The Military Money Manual Podcast

Oct 28 2024 149 ep. 36 mins 31
The Military Money Manual Podcast artwork

Military Money Manual Podcast is all about financial freedom while you serve in the US military. Learn more about military travel hacking and credit card annual fee waivers exclusively for active duty, Guard, Reserve, and military spouses in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3 Find Spencer's book, The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or shop.militarymoneymanual.com Credit cards, travel hacking, investing in the TSP, financial independence, retiring early, military FIRE, maximizing military pay: Jamie and Spencer cover it all. Your hosts are Spencer Reese and Jamie. Spencer served for 12 years in the US Air Force flying C-17 aircraft around the globe. Jamie is currently an active duty Air Force officer.

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"I Only Want 1 Credit Card!" Best Military Credit Card Strategies for 1, 3, or 5+ Cards #147

Oct 28 2024 30 mins  
This may surprise you! Want to experience an easier and simplified strategy for military credit cards? That's fine! We'd ask "why" you don't want more, but in today's episode we share which cards we'd recommend for listeners who reach out wanting smaller numbers. Links: Ultimate Military Credit Cards course (free) Chase Sapphire Reserve (CSR) Amex Gold Card Amex Platinum Amex Hil

HCFSA for Military | Health Care Flexible Spending Account Worth It for Military Families? #146

Oct 21 2024 13 mins  
A new benefit for military families! How good is it? In fall of 2024, SecDef announced a new Healthcare Flexible Spending Account (HCFSA) for military families. In March 2025, you'll be able to sign up for it for the first time. It may give you a minor tax savings but also may complicate your situation a little. We break down the details of this pre-tax benefit, explaining how it w

Required Minimum Distributions (RMD) | Roth vs Traditional | How RMDs Affect Military Finances, Inherited IRAs #145

Oct 14 2024 25 mins  
Did you know Required Minimum Distributions (RMDs) will be a factor in your future that you may not be tracking? If you have any traditional TSP or IRA money, you'll be required to take a portion of that money starting at 73 (as of 2024, scheduled to go up to 75), and that distribution will be taxable income. This can affect how to withdraw from accounts in retirement and how you

Gap Funds for FIRE | How to Save for Early Retirement in Taxable Accounts for Military #144

Oct 07 2024 30 mins  
How do you finance the life between possible early retirment and 59.5 years old when you can access you retirement accounts? A gap fund is one common approach. Today we discuss: What is a gap fund? Is it necessary? Where does it fall in priority order when saving for early retirement? How do you invest a gap fund? For a limited time, Spencer is offering one-on-one Military Money

DCFSA | Dependent Care Flexible Spending Account for Military | Possible $5,000 Tax Benefit | With Brandon Lovingier, the Enlisted Money Guy #143

Sep 30 2024 17 mins  
Dependent care flexible spending account- is it even worth your time? (note: this is different than the HEALTHCARE FSA which was announced in Sept 2024- we have an episode coming out on that in a few weeks) Open season is coming up in mid-November to mid-December! For a limited time, Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money

Amex Pop-Up Jail, TSP Contributions, Combining Accounts, Low Fee Investments: Reader Question & Answers #142

Sep 23 2024 58 mins  
In this mailbag episode, Spencer and Jamie answer various listener questions about investing, credit cards, and military-specific financial topics. They provide insights on compound growth, TSP options, Roth vs. Traditional accounts, credit card strategies, and investment return estimates. Questions discussed: - Is there a benefit to combining multiple investment accounts? - Should

Air Force Pilot: Buying Multiple Homes on Active Duty, Building Wealth, Teaching Financial Habits to Your Troops with Garrison #141

Sep 16 2024 37 mins  
$85,000 in debt and a brand new truck to a wealthy and generous life?! In this episode, Air Force officer Garrison shares his financial journey from $85,000 in debt to working towards financial independence. He discusses following Dave Ramsey's Baby Steps, buying a home in the military, running a crash pad rental business, and helping his Airmen with financial education. Spencer an

Military Financial Readiness Study | Tom McLean & Jodi Vickery from Armed Forces Bank #140

Sep 09 2024 33 mins  
The May 2024 Military Family Financial Readiness study from Armed Forces Bank highlighted unique financial challenges military families faces due to the nature of their service. Today, Spencer and Jamie are joined by Tom McLean and Jodi Vickery, hosts of the Militarily Speaking podcast, join us to discuss the financial challenges military families face, identifying good banking pr

Enlisted Success Story! $500,000+ Invested by Age 31 | Financial Independence by 38 | Darren Thedieck #139

Sep 02 2024 48 mins  
Enlisted Airmen with half a million dollars invested?! Meet Darren Thedieck, US Air Force E-7 who was recently featured by CNBC. and Stripes. We talk very practical tips with Darren about how he learned to save, where he saves, speicific ETFs we like, and handling his family's journey from debt to financial independence. How to handle debt Where to park my savings? How much am I

Health is Wealth | Physical Wellness and the Connection to Financial Wellness | Increasing your Healthspan and Enjoying your Wealth #138

Aug 26 2024 25 mins  
What's the point of building wealth if you're not healthy enough to enjoy it? Today, Spencer and Jamie explore the connection between physical health and financial health. Although this is a slight diversion from our money-focused podcast, we want to encourage you to keep both portions of wellness in balance as you grow towards a wealthy life that you can enjoy. Links mentioned in