Service and Wealth

Trick question (or is it?): what's the first step in budgeting? If you said "put down your income," or "list my regular expenses from biggest to smallest," you're 100 percent WRONG. No effective Personal Financial Plan or budget can start this way, because it's ignoring what's important to you. There's no goal or road map for it. You're just writing down a bunch of numbers and tracking them each month. The only way you will ever be able to Take Control of Your Finances and accomplish your financial goals requires you start with your own personal Mission Statement. You know, just like a standard CONOP in the military! You've got to have a clear picture of your PURPOSE for doing this in the first place, and the only way to know that is through a goal-setting process. The Military Wealth Coach's iCASH System™ solves this most common budget problem by starting with a goal-setting process: "Identify Dreams and Goals." By starting here, you'll see that the things you dream of, the things and experiences you really, really want to have someday, are going to cost money -- and to have enough, you have to start saving now. iCASH™ transforms budgets from a system to cut back or deprive yourself of things you want now into a SMART savings plan that will help you afford all the major things you want in life! Tune in this week to learn how to get started with iCASH™, then head over to our blog for more including downloadable worksheets that you can use to follow along. Better yet, set up a call with The Military Wealth Coach and we'll help you get started today! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

It's a real shame: budgets and budgeting apps are designed to fail. They just tell you the fun and rewarding things that you're not allowed to do! Life's too short not to enjoy it. But since there's a Future You that will want a new car, to buy your first house, to travel the world, go back to school -- not to mention that you've got a 50-50 shot at living to be 100 and you don't want to work for the next 75 years and actually want to retire -- you need to save money. Lots of it. In this week's episode we explain why the typical budget based on denial and cutting back is the exact opposite of what you need, and instead offer up our approach that starts by dreaming of the things that really make you happy, then "buying" them one month at a time. So you can't actually buy a house $500 per month for three years -- but you also can't spontaneously save $20,000 three years from now when it's finally time to buy a home for your new family. You'll learn how managing your money has to be the same as how you improve your run time, pull-ups, push-ups, or sit-ups to achieve your goal for your next Fitness Test in the military. Set a goal months or years in the future, then work every day towards it, celebrating small successes along the way, while still enjoying a couple beers or pizza along the way. Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

America's military families are in trouble: --74% can't afford their housing costs on BAH alone --76% state they need more money to make ends meet --76% say they need their spouse to work to make ends meet --57% of them are single-income households There's no denying it: the military lifestyle is hard. But this isn't 2005, and it doesn't have to be. 3 out of 4 military families report financial distress, from housing costs, to covering monthly expenses, to child care, to saving enough to become homeowners or for retirement. And yet military families are also living in a historical vortex in which they still believe they can get by with a single income and a stay-at-home partner to take care of the house and kids. But 3 out of 4 of us say they need their partners to work just to get by. The numbers just don't add up. This week's episode is a strong Call To Action (CTA) to our military leaders -- not the ones in the pentagon, but the ones on the front lines, from E4s and O1s to E8s and O5s, to start educating the Force and our military families on how to become Financially Stable . . . Financially Able . . . and ultimately Financially Free. It is all within your grasp. When 1 of every 2 military divorces cite financial hardship as the main reason for the breakup; when 1 in 2 military suicides is traced by to financial stress, it becomes clear that WE CANNOT AFFORD to avoid financial education in the military any longer. This week's episode discusses the problems, their causes, and some easily actionable solutions to help our military families escape from financial traps. But you can't just listen to the Podcast: once you listen, you'll need to act. Help us all out, by helping those in your charge. Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

If you only read the headlines, you'd believe that there's no way you can ever become a homeowner and check off the biggest "to-do" on your way to achieving the American Dream. After all, as we roll into 2025 the average (median) home price in the U.S. stands at $410,000: at 7% interest rates, that results in a monthly mortgage payment of $2,700 IF you make a 20% down payment -- and nearly $3,300 if you use a zero-down VA Loan. That does make it feel out of reach. In fact, the average American household has to save for 5-13 years depending on their state to make the down payment on an "average" house. But what is "average", and do you need it? The reality is the typical Starter Home -- 3 beds, 2 baths, and around 1,500 square feet -- costs $200,000. The monthly mortgage payment on that is less than any BAH entitlement at any duty location, including for E-1s! As it turns out, you can do this! In this week's episode we don't just offer encouragement: we breakdown homebuying on a military budget into the numbers. You'll learn about the Rule of 30 and how it helps you budget to buy a home, and you'll learn about how to compare the trade-off between renting and buying. We even go so far as to walk through a case study of how buying a $250,000 single family home in a military town, living in it for one tour, then renting it out to other military families for just 5 more years can make you $100,000! When done using the VA Loan, this can yield you an annualized ROI of 30% -- triple what your stock investments can earn. If you want to boost your Financial IQ™ and become a Military Real Estate Mogul, grab something to write on and something to write with, and dive into this week's episode! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

