The Military Money Manual Podcast

For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. You can easily explore flight upgrades on your TDY travel flights. It's 100% legitimate and in line with government regulations and JTR. After using government contract flights and booking on your GTC in DTS, you can check your upgrade options.     On this flight, Jamie was able to see United upgrades on an 8-hour flight for only 20,000 United miles or ~$1300 each way. He was able to transfer credit card points instantly to his United account. 40,000 points for round trip, lie-flight, first class experience is a great redemption!     You can easily earn well over 40,000 points with the welcome offer of just ONE annual-fee waived credit cards for military servicemembers AND their spouse. Remember, you can EACH get your OWN account and each enjoy the benefits.  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.

For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. Finance advise doesn't have to be confusing and depressing. Most of the "financial advisors" are actual salesmen. (Check out the 4 types of financial advisors.)   So how does a military family find good help? Well Jeremy Schneider of Personal Finance Club (@personalfinanceclub on Instagram), Shane, and Vivi, the minds behind Personal Finance Club, have a new product called Nectarine.   Nectarine provides one hour, no strings attached appointments with advisors for a flat fee- no subscription costs or recurring charges. You can book one hour and stop, or schedule more time.    And one of our favorite parts about it- they even have a military filter to help you find an advisor that understands the unique challenges of military life.   At certain times in your life, getting some professional help could literally change the trajectory of your life.   The 2 Rules of Jeremy's Personal Finance Club: Spend less than you make Invest early and often (This is not an ad or paid episode- we're just fans of what the Nectarine team is doing.) Links: helloNectarine.com  Nectarine on Instagram  Personal Finance Club on Instagram  Our podcast episode #57 where we talked with Jeremy Schneider  Military Financial Advisors Association (MFAA) Our podcast episode with Sean Gillespie about MFAA Personal Finance Club's courses (use code "militarymoney" for $20 off!)    - How to Money Like a Millionaire    - Build Wealth by Investing in Index Funds 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.

For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. How to maximize your GI Bill, save using 529 accounts, and explore the Yellow Ribbon program? Kate Horrell tells us all about it in this episode where we discuss: 529s are more flexible than most people realize (transfer to other family member, transfer $35,000 to a Roth IRA, other uses than just college) Scholarship awards allow you to take money out of the 529 (up to the amount of the scholarship) No one's ever been mad about having too much money saved in a 529 In general, you can buy into a 529 from any state (doesn't have to be your state of legal residence or where you child may go to college one day) 529 Prepaid Plans are also available but not as good of a fit for most families When might you have "enough" saved for college? Yellow Ribbon program only applies to a semester where you're using GI Bill benefits. You can't use Yellow Ribbon benefits without using the GI Bill. Remember, you can't be great at the big financial decisions like college if you've never done it before.   Ways to prepare for college decisions: Transfer your GI bill as soon as you can Evaluate which benefits are tied to an individual and which can be transferred around Look for scholarships Consider a 529 for your children after your basic needs are met Research Yellow Ribbon program options Consider working with Kate for 1-on-1 coaching the maximize your college options   Links: KateHorrell.com Kate's Military Family's Confidently Prepared Life Binder Yellow Ribbon program Find a participating school for Yellow Ribbon program Coaching with Kate Horrell 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.

For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. Military families can earn 1 million points without annual fees?!   You're not going to earn a lot of points from spending. You need to focus on earning welcome bonuses. We'll teach out how in the free Ultimate Military Credit Cards course.   Main points today: How to earn 1,000,000 credit card points without annual fees    1. Greatest bang for your buck comes from welcome bonuses    2. Referral bonuses    3. Spending category maximazation    Value of 1 million points: $10,000 minimum, $11,000 cashout value, or $20,000+ when you transfer to a travel partner.   Ways to maximize your points earning: 1. Use welcome bonuses more than spending for points 2. Use transferable points (like American Express) more than specific airline or hotel cards 3. Earn towards a specific redemption goal    For example, if a business card offers $750 back after spending $6,000 in 3 months, that's 12.5% effective cash back! Or even better, you can pair with CSR and use at points in travel portal 18% cash back. To take it one step further, you can transfer to Hyatt or United, for example, and earn 2 cents and 25% cash back.   Another example: Amex Platinum 150,000 offer, and you spend all $8,000 requirement on airfare. That's 5 pts per dollar (extra 40,000 points), 190,000 points earned for $8,000 spent = 47.5% effective cash back rate! Even an 80,000 point offer after $6,000 spend would be 13% effective rate... way better than the average cash back card.   You can refer your spouse or friends (details in episode 26)    Keep earning your points easy with 3 simple rules we use-  1. Gold card for dining and groceries 4x (not Platinum's 1 point per dollar) 2. Amex Platinum for flights (5 pts per dollar) 3. Chase Sapphire Reserve for travel and hotels (3 pts per dollar) 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.

