MILMO Show

Financial readiness is a critical part of force readiness but also to the quality of life of service members and their families. When it comes to taking advantage of the resources provided by the Office of Financial Readiness, there are often some misconceptions.  In this episode, Andrew Cohen gives us an inside look at what FINRED is, how it helps, and how you can use it to set your finances on t...

Are you a money cheater? Or has someone you know and love ever cheated on your financially? Financial infidelity can absolutely ruin a marriage or relationship and your finances, but what do you do if you suspect it's happening to you?  In this episode, I talk with forensic accountant Tracy Coenan on the red flags of financial infidelity you should watch for and how to handle them if you find them...

You've probably heard of the power of compounding before, but do you know its true power and use that power to amplify your wealth?  In this episode, financial advisors Scott Kyle and Patrick Fischer break down compound interest and how to use it to grow your wealth with stocks, dividends, and options.  Scott is the CEO and Chief Investment Officer of Coastwise Capital Group, LLC, a boutique money...

Consistency in managing personal finances is challenging because it requires discipline, self-control, and long-term planning, which often clashes with impulsive spending habits, but without consistency, avoiding debt and building wealth is a struggle. Consistency in managing personal finance empowers you to take control of your financial future. In this episode, Emily Guy Birken breaks down the c...

Do you know what is driving or holding your finances back? Lack of self can have a negative impact on your money if you let it. But most of us don't realize the crucial role self-awareness plays in financial success. In this episode, I talk with Mick Heyman, a Chartered Financial Analyst, about how self-awareness can improve your finances, the impacts of human nature on finances, and how to build...

The benefits you receive from your military service can have an impact on your finances. Last week, I had Dr. Paul Lawrence back on the show to talk about VA disability and all of the other benefits you receive as a perk for serving.  One of those benefits is the Post 9/11 GI Bill which can be instrumental in enhancing your financial stability and earning potential after service. I thought this wo...

For most veterans, starting a VA Disability claim or finding out the benefits you're eligible for is daunting. There are a lot of moving parts, information, and nuances in almost every aspect of the process. It's hard to know where to put your first step.  In this episode, Dr. Paul Lawrence is back to break down what you need to know about filing or refiling for disability benefits, how the VA and...

Military marriages face many challenges that can negatively impact your relationship. Unfortunately, the divorce rate among military couples is higher than in the civilian population. The good news is, a study published in 2017 in the Journal of Family Issues found that the divorce rate among military couples declined between 2005 and 2011. So how can we keep up with that popular trend? In this ep...

Real estate investing is all the rage, but is it for you? There are risks and expenses when it comes to making improvements, repairs, and maintaining renters. Investing in land is another option instead of real estate.  In this episode, I talk to Brent Bowers, a vacant land investor, about what investing in land looks like, where to start, costs, and mistakes to avoid.  Brent is an Army veteran an...

Mortgage rates continue to be a hot topic that impacts our ability to purchase or sell a home. A while back, I had Kevin Parker on the show to talk about what we should know about the true cost of a mortgage and how to take that information and make a decision that's best for you. As we're moving into homebuying season for the military, I thought it would be great to bring this episode back. Here...

Earning income is a critical part of building your wealth. For most of us, that is either having a job or starting a business, but what if there is a hybrid way?  In this episode, I talk to Kirby Williams about her journey of going from an employee to buying and running the business she worked at.  Kirby is the owner of Advantage Publications, an educational publishing company where she was former...

I was recently asked the question of what are the life insurance options for infants. I think my answer was not what was expected, which made me think, this might be something that should be discussed more. In this episode, I'm going to go over life insurance for infants, the life insurance coverage available on active duty, and what and who it can cover. The show notes can be found here: https://...

Caring for elderly parents is an often overlooked budget item but one that can come with high expenses in the future. If caring for your older parents, grandparents, or loved one is important to you, make it a priority in your finances now.  In this episode, John Osarczuk shares tips for financially preparing to pay for elder care costs, what that looks like each month, and mistakes to avoid that...

