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PODCAST

The Veteran Finance Podcast

Erik Baskin, CFP®, CEPA®, MBA

The Veteran Finance Podcast delivers actionable weekly financial planning strategies to help Veterans optimize their money to build purpose past the 9-5. Host Erik Baskin, CFP®, CEPA®, MBA is an Air Force Academy Graduate turned financial planner and the founder of Baskin Financial Planning.

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All Episodes

00:16:07

34. The Superpowers of a Roth IRA

The Veteran Finance Podcast ·

2024/04/17

In this episode, I talk about the superpowers of the often overlooked Roth IRA account. I go through what it is, the rules around it, and the three main benefits that it provides.Time Stamps: 00:00-01:47: Intro 01:47-06:06: The Benefits of a Roth IRA 06:06-08:55 : Withdrawal Rules 08:55-11:20: Tax Free Compound Growth Example 11:20-14:30: Retirement Income Diversity Example 14:30-16:07: Wrap Up www.baskinfp.com/post/34-the-super-powers-of-a-roth-ira --- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Download

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00:17:18

33. The Financial Order of Operations

The Veteran Finance Podcast ·

2024/04/10

In this episode, I walk through my financial order of operations to give you a framework for how to allocate your money in a way that makes sense on a quantitative and qualitative basis.Time Stamps: 00:00-01:53: Intro 01:53-06:02: Emergency Fund, 401(k) Match, and High Interest Debt 06:02-09:04 : HSA, Roth IRA, and Children's Education 09:04-11:43: Max 401(k), Rental Real Estate, Lower Interest Debt 11:43-15:28: Taxable Brokerage Account, Mortgage, and Extreme Generosity

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00:11:56

32. Financial Planning Implications of the NAR...

The Veteran Finance Podcast ·

2024/04/03

In this episode, I discuss the recent $418 Million settlement by the National Association of Realtors (NAR) and it's impact on your personal financial planning situation. Time Stamps: 00:00-01:40: Intro to the Settlement 01:40-02:25: Background on the Settlement 02:25-07:39: The Changes Coming 07:39-11:56: Financial Planning Impacts and Wrap Up www.baskinfp.com/post/32-financial-planning-implications-of-the-nar-settlement-on-realtor-commissions Resources: NAR Wants VA to Change

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00:38:27

31. Building a 7 Figure Off-Market Real Estate...

The Veteran Finance Podcast ·

2024/03/27

In this episode, I talk with 2018 USAFA Graduate and Air Force Veteran Business Owner Jason Lee from Murphy Home Buyers. Jason and I discuss his journey to and passion for entrepreneurship, how Murphy plans to buy 12 homes a month this year, and what Jason sees as the future for the business. Time Stamps: 00:00-06:42: Intro to Jason 06:42-14:10: What Jason Does at Murphy Home Buyers 14:10-20:36: How Interest Rates Affect Business and How Jason Finds Private Properties 20:36-26:12: How Jason

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00:15:50

30. Optimizing Tax Withholdings to Minimize Tax Time...

The Veteran Finance Podcast ·

2024/03/20

In this episode, I discuss how to use your paystubs to optimize your tax withholdings to ensure you have proper cash flow throughout the year and aren't in for any surprises come tax time. Time Stamps: 00:00-02:37: Intro 02:37-05:50: An Example 05:50-09:27: Why Would Withholdings Be Off? 09:27-13:51: The Impacts of Good Tax Planning 13:51-15:50: Wrap Up www.baskinfp.com/post/30-optimizing-tax-withholdings-to-minimize-tax-time-surprises Resources: 2023 TurboTax Calculator

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00:14:45

29. When It Makes Sense to STOP Saving for Retirement

The Veteran Finance Podcast ·

2024/03/13

In this episode, I walk through why sometimes it make make sense to slow down or stop saving for "retirement" entirely. I walk through an example using numbers and tools to show why having too much money someday can be a problem and is not optimal for most families.Time Stamps: 00:00-01:51: Intro 01:51—05:40: Situations When This Makes sense 05:40-09:33: An Example Scenario 09:33-12:29: Incorporating Potential Estate Taxes Into Retirement Savings 12:29-14:45: Wrap