An E-4 with over $50,000 in savings in one tour?!   Devin is an E-4 in the USMC who shares tips about military life, budgeting, and saving money on social media. He's done a superb job of transparently showing how a young, enlisted servicemember can cut costs and save for their future. He also challenges the mindset that you don't make enough to save anything and shares how he combats peer pressure and how his sidehustle income provided extra savings opportunities.   Plus, as a bonus, Devin allowed us to deep-dive into a discussion of why he chose the TSP lifecycle fund he is currently in, and why that might not be the best fund for his situaiton.   Follow Devin on: TikTok  Instagram  YouTube  Kdraggerz.com   For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. Our 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! Again, free for E-4 and below- just e-mail us at tsp@militarymoneymanual.com if you're an E-4 or below for the promo code! 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.

For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. Highlights of this episode include: How to ensure spouse feels like they're contributing financially, even as a stay-at-home spouse Setting goals as a spouse Does a stay-at-home spouse need life insurance coverage?  Both spouses can contribute to their Roth IRA (if married filing jointly) How are you treating yourself financially? How to resolve differences in financial goals and communicate better as a couple How to move on from financial mistakes How a spouse can take the lead on family finances to help throughout the seasons of military life Links we mentioned today: Our first epsiode # 55 with Colleen Salchow ACFPE and FINRA scholarship for military spouses to earn AFC  3 things great marriages do with money, episode #107  Salchowcoaching.com Colleen on LinkedIn 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're an E-4 or below, e-mail us at TSP@militarymoneymanual.com, and we'll send you a promo code to use for a FREE course. 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.

Want help refining your strategy for military credit cards? For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. American Express recently updated the requirements for earning a welcome bonus by adding family language restrictions to their cards. Learn all about what a "family" is and how to adjust your strategy for annual-fee waived cards for military servicemembers and their spouse! 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're an E-4 or bleow, e-mail us at tsp@militarymoneymanual.com for the free promo code. 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.

Spouse residency rules can sometimes feel very confusing. But today, Kate Horrell helps understand the rules and requirements regarding which state servicemembers and their spouses can use for tax filing purposes. We cover things like: What is the SCRA? What is the Military Spouse Residency Relief Act? What have the recent laws changed regarding military taxes? How does my home of record impact my state taxes? How do spouses actually have more protection in this area that the servicemember does? How does a servicemember's non-military pay get taxed? The Military Spouse Residency Relief Act (MSRRA) is not a standalone law. It actually updates SCRA. The SCRA was also further amneded under the Veterans Auto and Education Improvement Act of 2022 which stated: "For any taxable year of marriage, a servicemember AND the spouse of such servicemember may elect to use for purposes of taxation, regardless of the date on which the marriage of the servicemember and the spouse occured, any of the following:     (a) The residence or domicile of the servicemember    (b) The residence or domicile of the spouse    (c) The permanent duty station of the servicemember" View the full text of the law here. Read more about these laws on Kate's webiste and her awesome Confidently Prepared Life Binder (avaialble as a fillable PDF too!). KateHorrell.com has a lot of great info on military life, pay, benefits, and college and helpful checklists, and she's a great friend of the show. For a limited time, Spencer is offering one-on-one Military Money Coaching 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.

For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. High-income, high net worth, or dual military couples, this episode was made for you!  While not all of our audience will directly relate to today's topics, we hope that it will at least give you things to think about, topics to become aware of, and ideas of what your wealthy future holds for you.   Tax planning, wealth protection, and investment fees are 3 areas that WILL move the needle for you and do have a big impact on your financial journey.   Today's topics include:    - Taxes Backdoor Roth when your income is too high to contribute to a Roth directly Non-deductible IRA contributions Capital loss harvesting Donor Advised Funds (DAF) Donation batching Roth conversions - Wealth protection and umbrella insurance  - Generously giving and estate tax planning - Investment fees    It's ok to ask for help if you're situation is getting more complex. We recommend checking out the Military Financial Advisors Association (MFAA) if you need help or don't feel comfortable doing DIY investments anymore (or even if you just need a sanity check on your planning).   If you're looking for a Donor Advised Fund, Jamie uses DAFFY- you can check them out here (his referral link for an extra $25). Spencer uses Vanguard Charitable's DAF.   Doctors and medical professionals: check out the White Coast Investor site.   Books we discussed today: Die with Zero The Almanac of Naval Ravikant Four Thousand Weeks Strangers in Paradise by James Grubman From Strength to Strength 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 at 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.

New (and positive) I Fund changes coming to your TSP in 2024! The I Fund update during 2024 will include more emerging markets, increasing and diversifying your international exposure.    This is a positive change. In this episode we explain the benefits of the change, what it means for you, and what action is required on your part to take advantage of it.    It now represents 90% of non-US market cap now.   Best way to take advantage of this? Automatic contributions to your TSP each month! When you start in the TSP, you're automatically enrolled in the latest life cycle fund (currently L2065) which includes some L fund.   We encourage you to not succumb to home-country bias and think you don't need any international exposure. There 50% of the world's economy outside of the US you might miss out on without international investments. We talk about this topic and more in our Confident TSP Investing course at militarymoneymanual.com/tsp and 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're an E-4 or below, just shoot us an e-mail at tsp@militarymoneymanual.com for the promo code!) 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 at 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.