The Veteran Finance Podcast

In this episode, I discuss how to use your paystubs to optimize your tax withholdings to ensure you have proper cash flow throughout the year and aren't in for any surprises come tax time. Time Stamps: 00:00-02:37: Intro 02:37-05:50: An Example 05:50-09:27: Why Would Withholdings Be Off? 09:27-13:51: The Impacts of Good Tax Planning 13:51-15:50: Wrap Up www.baskinfp.com/post/30-optimizing-tax-...

In this episode, I walk through why sometimes it make make sense to slow down or stop saving for "retirement" entirely. I walk through an example using numbers and tools to show why having too much money someday can be a problem and is not optimal for most families. Time Stamps: 00:00-01:51: Intro 01:51—05:40: Situations When This Makes sense 05:40-09:33: An Example Scenario 09:33-12:29:...

In this episode, I talk with Martin Foster, host of Passing the Torch on how launching a podcast while on active duty has become an integral part of his personal development and sees it as a critical investment in himself. Time Stamps: 00:00-02:36 Intro 02:36-11:07: How Martin Became a Podcaster 11:07-16:42: How He got Dr. Benjamin Hardy on his Podcast 16:42-23:54: How Martin Balances His Podcast...

In this episode, I talk about the pros and cons of the main retirement account options for small business owners to setup to save on tax and diversify away from their business whether they have a small side hustle or are full time business owners. Time Stamps: 00:00-01:25: Introduction 02:43-04:50 SEP IRA 04:50-07:30 Solo 401 (k) 7:30-8:56 401 (k) 8:56-10:16 Cash Balance Pension Plan 10:16-12:40 C...

In this episode, I use historical data to discuss why it is so important to continue consistent, disciplined investment with markets at all time highs and why market timing is not likely to be a profitable strategy over the long term. Time Stamps: 00:00-01:25: Introduction 01:25-05:23 The Data on All Time Highs 05:23-08:06 Conclusion Resources: Wealth of Common Sense Data Dimensional Fund Advisors...

In this episode, we revisit a guest appearance I had on Andrew Cormier's Podcast called For the Zoomies . Andrew and I talk about finance, business, entrepreneurship and how these areas relate to cadets military members, and veterans. Time Stamps: 00:00-06:05: Introduction 06:05-09:56 Common cadet financial pitfalls 09:56-13:12 Why is whole life insurance bad? 13:12-18:10 Why are payday loans...

In this episode, I talk about how to calculate and assess your savings rate and some things to think about when deciding whether this is a healthy rate for your family. Time Stamps: 00:00-04:16: Intro and Definition of Savings Rate 04:16-5:50: Is There Such Thing as Too High of a Savings Rate? 5:50-8:39: What Stops People from Saving More? 8:39-10:50: Considerations When Reviewing Your Savings Rat...

In this episode, I talk with Steven Leapley, an executive ghostwriter and veteran entrepreneur about his path into entrepreneurship and how that has coincided with his passion for living a minimalist lifestyle. ‍ Time Stamps: 00:00-7:57: Intro to Steven 7:57-19:01: How Steven Got into Ghostwriting 19:01-31:14: Minimalism and Entrepreneurship 31:14-36:10: Steven’s Advice for His Younger Self 36:10-...

In this episode, I talk about the differences between whole and term life insurance, how to think about the principles of insurance, and how to decide what is the best policy for you. ‍ Time Stamps: 00:00-01:24: Intro 01:24-04:35: Differences between Whole and Term 04:35-05:22: Why Whole Life Insurance is Sold so Much 05:22-09:52: Why and When We Need Life Insurance 09:52-11:54: When Does Whole Ev...

In this episode, I talk about Dependent Care FSAs, a new benefit now available to military families. I discuss what they are and how to think about using them in the context of your financial situation as well as childcare expenses in general. ‍ Time Stamps: 00:00-01:18: Intro 01:18-02:41: What a DCFSA Is 02:41-03:49: How to Qualify 03:49-07:27: When to Use It: 07:27-10:40: An Example 10:40-13:30...

In this episode, I talk about how to decide whether or not buying a house in a high interest rate environment makes sense for you and your family. ‍ Time Stamps: 00:00-2:12: Intro 2:12-5:31: Duration of Ownership 5:31-9:57: Does it Fit Your Budget 9:57-13:33: Housing Market Conditions 13:33-15:35: Conclusion www.baskinfp.com/post/20-does-it-make-sense-to-buy-a-house-right-now Resources: NerdWallet...

In this episode, I talk with Brandon Lovingier, the Enlisted Money Guy about investing in the TSP, military retirement, and aligning your money with your values. Time Stamps: 00:00-01:35 Intro to Brandon 01:35-10:58 Investing in the TSP with and Without a Pension 10:58-12:32 Calculating Your “FI” Number 12:32-20:16 Protecting Loss of Life or Income with Insurance 20:16-28:38 How to think about the...

