Description

In this episode, Omen and Rob dig into one of the most common questions for service members and federal employees: “Should I save in my TSP, open an IRA, or just YOLO and spend?” They break down the pros and cons of each savings vehicle, share personal stories (including a surprise Great Dane puppy!), and offer practical advice for building a balanced financial life—without sacrificing fun.

📰 This Week’s Headline

Government Shutdown & Your Investments: The hosts discuss the looming federal government shutdown and its impact on the stock market. Despite the headlines, history shows markets are surprisingly resilient during shutdowns. Rob and Omen emphasize the importance of staying the course and not letting fear-based news drive your investment decisions.

💡 Key Topics & Takeaways

• Savings Frameworks: The 50/30/20 rule and why starting with 20% savings (even if it feels painful) is a solid goal. How to automate savings and make small, manageable changes over time.
• TSP vs. IRA: Why getting the match in your TSP is “free money.” The flexibility and benefits of IRAs, including spousal IRAs for military families.
• Roth vs. Traditional: How to decide between Roth and traditional accounts based on your effective tax rate and life stage. Why a mix of both can be smart, and how Roth IRAs can act as a backup emergency fund.
• Order of Operations: Step-by-step strategy: Get the TSP match, max out your IRA, then max out TSP, and finally save in a taxable brokerage account.
• YOLO (You Only Live Once): Why responsible saving means you can also spend on things that matter to you—whether it’s a dream vacation, a new car, or even a giant puppy.
• Military-Specific Tips: Special considerations for service members, including how allowances affect TSP contributions and the importance of factoring in pensions and benefits.

🏆 Game Time Segment

Rob challenges Omen with a trivia question: Which of the following is a real example of someone using a Self-Directed IRA to generate retirement income? A) Racehorse in the Kentucky Derby B) Spaceship in a video game leased for virtual rent C) Haunted house attraction D) Vending machine empire

📚 Resources & Links

• Kiplinger: What Does a Government Shutdown Mean for Stocks?
• Rob Moore’s 1% Bump Article
• 50/30/20 Calculator - Email fiscalfoxhole@gmail.com to request your copy!
• Book a Consultation with Rob Moore
• Contact | Get In Touch — Formynder Wealth Management

📬 Get In Touch

Have questions or want your topic featured on the show? Email: fiscalfoxhole@gmail.comBoth Rob and Omen are accepting new clients and happy to chat about your financial game plan.