The Military Money Manual Podcast

Which is better, lump sum investing or Dollar Cost Averaging? Bottom line, neither is significantly better, although lump sum investing statistically wins slightly. The more important factor in you building wealth is that you invest consistently for the long-term! Missing just the 10 best trading days between 2002-2022 would cut your returns by 50%. Don't play games when you know it's impossible to win. Just keep investing! Links from today's episode: Vanguard white paper on lump sum vs. DCA Military Money Manual blog post on this topic How to Time the Market World's Worst Market Timer (only investing at the peak) For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

Better every day. That's the goal. Not perfection. What skill have you ever learned that you were perfect at right from the start? Then why are you so hard on yourself when your financial journey isn't perfectly smooth and easy? Each positive decision you make, each money conversation you have with your spouse is like a good set at the gym. Not every rep is perfect, so you keep working on it. This week, we're talking mindset shifts to help you think of one way you can PRACTICE this week with: Spending intentionally Communication Overcoming exessive frugality & moving on from seasons of aggressive saving Money management is a skill that improves with practice. You'll get better with each rep. Don't expect perfect from you every day (or from your spouse!). What decision today could be one rep? For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

"Reading changed my life!" Today's key topics include: VA House Hacking as a young officer, military influencer and off duty employment in the Air Force, personal finance for military women, and self improvement for new officers and cadets. As a young officer, Lanae is debt free except her mortgage, owns a home using her VA loan, has a very high savings rate, and helps spread awareness about how women can improve their knowledge and personal finance situation. Links: Lanae's Instagram @lanaeslife1 Spencer's article about the VA Loan Our VA loan podcast episode w/ Rich Carey Our VA Loan- Everything you Need to Know podcast episode See Important Disclaimer for Department of the Air Force Influencers Lanae is a Force Support Officer stationed in Colorado. She earned her commission through the ROTC program at Ohio University and received her Bachelor's of Science degree in Communication Studies 2022. She became a home owner and debt free at 23 years old and loves to read, travel, be outdoors, and is passionate about personal finance education for women. For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

30%-40% international funds in your portfolio!? What is home-country bias and why you may want exposure to markets other than just the US stock market. Links: https://www.baskinfp.com/ Military Tax Experts Alliance Vanguard article on international investments "U.S. stocks are unlikely to repeat their past outperformance over the coming decade" - Vanguard Spencer's personal assett allocation For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

Entreprenuership, Guard benefits, TSP while deployed, and more! Topics from today: Starting TheMilitaryWallet.com Joining the Guard after 8 years Why he joined the Guard VA disability Guard pay, healthcare, and retirement differences Transition Assistance Medical Program (TAMP) TSP contributions in a combat zone Annual additons limit Ryan's personal considerations for whether to continue serving past 20 years Ryan Guina is The Military Wallet's founder. He is a writer, small business owner, and entrepreneur. He served over six years on active duty in the USAF and is a current member of the Tennessee Air National Guard. Ryan started The Military Wallet in 2007 after separating from active duty military service and has been writing about financial, small business, and military benefits topics since then. For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

64% of veterans will leave initial first post-military job in the first two years! Repeat guest Kate Horrell joins us again to discuss her thought-provoking post on this topic. Of course there are always outliers and unique circumstances, but in genral we hope this conversation helps you slow down and question the pressure to "stabilize" and find your "perfect, dream home" immediatley after you leave active duty. Main reasons to consider renting for 1 or 2 more years include: Employment instability Effect of stress on decision-making Financial upheaval and the unknowns Links we mentioned: Kate's article "Don't buy a house when leaving active duty" The Syracuse University study KateHorrell.com Kate's Military Family's Confidently Prepared™ Life Binder Kate's Red Cross notification checklist for your family Kate's new book on the GI Bill (coming ~4/15/25) Kate Horrell is an Accredited Financial Counselor®, Chartered Financial Consultant®, and Military Qualified Financial Planner®. She's also the spouse of a retired sailor and mom of four young adults. She writes about the financial issues that affect military families - pay, allowances, and benefits. Plus college stuff, landlording, moving, taxes. We cover a little bit of everything. Her goal is to give you the tools to make the best decisions right now, so you'll be confidently prepared for whatever comes next - whether that's a PCS move, transition to civilian life, or retirement. For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

