Afleveringen
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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.
How to handle debt Where to park my savings? How much am I actually paid? (Be sure to review your annual Personal Statement of Military Compensation) Handling financial conversations with a spouse Is 100% stocks ok? Retirement accounts vs taxable brokerage accounts Balancing saving goals vs enjoying life and travelingLinks mentioned in today's show:
Darren's Facebook page Darren's Facebook group, financial dream to reality Our Rich Journey YouTube Our Rich JourneyBooks mentioned:
Stock Investing for Dummies Personal Finance For Dummies The Essays of Warren Buffet: Lessons for Corporate America Unshakeable by Tony Robbins Psychology of Money by Morgan HouselFor 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.
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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:
The Peter Attia Drive podcast Casper mattresses Vuori shortsKey takeaways:
You have to be intentional about maintaining your health- it doesn't happen without intentional planning (just like growing your money!) Don't live inside the spreadsheet in an attempt to maximize savings and have a perfect budget if you won't even be healthy enough to play with your kids or go on vacation The bedrock of good health is sleep Little habits that you repeat over time build on themselves to make you healthier AND wealthier You can prioritize spending on your wellness and health (good mattresses, gym membership, quality food, good running shoes, etc.) Start working to increase your healthspan- the amount of your lifespan that you're actually healthy Being healthier will enable you to have more energy to excel at work and at home If you've been out of balance, let today be the day to ask for helpFor 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.
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Zijn er afleveringen die ontbreken?
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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.
Live below your means Develop a workable plan Never bear too much or too little risk Invest early and often Diversify Invest with simplicity Use index funds when possible Keep Costs Low Minimize taxes Stay the courseBy 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:
The Little Book of Common Sense Investing by John C. Bogle on Libby App or Amazon Bogleheads.org Bogleheads forums r/bogleheads on reddit Jeremy Schneider's two rules from Personal Finance Club- spend less than you earn & invest the difference International vs US stock performance chart Nectarine's hourly financial advise Military Financial Advisors AssociationFor 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.
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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:
No action is required for the average TSP participant. No need to go change anything based on this new fund option. Lifecycle funds are a very solid option as your begin your journey. And you have plenty of time to research and develop a different strategy if you want before the lifecycle fund starts shifting slowly towards more bonds. If you want to learn more about the TSP, visit militarymoneymanual.com/tsp for our great course! We also give the course away to any E-4 or below. Just e-mail us- [email protected] for the code. The TSP and the L2070 option is still very low cost (0.054%) and a great way to build wealth.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.
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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.
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It's okay to rent on active duty! You don't need to buy a house to build wealth. You can safely ignore the push from VA loan sellers, real estate agents, and mortgage brokers.
In this episode of the MMM podcast, Spencer and Jamie challenge the common belief that buying a house is essential for building wealth, especially for active duty military personnel. We explore why renting might be a smarter financial decision for those who move frequently, and debunk popular myths about homeownership.
We discuss the hidden costs and risks of real estate investment, including unexpected repairs, market fluctuations, and the impact on lifestyle flexibility. The episode also touches on the misconceptions surrounding real estate as a passive income source and the true nature of home equity.
Whether you're an active duty service member considering buying a home or simply curious about alternative wealth-building strategies, this episode offers valuable insights to help you make informed financial decisions. Join us as we examine why renting might be the better option for many and how you can build wealth without relying on real estate.
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.
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Listener Brian joins us today to share how he used annual-fee waived credit cards to save about $6,000 on his honeymoon by saving big on his flights and hotel.
Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course for FREE at militarymoneymanual.com/umc3.
Big take-aways:
If you're expecting a big expense, open a new credit card like we recommend to easily meet your minimum spend requirements for your welcome offer The perfect military travel hacking redemption can be hard to do unless you have a very flexible schedule How to research big redemptions and balance hotels vs flight redemption options including using transferable points to partner airlinesFor 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.
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New officer's guide to personal finance! In this episode, Spencer and Jamie share all the financial advice they'd share with a new officer in their unit. You CAN become rich on active duty as a military officer!
If you're an enlisted servicemember, go check out episode #131 covering all the personal finance advice for an enlisted member.
