Author - Forrest Baumhover

1
TSP Rollover to an IRA Account—Should I do it or Not?
2
What Military Landlords Should Know About Section 1250 Depreciation
3
5 Factors You Should Consider When Evaluating the Survivor Benefit Plan
4
5 College Planning Questions You Should Ask Yourself
5
My Term Life Insurance Policy Experience

TSP Rollover to an IRA Account—Should I do it or Not?

This is a question that I received the other day from someone who has a lot on his plate.  He’s getting his financial life in order and was trying to figure out whether a TSP rollover was the right thing.  While everyone has different perspectives and situations, there is one constant:

Any financial decision you make should be consistent with a financial plan that reflects your values and goals.

This article will discuss the pros and cons of rolling your TSP account into an IRA.  However, any decision you make should be consistent with the long-term plan or strategy you …

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What Military Landlords Should Know About Section 1250 Depreciation

Just because you joined the military, you shouldn’t have to give up the right to buy a house.   While there are many things to consider, you may:

  • Buy a starter home
  • Purchase a home that you plan to live in, fix up, and sell for profit
  • Buy a home that you plan to live in after leaving the military

Whatever the reason, things don’t always work out as planned.  When that happens, many military people become landlords.  This article looks at one of the more overlooked aspects of being an accidental landlordSection 1250 depreciation.

What is Section Read More

5 Factors You Should Consider When Evaluating the Survivor Benefit Plan

Everyone planning a military retirement has a very important decision:  “Should I take the Survivor Benefit Plan or not?”  As I’ve said previously, this is a very personal decision, and should not be taken lightly.  While the best decision might depend upon the circumstances, it’s important to note the factors that might help inform your decision.  Below are five of those factors, and the reasons why they are important.

Survivor Benefit Plan Factor 1: What sex are you and your spouse?

A generation ago, we used to take this for granted, since the military workforce was almost exclusively male.  However, …

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5 College Planning Questions You Should Ask Yourself

For many families, college planning consists of:

  • Saving as much for college as we can
  • Hoping it’s enough money to meet our children’s college goals
  • Waiting until high school to learn that it probably isn’t enough

While this might be oversimplifying the process, it does seem that a lot of families treat college planning like a ‘save first, plan later’ process.  There are a couple of concerns with this approach, which don’t normally manifest themselves until later in the planning process.  By this point, it’s too late.

What if there was another approach?  What if your college planning started much …

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My Term Life Insurance Policy Experience

Disclaimer

Sorry, but before I talk about my life insurance experience, I must disclose a couple of things.  I’m a fee-only financial planner.  My firm, Westchase Financial Planning, is a Florida-based registered investment advisory firm.  You can look up my registration document (also known as an ADV) here.  I do not have an insurance license, and cannot provide specific advice regarding insurance policies.  My clients receive unbiased advice based upon my analysis of their particular situation.  However, if I make a recommendation regarding insurance coverage, I must refer that client to a licensed insurance agent in order to implement …

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