[This post is brought to you by my cousin Ross! If you're interested in contributing at The-Military-Guide.com, please see our posting guidelines.] I knew I had a spending problem after I contemplated purchasing a new TV to avoid the hassle of calling the warranty department for a six month old set that was on the fritz. The whole … [Read more...] about Reader story: “How I Bumbled Into Financial Independence”
Archives for 2020
The 2021 VA Disability Compensation Rates are effective as of Dec. 1, 2020. If you receive VA disability pay, you will notice the increased amount in your first check, which you should receive in January 2021. There was a 1.3% increase from 2020, following a 1.6% increase from 2019. The government uses the same COLA rates for military retiree … [Read more...] about 2021 VA Disability Compensation Rates – Updated Veterans Compensation Benefits Rate Tables
My father passed away three years ago. That realization still sneaks up on me (and maybe smacks me on the back of the head) every time I clean out a file box or organize the family photos. Another way to deal with grief is talking about it. This month I’ve shared my lessons learned in a very short video interview. … [Read more...] about Financial Caregiving: Are You Ready?
Updated for 2020! Veterans Day is Wednesday, Nov. 11, 2020. This year, hundreds of restaurants and companies are offering military members and veterans a free meal or another discount as a sign of appreciation for their service to our country. This guide will show you which restaurants are offering discounts, and how you can participate. To … [Read more...] about 2020 Veterans Day Free Meals & Discounts
A reader asks: I'm in the Reserves and I also have a full-time job with a 401(k) and employer match benefits. I believe the max I can contribute between my 401k, employer match, AND the TSP that is tax deductible is $19,500. Beyond that number, any contributions from myself, my employer, or via the TSP are all after-tax dollars, and I cannot … [Read more...] about Contribution Limits of the Thrift Savings Plan + 401(k) + IRA = ?!?
I get that pension comment every month from readers who are in their 60s... or even older. Most of them are doing fine, both financially and in life. They usually served some active duty before the Reserves or National Guard, and a few were even drafted for Vietnam. They decided not to gut it out to 20 years of active duty and they moved to the … [Read more...] about “I Would Have Started My Reserve Pension By Now!”
Now that my second book has hit the presses, we’re doing the promotion. This is a marathon, not a sprint, and my version of marketing looks an awful lot like “talking with hundreds of people while drinking coffee.” [This post is about writing and marketing. You can read about the creation of the book here and you can buy the book here.] The … [Read more...] about Lessons Learned (So Far) From a Money-Savvy Book Launch
A reader writes: “My spouse and I need a budget. What should we do? What type of budgeting do you recommend? I know it’s not a ‘one size fits all’ world, but how much is too much saving? It feels a little unsustainable at times but my wife and I make it work. We do love to get fancy and enjoy nice things but a lot of times the budget doesn’t … [Read more...] about From The Mail Buoy: “The Truth Behind Budgeting– It’s Not The Budget”
This post is brought to you by Mark Delaney at The Veteran Professional. If you're interested in contributing at The-Military-Guide.com, please see our posting guidelines. My commander looked at my packet of paperwork to leave the military and saw that I was planning on signing out on terminal leave in December. When she asked me what my plans … [Read more...] about How I Planned 8 Months of Travel
We’re aging out. As many of you know from your research, 59.5 is the minimum age for starting optional withdrawals from an IRA. Nearly everyone worries about how they’ll tap their IRA for living expenses when they reach financial independence before 59.5. (Although there are many penalty-free exceptions to this tax law.) I hit that dubious age … [Read more...] about “I’m 59.5 Years Old And Done Writing About *My* Money”