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00:37:06

28. Podcasting as Personal Investment with Martin Foster

The Veteran Finance Podcast ·

2024/03/06

In this episode, I talk with Martin Foster, host of Passing the Torch on how launching a podcast while on active duty has become an integral part of his personal development and sees it as a critical investment in himself. Time Stamps: 00:00-02:36 Intro 02:36-11:07: How Martin Became a Podcaster 11:07-16:42: How He got Dr. Benjamin Hardy on his Podcast 16:42-23:54: How Martin Balances His Podcast While on Active Duty 23:54-29:48: Why Martin sees Podcasting as in Investment in Himself

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00:12:40

27. Retirement Accounts for Small Business Owners

The Veteran Finance Podcast ·

2024/02/28

In this episode, I talk about the pros and cons of the main retirement account options for small business owners to setup to save on tax and diversify away from their business whether they have a small side hustle or are full time business owners.Time Stamps: 00:00-01:25: Introduction 02:43-04:50 SEP IRA 04:50-07:30 Solo 401 (k) 7:30-8:56 401 (k) 8:56-10:16 Cash Balance Pension Plan 10:16-12:40 Conclusion Resources: Solo 401(k) SEP IRA 401(k) Cash Balance Pension

en

00:08:06

26. Why You Should Want to Invest at All Time Highs

The Veteran Finance Podcast ·

2024/02/14

In this episode, I use historical data to discuss why it is so important to continue consistent, disciplined investment with markets at all time highs and why market timing is not likely to be a profitable strategy over the long term. Time Stamps: 00:00-01:25: Introduction 01:25-05:23 The Data on All Time Highs 05:23-08:06 Conclusion Resources: Wealth of Common Sense Data Dimensional Fund Advisors

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00:53:36

25. Guest Appearance on the For the Zoomies Podcast...

The Veteran Finance Podcast ·

2024/01/31

In this episode, we revisit a guest appearance I had on Andrew Cormier's Podcast called For the Zoomies. Andrew and I talk about finance, business, entrepreneurship and how these areas relate to cadets military members, and veterans. Time Stamps: 00:00-06:05: Introduction 06:05-09:56 Common cadet financial pitfalls 09:56-13:12 Why is whole life insurance bad? 13:12-18:10 Why are payday loans bad? 18:10-21:12 How to notice pyramid schemes 21:12-22:26 Should you sports bet?

en

00:13:08

24. Assessing the Health of Your Savings Rate

The Veteran Finance Podcast ·

2024/01/17

In this episode, I talk about how to calculate and assess your savings rate and some things to think about when deciding whether this is a healthy rate for your family. Time Stamps: 00:00-04:16: Intro and Definition of Savings Rate 04:16-5:50: Is There Such Thing as Too High of a Savings Rate? 5:50-8:39: What Stops People from Saving More? 8:39-10:50: Considerations When Reviewing Your Savings Rate 10:50-13:08: Conclusion www.baskinfp.com/post/24-savings-rate --- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Download

en

00:37:55

23. Minimalism and Veteran Entrepreneurship with...

The Veteran Finance Podcast ·

2023/12/13

In this episode, I talk with Steven Leapley, an executive ghostwriter and veteran entrepreneur about his path into entrepreneurship and how that has coincided with his passion for living a minimalist lifestyle. ‍ Time Stamps: 00:00-7:57: Intro to Steven 7:57-19:01: How Steven Got into Ghostwriting 19:01-31:14: Minimalism and Entrepreneurship 31:14-36:10: Steven’s Advice for His Younger Self 36:10-37:54:

en

00:16:32

22. Whole vs. Term Life Insurance

The Veteran Finance Podcast ·

2023/12/06

In this episode, I talk about the differences between whole and term life insurance, how to think about the principles of insurance, and how to decide what is the best policy for you. ‍ Time Stamps: 00:00-01:24: Intro 01:24-04:35: Differences between Whole and Term 04:35-05:22: Why Whole Life Insurance is Sold so Much 05:22-09:52: Why and When We Need Life Insurance 09:52-11:54: When Does Whole Ever Make Sense? 11:54-14:44 A Case Study 14:44-16:32:

en

00:13:30

21. The New Dependent Care FSA for Military Families

The Veteran Finance Podcast ·

2023/11/14

In this episode, I talk about Dependent Care FSAs, a new benefit now available to military families. I discuss what they are and how to think about using them in the context of your financial situation as well as childcare expenses in general. ‍ Time Stamps: 00:00-01:18: Intro 01:18-02:41: What a DCFSA Is 02:41-03:49: How to Qualify 03:49-07:27: When to Use It: 07:27-10:40: An Example 10:40-13:30 Conclusion and CTA ⁠www.baskinfp.com/post/21-dependent-care-fsas-for-military-families⁠