It's crazy: there are still people out there who think you can't make money in real estate! The reality is that real estate offers so many different ways to make money that it is a far superior asset class to anything else out there. Want to make money on your stock portfolio? You have TWO ways to make money: appreciation and dividends. But what about real estate . . .  In real estate investing, the typical investor can make money FIVE different ways. Sounds pretty great, right? Well, if you're in the military, it gets even better, because in the military you're looking at at least 6 ways that real estate will make you money. When it comes to building wealth, if you're in the military investing in real estate is a no-brainer (which works out perfectly for most of us, because that's what we are, haha!!!). In this week's episode we discuss how you make money on real estate with the purchase and not the sale (sounds crazy, right?), and we go down the checklist of how you make money in real estate. It just so happens that there are at least 6-7 ways that you will build wealth and achieve your goals of financial freedom through real estate investing while in the military -- so why wait? Tune in, grab your ink stick and Rite-in-the-Rain notebook, and tune in today! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Believe it or not, no one can predict what will happen with the stock market -- or with individual stocks. In fact, on a daily basis, there's a 53% chance a stock will go up and a 47% chance it will go down: hardly any better than a coin flip. So when the headlines are calling for Doom and Gloom, talking about "bubbles", and predicting a crash, it's no more reliable than your own guess. But you want to know, right? The reality is that you can't know, which can be a pretty terrifying thought. What happens if the market crashes? Will I lose all my investments? Will I still be able to retire? How can I protect myself? More sobering than the fact that stock price movements are random and no one can predict the market is the reality that there are several things you CAN DO to protect your investments, but no one ever talks about them or teaches you. Big banks, investment houses, pensions, and hedge funds all do these things, and that's why when the market crashes or a "bubble" pops, they are just fine -- but folks like you and me take it on the chin. This week we talk about the current state of the market post-DeepSeek launch, evaluate things like P/E ratio and market concentration amongst the S&P 500 and the Magnificent 7, and make some informed predictions about the state (and future) of the stock market. We also talk about three things you can, should, and maybe ought to do to protect your portfolio and your investments. (Hint: these are the things the ultra rich do with their money, that you don't know about, but that you can absolutely do, too!) So plug in, sit back, and grab an ink stick and something to write on, and get ready to take notes, because this week's episode is full of fascinating market facts -- and things you can do today to take action and take control of your money and your financial future! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Just like working up for a deployment, at some point all the training just seems to come together and make sense. You memorized all the technical jargon in your Field Manual (FM), and know the Tactics, Techniques, and Procedures (TTPs) to apply the "tools in your toolbox" in a real mission setting. That's what this episode is all about -- but for real estate! Whether you've been in for 2 years or 20, are 25 or 52, and own 0 or 10 houses, the strategies and hacks you'll learn in this episode will help you create your own "campaign plan" for real estate. You'll learn about how long to hold onto a property before selling, ways to determine whether to sell or not, and how to use your VA loan smartly -- and how to reload it when you need it. You'll also learn the secrets of the IRS Code that will help you save $100,000s in taxes over the course of your lifetime. Just as you can't simply draw a rifle and Night Vision Goggles (NVGs) from the armory and step across the Line of Departure and expect to win a firefight, you can't step off into the world of real estate and Real Estate Investing (REI) without a plan! This episode creates a plan (or OPORD shell) that is optimized for a 20-year timeline -- but works both in and out of the military, so it will be just as useful to veterans and family members as it is to anyone still in uniform! In fact, you can use it 2-3 times in a lifetime to accrue millions in wealth! Grab your ink stick and notebook, plug in, sit back, and get your learn on! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Finally, it's here . . . drumroll please . . . The Authoritative Guide to the VA Loan. If you think you already know all you need to know about the VA Loan, we guarantee that by the end of today's show you will have found several reasons to pick up your Green Notebook and a pen and write down some notes with the "golden nuggets" we introduced. From explaining why the VA Guaranty will always automatically get you a better interest rate, to walking through how to safeguard your Earnest Money Deposit with the totally legal "VA Escape Clause" written into every offer and sales contract, you'll become a more savvy home-buyer. But what's more, you'll learn about the different kinds of VA Loans that can unlock amazing opportunities, such as the: Energy Efficient Investment VA Loan Construction Loan Interest Rate Reduction Refinance Loan from the VA Joint VA Loans Cash-out Refinance VA Loan Jumbo Loan And of course, much, much more. In fact, we even go over an example of how two single service members could combine their VA Loan eligibility to jointly invest in a multi-million dollar, multi-family property that has the potential to provide enough rental income to double the take-home pay of an average O-1 or E-6. We think that by the end of today's episode you will walk away not just with the knowledge and confidence to start buying property with your VA loan today, but the belief that you can't afford NOT to. So grab your ink stick and notebook, plug in, sit back, and get your learn on! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

