Author Archives: Forrest Baumhover

About Forrest Baumhover

I'm a career naval officer, and a fee-only financial planner. Half-way through my career, I discovered that I had a passion for financial planning, and have pursued this as my second career. My specialty is working with military professionals who are looking to separate or retire from the service, and who feel they need some professional guidance to make sure they're on track.

Five Little-Known Services Your Financial Planner Should Be Offering

The financial planning landscape can be pretty confusing.  Not only is it difficult to figure out who has your best interests in mind (as the debate over the fiduciary standard is pretty confusing), but it’s also difficult to figure out … Continue reading

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Roth Conversion of a TSP Account: A Case Study

I’ve written several articles about Roth conversions, particularly tax planning considerations & marginal tax rate impacts.  This article serves as a case study to help visualize how a Roth conversion strategy could work, and how the tax liability can fluctuate … Continue reading

Posted in Retirement Planning, Taxes | Leave a comment

Transitional Compensation for Abused Dependents

I recently received a question regarding the taxation transitional compensation for abused dependents.  In researching my answer, I noticed that there is a lot of information on the subject.  However, most of this information seems to be in the form … Continue reading

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Back to Basics: Why a HELOC Does Not Equal Liquidity

Most financial planners and counselors advise their clients to maintain emergency savings of somewhere between 3 & 6 months’ living expenses.  As I’ve mentioned in a previous article, saving 3-6 months’ expenses sounds so daunting that many people don’t know … Continue reading

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Back to Basics-What’s Your Marginal Tax Rate?

Tax planning is one of the most fundamental aspects of financial planning.  In fact, many people would argue that financial planning without respect to taxes is not really financial planning.  Yet, in order to fully understand how tax planning works, … Continue reading

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What’s Your Value Proposition?

As servicemembers exit the military, one of the biggest challenges we face is finding post-military employment that is commensurate with what we bring to the table.  Many times, I’ve heard the story of someone who works hard, networks well, and … Continue reading

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Why I Became a Financial Planner

As my financial planning practice grows, I’ve noticed that people are asking me how to become a financial planner.  The other day, I answered an email from someone asking how to become a financial planner.  It was at that point … Continue reading

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Why the ‘You Just Gave Uncle Sam an Interest-Free Loan’ Argument Doesn’t Work For Many Transitioning People

Executive Summary Every year at tax time, you see pundits talk about ‘giving Uncle Sam an interest-free loan.’  While the concept of lowering tax withholdings is sound, there are several problems with its practice.  In this article, we’ll discuss: The … Continue reading

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Homeowner Insurance Regulatory Offices By State

In a previous article, I described my homeowner’s insurance claim process.  In this article, I discussed how difficult it was to understand what I was entitled to under the law.  I was finally able to reach a better understanding once … Continue reading

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12 Lessons Learned From My Homeowner’s Insurance Claim

Executive Summary This story is about my personal experience in dealing with a homeowner insurance claim for a roof replacement.  Although virtually every other home in my neighborhood experienced the same damage (from a freak hailstorm), my insurance claim became … Continue reading

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