Topics include:
Career starter loans Tracking your expenses Balancing enjoying your new life with keeping expenses down Buy a car (use the lemon lot to look for a ~$10,000 used car) Focus on easy plans to focus on learning your job and being the best officer you can be. Learning to be an officer and do your job well is your #1 priority for now. Emergency funds Picking the right bank without fees Starting your credit history (pay off your card every month!) Thrift Savings Plan (TSP) Insurance Real estate investing Security and two-factor authenticationTotal stock market index fund options Spencer mentioned:
VTSAX at Vanguard or VTI (ETF version) FZROX at Fidelity SWTSX at Schwab or SCHB (ETF version)Links mentioned:
Military Money Manual: A Practical Guide to Financial Freedom by Spencer Reese Episode 9 on Career Starter Loans Monarch Money YNAB WiseFor 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!
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.
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New enlisted servicemember's guide to personal finance! In this episode, Spencer and Jamie share all the financial advice they'd share with a new enlisted troop in their unit. It is possible to accumulate and save while on active duty as an enlisted service member!
If you're an officer, go check out episode #132 covering all the personal finance advice for a new officer!
Topics include:
Money mindset Banking Tracking spending Debit vs Credit Emergency Fund Keeping up with the Joneses Prioritizing what matters to you Temporary sacrifices bring long-term gain Thrift Savings Plan (TSP) Roth IRAs SGLI and insurance Account security/two-factor authentication Why you shouldn't buy a house while on active dutyFor 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.
Links mentioned in today's show:
The Confident TSP Investing Course (free for E-4 and below- just send us an e-mail for a promo code!) Military Money Manual: A Practical Guide to Financial Freedom by Spencer Reese Monarch Money YNAB WiseOur 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.
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Taxes can be complicated. Military families have a number of unique concerns when thinking about their taxes- which state(s) to file in, how to withhold taxes, how a gig economy or side hustle affects the plan, how to handle rental property, etc.
Today's main points include:
Common tax problems for military families Important tax implications for families with a rental property or side hustle Warning signs when looking at financial advisors Filing in multiple states Filing wholly on your own or wholly through a CPA are not your only optionsFor 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.
Links mentioned in today's show:
PIM Tax Services MFAA- Military Financial Advisors Association Military Tax Experts Alliance MQFP search Nectarine service for financial advisor hourly meeting MilTax via Military One Source Paul Allen on LinkedInOur 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.
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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.
Real-estate returns, disability insurance, time-blocking techniques, and more! Erik Baskin is a Certified Financial Planner (CFP) and Air Force veteran. He's a fee-only, fiduciary financial planner and entrepreneur. Main points: Separating from the military and lessons learned during the transition Military veteran entrepreneurship Knowing if real estate investing is good for you IUL policies- the math doesn't work out Why it's good to invest at all-time highs Holding onto too much cashLinks:
BaskinFP.com https://www.baskinfp.com/ BLUFfinance Podcast https://www.baskinfp.com/podcast Personal Finance Club Detailed Review of IUL Math https://www.personalfinanceclub.com/is-iul-a-scam-yes/ Just Keep Buying book by Nick Maggiulli https://www.amazon.com/Just-Keep-Buying-Proven-wealth/dp/0857199250 Erik Baskin on LinkedIn https://www.linkedin.com/in/erikbaskin/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.
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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.
Confused about continuation pay? Join the club. Unfortunately, too many servicemembers and their leaders are confused about the continuation pay benefit in the BRS. In today's episode with Brandon Lovingier, ChFC®, MQFP® aka The Enlisted Money Guy™, we share all you need to know to understand the benefit.
For active duty, it's currently:
2.5 times your monthly base pay in either a lump sum or up to 4 equal, annual payments.For example, a monthly base pay of $4,252 x 2.5 = $10,630 bonus or $8,684 monthly base pay x 2.5 = $21,710 bonus (pre-tax)
Other important points from the episode:
When am I eligible for continuation pay? Does it come automatically? Does the program vary by service? How does the payment come to me? Does it reduce my pension? What is the service commitment after taking the bonus? Does it impact my eligibility for other bonuses like a re-enlistment bonus or aviation bonus?Links discussed:
EnlistedMoney.com http://enlistedmoney.com/ Brandon's Continuation Pay article https://enlistedmoney.com/continuation-pay-benefits/ Air Force link (CAC restricted) Financial Readiness flyer on Continuation Pay https://finred.usalearning.gov/assets/downloads/FINRED-ContinuationPay-FS.pdf EnlistedMoneyGuy on Instagram https://www.instagram.com/enlistedmoneyguy/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.
