My wife and I recently took our daughters on a Disney vacation. What does this have to do with military benefits? Well, we saved a ton of money on our tickets with the Disney Armed Forces Salute discounted Park Hopper passes, and we also stayed at the Shades of Green Resort at Walt Disney World, one of four Armed Forces Recreation Centers around the world. Shades of Green is actually a military resort, run by the Army. IN today's podcast, we cover how to take advantage of these discounts, what i...
Oct 02, 2017•26 min•Ep. 33
Life Insurance is one of the most important parts of your financial toolbox. It provides money to your family members when they need it the most. In today's podcast, we discuss life insurance as it pertains to military members, veterans, and their families. We discuss why you and your family members need life insurance, the types of life insurance, where to buy it, how to find the best, deal, what to look out for to make sure you're covered, and much more. This is one episode you don't want to m...
Sep 12, 2017•49 min•Ep. 32
Did you know it may be possible to upgrade your military discharge characterization? Today, our expert, a retired US Air Force Judge Advocate, walks us through the military Discharge Review Board Process and how to apply to have your discharge upgraded. Special attention is given to recent DoD guidance directing leniency for discharge upgrades for veterans who have symptoms from Post-Traumatic Stress Disorder (PTSD) and Traumatic Brain Injuries (TBI). Learn who is eligible for a discharge upgrad...
Mar 15, 2017•47 min•Ep. 31
Military members are frequently on the move. That's part of the gig, and part of the fun! In this podcast, we discuss how you can automate your finances so you don't have to worry about your money during a PCS, TDY, or deployment. Tips include automating your income, investments, expenses, paying bills, and tracking everything with free software. We also cover how to avoid mistakes with automation and how to protect yourself while you are away from home. These tips will help you save time, money...
Feb 17, 2017•37 min•Ep. 30
TRICARE is the military medical program, and is available to active duty, retirees, Guard / Reserve, and their family members. In today's podcast, we're doing a roundtable interview to discuss TRICARE - the good, the bad, and the ugly. In this episode we primarily focus on TRICARE Prime and TRICARE Reserve Select. We cover a lot of ground, including some areas where TRICARE shines, some of the issues we've experienced, and some of the areas where we would like to see improvements. Overall, TRICA...
Dec 06, 2016•36 min•Ep. 29
The Thrift Savings Plan is the government version of a 401k. It is used by military members, civil service workers, and other employees of government agencies. In today's podcast, we discuss Thrift Savings Plan contributions. Topics covered include the Traditional TSP, Roth TSP, annual contribution limits, catch-up contributions, making TSP contributions while deployed (including tax-exempt contributions), TSP contributions when you have more than one retirement account, contributing to both the...
Nov 18, 2016•22 min•Ep. 28
Most military members know how active duty retirement works. But do you know how retirement works through the National Guard and Reserves? The Reserve retirement system is based on earning Retirement Points for your service. In this Guard & Reserve Retirement Point Guide, we discuss what Points are, how to earn them, the minimum and maximum Points you can earn in a year, how to translate your active duty service time to Points for the Guard or Reserves, how many points the different types of...
Sep 19, 2016•45 min•Ep. 27
Did you know that many military veterans don’t want to file a service-connected disability claim with the VA when they separate from active duty? There are many reasons for this, but some of them aren’t based on facts. Today we’re going to cover 12 VA Disability Claim Myths and the facts you need to know when filing a VA service-connected disability claim. Some of these myths surround who is eligible to apply for veterans disability benefits, how a disability rating may impact your future career...
Aug 10, 2016•35 min•Ep. 26
The Survivor Benefit Plan provides a continued source of income for survivors of military retirees. If a military retiree elects to buy into the Survivor Benefit Plan (SBP), his spouse or other eligible survivor will be eligible to receive 55% of the retiree’s retirement pay after the retiree passes away. This can provide ongoing income and stability for survivors, but it does come at a cost, as retirees must buy into the plan. In this podcast, we dive into the Survivor Benefit Plan details and ...
Jun 30, 2016•35 min•Ep. 25
My family and I just returned from an amazing family vacation on the Hawaiian island of Oahu, where we stayed at the Hale Koa, an Armed Forces Recreation Center located in the Waikiki Beach area of Honolulu. The Hale Koa is one of four Armed Forces Recreation Centers around the world run by the Army. AFRCs are resorts that were built for the military and are exclusively for use by military members, retirees, DoD civilians, and other authorized guests. The Hale Koa offers very affordable room rat...