In this episode, I talk about five key tax planning opportunities to consider before the end of the year to lower your lifetime tax bill. ‍ Time Stamps: 00:00-01:41: Intro 01:41-3:24: Withholdings and Estimated Payments 3:24-6:46: Capital Loss and Gain Harvesting 6:46-8:36: Roth Conversions 8:36-9:52: Retirement and HSA contributions 9:52-12:18: Charitable Contributions 12:18-13:41: Conclusion www...

In this episode, I talk about basic estate planning that all military and veterans need to get in place. This includes completed documents, avoiding probate with designated beneficiaries, and setting up a legacy drawer. Time Stamps: 00:00-01:16: Intro 01:16-6:56: Documents 6:56- 8:56: Avoiding Probate 8:56-10:12: Legacy Folder 10:12-11:50: Conclusion --- More of Baskin Financial Planning: Think yo...

In this episode, I talk with 2013 USAFA Graduate and Air Force Veteran Evan Kaufman from WeVett. Evan and I discuss what he does at WeVett, some pros and cons of the VA loan, and considerations during military transition. Time Stamps: 00:00-9:45: Intro to Evan and WeVett 9:45-28:35: VA Loan Myths, Pros, Cons 28:35-37:31: When a Conventional Loan Makes Sense 36:42-43:52: Loans During Military Trans...

In this episode, I talk about why having emergency savings is crucial to your financial health, especially in the face of a potential government shutdown or loss of income. Time Stamps: 00:00-1:32: Intro 1:32- 2:09: What is an Emergency Fund 2:09-6:27: How Much to Hold 6:27-8:13: Where to Put Savings 9:39-11:30: Conclusion Resources Mentioned: ⁠⁠⁠ BankRate List of HYS Accounts --- More of Baskin F...

In this episode, I talk about how to decide whether the Reserves or National Guard is worth it for you when you transition out of the military! Time Stamps: 00:00-1:53: Intro 1:53- 7:47: Quantitative Considerations 7:47-12:26: Qualitative Considerations 12:26-13:11: Conclusion Resources Mentioned: ⁠⁠Blog post on whether the Reserves or National Guard is worth it --- More of Baskin Financial Planni...

In this episode, I talk about why getting life insurance in place before you transition out of the military is a critical decision to get right! Time Stamps: 00:00-1:02: Intro 1:02-3:16: Why Life Insurance Is Critical During Transition 3:16-6:05: Determining Your Insurance Need 6:05-9:11: How VGLI is Much More Expensive than Commercial Term 9:11-10:16: How to Think About Financial Risk in Front of...

In this episode, I talk about what high yield savings accounts are and when they might make sense to use for excess cash. Resources Mentioned: BankRate List of HYS Accounts MaxMy Interest --- More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠⁠⁠ Questions or comments, drop me a note at:  ⁠⁠⁠⁠⁠⁠erik@baskinfp.com⁠⁠⁠⁠⁠⁠

In this episode, I talk with Naval Academy Graduate and Veteran Aaron Ingram from PreVeteran about his transition out of the military and into Real Estate investing and his work with PreVeteran to help re-shape military transition. Timestamps: 00:00-1:52: Intro 1:52-9:26: Aaron's Transition Story 9:26-24:57: Real Estate Investing 24:57-30:49: Using Your Superpower 30:49-32:19: Wrap Up and Wher...

In this episode, I talk about the recent down grade of the U.S. credit rating by Fitch and what that means and does not mean in the short and long term. Resources Mentioned: Trading Economics Rating --- More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠⁠⁠ Questions or comments, drop me a note at:  ⁠⁠⁠⁠⁠⁠erik@baskinfp.com⁠⁠⁠⁠⁠⁠

In this episode, I replay a recent guest appearance I had on the Only Fee Only Podcast where they interview fee-only financial planners about their background and business.  --- More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠⁠⁠ Questions or comments, drop me a note at:  ⁠⁠⁠⁠⁠⁠erik@baskinfp.com⁠⁠⁠⁠⁠⁠

In this episode, I talk about the VA Disability process, benefits, and things that military members need to know at all stages of service. Time Stamps: 00:00-2:43: Intro 2:43-4:23: Types of VA Disability Claims 4:23-6:19: Process 6:19- 7:24: What They Are Looking for 7:24-14:28: Benefits of the Levels of Disabilities 14:28-18:14: Other Things to Know 18:14-20:33: Conclusion Resources Mentioned: VA...

In this episode, I discuss with Brandon how he got started in the military finance space with Start 100K, Your Virtual Paraplanner, and Enlisted Money and what he is working on to deliver financial planning to enlisted military members.   Time Stamps: 00:00-2:18  Intro to Brandon 2:18-6:15 How Brandon Got Started into the military finance space 6:15-17:00 Enlisted Money and the future of military...

In this episode, I talk about the six mistakes members commonly make with their TSP and how you can avoid them!   --- More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠⁠⁠ Questions or comments, drop me a note at:  ⁠⁠⁠⁠⁠⁠erik@baskinfp.com⁠⁠⁠⁠⁠⁠