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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! 12% annualized return in my TSP?? Take an inside look at Spencer's actual TSP numbers to show exactly how quickly your account can grow once you start contributing to your TSP and then eventually maxing it out. Spencer and Jamie both got off to a slow start and didn't max out their TSP accounts right away. But now, compounding interest is taking off and the future is looking bright. It's ok to not max it out right away. You don't need to get it right every time, every year. Find a strategy that works, back-test your plan, and contribute automatically. Bottom line- investing in the TSP is a long-term win for you!
PortfolioVisualizer.com https://www.portfoliovisualizer.com/ Compound Interest Calculator on Investor.gov https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator A Random Walk Down Wall Street book https://www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393330338 The Little Book of Common Sense Investing https://www.amazon.com/Little-Book-Common-Sense-Investing/dp/0470102101 The Simple Path to Wealth by J.L. Collins https://jlcollinsnh.com/books/ Personal Finance Club's chart of average stock market returns https://www.personalfinanceclub.com/heres-why-the-sp-500-doesnt-return-10-per-year/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're an E-4 or below, e-mail us at [email protected], and we'll send you a promo code to use for a FREE course.
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.
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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.
You can easily explore flight upgrades on your TDY travel flights. It's 100% legitimate and in line with government regulations and JTR. After using government contract flights and booking on your GTC in DTS, you can check your upgrade options. On this flight, Jamie was able to see United upgrades on an 8-hour flight for only 20,000 United miles or ~$1300 each way. He was able to transfer credit card points instantly to his United account. 40,000 points for round trip, lie-flight, first class experience is a great redemption! You can easily earn well over 40,000 points with the welcome offer of just ONE annual-fee waived credit cards for military servicemembers AND their spouse. Remember, you can EACH get your OWN account and each enjoy the benefits.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.
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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.
Finance advise doesn't have to be confusing and depressing. Most of the "financial advisors" are actual salesmen. (Check out the 4 types of financial advisors.) So how does a military family find good help? Well Jeremy Schneider of Personal Finance Club (@personalfinanceclub on Instagram), Shane, and Vivi, the minds behind Personal Finance Club, have a new product called Nectarine. Nectarine provides one hour, no strings attached appointments with advisors for a flat fee- no subscription costs or recurring charges. You can book one hour and stop, or schedule more time. And one of our favorite parts about it- they even have a military filter to help you find an advisor that understands the unique challenges of military life. At certain times in your life, getting some professional help could literally change the trajectory of your life. The 2 Rules of Jeremy's Personal Finance Club: Spend less than you make Invest early and often (This is not an ad or paid episode- we're just fans of what the Nectarine team is doing.)Links:
helloNectarine.com Nectarine on Instagram Personal Finance Club on Instagram
Our podcast episode #57 where we talked with Jeremy Schneider Military Financial Advisors Association (MFAA) Our podcast episode with Sean Gillespie about MFAA Personal Finance Club's courses (use code "militarymoney" for $20 off!) - How to Money Like a Millionaire - Build Wealth by Investing in Index FundsOur 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.
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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.
