Weekend Wrap-up: Military Personal Finance Articles You Should Read (5/13-5/19)

SleepEnjoy this week’s version of the Weekend Wrap-up.  Below are five of the top articles that I’ve read this week.  Some articles are military-specific financial planning articles, while others are meant for a general audience.  So, without further ado, here are this week’s articles:

  1. SBP:  The Biggest Decision of Your Milspouse Life.   The first of two Survivor Benefit Plan articles by Kate Horrell, this article discusses SBP from the spouse’s point of view.  At the end of the day, the right SBP decision is the one that helps your family sleep better at night.
  2. SBP-DIC Offset Rules.  In the second Kate Horrell article, she discusses the Dependency and Indemnity benefits, and how they may offset any SBP benefits you are otherwise entitled to.  Specifically, Kate discusses tax implications, refund of premiums, and the special survivor indemnity allowances (SSIA), which is in effect through September 30, 2017.
  3. Should I use a Financial Planner or the Thrift Savings Plan?  Doug Nordman’s latest post discusses the benefits of the Thrift Savings Plan.  Arguably, if passive investing, such as TSP, consistently outperforms active money managers, then is a financial planner worth the fee they charge?  Well, it depends on whether you’d be better off financially without that planner.  If a financial planner can help you do something you wouldn’t have done on your own (to your benefit), then perhaps they’re worth the fee.
  4. Resource Roundup:  Best Places and Tools for Financial Success.   If you’re determined to find your own resources that will enable you to meet your financial planning needs, this post from XY Planning Network is a good place to start.  From apps to websites to books, you should be able to find some of the tools you may need to begin planning your financial future.
  5. The Death of Prince:  The Stages of Grief for an Estate Planning Attorney.   While most of the world was shocked by Prince’s death, the most shocking part was the revelation that he left behind no will.  Imagine a nine-figure estate, and the most basic estate planning need was left unfilled.  Read more in this article.

Also, if you missed them, you can catch this week’s Military in Transition articles:

As always, this blog serves to answer your questions and address concerns.  If you like this blog, please follow it or forward it on to other people who may benefit.  Also, if you haven’t done so, feel free to join the Military in Transition Facebook Group!


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.
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