Tag Archives: retirement

Ten Questions With Spencer Baker

Posted on April 13, 2016 by Forrest Baumhover

A couple of weeks ago, I asked the Military In Transition Facebook Group whether it would be worthwhile to read articles based upon other peoples’ experiences. It seemed that the overwhelming response was in line with my thinking. After talking with a lot of people about their retirement story, I realized that each conversation gave me a little bit of perspective about my own story. This inspired me to start an article series to share the stories of some of the people I’ve talked with. I hope that reading these stories puts a little bit of perspective into your life as you write your own transition story. Continue reading →

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Weekend Wrap-up: Military Personal Finance Articles You Should Read (3/25-3/31)

Posted on April 1, 2016 by Forrest Baumhover

To round out the personal finance section, we have a side-by-side comparison of Roth vs. traditional IRAs (hint: the difference has a lot to do with before retirement tax rate vs. after retirement tax rate, as well as the length of contribution period). Also, FI Guide has a guide for those of you looking at post-military employment where HSAs are relevant. We have 4 ways to tell if you’re financially ready for retirement. If you’re looking for a new car, you might be interested in this Consumer Reports list of the 10 worst cars on the road. Finally, Claire Emory presents the perils of relying upon an inheritance before you actually receive it. Continue reading →

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Retirement Journal – 400 Days & Counting Down

Posted on March 23, 2016 by Forrest Baumhover

Today is March 23, which means that tomorrow (March 24) marks 400 days until my retirement ceremony date of May 1, 2017.  The other day, I was talking with Jeff Rose, CFP®. Jeff is the creator of the Good Financial … Continue reading →

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Taking Terminal Leave vs. Selling Back Your Leave

Posted on March 7, 2016 by Forrest Baumhover

There are any number of articles out in the web-space about whether you should take terminal leave upon retirement or separation, vice selling back your unused leave. Ryan Guina’s Cash Money Life article is a very good primer on why this should be considered on a case-by-case basis, and why each decision on whether to take terminal leave is a personal one. Continue reading →

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The Purpose of TSP’s Lifecycle Funds (and Why You Should ‘Set it & Forget it’)

Posted on February 29, 2016 by Forrest Baumhover

There are a lot of people who wonder what TSP’s Lifecycle funds (or L-funds) are, what they are supposed to do, and how they are supposed to invest in them. This article aims to answer some of these questions and … Continue reading →

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Thrift Savings Plan Highlights

Posted on February 25, 2016 by Forrest Baumhover

Normally, I write all of my blog posts, based upon research that I’ve personally done. However, last week I received a letter from TSP’s Executive Director, Greg Long. It accompanied the year-end statement, and is normally the type of document most people throw away with junk mail. However, I actually read it. Moreover, I liked what I read, specifically the Myth/Answer section. In case you missed the letter (or threw it away, like I used to do), I’ve recapped the Myth/Answers below for your benefit. Keep in mind, this isn’t the entire letter, and I’m not sure where you could find a copy of it online. Continue reading →

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What’s Your Five Year Plan?

Posted on February 18, 2016 by Forrest Baumhover

One of the things you should always keep in mind is to have a five year plan. This plan should consist of things you plan to do in the military, as well as post-military, education, financial, and family aspects. Continue reading →

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Job Risk Mindset After Retirement – How to Mitigate Your Cash Flow Risk

Posted on February 11, 2016 by Forrest Baumhover

This article is a follow up to my last one about your job risk mindset after your military career ends. If you haven’t read my first article, you might want to read it here before continuing on. In it, I … Continue reading →

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Job Risk Mindset After Retirement – What to Consider When Starting Your Second Career

Posted on February 8, 2016 by Forrest Baumhover

While I normally try to write to people looking to either retire or separate, this article is intended for people who plan to retire. However, there are some items of consideration for separating members as well. This article is the … Continue reading →

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