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- Terminal Leave: Take it or Sell it Back?
- Military Pension Tax Rates By State
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Monthly Archives: March 2016
When dealing with money, the most important question is: “How much money do I need to deal with unexpected emergencies?” If you can honestly answer this question and put this amount of money aside to address issues that come up, then the rest of your money should be put to work in low cost, tax-advantaged investments that will grow over time. Continue reading
Cash flow is king, or so the saying goes. Almost everyone that I’ve talked with has stated cash flow as a concern for their post-active duty life. It seems that a lot of these concerns boil down to two questions: Continue reading
Today is March 23, which means that tomorrow (March 24) marks 400 days until my retirement ceremony date of May 1, 2017. The other day, I was talking with Jeff Rose, CFP®. Jeff is the creator of the Good Financial … Continue reading
According to the IRS, 5 million people were expected to file amended tax returns for 2014, out of 131 million original filings. For 2015, the IRS expects over 150 million individual returns, which means even more amended returns can be expected. Continue reading
My first book, Military In Transition’s Guide to the Survivor Benefit Plan, is available for pre-order on and will be available for download on June 30. If you’d like to learn more, please send me an email or join Military … Continue reading
When you make the decision to sell your home, it can be for any number of reasons: relocation, buying a bigger home, downsizing, or because it makes financial sense to do so. In fact, I previously wrote an article about this here. However, there are times in your military career where you just can’t sell your home as soon as you leave it: you’re underwater, you might move back into it later on, it’s got potential to make a lot of money as a rental, or timing issues. From the moment you have a tenant move into your house, it’s no longer your home…it’s a rental property. Whatever the reason for selling your home, let’s take a look at three tax considerations you should take into account: Continue reading
This article was published a couple of months ago online, but I’ve made some changes specifically to point out how estate planning should matter to you throughout your military career. I was recently at a financial planning conference, when I … Continue reading
There are any number of articles out in the web-space about whether you should take terminal leave upon retirement or separation, vice selling back your unused leave. Ryan Guina’s Cash Money Life article is a very good primer on why this should be considered on a case-by-case basis, and why each decision on whether to take terminal leave is a personal one. Continue reading
This is the next article in my ‘Back to Basics’ series. You can read my first article, on compounding interest, here. This article is meant for everyone. If you’re a junior enlisted person or junior officer, please share this with a friend. If you’re a leader of junior troops, feel free to use this article as a set of talking points for your one-on-one sessions. The focus of this article is to protect our junior personnel, many of whom may still be trying to get a handle on the responsibilities that military life hands them after high school or college. Continue reading