Hi. I’m Forrest Baumhover, and I’m a transitioning military member. My family and I have decided to retire to the Tampa Bay area, wrapping up a 24 year Navy career at the end of my tour at MacDill Air Force Base.
I’m also a fee-only financial planner. I’ve spent the past several years researching the financial services industry, completing the coursework & examinations to become both a Certified Financial Planner (CFP) and an enrolled agent with the IRS. While studying the financial profession, I took a look at the industry and made the personal decision not to affiliate myself with the traditional companies like USAA & First Command, but to see whether there is an audience of people like me, who would rather have something different.
What do I mean by different? I mean several things:
1. Do you have financial concerns that you feel are a little beyond what is provided by your local installation? The Fleet & Family Support Centers, Airmen & Family Readiness Centers, and Army Community Service centers, are all very important activities that help our fellow members get out of financial problems. However, once you’ve established your finances to the point where you’re trying to figure out where to invest money, the military isn’t very good at telling you how to invest outside of TSP.
2. Do you get a creepy vibe when you sit down with someone from First Command, or one of the broker-dealers who tell you the first thing you need to do is to roll over your TSP into a fund that they can manage? If so, do you have a problem finding someone who can give you straight advice without trying to get their fingers into your hard-earned money?
3. Are you really concerned about what your finances are going to look like going forward, especially in that first couple of years after you leave the military?
If so, then you and I have at least one thing in common. Regardless of your background, or whether you’re transitioning from a 30-year career or a 4 year enlistment, I hope this blog resonates with you.
If it does, great! Tell your friends, family, and fellow servicemembers to follow this blog, since it’s here for everyone’s benefit. If there’s a topic you’d like to see covered in the blog, please feel free to send me a note and I’ll write about it.
Please feel free to search my profile. You’ll find that I also write syndicated news articles which you can either read or subscribe to by following me on Facebook, LinkedIn, or Twitter. If you feel like you’ve read enough, but all the reading in the world isn’t going to scratch the itch of sitting down with a financial planner to help you get to where you want to be, then please feel free to check out my firm’s website: www.westchasefinancialplanning.com.
As always, this work only exists to serve its audience. If there’s something you’d like to see, feel free to email me and ask!