In our fourth installment of our Podcast series on Real Estate for the Military, we finish building our Financial IQ Foundation by discussing financing and mortgages. Not just for the VA Loan, but general truths about home loans and the mortgage industry. While it may feel like a bit of tease to not jump into the VA Loan straightaway, understanding financing will help you take advantage of many different ways to buy a house, and do so without backing yourself into a corner or falling into any traps. You'll learn about why the 30-year mortgage in the U.S. is such an amazing tool that few in the world have access to (and also explains why so many non-American millionaires and billionaires come to the U.S. just so they can buy real estate with a 30-year mortgage). You'll learn about what happens to your loan after you've taken the keys and moved into your new house, and give you the knowledge to not panic when you get those gibberish-sounding letters from banks you've never heard of announcing they bought your loan. Most importantly, we'll break down the mortgage payment into Principal, Interest, Taxes, and Insurance, or PITI, as well as that other charge you might see on your monthly statement: Mortgage Insurance. You'll learn not only that you can pay less than 20% down on a house with non-VA loans if you qualify for it, but also that in 9 cases out of 10 you absolutely should pay less than 20% down -- and just pay the Mortgage Insurance. By the end of today's episode you'll be confident enough to stroll into any bank in town and take out a mortgage that's best for you so you can jump right into real estate investing and homeownership today! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Welcome back for our third installment in the series of Real Estate for the Military, in which we move from crawl to walk -- and help you with some tried-and-true TTPs for making killer offers and getting a great deal on your first (or next) house. In Week 1 we laid the foundation of what real estate is all about in the U.S., and in Week 2 we talked about how to prepare yourself to buy a house by what to look at in researching homes in your new city, as well as questions to ask your agent and loan officer to make sure you put together a rock-solid team that is working for you "from soup to nuts." In this week's episode we talk the "5 C's" of real estate: Contact, Contract, Contingencies, Commissions, and Closing. That's right: together in this week's episode we walk through the steps from reaching out to a seller, to making an offer, to getting through the messiness of negotiations, inspections, appraisals, pre-qualifications, and more to get you across the finish line to close on your next home purchase. Beyond just talking about the steps and the key terms, we share winning tips, tricks, and TTPs that will help you make competitive offers that get accepted -- and keep more cash in your pocket! Finally, we talk about a simple closing checklist to make sure you're getting the deal you expected. Remember to join us next week for Part 4 in which we go into "eye-bleeding detail" on the VA Loan. We guarantee you'll be surprised by what you learn about the different types of VA loans available to you, and the endless possibilities they present! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

In our second installment of the Military Wealth Coach's Service and Wealth series on real estate for the military, we build on the foundation of Part 1 in which you learned about the foundation of all real estate transactions, and the things you need to check on before buying a property. Armed with that knowledge, we dive into the people you will work with to buy your first (next) house: your agent and your loan officer. But rather than follow the typical script, we drill down into the knowledge you need to assemble before even talking to an agent, and the questions you need to ask the agent and loan officer before ever agreeing to work with them. The reality is that this is going to be your house, and after the sale it's you who will live with the consequences -- so don't let them take control of the process! After listening to today's episode, you will have the wisdom, tools, and confidence to Take Control of Your Homebuying Journey, to interview and screen agents and loan officers, and to assemble a team that will work in your best interest -- not for maximum commission. Remember to join us next week for Part 3 in which we talk about how to make offers, what to know about commissions, and what costs to expect to pay at closing (yes, even if you are trying for a "zero-down" VA loan home purchase, you will pay something!). Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Buying a house -- so many words and feelings come to mind: exciting, intimidating, scary . . . and also we probably all assume it's really complex! But the feeling that it's hard comes from not knowing the ins and outs of real estate transactions, where it all starts, and the "who's who in the zoo." Fear not, as this week the Service and Wealth Podcast pulls back the curtain to explain the core components of real estate transactions in America. In fact, we use this episode to lay the foundation (haha!) of your knowledge about homebuying and real estate by discussing how the home itself is just an "extra" in the process, and that it all starts with you buying the land underneath it. We slowly build up from a simple Buyer-Seller transaction to add in crucial roles of the Recorder, Notary, and Title Officer before we even start talking about agents and bankers. Who knew!? If that feels backwards, don't feel bad -- you've just been controlled and misdirected by the industry of realtors and banks. Use the knowledge from this week's episode to straighten out your understanding of real estate, and most importantly to take control of your "team" on your next home purchase! So grab your Rite-in-the-Rain notebook and a pen and get ready to take some notes -- then make sure you come back next week for Part 2 when we make a deep dive into the VA Loan! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

