🎙️ Episode Summary
In this episode, Omen and Rob bust the top five myths about transitioning out of the military. Drawing from personal experience and real conversations in military financial circles, they break down common misconceptions, share practical advice, and offer candid stories about life after service. The episode also features a headline segment on new legislation affecting 401(k) investments, a trivia challenge, and practical takeaways for listeners preparing for their own transition.
🗝️ Key Topics & Segments
- Headline News: New bill codifies Trump’s executive order on alternative investments in 401(k)s, opening the door to private equity, real estate, and crypto. Omen and Rob discuss what this means for retirement plans and why caution is needed.
âś…Myths About Leaving the Military (from Episode 6)
- VGLI is a ripoff
- Military discipline guarantees civilian success
- SBP (Survivor Benefit Plan) is a bad deal compared to buying term insurance and investing the difference
- You cannot touch your TSP until age 59½
- The military handles your retirement for you
- Filing a BDD (Benefits Delivery at Discharge) claim guarantees a rating prior to separation and immediate payments
- VA benefits are only available to those who retire from the military
- I’ll get 100% VA disability because my buddy did
- I’ll go to college right after separation
- I’ll cash out my TSP to start a business or buy a home as soon as I separate
- Buying a house using your VA disability rating is easy right after separation
- I can keep my current state residence and tax situation when I retire
đź’ˇ Practical Takeaways
- Don’t solve problems that don’t exist: Avoid investments you don’t understand; keep it simple and seek help when needed.
- Treat your transition like a mission: Prep early, recon your options, and don’t go AWOL on your future.
- You’re the CEO of your next mission: Civilian life comes with choices—make them count.
🏅 Host Highlights
- Oman celebrates earning his CFP® designation after years of hard work.
- Rob shares insights from his recent retirement ceremony and the importance of family seeing both sides of military life.
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Disclaimer:Everman Prosperity, LLC and Former Wealth Management, LLC are registered investment advisors in the Commonwealth of Virginia. This podcast is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell securities. All investing involves risk, including the potential loss of principal. Please consult a qualified financial professional before making any investment decisions.
