I promised two posts ago that I would update everyone on how we have arrived at this point in our quest for our first million and in the course of this post I will, but I would like to explain my goals first to give a better overall picture of what we are doing to save for retirement.  Please note that I say first million, because I do not desire just to achieve the bare minimum!  Instead, I want to earn and save enough to attain a dream retirement, which can mean a great many things to different people.  In my mind a dream retirement would be to retire from the military after about 20 years and have enough money[…]

In the military we find ourselves moving a good amount.  During these periods of what can be overwhelming change we find that we have to spend a good deal of money and then wait to be paid back for our expenses.  This can be a stressful experience and those of you with families can run short on cash sometimes.  There is a good credit card out there that can help with these situations and allows you not to incur interest on purchases. Barclays offers the Barclaycard Arrival Plus World Elite MasterCard.  This card, simply put, is AWESOME.  Barclays with a phone call and the faxing of your orders or LES will waive your annual fee and reduce your interest rate[…]

This blog is only a few days old, but I have had a personal debate about whether to include my own financial story including both successes and failures.  I have reservations, because I feel like writing about your own successes in particular can give the impression of bragging, but after much consideration I believe that writing about my successes in combination with a healthy dose of my failures can be an inspiration to others.  I think my story will help motivate you to achieve your financial goals, because I am in a similar situation as all of you – a junior officer (JO) in the Navy.  I know that not everyone is a JO, but even on a smaller enlisted[…]

In the military most of us do our banking with one of two financial institutions, either NFCU or USAA.  Now both are fine institutions, but both of their banking products leave much to be desired.  Neither offer high interest checking or savings accounts, though the do offer a plethora of low rate auto loans and mortgages (more on this in a future post).  The lack of a high interest bearing accounts from either institution is a serious shortcoming and started me on a search for a better product. Until I discovered the Aspiration Summit checking account, I thought that I was going to need two accounts: a regular checking account and a high interest savings account.  I thought I would probably[…]

Peer pressure or the pressure to conform is ever present in our lives, particularly more so in the military.  For those of us in the military, society places a great degree of peer pressure on us to conform to military standards.  Although this type of peer pressure is for a good reason, the defense of our nation, it shows you the power of peer pressure.  Of course the pressure to conform does not always result in outcomes that are positive.  One instance of conformity which has caused an endless list of detrimental effects in our society is the mentality of ‘keeping up with the Joneses’.  This mentality is part of our human character and all of us can come up[…]