Weekend Wrap-up: Military Personal Finance Articles You Should Read (6/17-6/23)

Enjoy this week’s version of the Weekend Wrap-up! Below are five of the top articles that I’ve read this week.  All of this week’s articles are from our military financial blogger community. So, without further ado, here are this week’s articles:

  1. Managing Your Money in Retirement: This article by Claire Emory helps you to think about what your life might look like after you achieve financial independence.  Whether you reach that goal immediately after leaving active duty or after your post-military career, it’s important to figure out what you should do with your retirement nest egg.  After all, if you spend your entire life building it, doesn’t it make sense to know how to manage it?
  2. How You Can Make Over $100,000 by Skipping Your Morning Coffee:  This article by Jeff Rose goes over some of the math behind the well known ‘latte factor.’  When I first joined the Navy, you used to use a 1-pack a day cigarette habit to draw the same example.  While you can substitute your $3.00 coffee splurge for a pack of cigarettes, daily lunch, or a monthly splurge on clothes, the point is the same.  If you find money-draining habits in your life, and find ways to substitute those for things that have meaning, you’ll be better off in the long run financially.
  3. 5 Ways to Pay For College This USAA article gives you a brief overview of some of the ways you can pay for college, especially if you’re interested in using the post 9/11 GI Bill.
  4. From the Mailbag:  Active Duty Taxes  This Kate Horrell article is a Q&A article from one of the Paycheck Chronicle readers about the impact of state taxes on an active duty member’s tax return.  Read more for more detail.
  5. Clearing Up Common Estate Planning Misconceptions This estate planning article serves to inform you about common estate planning mistakes, issues, and misconceptions.  While the article is tailored towards educating financial planners on how they can engage clients, the points in this article are clear enough for clients to understand for themselves.  Read on to understand more about what you need to know when it comes to estate planning.

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

 

Ten Questions With Rorik Larson

Ten Personal Finance Questions You Should Ask Before Leaving the Military

Five Fundamentals of Fiscal Fitness #5: Invest In Your Career

If I missed an important article, please feel free to post a link in the blog comments.  Also, 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

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.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *