• 487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFP

  • Apr 15 2024
  • Length: 59 mins
  • Podcast
487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFP By cover art

487 | Military FI: Optimizing Your Financial Plan before Military Retirement | Daniel Kopp, CFP

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  • In this episode: survivor benefit plans, VA benefits, VSO's disability benefits, tax planning, healthcare, and blended retirement systems. This week we are joined by Daniel Kopp, founder of Wise Stewardship Financial Planning, to outline ways you can best prepare for military retirement. Together we cover pensions, navigating the Survivor Benefit Plan and additional benefits, healthcare and disability resources, as well as other financial decisions you can consider as you begin to transition out of the military. When dealing with any kind of retirement planning, taking actionable steps to prepare and get a plan in place for you and your family is essential. While everyone's circumstances may be different as they transition out of the military, there are many resources available and benefit programs you are entitled to before and after you leave duty! Daniel Kopp, CFP Website: wisestewardshipfp.comPodcast: Military to Financial Planner Timestamps: 1:26 – Introduction2:32 – Approaching Military Retirement/Blended Retirement System9:38 – Military Benefits/Healthcare15:36 – VA Benefits/Term Life Insurance22:12 – Disability Benefits/VSO’s30:17 – Survivor Benefit Plans43:13 – SBP Contingencies and Child Coverage50:41 – Tax Planning56:26 – Conclusion Resources Mentioned In Today’s Episode: Blended RetirementVA education benefits for survivors and dependentsEverything About The Military’s Survivor Benefit PlanSBP Financial Analysis ToolsDaniel Kopp Estate Planning for Military Families | Military Money Manual Podcast Episode 83Accredited VSO Representatives Transition Planning from a Military Career on the Path to FI | ChooseFI Ep 296 “Military in Transition’s Guide to The Survivor Benefit Plan: Navigating the SBP” by Forrest Baumhover How VA Disability Compensation Affects Military Retirement Pay Income Tax and Rental Properties When You’re in the MilitaryMFAAChooseFI US MilitarySubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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