From Service to Savings: Joey and Kenny Laswell on Military Financial Freedom and Lifetime Resilience

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In this heartfelt and insightful episode of Money in the Military, host Joey Laswell brings his brother, Kenny Laswell, retired Master Sergeant of the Air Force, onto the show for an in-depth discussion about life in the military, personal finances, and transitioning to civilian life.
Highlights:
Kenny’s Military Journey: Kenny shares his story of joining the Air Force in 2003, motivated by a desire to create a better life for his growing family. Over a 20-year career, he served as a structures troop in the Civil Engineer Squadron, with five deployments under his belt.
Financial Wisdom: Kenny emphasizes the importance of living within your means and offers tips for saving during deployments, such as avoiding lifestyle inflation and taking advantage of tax-free bonuses. He reflects on how contributing more to his Thrift Savings Plan (TSP) earlier could have made a significant impact.
Transition to Civilian Life: Kenny discusses the challenges of transitioning from active duty to civilian life, including navigating federal job opportunities and finding affordable housing. He shares how his family temporarily lived in a camper to manage costs and adjusted their lifestyle to fit their retirement pay and savings.
Early Retirement Goals: Kenny outlines his dream of retiring at 55, enjoying hobbies like golfing and fishing, and focusing on his family. He also contemplates creating a foundation to support veterans, highlighting his dedication to giving back to the community.
Key Takeaways:
Discipline in finances is critical during and after military service.
Start preparing for separation or retirement at least a year in advance to build a financial cushion.
Be cautious with credit options like the military Star Card to avoid financial pitfalls.
The episode concludes with Kenny’s reflections on the values of functionality and balance, both financially and in life, and an inspiring message about the importance of veteran support. #veteransresources #personalfinance #financialfreedom #podcast #financialliteracy #veteransaffairs #federaljobs #financialindependence #fire #firemovement

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Hoofdstukken

1. Defense Gear and Military Finances (00:00:00)

2. Military Deployment Finances and Advice (00:04:13)

3. Military to Civilian Financial Transition (00:20:52)

4. Financial Lessons in Military Transition (00:38:00)

5. Early Retirement and Giving Back (00:45:40)

6. Honoring Veterans With Military Broadcast (00:58:45)