Jun 21, 2016•44 min•Ep. 24
How Long Should You Keep Military Records? Forever. Your military records are important for a variety of reasons. In this episode, we discuss why you need to keep excellent copies of your military records to ensure you have access to your military and veterans benefits. Simply put, no system is perfect, whether it be at the organizational level or national level. It is strongly recommended that every veteran maintain copies of their own records and frequently verify the correct information is re...
Apr 29, 2016•20 min•Ep. 23
Did you know that military veterans who join the Civil Service or other Federal agencies are eligible to buy back their military time and apply it to their federal time? Doing so helps them earn leave at a faster rate, vest their TSP contributions more quickly, and even retire earlier. Want to learn more? Then stick around for our interview with Eddie Wills, as he explains how to buy back your military time with a Military Service Credit Deposit.
Apr 01, 2016•42 min•Ep. 22
Did you know the Post-9/11 GI Bill can be transferred to your spouse or children? This podcast discusses how to use the Post-9/11 GI Bill benefits to pay for your spouse or children's education. We tell you how to transfer your GI Bill benefits, and why you should do this as soon as possible. And don't worry - you can change your mind at any time without penalty or loss of benefits. We also discuss other ways to pay for your child's education if the Post-9/11 GI Bill isn't enough to cover all co...
Mar 09, 2016•33 min•Ep. 21
Have you ever thought about starting a business? If you are like many military veterans, the answer is yes! Military veterans make good entrepreneurs for a variety of reasons. But they may have a disadvantage - they often don't know where to start. Let me introduce you to Todd Conner, a military veteran and the founder of Bunker Labs, an incubator for military members and veterans. Bunker Labs is non-profit startup incubator helping veterans launch startups by providing resources, connecting the...
Oct 27, 2015•42 min•Ep. 20
Health care is a topic most military members don't have to think much about while they are serving. Their health care needs are taken care of them and their families so they can concentrate on their duties. But things change quickly once you remove your uniform for the last time. In this podcast, we cover the various health care options for military veterans and their family members, including special programs for military members who receive an involuntary separation, active duty retirees, memb...
Sep 01, 2015•28 min•Ep. 19
In this podcast, I discuss the military to civilian transition, and some of the areas I struggled with during my transition. I dive right into my story, where I discuss some of the struggles I went through during the transition into the civilian sector, and how I would handle things differently if I were to make the transition again. Hopefully you can learn from some of my mistakes and avoid them! Read the show notes here - http://themilitarywallet.com/military-to-civilian-transition-tips/...
May 06, 2015•27 min•Ep. 18
Can you get out of the military early? More importantly, should you get out of the military early? This question is addressed on many levels. Topics covered include how to get out of the military early, the impact an early separation could have on your future, and why staying in the military for ht duration of your contract is almost always he right decision for your first enlistment term. The experiences, skills, benefits, and friendships you will earn along the way make the military a once-in-...
Apr 04, 2015•23 min•Ep. 17
Is the military still a good career option? The military is currently in the middle of the largest drawdown since the end of the Cold War. And unfortunately, some servicemembers are being laid off. One listener wants to know if now is a good time to join the military, or should he do something else for a career? In this episode, we're going to discuss the amazing opportunities and benefits available to military servicemembers. These benefits will last a lifetime, and will be valuable whether you...
Feb 26, 2015•22 min•Ep. 16
The Post-9/11 GI Bill is one of the most valuable veterans benefits available, and it's also very easy to use! In this podcast, we walk you through the process of qualifying for the Post-9/11 GI Bill and what the benefit covers, including how to determine the maximum tuition rates, and your BAH or housing allowance. We also discuss how to actually use the Post-9/11 GI Bill (hint: all you need to do is qualify for the benefit, be accepted to your school, and your school should do virtually everyt...
Feb 23, 2015•32 min•Ep. 15
The 2015 Military Compensation and Retirement Modernization Commission Recommendations were just released at the end of January, 2015. The MCRMC is a 9-person Panel that was charged with examining military and veterans benefits with the goal of making recommendations to Congress. They came back with a 300 page report and 15 core recommendations, including overhauling the Military Retirement system, dismantling TRICARE and replacing it with a commercial health insurance program, limiting Tuition ...
