Operation Retirement Readiness

Mike Hunsberger & Amy King
  • 5.0 (3)
  • INVESTING
  • UPDATED BIWEEKLY

Amy & Mike, 2 CERTIFIED FINANCIAL PLANNER™ Professionals, talk about how military members can prepare for transition and how Veterans can prepare for ultimate retirement. Topics include: military benefits like SGLI, Survivor Benefit Program, Thrift Savings Plan, and GI Bill as well as budgeting, investing, taxes, and college planning. Disclaimer: This podcast represents the views of the hosts and guests. It's for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. It is not individual advice.

  1. APR 30

    MOAA Membership Benefits with Lila Quintiliani - S2E16

    This episode features Lila Quintiliani from the Military Officers Association of America (MOAA), discussing the organization's role in advocating for military benefits, providing resources for transitioning service members, and supporting veterans through charitable programs. Learn about how MOAA helps with benefits education, career transition, and charitable relief efforts. Key Topics MOAA's legislative advocacy for military benefits Resources for military transition and retirement Charitable relief and scholarship programs for military families Chapters 00:00 Introduction to MOAA and Lila Quintiliani 04:47 Understanding MOAA's Mission and Membership 07:31 Financial and Benefits Counseling Services 10:32 Transitioning from Military to Civilian Life 13:40 Navigating Medical Benefits and Medicare 16:40 MOAA Charitable Programs and Crisis Relief 20:36 Engaging with MOAA and Educational Resources 23:46 Personal Reflections and Insights from Lila 27:35 Conclusion and Resources for Veterans You can find out more information about MOAA at www.moaa.org  MOAA Call Center - 800-234-6622 Operation Retirement Readiness:  www.operationretirementreadiness.com Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

    32 min

  2. APR 16

    S2E15 - Tax Returns for Military Families

    In this episode, Amy and Mike explore the critical aspects of reviewing and understanding your tax return, especially for military families. They discuss key numbers like adjusted gross income, common mistakes, deductions, credits, and strategic planning tips to optimize tax outcomes. Key Topics Reviewing tax returns for accuracy Understanding adjusted gross income (AGI) Common tax mistakes for military families Maximizing deductions and credits Strategic tax planning for retirement and transition years Chapters 00:00 Understanding Tax Returns: An Overview 02:16 Key Components of a Tax Return 05:08 Income Surprises for Military Families 08:18 Deductions vs. Credits: What You Need to Know 11:03 Planning for Future Tax Years 14:02 State Tax Nuances for Military Families 17:03 Maximizing Tax Credits 20:22 Common Mistakes and How to Avoid Them 23:14 The Importance of Reviewing Your Tax Return Note: The tool noted at 01:50 is not AI. Please do not put tax returns in AI.  Operation Retirement Readiness:  www.operationretirementreadiness.com Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

    44 min

  3. APR 8

    Combat Zone Tax Exclusion TSP Contributions with Becky Noss

    In this detailed interview, Becky Noss from Healthy Wealth Financial explains the complexities of Combat Zone Tax-Exclusion (CZTE) contributions to the TSP, especially for military personnel deployed in combat zones. Learn how to maximize benefits, avoid common pitfalls, and ensure proper handling of CZTE funds to optimize your retirement planning. Takeaways Always verify your LES and benefits to ensure correct CZTE crediting. Work with a military-savvy financial advisor to navigate complex rules. Understand that growth on CZTE contributions is taxable, contrary to common misconceptions. Plan your contributions based on your deployment length and financial goals. Use in-plan conversions to optimize tax benefits during deployment. Chapters 00:00 Introduction to Combat Zone Tax Exempt Contributions 10:14 Tax Implications of CZTE Money 17:38 Protecting Yourself from Tax Missteps Becky Noss - https://www.healthywealthfinancial.com/ Operation Retirement Readiness:  www.operationretirementreadiness.com Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

