If you’re in the Army, you need to know what’s happening with Continuation Pay in calendar year 2025! Even if you’re not in the Blended Retirement System (BRS), I’d almost guarantee you know someone who will be affected by the upcoming changes. Be a good leader or battle buddy and share this with anyone who […]
Important Army Continuation Pay Changes You Need to Know for CY25 Read More »
In this Enlisted Money Confession, we get to explore some of the deeper meanings and money scripts behind our financial habits. I feel like this will resonate with many other enlisted military members. It’s a conversation that comes up quite a bit when we start talking about money – the lack of money when we
No Nuggets and No Spending Limits: Enlisted Money Confession #3 Read More »
Creating a budget for the first time can be so intimidating, but it doesn’t have to be! Whether you know a little or a lot about personal finance, having a budget is vital. No matter what, you need to make a plan that works for you and others with whom you share your financial life.
How to Create a Budget that Works for You Read More »
With market returns, your money will double every ten years on average. This means that at retirement, an investor who started 10 years ago will have twice the money of someone of the same age who starts today. How is this possible? Compound interest. The S&P 500 has an annual inflation-adjusted return of about 7%.
Understanding Compound Interest: The Key to Building Wealth Read More »
Continuation Pay is probably the least understood benefit within the Blended Retirement System (BRS). Many service members don’t know what Continuation Pay is, miss the cutoff to request the bonus, or are downright confused about how Continuation Pay works. It’s not surprising because it’s really difficult to find any single place to understand the program
How Continuation Pay Works to Benefit You Read More »
One of the most common questions I get asked is how much you should be saving for retirement. Once people start thinking about their finances and understand they should be saving for retirement, the next logical question is how much. It’s actually really hard to predict exactly how much you’ll need in 20, 30, or
How Much Should I Save for Retirement? Read More »
It’s been years, actually over a decade since we changed banks for our high-yield savings account (HYSA). But this year we’re making a switch. I’m actually kind of embarrassed about it. Long story short, we were not valued as loyal customers and I refuse to stay with a bank that treats me unfairly. A Quick
How to Select a High-Yield Savings Account Read More »
Just for fun, I decided to copy and paste our expenses into ChatGPT and have it write a story about our holiday spending. I was pleasantly surprised at the comic relief I got from this! I felt weirdly better about it too. My wife and I tracked our Christmas and holiday spending with a Google
Holiday Spending Regrets? Make AI Write You a Story! Read More »
If you’re a money nerd like me, you’ll love creating your own little “holiday” for it – Money Day! I originally got this concept from J.D. Roth’s blog, Get Rich Slowly. Our annual Money Day has evolved over the years, but it’s a great forcing function to keep us on track financially. This also serves
My Favorite Financial Tradition: Money Day! Read More »
I commend this service member for following their heart (eventually) and prioritizing their enjoyment in life. We can often feel stuck trying to “gut it out” to retirement. Ever wonder why there’s so many angry, senior leaders running around? This service member understood exactly why. I really wish I’d had the forethought and courage (and
