Operation Retirement Readiness Mike Hunsberger & Amy King

In this show, Mike and Amy discuss the Survivor Benefit Program. They’ll cover:


Purpose of the Survivor Benefit Program (SBP) (3:17)


Overview of SBP (5:13)


Decision Timeline (12:43)


SBP and DIC (14:55)


Reserve Component SBP (16:35)


CSB Redux SBP (18:06)


Thoughts about how to make the decision (19:36)





Links:

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

In this show, Mike and Amy discuss life insurance and Servicemembers Group Life Insurance (SGLI).  Mike and Amy cover: 


SGLI Overview (2:12)


How to calculate how much life insurance you might need



Rules of thumb: 8-10 times income; 8-10 times expenses (3:57)


DIME Method (6:05)



Types of Life Insurance



Term (7:50)


Permanent (10:13)




Links:

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

In this show, Mike and Amy discuss various spending profiles in retirement.  A spending profile is a framework for how to think about retirement spending. Mike and Amy cover: 


Percentage of pre-retirement spending plus inflation (2:02)
The Retirement spending smile (3:17)
Go Go; Slow Go; No Go Phases of Retirement (8:56)

Links:

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.

In this show, Mike and Amy discuss the topic of budgeting for ultimate retirement. Mike and Amy cover:

Why budgeting for ultimate retirement is critical (1:22))
Spending Buckets: Needs/ Wants (6:09)
Retirement income sources and impact on budgeting (10:28)
Role of Annuities (12:58)
Planning for other than day to day expenses (19:06)

Links:

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.

Episode 006 Budgeting for Military Retirement

In this show, Mike and Amy discuss the dreaded top of budgeting. Mike and Amy cover: 


Importance of a Transition Budget (1:05))


Planning for new/ additional expenses (3:03)


Timing of payments during transition from active duty into retirement (6:35)


Changes in paycheck timing after transition (8:11)


Specific thoughts in preparing for your ideal next step (11:48)


Start 12-24 months before transition (15:26)


Making savings tradeoffs (16:12)


Rebuilding your cash after transition (20:09)



Key Takeaway: Saving more allows more flexibility, more options, and less stress (21:33)

Links:

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.

Episode 005 Budgeting Basics

In this show, Mike and Amy discuss the dreaded top of budgeting. Mike and Amy cover: 


Purpose of Budgeting (2:53)


Analyze Current Spending (6:22)


Prioritize Spending (7:39)


Tools to Track Current Spending (8:51)


Identify mandatory, discretionary, and infrequent expenses (11:37)


Don’t get wrapped up in someone else’s process; do what works for you (17:56)



Links:

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.