As a military member myself, I’ll be the
first to say that most active duty service members have no idea what
they’re doing when it comes to their finances. It’s true that most
people in general don’t have a clue, but it almost seems worse in the
military. That being said, when I do meet someone in the military who
shares my love of finances, it’s an automatic friendship. Enter my
friend Eric. A retired Army Lieutenant Colonel and now a financial
advisor for First Command.
With 20+ years in the service, Eric knows a thing or two about the
military and he also knows about money. That’s a rare combination, which
is what makes him so interesting.
Here’s what this retired Colonel taught me about money…
The Life of Eric
Eric enlisted in the Army at a young age. He quickly decided that he wanted more out of the military and wanted to give more back to the military so he obtained his Bachelor’s degree and commissioned as an Officer in the United States Army.
He served 22 years on active duty and retired as a Lieutenant Colonel (O-5).
After retiring from the military, he was still young so he decided to go to work for First Command. First Command is a financial advisory company geared toward, but not exclusively for, the military. However, when I say geared toward military, I mean that they really want to help our military get their finances in order. They actually offer free financial planning for military members.
I was first introduced to Eric through my commander. My commander knows I’m a finance nerd, so he thought Eric and I would have a lot in common. He was right and here is what I quickly learned from him…
1. The Science and the Art
I’ve heard a similar idea, but I’ve never heard the terms the “science” and the “art”, as applied to finances. Here’s how Eric explained it to me…
When you make a financial decision, no matter how big or small, you have two sides to it. There’s the science, which is the actual, real, mathematical hard numbers – this is the decision “on paper”. Then you have the art, which is the more emotional side – how it makes you feel and the emotional benefits.
Here’s what this retired Colonel taught me about money…
The Life of Eric
Eric enlisted in the Army at a young age. He quickly decided that he wanted more out of the military and wanted to give more back to the military so he obtained his Bachelor’s degree and commissioned as an Officer in the United States Army.
He served 22 years on active duty and retired as a Lieutenant Colonel (O-5).
After retiring from the military, he was still young so he decided to go to work for First Command. First Command is a financial advisory company geared toward, but not exclusively for, the military. However, when I say geared toward military, I mean that they really want to help our military get their finances in order. They actually offer free financial planning for military members.
I was first introduced to Eric through my commander. My commander knows I’m a finance nerd, so he thought Eric and I would have a lot in common. He was right and here is what I quickly learned from him…
1. The Science and the Art
I’ve heard a similar idea, but I’ve never heard the terms the “science” and the “art”, as applied to finances. Here’s how Eric explained it to me…
When you make a financial decision, no matter how big or small, you have two sides to it. There’s the science, which is the actual, real, mathematical hard numbers – this is the decision “on paper”. Then you have the art, which is the more emotional side – how it makes you feel and the emotional benefits.
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