Feb 01, 2015•46 min•Ep. 14
Are you interested in joining the military? Perhaps you want to join the Guard or Reserves or even go back on active duty after a break in service. Before you can join the military, you will need to take a physical at MEPS, the Military Entrance Processing Station. But before you can even take the physical, you need to send in a medical pre-screen form with your medical history. Today we are going to walk you through the process of filling out that form, getting a physical through MEPS, and if r...
Jan 19, 2015•29 min•Ep. 13
How much do you know about Guard and Reserve retirement benefits? Today we're going to dive into Guard and Reserve retirement benefits and discuss what it takes to earn a retirement (how many years served), how retirement pay is calculated (based on the points system), and when you can begin receiving your retirement pay. We also discuss other valuable benefits including retiree health care options for retired Guard and Reserve members, when you can begin receiving benefits through TRICARE, base...
Jan 12, 2015•49 min•Ep. 12
How much do you know about active duty military retirement benefits? Today we're going to dive into active duty retirement benefits and discuss what it takes to earn an active duty retirement, how retirement pay is calculated, how much you can expect to bring home during your retirement, and why Cost of Living Adjustments (COLA) are much more valuable than you think. We will also discuss other valuable benefits including retiree health care through TRICARE for the retiree and his or her dependen...
Dec 13, 2014•46 min•Ep. 11
Should you join the Guard or Reserves after leaving active duty? When I was on active duty, I didn’t give it much thought. My perception at the time was that the Guard and Reserves were basically the same as active duty, just on a part-time basis. In some ways, that is true. But there is so much more to the Guard and Reserves than that. Today, I invite a special guest on our show to discuss how the Guard & Reserves are different from active duty, some of the benefits you can receive while se...
Nov 20, 2014•46 min•Ep. 10
The military Tuition Assistance Program is one of the most valuable benefits available to active duty servicemembers. In this podcast, we discuss the general details of the Tuition Assistance program, including eligibility, how much the benefit is worth each year, which programs you can take, and more. We also discuss strategies to complete your degree while on active duty, with tips for testing out of college classes and how to arrange your schedule so you can more easily take classes. Using th...
Nov 13, 2014•21 min•Ep. 9
Have you thought about what you are going to do after you leave the military? Whether you’re one and done, or you stay in until retirement, you will one day leave the military. And the steps you take today, can go a long way toward determining your post-military future.Today, I’m excited to bring a guest on our show, Mark Deal, a former Nuclear technician in the Navy. He shares his story of self-development and planning for the future, even when he didn’t know what that future would be. In many ...
Nov 04, 2014•37 min•Ep. 8
Should you join the military? Which benefits are available to you if you join the military? Which branch of service should you join - Air Force, Army, Marines, Navy, Coast Guard? Are you even qualified to join the military? Officer or enlisted? How long should you join? Which jobs are available? We cover all of these questions, and much more in this episode of The Military Wallet Podcast.
Oct 29, 2014•33 min•Ep. 7
Are you interested in joining the military? We cover most of the benefits you can expect to receive if you serve on active duty. We cover topics such as base pay, special duty pay, housing and food allowances, uniform allowances, free health care benefits, tuition assistance benefits, the GI Bill, the Thrift Savings Plan (like a government 401k plan), the VA Home Loan, on-base benefits, and much, much more. You don't want to miss this episode if you are considering joining the military!
Oct 22, 2014•34 min•Ep. 6
The VA Disability compensation system is complex - so is the math used to determine combined service-connected disability ratings. We'll walk you through how the math works so you can understand how your overall VA disability rating is calculated. The combined VA disability rating is used to determine your disability compensation payments and which other benefits you may be eligible to receive.
Oct 15, 2014•12 min•Ep. 5
Force Shaping and Involuntary Separations - How to Handle Being Laid Off from the Military. The military is cutting their end strength across all branches of the military, including active duty, Guard, and Reserves. Find out how you can decrease the odds of being involuntarily let go, and what you can do if you are informed that you will lose your military job, including financial implications, benefits, civilian career options, transitioning to the Guard or Reserves, and how to handle it emotio...
Oct 08, 2014•49 min•Ep. 4