    33 min

  4. MAR 25

    TSP In-Plan Roth Conversions w/ Rob Moore

    Join us as Rob Moore from Everman Wealth and Prosperity discusses the ins and outs of in-plan Roth conversions within the TSP. Learn who should consider this strategy, the tax implications, and how to navigate the complexities for optimal retirement planning. Key Topics In-plan Roth conversions within the TSP Tax implications and planning for Roth conversions Strategies for filling tax brackets and managing RMDs Chapters 00:00 Introduction to TSP In-Plan Roth Conversions 04:13 Understanding Traditional vs. Roth TSP Accounts 07:00 The Mechanics of Roth Conversions 09:57 Tax Implications of Roth Conversions 12:53 Strategizing Roth Conversions 16:00 Roth Conversions During Deployment 19:07 Roth Conversions for Military Retirees 21:50 State Tax Considerations for Roth Conversions 24:56 Framework for Deciding on Roth Conversions 28:56 Tax Rate Arbitrage and Roth Conversions 31:24 Diversification Among Account Types 32:20 Tax-Free Gifts to Heirs 33:21 Understanding Marginal vs Average Tax Rates 37:42 The Five-Year Rule Explained 43:35 Cash for Tax Payments on Conversions 49:28 Scenario Analysis for Roth Conversions 51:20 Key Takeaways on Roth Strategies Rob's Website - https://www.prosperwitheverman.com/   Rob’s Podcast – The Fiscal Foxhole – Find it on your favorite podcast app Operation Retirement Readiness:  www.operationretirementreadiness.com Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

    57 min

  5. MAR 12

    Starting a Business with Katy Stevick - S2E12

    In this episode, Katy Stevick shares her expertise on transitioning from military service to entrepreneurship, covering financial planning, business startup strategies, and resources tailored for military families and veterans. Chapters 00:00 Introduction to Business After Military Service 03:48 Understanding the Purpose of Your Business 06:41 Financial Preparation for Business Launch 10:05 Navigating Income Fluctuations as a Business Owner 12:52 Setting Realistic Expectations for Business Success 15:42 Retirement Planning for Business Owners 18:58 Evaluating Business Viability and Exit Strategies 21:43 Utilizing Resources for Business Startups 24:59 Advice for Transitioning Service Members 27:55 Conclusion and Resources Key Topics Transition from military to entrepreneurship Financial planning for business owners Resources for military families and veterans Links Katy’s Firm: https://www.alignfinancialplanning.com/ Katy’s Bed & Breakfast in Fayetteville: Macpherson House https://www.macphersonhouse.com/ Military Spouse Employment Partnership:  https://msepjobs.militaryonesource.mil/msep/ MySECO:  https://myseco.militaryonesource.mil/portal/Operation Retirement Readiness:  www.operationretirementreadiness.com Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/   Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

    39 min

  6. FEB 25

    Military Transitions from the Spouse’s Perspective - Season 2 Ep 11

    In this insightful conversation, Vanessa Alanis shares her experiences as a military spouse and financial planner, discussing the emotional and financial challenges of transitioning from military life. She emphasizes the importance of early financial planning, the emotional aspects of identity loss, and the need for open communication between spouses during this significant life change. Vanessa also offers valuable advice for military spouses looking to rebuild their careers and highlights the importance of community support and networking. Takeaways The transition from military life is emotionally intense. Identity loss is a significant challenge during transition. Financial planning should start early and be ongoing. Open communication between spouses is crucial during transition. Military spouses have valuable skills and should recognize their worth. Networking within the military community can provide support and resources. It's normal to feel overwhelmed during the transition process. Understanding cash flow and financial management is essential. Health insurance can become complicated post-transition. Take time to explore career options and be patient with yourself. Chapters 00:00 Introduction to Transitioning from Military Life 06:08 The Emotional Impact of Transition 12:04 Financial Planning for Transition 17:49 Navigating Career Changes Post-Military 24:09 Advice for Military Spouses 30:02 Vanessa's Journey to Financial Planning 36:02 Final Thoughts and Key Takeaways You can contact Venessa Alanis at Blackdogwealth.com Operation Retirement Readiness:  www.operationretirementreadiness.com Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/    Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