How to maximize your GI Bill, save using 529 accounts, and explore the Yellow Ribbon program? Kate Horrell tells us all about it in this episode where we discuss: 529s are more flexible than most people realize (transfer to other family member, transfer $35,000 to a Roth IRA, other uses than just college) Scholarship awards allow you to take money out of the 529 (up to the amount of the scholarship) No one's ever been mad about having too much money saved in a 529 In general, you can buy into a 529 from any state (doesn't have to be your state of legal residence or where you child may go to college one day) 529 Prepaid Plans are also available but not as good of a fit for most families When might you have "enough" saved for college? Yellow Ribbon program only applies to a semester where you're using GI Bill benefits. You can't use Yellow Ribbon benefits without using the GI Bill. Remember, you can't be great at the big financial decisions like college if you've never done it before. Ways to prepare for college decisions: Transfer your GI bill as soon as you can Evaluate which benefits are tied to an individual and which can be transferred around Look for scholarships Consider a 529 for your children after your basic needs are met Research Yellow Ribbon program options Consider working with Kate for 1-on-1 coaching the maximize your college options Links: KateHorrell.com Kate's Military Family's Confidently Prepared Life Binder Yellow Ribbon program Find a participating school for Yellow Ribbon program Coaching with Kate HorrellOur 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.
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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.
Military families can earn 1 million points without annual fees?! You're not going to earn a lot of points from spending. You need to focus on earning welcome bonuses. We'll teach out how in the free Ultimate Military Credit Cards course.
Main points today: How to earn 1,000,000 credit card points without annual fees 1. Greatest bang for your buck comes from welcome bonuses 2. Referral bonuses 3. Spending category maximazation Value of 1 million points: $10,000 minimum, $11,000 cashout value, or $20,000+ when you transfer to a travel partner. Ways to maximize your points earning: 1. Use welcome bonuses more than spending for points 2. Use transferable points (like American Express) more than specific airline or hotel cards 3. Earn towards a specific redemption goal For example, if a business card offers $750 back after spending $6,000 in 3 months, that's 12.5% effective cash back! Or even better, you can pair with CSR and use at points in travel portal 18% cash back. To take it one step further, you can transfer to Hyatt or United, for example, and earn 2 cents and 25% cash back. Another example: Amex Platinum 150,000 offer, and you spend all $8,000 requirement on airfare. That's 5 pts per dollar (extra 40,000 points), 190,000 points earned for $8,000 spent = 47.5% effective cash back rate! Even an 80,000 point offer after $6,000 spend would be 13% effective rate... way better than the average cash back card. You can refer your spouse or friends (details in episode 26) Keep earning your points easy with 3 simple rules we use- 1. Gold card for dining and groceries 4x (not Platinum's 1 point per dollar) 2. Amex Platinum for flights (5 pts per dollar) 3. Chase Sapphire Reserve for travel and hotels (3 pts per dollar)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.
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An E-4 with over $50,000 in savings in one tour?! Devin is an E-4 in the USMC who shares tips about military life, budgeting, and saving money on social media. He's done a superb job of transparently showing how a young, enlisted servicemember can cut costs and save for their future. He also challenges the mindset that you don't make enough to save anything and shares how he combats peer pressure and how his sidehustle income provided extra savings opportunities. Plus, as a bonus, Devin allowed us to deep-dive into a discussion of why he chose the TSP lifecycle fund he is currently in, and why that might not be the best fund for his situaiton. Follow Devin on: TikTok Instagram YouTube Kdraggerz.com
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 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! Again, free for E-4 and below- just e-mail us at [email protected] if you're an E-4 or below for the 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.
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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.
Highlights of this episode include:
How to ensure spouse feels like they're contributing financially, even as a stay-at-home spouse Setting goals as a spouse Does a stay-at-home spouse need life insurance coverage? Both spouses can contribute to their Roth IRA (if married filing jointly) How are you treating yourself financially? How to resolve differences in financial goals and communicate better as a couple How to move on from financial mistakes How a spouse can take the lead on family finances to help throughout the seasons of military lifeLinks we mentioned today:
Our first epsiode # 55 with Colleen Salchow ACFPE and FINRA scholarship for military spouses to earn AFC 3 things great marriages do with money, episode #107 Salchowcoaching.com Colleen on LinkedInCheck 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're an E-4 or below, e-mail us at [email protected], and we'll send you a promo code to use for a FREE course.
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.
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Want help refining your strategy for military credit cards? 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.
American Express recently updated the requirements for earning a welcome bonus by adding family language restrictions to their cards. Learn all about what a "family" is and how to adjust your strategy for annual-fee waived cards for military servicemembers and their spouse!
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're an E-4 or bleow, 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.
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