Weekend Wrap-up: Military Personal Finance Articles You Should Read (11/4-11/10)

I hope you enjoy this Veteran’s Day version of the Weekend Wrap-up! Below are some of the top articles that I’ve read this week, which hail from our military financial blogger community. So, without further ado, here are this week’s articles:

  1. Should You Put Things in Long Term Storage? I’ve never had to place household goods in non-temporary storage.  However, if this is something you’re having to decide upon, you could start by reading this article from Kate Horrell.
  2. Four Crummy Reasons to Take a Pass on the TSP  You might have read plenty of articles that try to convince you to invest in the Thrift Savings Plan.  However, JJ Montanaro’s article discusses some of the excuses he’s heard over the course of his financial planning career.
  3. Test Your Payment Before Your Commit If you’re looking to buy a car, you might want to make sure you can afford it.  In this article, Kate Horrell outlines a plan that can help you ensure you can afford the car payments (and related maintenance, fuel, insurance, and other expenses).  If your car purchase is a significant increase from your current lifestyle, you might want to read this over.
  4. 46,000 Reasons TSP is Better Than a 401(k) Trying to make sense of the costs behind the military’s Thrift Savings Plan?  This GubMints article outlines the difference between TSP & a 401(k).

Also, here are a couple of Veteran’s Day discount resource pages:

  1. 2016 5 Best Veterans Day Deals, Discounts, and Free Meals
  2. 2016 Veterans Day Free Activities, Events, & Attractions

Also, in case you missed it, check out Military Pension Tax Rates By State.  This resource page could be useful for people looking to decide which state to retire to.  Specifically, there are links to each of the state government websites, so you can stay tuned to the latest information on states, their tax treatment of military pensions, and their highest marginal tax rates.

If there’s an article that I missed, please feel free to post a note in the comments section below.  Also, if there’s anything I can help you with, feel free to email me or join the Military In Transition Facebook Group!

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About Forrest Baumhover

Forrest Baumhover is a Certified Financial Planner™ and tax professional. His firm, Westchase Financial Planning, focuses on the unique financial planning needs of servicemembers and families looking to separate or retire from active duty.If you’d like to learn more about Forrest or his services, please check out the About Forrest page at the top of this article.
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