Having been in the military for 9 years, I’ve seen plenty of military members make some foolish money mistakes.
Heck, I’ve been guilty of plenty myself!
I had the privilege of being interviewed by a fellow CFP®, Mary Beth Storjohann, who is also a contributor for Forbes and has a fantastic blog, WorkableWealth.com. As a military spouse she too has seen the struggles that many military members face with their money.
In this podcast we discuss these issues and some of the best ways to overcome them. You can read her write up on Forbes here.
Common Money Mistakes by Military Members
- Where is the biggest lack of education for service members when it comes managing finances?
- What’s the biggest issue you see with service members and debt?
- Having a life in constant transition can make it hard for military families to operate in a two income household. How can having a budget in place help to ease some of the stress that comes with a single-income home?
- What would you say to a service member who wants to purchase a home, but isn’t sure where their orders will take them in the next two years?
- Service members have access to a variety of tax free benefits and opportunities such as BHA. How should they leverage these opportunities?
- What options are available for service members when it comes to saving for today and for the future? Roth TSP, TSP, Roth IRA… which makes the most sense? Won’t the pension cover their income needs?
- What’s the best way to get started in organizing your finances as a service member?