By Spencer Reese from MilitaryMoneyManual.com
The podcast currently has 146 episodes available.
How do you finance the life between possible early retirment and 59.5 years old when you can access you retirement accounts? A gap fund is one common approach.
Today we discuss:
For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! Just e-mail us at [email protected] for the free promo code.
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
Dependent care flexible spending account- is it even worth your time? (note: this is different than the HEALTHCARE FSA which was announced in Sept 2024- we have an episode coming out on that in a few weeks)
Open season is coming up in mid-November to mid-December!
For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
We are publishing this episode now so you can think about it and prepare for open enrollment season coming up in mid November!
A Dependent Care Flexible Spending Account (DCFSA) allows up to $5,000 of pre-tax earnings per household, per year for eligible dependent care expenses. If you have dependents, you're married, your spouse is working or going to school, and you have dependent care expenses, the DCFSA may be for you. Highlights of today include:Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
In this mailbag episode, Spencer and Jamie answer various listener questions about investing, credit cards, and military-specific financial topics. They provide insights on compound growth, TSP options, Roth vs. Traditional accounts, credit card strategies, and investment return estimates.
Questions discussed: - Is there a benefit to combining multiple investment accounts? - Should I move out of TSP for lower fee investments? - How do I choose investments for a spouse's 401(k)? - Is contributing 6% to TSP good for an E4? - Are there ways around Amex family restrictions for credit card bonuses? - Are traditional reservists eligible for annual fee waived cards? - What are go-to cards for regular spending while stationed overseas? - How do I get out of Amex pop-up jail? - What happens to fee waivers after separating from active duty? - How should I estimate returns for my investment portfolio?
Resources mentioned: - MLA (Military Lending Act) database - Chase Sapphire Reserve - Amex Platinum, Gold, and Green cards - Hilton Honors Aspire card - Vanguard funds (VTI, VXUS) - TSP funds (C, S, I) - Personal Capital (now Empower) - Kubera.com - Investor.gov compound interest calculator
For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
$85,000 in debt and a brand new truck to a wealthy and generous life?!
In this episode, Air Force officer Garrison shares his financial journey from $85,000 in debt to working towards financial independence. He discusses following Dave Ramsey's Baby Steps, buying a home in the military, running a crash pad rental business, and helping his Airmen with financial education. Spencer and Jamie explore Garrison's experiences with budgeting, investing, and balancing financial goals with personal passions like Disney vacations.
Topics:
Resources mentioned:
For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
The May 2024 Military Family Financial Readiness study from Armed Forces Bank highlighted unique financial challenges military families faces due to the nature of their service. Today, Spencer and Jamie are joined by Tom McLean and Jodi Vickery, hosts of the Militarily Speaking podcast, join us to discuss the financial challenges military families face, identifying good banking product, avoiding predatory "advisors," and common sources of financial information for our military families.
Spoiler alert- the findings aren't really positive. We have so much work to do to continue securing the financial readiness of our troops!
Links mentioned in today's show:
For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
Enlisted Airmen with half a million dollars invested?! Meet Darren Thedieck, US Air Force E-7 who was recently featured by CNBC. and Stripes. We talk very practical tips with Darren about how he learned to save, where he saves, speicific ETFs we like, and handling his family's journey from debt to financial independence.
Links mentioned in today's show:
Books mentioned:
For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
What's the point of building wealth if you're not healthy enough to enjoy it? Today, Spencer and Jamie explore the connection between physical health and financial health. Although this is a slight diversion from our money-focused podcast, we want to encourage you to keep both portions of wellness in balance as you grow towards a wealthy life that you can enjoy.
Links mentioned in today's show:
Key takeaways:
For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
Does a simple Bogleheads style of investing work for military families? YES! The Bogleheads are followers of the philosophy of Vanguard founder John C. "Jack" Bogle.
By the way, you can also recreate a bogleheads' style portfolio in your TSP! We talk about it in the Confident TSP Investing course. Lifecycle funds basically build a simple, 3-fund portofilio for you. Check out the course info below.
Links mentioned in today's show:
For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
The L2070 lifecycle fund is available now in your TSP as of July 2024. If you were born after 2005, this will be your default fund you'll be automatically enrolled to contribute to. This is for those of you who'll reach retirement age around the year 2070 (2068-2072 ish). We discuss what lifecycle funds are, what mix of C/S/I/F/G funds is in the L2070 fund, what actions are required from you to maximize your retirement savings, and how to avoid high-fee investments.
Main take-aways from this great episode:
If you need help, for a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
Dave Ramsey's 7 baby steps have helped millions of families. Do they work for military families?
Today, we discuss each of the 7 baby steps and how they can work for military families. Both Spencer and Jamie started on the Dave Ramsey plan. We highly recommend the Total Money Makeoever book (check your base library- many have it for free), Financial Peace University, and the Ramsey podcast or YouTube.
Military families can get 50% off FPU too!
If you need help, for a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call.
Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!
If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email [email protected].
If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.
I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.
The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.
The podcast currently has 146 episodes available.