    42 min

  7. FEB 11

    TSP Investment Options with Omen Quelvog - S2 Ep 10

    In this conversation, Omen Quelvog from Formynder Wealth Management discusses the Thrift Savings Plan (TSP) and its various investment options, including core funds and lifecycle funds. The discussion covers the characteristics of each fund, their risk profiles, and how to effectively allocate assets within the TSP. Omen emphasizes the importance of understanding one's investment strategy and not overcomplicating the investment process. The conversation also touches on the unique aspects of the G fund, the potential risks and rewards of the S fund, and the benefits of using lifecycle funds for those who prefer a hands-off approach to investing. Chapters 00:00 Introduction to Omen Quelvog and Formynder Wealth Management04:02 Overview of the Thrift Savings Plan (TSP) Funds 06:50 Deep Dive into the C Fund: Large Cap Investments 08:29 Exploring the S Fund: Small Cap Opportunities 12:21 Understanding the I Fund: International Investments 16:19 The F Fund: Fixed Income Insights 21:23 Understanding the G Fund: A Unique Investment Option 23:58 Exploring Lifecycle Funds: The Easy Investment Solution 30:39 Investment Philosophy: Tailoring Portfolios for Clients 35:30 Navigating Lifecycle Funds: Glide Paths and Risk Management 42:02 Crafting a Portfolio: Core vs. Lifecycle Funds Takeaways TSP offers a variety of investment options including core and lifecycle funds. The C fund is often considered the foundation of a TSP portfolio. The S fund provides exposure to small-cap stocks, which can be riskier but offer potential rewards. The I fund includes international investments, which can enhance diversification. The F fund is a bond fund that provides fixed income exposure. The G fund is unique as it is tied to the US Treasury rate, offering stability. Lifecycle funds automatically adjust risk based on the target retirement date. Investors should consider their risk tolerance and investment timeline when choosing funds. It's important to understand how different funds work together in a portfolio. Investing in TSP is beneficial, and simplicity is key to effective management. You can reach out to Omen Quelvog at 4myndr.com Operation Retirement Readiness:  www.operationretirementreadiness.com Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/    Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

    46 min

  8. JAN 29

    The Military to Government Civilian Transition S2E9

    This conversation explores the transition from military service to federal employment, focusing on the benefits, complexities, and considerations involved. Amy shares insights on military and federal benefits coordination, buyback options for military service, health care considerations, retirement income streams, survivor benefits, and special considerations for reservists. The discussion emphasizes the importance of understanding the nuances of both systems to make informed decisions for a secure financial future. Takeaways Many military members transition to federal employment for familiarity and benefits. There is significant overlap between military and federal benefits that can be coordinated. Understanding military service buyback options is crucial for maximizing retirement benefits. Annual leave accrual differs between military and federal employment, with specific rules for each. Retirement income streams can be complex, with various pensions and tax implications to consider. The military survivor benefit program is generally more generous than federal options. Reservists have specific protections and benefits that differ from active duty members. It's important to do thorough research and seek advice when transitioning to federal employment. Understanding the timing of pension benefits is key to financial planning. Just because a benefit is available doesn't mean it's the best choice for everyone. Chapters 00:00 Transitioning from Military to Civilian Employment 03:08 Understanding Military and Federal Benefits 05:59 Navigating Buyback Options for Military Service 09:03 Annual Leave and Health Care Considerations 11:59 Retirement Income Streams and Tax Implications 14:56 Survivor Benefits: Military vs. Federal 17:58 Special Considerations for Reservists 20:58 Final Thoughts on Federal Employment After Military Service You can register for Amy’s webinar here. https://events.teams.microsoft.com/event/9746255a-786d-48d8-bb9f-61023945bea8@8190aedd-e648-4bc2-bfeb-d25a944d2b64 Operation Retirement Readiness:  www.operationretirementreadiness.com Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/    Schedule a consultation with Amy: https://www.instarfp.com/contact Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.

    34 min
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About

Amy & Mike, 2 CERTIFIED FINANCIAL PLANNER™ Professionals, talk about how military members can prepare for transition and how Veterans can prepare for ultimate retirement. Topics include: military benefits like SGLI, Survivor Benefit Program, Thrift Savings Plan, and GI Bill as well as budgeting, investing, taxes, and college planning. Disclaimer: This podcast represents the views of the hosts and guests. It's for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. It is not individual advice.

Information

  • Creator
    Mike Hunsberger & Amy King
  • Years Active
    2023 - 2026
  • Episodes
    56
  • Rating
    Clean
  • Copyright
    © Mike Hunsberger & Amy King
  • Show Website
    Operation Retirement Readiness

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