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Yes, Congress and the President did what needed to be done and passed a continuing resolution and raised the debt limit. These actions averted a potentially devastating government default. What this means for military families is that your November 1 paycheck will arrive right on schedule. As posted previously, credit unions stepped in early to … Continue reading
As an aviator, I’d never consider jumping in an airplane, taking off and then start thinking about where I’m going, but in personal finance that’s how it usually works. You start working, bring home the paycheck and spend the money. By the time you realize that you need a plan, months or even years have … Continue reading
If you’ve deployed in the last 10 years to a combat zone you probably made some TSP contributions that were tax exempt. About 10% of my own TSP balance today is tax exempt. Earnings from that portion of my portfolio will be taxed as ordinary income when I take them out. If I could move … Continue reading
angela7dreams / Foter / CC BY-NC With New Years just around the corner it’s a great time to set goals and re-evaluate your financial plan. Here are five financial moves military families should consider making right now. Take the 8% Challenge. This is a great way to increase your emergency fund and prepare for life’s … Continue reading
Robert Powell is a frequent contributor to MarketWatch.com, a favorite resource for YMM. In his article, “10 Overlooked Retirement Tips” he offers differing views on various retirement savings techniques. Here we examine 10 more techniques for military members, some that might be misunderstood and that create paralysis of action, preventing you from achieving your early … Continue reading
Reviewing the announcement from Government Executive discussing the TSP, I took note of the military participation rate, quoted at 49.5% of active duty military personnel. This compares with 84.9% of government civilian personnel who usually receive matching contributions to their Thrift Savings Plan Accounts. Military members are not eligible for matching funds, but as I’ve … Continue reading
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