We follow up last week's "post-election special" with a second round of discussion about the link between a second Trump Presidency and your life and finances in the military. In response to listener feedback, we dig a bit deeper into the numbers to explain why the standard military pay based on the Employer Cost Index (ECI) simply "doesn't cut it" when it comes to helping you get ahead -- and in some years even just keep up -- financially. We then get a little academic and a little historical and explain how the policies that Trump is proposing, from tariffs on foreign goods to energy independence and reinvesting in America's manufacturing and industry bases, is not an exception in American economic policy. In fact, for over 2/3 of our nation's history, we have used policy tools like these to position America's economy on top of the world. Tune in this week for a little bit of college-level economics and political economy, to help you better tie together the headlines and craziness of the world today, from an historic election to Ukraine to China to your stock portfolio, it's all much more tightly linked than you may have expected! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

President Trump secured the 2024 presidential election by a wide margin -- and perhaps even more significantly the Republican Party gained seats in both the Senate and House of Representatives. As the party with an historical reputation as being more "pro-military," does Republican domination mean more pay for you next year? In this week's episode we explain the rules and processes that determine how much you get paid on the 1st and 15th, things like the Employment Cost Index (ECI) and the National Defense Authorization Act (NDAA). Don't worry, we don't waste time getting bogged down -- instead you'll walk away from listening with a complete understanding of how your Base Pay and BAH change, and by how much. In the second half of the episode, we talk bigger picture U.S. economy, and talk about how President Trump's economic and foreign policy will likely impact you over the next four years. And not just the implications on prices, inflation, and your paycheck: we also discuss how the wars in Ukraine and the Middle East, and whether they end or get worse, is likely to impact all our lives. It's an Election Special episode packed with big questions -- and big answers, so download and listen today! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Do you know what happens when you let the military manage your TSP (Thrift Savings Plan)? You sacrifice between $1.1 and $2.6 MILLION by the time you hit retirement age. Let that sink in for a minute. The Lifecycle Funds sold by the TSP are highly inefficient investment strategies that rob you of the returns you need to reach the goals and dreams you have for your future. But they do make the TSP a good deal of money -- not because they work, but because they are the default option that your Service Branch signs you up for when you join the military. Don't want to get screwed out of millions of dollars? Then take control of your finances, your retirement plan, and your TSP, and make sure you have $0 in a Lifecycle Fund. Ever. In this week's episode, the Military Wealth Coach FINALLY gets to unleash on the scam that is the Lifecycle Funds strategy at TSP, and shares with you the real numbers behind why and how you will come up massively short in your retirement savings goal if you allow any of your money -- or any of your service's matching contributions under the Blended Retirement System (BRS) -- go into a Lifecycle Fund. It doesn't matter which one, or at what point in your life, they ALL lose you money. Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

When your investment portfolio takes a turn for the worse, how do you react? Are you a "stick it out" type -- or do you "panic sell?" Do you believe that you "got screwed by the market" -- or do you take action to set up future trades in a way that prevents a big financial loss? It turns out there are two very different types of people in this world, and when it comes to investing and building wealth you're more likely to be successful if you're one and not the other (or if you can train yourself to be that person). This person has an "Internal Locus of Control," meaning they have the knowledge and the power to take control of their finances and achieve their financial goals to live their Dream Life. In the first half of today's episode, we talk about how important it is to be confident in your abilities so you can avoid repeating stupid mistakes, and stay on track to building wealth in your lifetime. In the second part of today's episode we reveal why all the talk about -- and online quizzes designed to measure -- your "risk tolerance" when it comes to investing is all wrong. In reality, the way you respond to risk and loss rarely matches what you think about risk when you start investing, and for that reason you can basically throw out the results of these quizzes. Instead you should focus on two very important questions: how do you react to risk and loss, and how much risk can you actually afford to take? Too many brand new investors use the quizzes and invest in risky assets, but never take the time to determine if they can actually afford the risk. Learn how to make better risk decisions with your money by tuning into today's episode! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Did you know that your beliefs about money, saving, and investing were most likely formed when you were just 6 or 7 years old? The truth is that we imprint the beliefs and emotions of our parents, neighbors, and pop culture when we're too young to even realize what's happening. And the consequences can be disastrous. Most of us have 1 of 4 "Money Scripts" that determine how we emotionally deal with money -- and those emotions time and again are more powerful than your well thought out financial plan. This is the main reason why "smart people do dumb things" with their money, according to Dr. Brad Klontz, author of Psychology of Financial Planning. In this week's episode we take a deep dive into the different Money Scripts to help you understand how 6-year-old you consistently gets in the way of achieving the life and financial goals you set for yourself as an adult. More importantly, we also discuss 1-2 simple daily things you can do to overcome these emotional obstacles and get back on track taking control of your finances. Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

