MILMO Show

Getting a will is something talked about quite frequently in the military. They won't let you deploy without one. But have you given thought and consideration to who you select as your executor and the dynamics of your family members after your death?  In this episode, Certified Executor Advisor (CEA) David E. Edey makes the case for why everyone needs to appoint an executor and what it can cost i...

Free financial counseling is offered to the military community but no-cost financial planning is new, thanks to a program called Advisors Give Back.  In this episode, financial adviser and veteran, Garrett Dearden shares a free new resource that can help you with your finances.  We talk about: What Advisors Give Back is and how it works How it's different from financial counseling Who can use it T...

Enrollment for the new Dependent Care Flex Spending Account is now open until December 11th, 2023. According to the Office of Financial Readiness, the DCFSA is a pre-tax account used to pay for eligible dependent care services such as child or adult day care. If you have kids, you know childcare costs can break a family's budget and determine a military spouse's ability to work or go to school. Us...

What are you planning on passing down to the next generation? People often focus on things like money, furniture, or jewelry, but what about financial knowledge? Teaching your kids financial literacy now can help them have financial success long after you're gone.  In this episode, Jasmine Paul shares why it's important to teach your children financial literacy early, how to do it, plus how you ca...

There are many resources to help active-duty service members and their families with money, but in the past, veterans haven't had the same resources to help them with personal finance. But great news, that is changing.  In this episode, Accredited Financial Counselor Heath Carelock shares the financial resources available to veterans through a newly launched VetCents. This private and public partn...

Happy Veteran's Appreciation Month! It's that time of year to celebrate our veteran community. It's also the tail end of Veteran Small Business Week, which, as a veteran small business owner, I'm a fan of. In honor of both, today's guest is a fellow Air Force veteran and small business owner, as she's here to help all of us break into the world of government contracts.  In this episode, Kirstie Fl...

It's the season of tax talk. You're starting to see more and more news and social media posts to begin preparing for tax season. Me included. I recently saw a post on tax gain harvesting and wanted to learn more about what that is and who should be harvesting. In this episode, Sean Mullaney breaks down tax gain harvesting and how people can use it in their tax planning. We also discuss the importa...

Many of us want to make the holidays special but worry about the financial strain that often comes with it. That's because the holiday season sees a big increase in spending on gifts, travel, decorations, and entertainment. There's pressure to buy gifts and make memories for family and friends, which leads to overspending. To make all that happen, it's common for people to rely on credit cards to...

If you're thinking about buying a home in 2024, there might be rough water. Whether you're a first-time homebuyer or an experienced homeowner, there are a lot of things to consider before making this important decision and the conditions you make them in.  In this episode, David Ball discusses what you need to know to get ready for home buying in 2024. From the current state of real estate and wha...

Finding financial success on active duty can be difficult. There are a lot of challenges like high cost of living, spouse un and underemployment, and deployments and mobilizations. The good news is there are people and organizations helping, like the Air Force Aid Society.  In this episode, I talk to the former CEO of the Air Force Aid Society, Kaleth Wright, about the financial pain points servic...

We see money messages everywhere we go. There are advertisements on streaming services, billboards, in social media, and even podcasts that encourage us to consume and buy more. Buying more increases our lifestyle, not our wealth. How can we see past all of that each day to find our own financial clarity?  Army Veteran and Certified Financial Planner, Christopher Manske shares the common money ill...

Trusts can play a crucial role in helping plan your financial future by providing benefits like avoiding probate or tax efficiency and financial planning strategies like providing for special needs children. But they cost money and can be complicated. In this episode, Certified Financial Planner Isidore Ogoussan shares what trusts are, how they work, the expense, and who they are for.  The show no...

Saving money on your childcare expenses is getting ready to get easier for service members and their spouses. The new Dependent Care Flex Spending Account is starting soon and can help you save pre-tax dollars to pay for your childcare expenses each year, but how does it all work, and when does it start? In this episode, Jennifer Walker, a Navy veteran and the Executive Director for Dependent Care...

Army veteran and serial entrepreneur Adam Bird shares strategies for effectively managing and growing multiple businesses. Adam discusses his journey from the military to becoming the founder of three successful companies in three different industries. Adam's memory of where he was on 9/11 and the immediate effects His motivation for becoming an entrepreneur after leaving the military Tips for hav...

The state of the economy has everyone feeling the squeeze. It's not a great feeling and may have you thinking of ways to work your finances. One of those ways could be becoming part of the FIRE movement or Financial Independence Retire Early. Or just part of the Financial Independence movement.  I thought now might be a good time to bring back a special episode I did with Doug "Nords" Nordman on F...

The sun is setting on the student loan payment pause. On September 1, 2023, interest will once again start accruing on your student loans. Payments will restart sometime in October.  It's been a hot minute since many people's budgets have included student loan payments. For many, preparations need to be made to make sure you can make payments without a negative impact on your finances and quality...

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...