John Osarczuk, Executive Vice President and National Director of Advisor Operations at First Command Financial Services, joins the Airmen Helping Airmen Podcast with Kaleth Wright to discuss the partnership between First Command and Air Force Aid Society, some of the recent changes to the TSP, and how we can help all our service members navigate those changes.
Key facts
John’s LinkedIn : / johnosarczuk
First Command Financial Services Website : www.firstcomma...
First Command Donation Link : firstcommand.b...
John served for ten years as an Air Force pilot
Currently, John leads a team of more than 500 Financial Advisors
First Command Financial Services is a financial services company that coaches US military families in their pursuit of financial security
Key takeaways
Air Force Aid Society and First Command are teaming up in honor of the Air Force's 75th birthday and the Space Force's third birthday. This year, organizations want to match dollar-for-dollar donations up to $25,000
More than half of career military families feel financially insecure month to month. Though government benefits are significant, they don't cover some specific needs many members need
In 2022, there was a 4.6% pay raise for military members, the biggest one in two decades. To maximize the benefits of the pay raise, First Command suggests creating a plan for how to allocate those extra funds
In that plan, allocate about half of that pay raise to your lifestyle. In other words, pay yourself first. Next, save three to six months of living expenses in your emergency savings. With what is left over, put that money towards something that will improve your progress toward your goals
A great opportunity to make sure that you're maxing out your TSP. Recent TSP changes will offer more investment options through a brand new mutual fund window
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Quotes
“We believe those who serve their country deserve to have their finances squared away”
“First Command is in a position where we constantly advocate for service members. We advocate for their financial health so it's important for us to support organizations whose mission aligns with our own”
“Folks in the military work really hard, and they deserve to reap the rewards, and those pay raises come by few and far between. And so sometimes it's nice to be able to put that to your lifestyle”
15 сен 2022