TikTok loves Girl Math Memes -- both those "for", and those "against." While Girl Math has nothing to do at all with math (obviously), it also has nothing to do with girls: boys also use Girl Math all the time! While it can be fun to talk about and makes for silly memes, the wasteful spending that comes from Girl Math will cause a lot more damage than just going over budget. Each "$5 so it's free" or "it was an exchange so the extra money doesn't count" or "it's free because I paid cash" can add up to $100s or $1,000s a month. And when you add up that much wasteful spending, you can start kissing your dreams and goals goodbye -- and at the very least accept you will be working well into your 60s and 70s to make up for the wasteful spending of today, and the money you could have been saving. But before calling out yourself or your partner, consider this: Girl Math isn't logical. Therefore, you can't use any logical or mathematical argument against it! Instead, the only real way to keep Girl Math from ruining your and your family's finances is to set up an automated budget with separate accounts. By agreeing on a monthly "spending budget" that you set aside in an isolated account with one debit card, you limit how much can actually be spent. Then you or your partner can use as much Girl Math as you want, so long as you're only spending from your "Girl Math Account." But once it hits $0, it's all over until next month . . .  Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

This week we wrap up our monthlong series on the Blended Retirement System. Click the links to listen to Episode 1 and Episode 2 if you missed out. This episode is dedicated to explaining what to do with your BRS and TSP when you take off the uniform one last time and collect your DD214. Unlike the Legacy High-3 retirement that you could put on auto-pilot, the BRS has choices to make all the time. Take control of your finances by learning the benefits and mastering the strategies to maximize your benefits. In this week's episode we talk about what to do when you get out, whether you're the 1 in 6 who makes it to retirement or the 5 in 6 who separates before 20 years. No matter what, 100% of you have the TSP and Service-Matching contributions in your TSP that you need to take care of. Should you cash out or keep it in the TSP? We provide three reasons why you should absolutely keep your TSP partially funded and open -- even if you move 99% of your savings elsewhere. And what about the Lump Sum Option? The BRS, DoD, TRS, TAP, USAA, and other organizations would have you believe taking the Lump Sum is a poor decision that will cost you money. They even try to convince you that taking the Lump Sum is the same as giving up a quarter million dollars or more -- but they have it totally backwards! The Lump Sum is your Golden Ticket to investment riches, and we make it our goal this week to convince you to take the Lump Sum 100% of the time. Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.

Most of us who leave the military before 20 years do so to chase higher paychecks in civilian jobs. And while the dollar amount printed on the check every 1st and 15th will likely be more, are you really making more in terms of total compensation? As it turns out, we all need to do a little math to figure out how much the military is actually paying us -- and the results can be stunning! The value of our free (barracks) or subsidized (Basic Allowance of Housing) room and board, free healthcare, and other perks ends up being worth $23,000-50,000 (or more) per year. When added to the modest Base Pay of a military career, these perks take you up to, or way over, the average income for American workers. In fact, an E-1 making $25,000 also gets $23,000 in benefits -- $23k worth of food and housing and healthcare that they will have to pay for as a civilian. But on top of that there is the massive value of Military Retired Pay, aka your monthly pension. If you were to DIY your own pension, you'd need to save $15,000-24,000 per year for 20 years just to equal the value of your Retired Pay. That more than levels the playing field, and in fact, we argue, makes U.S. service members some of the best-compensated employees in the entire United States! Don't miss an episode: subscribe today on Apple or Spotify today, and opt-in to our weekly newsletter by signing up HERE! Time is almost up to pre-order our mini-course, "Financial Freedom in the Military" and get FREE access to the course when it launches!!! Sign up here: https://www.militarywealthcoach.com/joinus For a complete library of our episodes, blog posts, and more, visit www.militarywealthcoach.com, and follow us on all the socials by searching for Military Wealth Coach or @mwc112358.