If you’re age 50 or over, you are eligible to contribute an additional amount to your Thrift Savings Plan account each year. Even better, the way that these special catch-up contributions work is changing for 2021. Not only can you contribute more, but it’ll be easier. Win-win. What’s A Catch-Up Contribution? There are limits on… | Read More…
How To Pick A Military Retiree Dental Plan
It’s been a few years since military retiree dental switched to the Benefeds/FedVIP program, and people are gradually starting to get used to having to pick a plan. But that doesn’t make it any easier! With so many options, how do you choose? Do you want to go with a program through the Benefeds/FEDVIP program?… | Read More…
When Should A Military Member Hire A Financial Planner?
I’ve been bugging my friend Forrest Baumhover to write this article for a long time. I’m glad he waited until he had the right thoughts in his head, because this is really good stuff. When Kate first asked me to write this article, I have to admit that I took longer than I usually do…. | Read More…
Military Spouses and Drivers Licenses
Note: all information and links about military spouses and driver’s licenses is accurate as of 28 July 2020. However, this is not legal advice. If you’re not sure about the rules in your state, use the links listed below to verify the regulations or check with your base legal office. It’s the big question: do… | Read More…
5 Smart Rules for Your Next Car Buying Adventure
Car buying is hard. Cars are expensive, and there are a bjillion options out there. Plus, most of us don’t have the full price of a car saved up when we need to buy. The whole thing can feel overwhelming, and you’re often rushed. I like to call it an adventure, but let’s be real:… | Read More…
Four Habits To Fix Your Finances
For many families, the “new year” does not start in January, but rather in August or September. With PCS moves and a new school year, late summer is a perfect time to identify goals and develop new habits. Here are some things to consider tackling this month: Review Your Spending Plan, Or Build One Even… | Read More…
From The Mailbag: A CPA Who Doesn’t Get SCRA
There seem to be few things as confusing as state of legal residency as it applies to military service members and their spouses. Even the professionals are often under-informed or confused. As we see in this email I received: Hi, I am a CPA in CA. I have a client in the Marines. His “home… | Read More…
Five Savings Tips To Get Started and Keep Going
That picture? That’s how I want to spend my days: sitting on the beach, in the shade, with a cool drink. One way I’m going to make that happen is by saving money so that I have more financial freedom. Saving isn’t always easy, but it is always easier if you have a plan. Use… | Read More…
Changes to Military Retirement: Legacy vs. BRS
There have been some changes since this post was written. See the most current details at Everything About The Blended Retirement System. The 2016 National Defense Authorization Act (NDAA) contained some significant changes to military retirement. The new system, called the Blended Retirement System (BRS), began on 1 January 2018. Some members who were serving at… | Read More…
From The Mailbag: Term Life Instead of SBP
This post is part of a larger series about the Survivor Benefit Plan. Here’s the complete list of posts. Everything About The Survivor Benefit Plan Understanding the SBP-DIC Offset Life Insurance or SBP? Asking The Right Questions Retiring Military: Should You Choose SBP? 10+ Places To Learn About The Survivor Benefit Plan The Survivor Benefit… | Read More…
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