5 Money Traps Service Members Fall Into (Before It’s Too Late!) | From Military to Millionaire Podcast

5 Money Traps Service Members Fall Into (Before It’s Too Late!)
Hosted by: David PereEpisode Type: Military Finance, Mindset, Real TalkLength: ~21 minutesWatch on YouTube: Watch Now

🚨 In This Episode:
Why do some service members leave broke… while others walk away millionaires?It’s not luck—it’s mindset, discipline, and tactical decisions.David breaks down the 5 most common financial traps that crush service members—and how to avoid them like a surprise field day on liberty weekend.

💣 Key Mistakes to Avoid:
1. Living Like You’re Rich (When You’re Not)

Military pay + benefits = disposable income = temptation.

David’s early story: tattoos, Harley, blown cash post-Afghanistan.

Fix: Pay yourself first (TSP, savings) before you ball out.

2. Buying the Wrong Car (at 20%+ Interest!)

That Dodge Charger is eating your future net worth.

Car dealers don’t love you—they love your LES.

Fix: Delay gratification, buy used, keep costs low, invest the difference.

3. Ignoring the TSP

Free government money = 100% instant ROI with matching.

Roth TSP + tax-exempt combat pay = long-term tax-free growth.

Fix: Set it up early, contribute at least 5%, and skip the guru hype.

4. Rushing into Marriage (Bah ≠ Love)

“Marrying the stripper” is code for not vetting your partner.

Divorce is emotionally and financially devastating.

Fix: Treat dating like a vetting process. Seek red flags, not butterflies.

5. Not Using the VA Loan Properly (or Early Enough)

Most service members wait too long, or work with the wrong people.

Fix: Use it to house hack early—live for free, build wealth fast.

Join David’s free weekly webinar to master the VA loan game.

💥 Bonus Tactical Tips:

Deploying soon? Max your Roth TSP with tax-exempt combat pay.

Transfer your GI Bill during your first reenlistment—just give 1% to start.

Don’t bet your future on a pension—build wealth now, so retirement is optional.

Plan your transition early. Losing BAH, BAS, and Tricare is a financial punch in the gut if you’re not ready.

📘 Free Resources:

Download the Free Book: The No B.S. Guide to Military Life

Join the Facebook Group: Military Millionaire Community

Attend the VA Loan Webinar: Register Here

Apply to The War Room Mastermind: link 

💬 Let’s Connect:

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