en

00:15:35

20. Does It Make Sense to Buy a House Right Now?

The Veteran Finance Podcast ·

2023/11/07

In this episode, I talk about how to decide whether or not buying a house in a high interest rate environment makes sense for you and your family. ‍ Time Stamps: 00:00-2:12: Intro 2:12-5:31: Duration of Ownership 5:31-9:57: Does it Fit Your Budget 9:57-13:33: Housing Market Conditions 13:33-15:35: Conclusion www.baskinfp.com/post/20-does-it-make-sense-to-buy-a-house-right-now Resources: NerdWallet Buys vs. Rent Calculator Bankrate Mortgage Rates --- ⁠⁠⁠⁠⁠⁠⁠⁠Download the Ultimate Military

en

00:41:51

19. Investing in the TSP and Aligning Your Money with...

The Veteran Finance Podcast ·

2023/10/31

In this episode, I talk with Brandon Lovingier, the Enlisted Money Guy about investing in the TSP, military retirement, and aligning your money with your values. Time Stamps: 00:00-01:35 Intro to Brandon 01:35-10:58 Investing in the TSP with and Without a Pension 10:58-12:32 Calculating Your “FI” Number 12:32-20:16 Protecting Loss of Life or Income with Insurance 20:16-28:38 How to think about the right amount of Risk for YOU 28:38-38:32 Matching your Money to What You Actually Want in

en

00:13:41

18. 5 Year End Tax Planning Opportunities to Consider

The Veteran Finance Podcast ·

2023/10/24

In this episode, I talk about five key tax planning opportunities to consider before the end of the year to lower your lifetime tax bill. ‍ Time Stamps: 00:00-01:41: Intro 01:41-3:24: Withholdings and Estimated Payments 3:24-6:46: Capital Loss and Gain Harvesting 6:46-8:36: Roth Conversions 8:36-9:52: Retirement and HSA contributions 9:52-12:18: Charitable Contributions 12:18-13:41: Conclusion www.baskinfp.com/post/18-5-end-of-year-tax-planning-opportunities --- ⁠⁠⁠⁠⁠⁠⁠Download the Ultimate

en

00:12:01

17. Estate Planning 101 for Military and Veterans

The Veteran Finance Podcast ·

2023/10/17

In this episode, I talk about basic estate planning that all military and veterans need to get in place. This includes completed documents, avoiding probate with designated beneficiaries, and setting up a legacy drawer. Time Stamps: 00:00-01:16: Intro 01:16-6:56: Documents 6:56- 8:56: Avoiding Probate 8:56-10:12: Legacy Folder 10:12-11:50: Conclusion --- ⁠⁠⁠⁠⁠⁠Download the Ultimate Military Finance Checklist⁠⁠⁠⁠⁠⁠, with 7 pages of critical things to be thinking about to clarify your journey to

en

00:48:35

16. VA Loans with Evan Kaufman from WeVett

The Veteran Finance Podcast ·

2023/10/11

In this episode, I talk with 2013 USAFA Graduate and Air Force Veteran Evan Kaufman from WeVett. Evan and I discuss what he does at WeVett, some pros and cons of the VA loan, and considerations during military transition. Time Stamps: 00:00-9:45: Intro to Evan and WeVett 9:45-28:35: VA Loan Myths, Pros, Cons 28:35-37:31: When a Conventional Loan Makes Sense 36:42-43:52: Loans During Military Transition 43:52-48:30: Summary and Wrap Up Resources Mentioned: WeVett Evan’s LinkedIn

en

00:11:31

15. Why an Emergency Fund Is Crucial

The Veteran Finance Podcast ·

2023/09/27

In this episode, I talk about why having emergency savings is crucial to your financial health, especially in the face of a potential government shutdown or loss of income. Time Stamps: 00:00-1:32: Intro 1:32- 2:09: What is an Emergency Fund 2:09-6:27: How Much to Hold 6:27-8:13: Where to Put Savings 9:39-11:30: Conclusion Resources Mentioned: ⁠⁠⁠BankRate List of HYS Accounts --- ⁠⁠⁠⁠⁠⁠Download the Ultimate Military Finance Checklist⁠⁠⁠⁠⁠⁠, with 7 pages of critical things to be

en

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