Today as a Military Spouse - Listen and Laugh

Today as a Military Spouse - Listen and Laugh

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Image: – Things I learn as a Civilian Male Military Spouse by Taurus James – Macho Spouse

 

My wife has a bit of a challenge now as she adapts to her new position. I asked her how her day went and she told me. Today as a Military Spouse, I learned to Listen and Laugh.

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Taurus M. James Male Military SpouseTaurus James is the 2016 Armed Forces Insurance Military Spouse of the Year from Wright Patterson Air Force Base.  Taurus is a 20-year civilian male military spouse and stay-at-home-dad. He is also a minister and composer of Moody instruMental Music. Taurus is a professional IT Consultant and Web Developer, and he built and maintains the Machospouse.com website for free. Find out more about Taurus through his blog:

"Faithwalk Music: Faith, Music and Life of a Moody instruMental Musician"

See also...

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A Resource Worth Checking Out

A resource that is worth checking out is SpouseLink.org.  Their media team describes SpouseLink.org as a "free website linking military spouses together through supportive, informative, and inspiring content."  That sounded interesting enough, so we decided to take their website for a little test-drive.  What we found is a clean, easy-to-navigate site that's full of solid information that includes  posts  ranging   from  spouse  careers  and  financial  advice  to   parenting  and  Military  transitions.  SpouseLink.org is actually a product of AAFMAA (American Armed Forces Mutual Aid Association), a non-profit membership association supporting our military community with insurance, financial planning, and survivor assistance for widows and widowers.  Guys, you will notice that their spouse content is a little "feminine heavy."  No worries, we're teaming up with them to help share some of our stuff from this website.  So they are well aware that male spouses exist!

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Conversations from the Men's Room - What is the

MensRoomImage.jpgOne of the great resources we have at Macho Spouse is the Men's Room for Military Spouses (sorry ladies, this is a private Facebook page designed for all male military spouses only).  We plan to start sharing some of the more informative/interesting conversations on our website, the thread below is our first "share."  Some of the names have been hidden for privacy purposes, see if you can figure out which names are fake...

 

Jar Jar Blinks: OK, what is this "Rule of 72?"

Yoda: Interest multiplied by time equals 72.

C-3PO: If you're not good at exponential math, it's a quick way to estimate how long your investment will double, given an interest rate. For example: if a CD is earning 3%, then it will double in value in 24 years (72/3=24)

Yoda: To double your investment.

Yoda: ^C-3PO's way is easier to follow. Way easier.

Jar Jar Blinks: So where do these investments live? Seriously, do savings accounts work the same way, assuming you can find one that offers interest?

Yoda: NFCU has a 3% CD right now.

C-3PO: It's all a matter of risk vs. reward/return. The S&P 500, aka TSP C Fund, returned about 30% last year. But it was down 37% in 2008.

Yoda: I was taught to expect a 10% rate of return on index funds back in 06, so my ROTH would double in 7.2 years.

‪Jar Jar Blinks: I guess I have a trust issue... Can I trust the folks at USAA to steer me in the right direction eggs

Jar Jar Blinks: Eggs... Heheheh

Jar Jar Blinks: When asking to set up investments?help

Yoda: Not 100%. Their funds are kind of expensive compared to vanguard and the TSP. But it's better than nothing and their life insurance is fairly priced.

C-3PO: "It depends" USAA only has 2 real index funds, but together they match the entire US stock market. They are not the MOST expensive. Their insurance is pretty well priced, but you're probably find even better at NMAA or the equivalent for other services.

Yoda: If only all branches could use NMAA...

I'm not as conservative as some. Instead if having 6 months of expenses on hand I have 6 months of expenses in a USAA ROTH IRA (no fee for withdrawals of principle with some caveats), and now put everything into ROTH TSP index funds (lowest fees in the world!).

Yoda: I do keep some liquidity (cash or accounts that can very easily be converted to cash), but since we run a surplus each month even after investing, and the military pay is as stable as it gets, I don't keep much in that account (plus I "float" all my expenses other than car insurance, so I don't pay July's expenses until mid-September (if we have to spend more I can transfer assets as needed, has never happened, but just in case), and the "float" on credit earns us rewards and consumer protections).






 Blue Cash Preferred, 6% back at the commissary, 3% back at the gas station and 1% everywhere else (no fee for military).

C-3PO: 

 I haven't dealt with them, but I hope AAFMAA is as good as NMAA.

‪C-3PO: PenFed has pretty good credit cards for military too.

‪Jar Jar Blinks: .... all these damn acronyms....

Yoda: FUBAR right?

C-3PO: (image that can't be shared)

C-3PO: Sorry about being a wiseass

‪Jar Jar Blinks: Better than being a wide ass

Yoda: C-3PO, you've got to take it easy on Jar Jar Blinks, he's a submariner. Just think how many bumps to the head he's suffered.






 But on a serious note, it's pretty cool how many guys in this group have an understanding of personal finance.

C-3PO: If I only had a nickel for every time I hit my head while underway (says the 6'3" Marine)

Mace Windu: Personally, I would put my money in a multitude of investments. Like savings,cd's, 401k, TSP, money market fund and precious metals. Never have all your eggs in one basket.

Admiral Ackbar: ‪Luke, to be excruciatingly technically correct, it's the rule of 69.3. Here's the math behind the answer:
‪http://betterexplained.com/articles/the-rule-of-72/
I like the way they cheat by assuming that for small interest rates, the natural log of the quantity (1 + interest rate) is approximately equal to (interest rate). So it's not much of a stretch of radcon math to assume that 69.3 is about the same as 72.
You can also use the math to figure out when you'll be financially independent:
http://betterexplained.com/?s=rule+of+72

Luke Skywalker: I think NFCU has a special going on that if you open an IRA with $100 they will give you $100. I have 4 IRA's at USAA, IRA at NFCU, TSP and a 403(b) at Fidelity. Saving about $500 a month between all the IRA's.

‪Lando Calrissian: Boy you guys are starting to make me worry about my future. Where do I start when I have no job and only a limited amount that my wife has volunteered to me over the years in some sort of retirement account?

Yoda: ‪Lando, my wife and I each maxed out our Roth IRA's for her first four years of service so we could build up our emergency fund (with the stability of military careers I feel as though the ROTH IRA is a good place to stash an emergency fund that is a very low probiotic of being utilized).






 Now all the money goes into her TSP, but it's our retirement account.

 

**If you are a male military spouse and would like access to this private page, please send a request through Facebook and we'll usher you in as soon as possible.