your automated investments, you will smartly step out on your mission to build wealth now and become a TSP Millionaire.

But don't worry: just like the rest of the Investing Series, 401 is all about keeping it simple and manageable for the military lifestyle. While you do have to spend a few minutes and set some calendar reminders, so long as you get the settings right the first time, managing your investment accounts will take less time each year than you need to complete your Annual Physical Fitness Test!

So tune in now and learn about simple settings like dividend reinvestments (DRIP), capital gains reinvesting, tax-loss harvesting, self-financing and becoming your own bank -- and as a bonus, learn what to do with your TSP when you separate from the service.

Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

It's time to put it all together and make your first investments: Investing 301 explains how to put the lid on our buy box, and walks us through the process and decisions and mindset for each step of our process. From escaping the quicksand of worthless cash savings accounts to defeating "analysis paralysis" and eventually getting to the point of getting off the sidelines and getting in the game, this episode is all about becoming a real investor.

Investing 101 and 201 gave you your buy box, and now 301 finishes the job by adding in the final two pieces of the puzzle to make investing not just easy, but automatic. All you have to do is make sure your investments "check the boxes" and then lay over the top of it the one single investment measure that has more to do with being profitable and building wealth than any other: the expense ratio.

Join us this week as we take the complexity and second-guessing of investing out of it all together, and explain how the only fund you need in your TSP is the C Fund, and how to "funnel" your non-retirement investments through a simple process that will help you pick the right investments for long-term wealth.

For a limited time, the first 100 subscribers to pre-order our mini-course, "Financial Freedom in the Military" will get FREE access to the course when it launches (coming SOON)!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Investing 201 is the second in a 4-part Podcast series recorded to help you build an investment strategy and portfolio specifically tailored to you, yet still built on core fundamentals. Last week in Investing 101, you learned some basic fundamentals to get started -- which is kind of like knowing just enough to be dangerous. You learned three basic rules to follow for building a "buy box", or strategy for where to invest your money.

In Investing 201 we help you complete the sides to your "buy box" by talking about risk and return, and diversification. Believe it or not, there is an actual minimum return you need to get to accomplish your long-term goals, and a minimum amount of stocks (and maximum amount of bonds) you can hold in a balanced portfolio to get there. You'll learn what that is, and what the tradeoffs are between that mix and a pure stock portfolio.

There's also a lot of misconception about what it means to have a "diversified" portfolio: it's way more than just stocks and bonds. We talk about how to figure in cash into your diversification strategy, and also how true diversification is achieved with alternatives such as real estate. In other words, you'll learn that just buying bonds to "diversify" has more negatives than positives, and what to do to actually reduce risk while boosting returns.

By the end of this episode, you'll have a 4-sided "buy box" and know the fundamentals about returns and diversification to create your strategy. This will prepare you for the next episode, Investing 301, when we discuss how to compare investment choices that fit in your "buy box," so you can pick the one with the best chance to get you to Financial Freedom.

For a limited time, the first 100 subscribers to pre-order our mini-course, "Financial Freedom in the Military" will get FREE access to the course when it launches (coming SOON)!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Before you start investing in the stock market now that you have some cash and your first brokerage account, you need to build a strategy -- and your confidence. So long as you have the right timeframe and mindset, you can trust yourself to make the right investment decisions and start taking action.

Investing 101 is the first in a 4-part Podcast series we're launching to help you build a strategy specifically tailored to you, yet build on core fundamentals. In the first two episodes you'll learn to build a "buy box" that set rules for your portfolio that help you consistently and repeatedly get the returns you need on your investments to keep ahead of inflation and accomplish your wealth goals. In this first episode, you'll build the first three sides to the "buy box":

Inflation, FUD (Fear, Uncertainty, and Doubt), and inconsistency can rob you of profits and destroy your portfolio. Just like marksmanship starts with learning good habits before you even pull the trigger, you'll learn the key fundamentals and good investing habits you need to succeed. More importantly, you'll learn to start training your mindset to think of the "big picture" -- and when you do, you'll have centuries worth of stock market return data giving you the confidence you need to create massive wealth and achieve Financial Freedom in your lifetime.

For a limited time, the first 100 subscribers to pre-order our mini-course, "Financial Freedom in the Military" will get FREE access to the course when it launches (coming in JULY)!!! Sign up here: https://www.militarywealthcoach.com/joinus

For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.