This list was compiled from the recommendations of dozens of veterans and their families. I've personally read or used all of them and I was not paid, compensated, or otherwise bribed to recommend them. Many of them are free through a website or local library. The products are all worth their price, but I recommend working through the free … [Read more...] about A Retired Sailor, Recommends 50 of the Best Personal Finance Books Ever Written
This article is meant for people who may have heard about college savings plans and would like to know a little more. College planning for your children is a topic that can cover a wide variety of beliefs (should you foot the entire bill, how much should you save), options, programs, government incentives and different savings vehicles. There are … [Read more...] about College 529 Plans – Saving for College
I've heard from a reader a couple of times over the last few years. Here's their latest question: Hi Doug, I'd like to find a financial planner and see what course correction(s) we have to make based on our current finances. I will be officially retiring in five years but will supplement my military pension by working part-time. We have a … [Read more...] about How Do I Plan Our Finances For The Rest Of Our Lives?
A reader writes: Hi Nords, I have a few questions I'm hoping you can help me with. I trust your expertise in these matters. I am currently an E-8 with seven years to go until retirement. I am hoping I make it to 20 years active and can retire an E-9. I'll be 48 years old at that point and don't really want to work a "job-job" after that. My … [Read more...] about What’s The Next Step To Financial Independence?
I spend a lot of time answering reader questions. Some of them are unique personal decisions, but most of them are about very common situations. I also get personal-finance feedback that just has to be shared with everyone. For example, fewer than half of today's military servicemembers even have a Thrift Savings Plan account, let alone make … [Read more...] about Should I Use A Financial Advisor Or The Thrift Savings Plan?
Here's a great reader question on getting the most out of your Thrift Savings Plan: I frequently read your website and find your advice very helpful, and I am looking to make some money moves that I'm not sure are possible. I have a Roth IRA with a lot of money in it, and a Roth TSP with a lot less money in it. I like the simplicity and low … [Read more...] about “Can I Transfer My Roth IRA To My Roth TSP?”
When Are You Financially Independent? Financial independence comes from two factors-- having (1) enough assets to support (2) your expenses. Most of us would prefer to focus on the first factor. We'd like to get our assets by earning a high salary (ideally for very little work), being a brilliant investor, or inheriting a windfall. (Or "Plan D": … [Read more...] about How Many Years Does It Take To Become Financially Independent?
Last summer there were many graduation ceremonies, and millions of new employees joined the workforce. In the military version of this milestone, thousands of new O-1s received their commissions and tens of thousands of other new recruits started their basic training. It's a very busy time. These new servicemembers are getting an incredible … [Read more...] about Financial Advice To Start Your Military Career
A reader writes: Hey Nords, what asset allocation do you maintain now that you're financially independent and retired? I retired from the military over 13 years ago, and today we still have pretty much the same asset allocation that we had when we reached financial independence. Our fund choices are more complicated and expensive than they … [Read more...] about REVEALED: Our Asset Allocation During Financial Independence
After years of military retirement, my spouse just transferred her Thrift Savings Plan to a traditional IRA. That's the first step in converting the TSP funds into a Roth IRA. It's taken us nearly three decades to get to this point. We started contributing to our traditional IRAs in 1986. (I was a little slow to catch on to tax-deferred … [Read more...] about How (And Why) To Transfer Your TSP To An IRA