As an optimzer, Jamie was concerned about how to perfect his family's GI Bill strategy. In the middle of a discussion (after we wrapped up last week's podcast recording with Daniel), we hit record for this non-standard format. As Jamie allows himself to be vulnerable and curious about the words he used, Daniel is able to help him work through some anxiety and negative feelings. You'll also hear some tactical advice for using and sharing the GI Bill. Links we mentioned: Financial Therapy certificate Daniel and Spencer both earned through Kansas State Wise Stewardship Financial Planning Daniel Kopp is a fee-only, fiduciary financial planner and founder of Wise Stewardship Financial Planning where he helps young widows and widowers as well as servicemembers get their financial lives in order by aligning their money with their values. He is also an Air Force veteran after almost 9 years as an officer on active duty during which he served as an Air Battle Manager participating in combat deployments and training opportunities all across the world. Outside of his official military commitments, Daniel has always had a passion to help servicemembers and their families master their finances where he served as a volunteer financial counselor during most of his time on active duty. For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

How to teach your military kids about healthy and positive money habits, set expectations for college, use the GI Bill, and leverage 529s and other investment accounts for your military family. With today's guest, Daniel Kopp, we discussed: Teaching kids spending, saving, and giving buckets Teach, demo, supervise with your kids Give them chances to fail Wants vs. needs & delayed gratification Don't make money a big secret- talk about it Evolving the lessons you teach your kids as they age 529s, UTMAs, taxable brokerage accounts, and life insurance Tax efficient gifting strategies FAFSA for military families VA chapter 35 Prepaid college The "College Pre-Approval Process" How to avoid overpaying for college Links we mentioned: Money Scripts episode w/ Daniel Kopp (episode # 82) Cybersecurity 101 podcast episode (#157) Military Financial Advisors Assocation (MFAA) FDIC's Money Smart Catalog CFPB's Money As You Grow program NCUA Games U.S. Mint free games and activities for children Military to Financial Planner podcast Wise Stewardship Financial Planning Daniel Kopp is a fee-only, fiduciary financial planner and founder of Wise Stewardship Financial Planning where he helps young widows and widowers as well as servicemembers get their financial lives in order by aligning their money with their values. He is also an Air Force veteran after almost 9 years as an officer on active duty during which he served as an Air Battle Manager participating in combat deployments and training opportunities all across the world. Outside of his official military commitments, Daniel has always had a passion to help servicemembers and their families master their finances where he served as a volunteer financial counselor during most of his time on active duty. Books mentioned in this episode: Raising your Money-Savvy Family for Next Generation Financial Independence by Carol Pittner and Doug Nordman How to Pay for College by Ann Garcia The Missing Billionaires by Victor Haghani & James White The Price You Pay for College by Ron Lieber The Opposite of Spoiled by Ron Lieber Smart Money Smart Kids by Dave Ramsey and Rachel Cruze Four Money Bears by Mac Gardner For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

Making your money more focused on your future expenses, goals, and desires. We were inspired by the updates to the YNAB method to share these powerful questions and help your family become more intentional and proactive. Main themes from today's episode: Use these 5 questions to give every dollar a job for what matters to you What to do when you feel like everyone is coming for your hard-earned dollars Building a system so you can thrive Choosing whether to spend a hard-earned dollar now or put it to work with a productive asset 5 questions to ask: What does this money need to do before I'm paid again? What larger, less frequent spending do I need to prepare for? What can I set aside for next month's spending? What goals, large or small, do I want to prioritize? What changes do I need to make, if any? Links we mentioned today: YNAB (military discount) The updated YNAB method (no more 4 rules) Episode 58 w/ Jesse Mecham, founder of YNAB Kate Horrell's military pay day calendar Personal Finance Club's two variables- income and expenses Monarch Money (military discount) For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.

"What's the mission for this money?" "Wealth is what you DON'T see." "Go find something you're really excited about." "Contributions, Conversion, Characterization." "It's OK to follow your curiosity!" This episode is full of gems of wisdom from ALF. Some major questions include: Do political changes adjust my investing strategy? How do I fight against the pull to get a car that's more expensive? What's a backdoor Roth IRA? Who needs to do it? Is there an income limit for Roth TSP contributions? Do I need to make quarterly estimated tax payments? Any advice for career changes after the military? How do I find a fulfilling career after the military? Links we mentioned today: MQFP (Military Qualified Financial Planner) MilMoneyCon (next event is May 15-17, 2025 in San Antonio) Our previous episode w/ ALF on Survivor Benefit Program (#89) Erik Baskin's newsletter Personal Finance Club post about performance during Presidents Daniel Kopp's Military to Financial Planner podcast Military Financial Advisors Assocation (MFAA) Winged Wealth blog post on Risk Brian O'Neill on LinkedIn WingedWealth.com For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE! If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.