Weekend Wrap-up: Military Personal Finance Articles You Should Read (5/20-5/26)

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Enjoy 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. What’s the Next Step to Financial Independence:  In the first of Doug Nordman’s two articles, he answers a retirement question from an interested reader.  Think of this as step-by-step guide for a very commonplace scenario.
  2. Beware of Huge Flaws in the Military Blended Retirement System  In Doug’s second article, he discusses the history of the military’s REDUX program, and compares it to the new ‘blended retirement system,’ due to roll out to the next generation of servicemembers.  If you’re truly interested in learning about why the military is moving towards a ‘blended system’ (and probably beyond it in another 20-30 years), read this in conjunction with my ‘Back to Basics‘ article below.
  3. Put a Price Tag on It:  Financial Planning  JJ Montanaro’s article on the price tag of certain financial goals (college, wedding, retirement, etc.) is an excellent read for those of you trying to put a number on your savings goals.
  4. Financial Counseling for Caregivers  If you’re a caregiver, or if you know one, you’ll want to read this article by Kate Horrell.  This article specifically discusses a new partnership between MOAA, USAA, and the Elizabeth Dole Foundation to connect military caregivers with USAA financial advisers.  Read on for more details.
  5. When There’s No Will, A Probate Court Decides  There have been many personal finance articles since Prince’s death several weeks ago, due to the estate planning (or lack thereof) involved in his situation.  Claire Emory explains how a lack of a proper estate plan can prolong the financial uncertainty in the wake of an unexpected death.

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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