Author - Forrest Baumhover

1
Does Your Financial Plan Pass the Sleep Test?
2
What is the Fiduciary Standard and Why Do I Care?
3
Term Life Insurance Vs. Survivor Benefit Plan—A Side By Side Comparison
4
Back to Basics – How Much Money Should I Have In My Emergency Fund?
5
Does the IRS Owe You Money?

Does Your Financial Plan Pass the Sleep Test?

SleepWith the exception of my wife, my grandmother is the most inspiring person I’ve ever known. I don’t know where I would be today without her. Although we didn’t always see eye to eye, especially on financial matters, I learned an extremely valuable investing lesson from her.

Members of the Greatest Generation, my grandparents came of age during the Depression, a period marked by severe distrust of financial institutions and an extreme aversion to risk. After my grandfather died, my grandmother had to manage her finances for the rest of her life, 28 more years. The way she handled her …

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What is the Fiduciary Standard and Why Do I Care?

The Department of Labor is expected to issue its long-awaited fiduciary rule, which means that advisers who provide investment advice for retirement accounts and IRAs will now be subject to the fiduciary standard.  Which begs the questions:  “What is a fiduciary, and what does this mean when I’m looking for a financial adviser?”

As you might note, most of my articles are aimed for people who are looking to help themselves–‘how-to’s’ of sorts.  This article is aimed at people who believe they need to hire someone to help them with their financial planning needs.  This doesn’t purport to advise whether …

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Term Life Insurance Vs. Survivor Benefit Plan—A Side By Side Comparison

Caveat: This is the third article that I’ve written about Survivor Benefit Plan. It is meant to be read with the other two articles so you can formulate your own educated opinion about your personal situation, which may be different from outlined here.   This article is also the basis for a chapter for an ebook that I’m currently writing about the Survivor Benefit Plan, which I plan to release by summer.  If you’d like to receive updates, please send me an email or join Military in Transition on Facebook.  I hope you like it.

I’ve written a couple of …

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Back to Basics – How Much Money Should I Have In My Emergency Fund?

This is the next article in my ‘Back to Basics’ series. You can read my first article, on compounding interest or my follow up article on predatory lending  This article is meant for everyone. If you’re a junior enlisted person or junior officer, please share this with a friend. If you’re a leader of junior troops, feel free to use this article as a set of talking points for your one-on-one sessions. The focus of this article is to protect our junior personnel, many of whom may still be trying to get a handle on the responsibilities that military life …

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Does the IRS Owe You Money?

With-131-Million-Returns-Filed-Millions-of-Amended-Returns-Expected"IRS, 5 million people were expected to file amended tax returns for 2014, out of 131 million original filings. For 2015, the IRS expects over 150 million individual returns, which means even more amended returns can be expected.

Many amended returns actually result in a refund that would have been awarded if the original return had been filed correctly. If you prepare your own taxes, changed accountants, or had a major life change (such as change in marital status, dependents, or house move), how can you really be sure that you’re not leaving money on the table? Conversely, …

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