Home buying and renting homes come with the territory in the military. Frequent moves lead many of us to buy or rent out of necessity, not because it's our first choice. But how can you turn that lack of control into a way to make money?  In this episode, Army veteran Joe Riley shares how you can use short-term house rentals to make money during and after your military career.  Joe and his wife ar...

Buying a car can be a big undertaking and feel overwhelming because it greatly impacts your finances. If you're not careful, you can make mistakes or miss opportunities that can cost you.  In this episode, Brendan Duebner shares tips and advice to avoid costly car-buying mistakes, the resources you can use, and the best time to buy. Brendan is a graduate of the Wharton School of Business, a Captai...

Military spouses face career challenges at every turn impacting their ability to make money and build their earning power. There's a lot of career pivoting involved for milspouses but what if you already have a skillset that can help you make money no matter where the military sends you. In this episode, military spouse Molly Rose Speed shares skills military spouses can leverage to make money, ho...

Guard and reserve members face some unique financial and career challenges compared to active duty. And there are many things to consider when deciding to go from active duty to guard or reserve.  In this episode, Certified Financial Planner, Sam Lewis discusses the financial hurdles guard and reserve members and their families face and provides advice on navigating them. He also discusses things...

Understanding the economy or not understanding can help or hurt you financially. Inflation is impacting your quality of life, but do you know how it's going to impact your retirement savings and ability to build wealth? In this episode, Certified Financial Planner™, Bryan M. Kuderna shares tips on how to handle inflation, why it's important to increase your economic literacy, and how to maximize y...

According to the U.S. Bureau of Labor Statistics, about 20% of small businesses fail in their first year, and about 50% of small businesses fail in their fifth year. With stats like that, I can understand why some might be scared of taking the leap into business, but that fear could be holding you back from the potential to do something you love and earn more. Entrepreneurship is filled with twist...

Stock trading can help you build wealth, but for many, it's can be intimidating. If you haven't been taught a trader skillset, where do you start, and what are the mistakes to avoid?  In this episode, I talk to Jason Brown, about how you can learn and grow your stock knowledge to become a confident stock trader. Jason has over a decade of stocks and options trading experience and is a graduate of...

Debt is a drag on your finances now and in the future. For many military families, debt is one of the top stressors. When your credit is maxed out, it can make extra expenses that are molehills seem like mountains you have to climb. When you're in the thick of debt, it can seem impossible to overcome, but great news, there are steps you can take to get out of debt. In this episode, I talk to Georg...

I can't believe it's almost here. MilMoneyCon23 is about a month away. I'm excited! I've been working on the conference all year, so I'm ready to get to see everyone, attend the events, and the sessions and just see it all come to life.  In this episode, I'm going to do a deep dive on MilMoneyCon23 and what attendees and sponsors can expect from the conference.  The show notes with episode links c...

Making change can be difficult. It's usually something new that takes time and motivation to stick with. But what if you created a system to help you make the changes you want in life and keep them for the long haul? In this episode, Dr. Ryan Law breaks down why change is difficult, the human behaviors behind it, and the systems you can create to improve your finances.  Ryan Law is award-winning e...

Helping others improve their financial lives can be rewarding. Do you have a passion for personal finance and want to make it a career? If you're a military spouse, now is a good opportunity to get started. In this episode, Accredited Financial Counselor (AFC) candidate Dr. Brandon Shurn discusses the 2023 FINRA Foundation Military Spouse Fellowship. We discuss what it is, employment opportunities...

If it comes down to paying taxes or getting a return, we can all say, get a tax return, hands down. But if you're getting a big fat return every year, is that the best use of your money? In this episode, I talk with tax expert, Dr. Simon Karmarkar about what getting a tax return really means for your finances, how you can better plan your finances, and taxes and resources to use.  Dr. Karmarker is...