Brendan Duebner on LinkedIn: Anyone In The Military Can Become A Millionaire The key is two words:… (2024)

We helped 159 Army officers improve their finances 18%Life Skills for Soldiers recently did a pilot with a class of officers going through their Basic Officer Leader Course (BOLC) in order to test a train-the-trainer model of improving soldier Financial Readiness.We helped 1 main Trainer and 5 sub Trainers prepare to teach 159 newly minted Lieutenants about Budgeting, Investing, and the TSP (military 401k).The results were remarkable. The group saw an 𝟭8% 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝗮𝗱𝗶𝗻𝗲𝘀𝘀 and 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗲𝘃𝗲𝗿𝘆 𝗺𝗲𝗮𝘀𝘂𝗿𝗲𝗱 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝘆. Based on survey data it is expected that this pilot will increase the net worth of each of its participants 𝗯𝘆 more than $1300 over the next 12 months.$1300 today means more ready officers who are starting their career on the right foot. The lessons taught and habits built mean a ripple effect whereby these leaders are able to pass lessons on and build readiness in their units.#MilitaryMoney #Leadership #FinancialReadiness

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The path to success is never linearThat has been especially true for Life Skills for Soldiers. We are still FAR from where we want to be, but this time of year is a great time to pause and take stock of all that has happened over the 12 months. This year we...·Worked with hundreds of military leaders to teach vital money skills to thousands of service members·Partnered with Bill Skimmyhorn to conduct 4 pilots with units across the Army – all of which showed large, statistically significant increases in every measured category·Welcomed top quality leaders such as Jason T. Evans - Lt. Gen. (ret), Ted Brown, and Danny P. Pritchard to the board·Saw our first cohort of leadership fellows (Nicholas Marfongelli, Isaiah S., Jack Pinnell) successfully transition to the top tier institutions of The Wharton School, Northwestern University - Kellogg School of Management, and Harvard Business SchoolAnd so much moreOh by the way, because of complex military rules we did all of this with almost no funding.Don’t get me wrong, we also made plenty of mistakes and still have a long way to go. But no matter how you look at it lessons have been learned and progress has been made, which is what life is all about.Let's see what 2024 has in store.

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How can we best help young soldiers? By meeting them where they areThis week Life Skills for Soldiers launched a Discord channel. What is Discord? Discord is a social platform where users interact over common interests. Increasingly it's where young soldiers live. Our vision for this channel is clear – to create an engaging, supportive, and educational environment where every Service Member finds the tools and community they need to thrive financially. How are we doing it? By leveraging the veteran community. We’ve partnered with military influencers like Jaime Gallardo and veterans turned financial professionals like Dave Won, Erik Baskin, CFP®, and Brandon Lovingier, ChFC®, MQFP® (to name a few).As members of the site gain knowledge and confidence, they can evolve into mentors themselves. The person who once sought answers can become the one providing them, teaching peers and future subordinates. This transformation underscores the heart of our mission – to create an environment that nurtures financial literacy and leadership, empowering every Service Member on their journey.Just like people such as Kyle E. have used Discord to help thousands of service members and spark a culture change around transition, we aim to do the same with finances. Link in the comments if you want to join along.

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If only there was more timeWe should do a better job of looking after our troops, but there isn't enough time. In the military we hear this constantly. Projects to develop leaders and soldiers are constantly put on the back burner for things that "need to get done yesterday".But exceptional leaders know the value of developing their people.At Life Skills for Soldiers we completed a pilot with arguably the highest OPTEMPO unit in the Army - an Infantry Battalion of the 101st Airborne Division.Despite an upcoming deployment, this unit was able to designate leaders to take and teach classes on Budgeting, the TSP and basic Investing. In turn, these classes yielded huge increases in Financial Readiness and projected individual net worth (results in comments).As a result of this investment, this Battalion of the 101st Airborne are building stronger leaders and more ready soldiers.If they can do it, why can't everyone?

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I recently sat down with Dr. Tim Kane, the godfather of many of the Pentagon's talent management reforms over the past decadeDuring our conversation Dr. Kane and I discussed the most important way service members can take advantage of the military's Blended Retirement Program

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How do you help young people improve their finances?Create a bond of trust between the individual and their leaders so they can overcome financial challenges long-term.A few weeks ago I posted about Life Skills for Soldiers pilot with the 101st Airborne. Over the 3 months we helped 2 Trainers prepare to teach 47 of their soldiers about Budgeting, Investing, and the TSP (military 401k). The results? A 𝘀𝘁𝗮𝘁𝗶𝘀𝘁𝗶𝗰𝗮𝗹𝗹𝘆 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝟭9% 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝗮𝗱𝗶𝗻𝗲𝘀𝘀, 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗲𝘃𝗲𝗿𝘆 𝗺𝗲𝗮𝘀𝘂𝗿𝗲𝗱 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝘆, and a projected increase in net worth of $2300 per soldier over the next 12 months (growing exponentially thereafter).During post pilot interviews we asked one of the trainers, CPT Ryan Rubega, what he thought of the program. He captured what we aim to do perfectly."Life Skills for Soldiers doesn't just teach classes about best financial practices, it's focused on creating a bond of trust between Soldiers and leaders to overcome financial challenges long-term."By making it easy for leaders to train their troops 1) junior service members are far more likely to pay attention, 2) leaders get an opportunity to lead, and 3) you improve trust which creates lasting positive changes in behavior. It's that simple.More proof that train-the-trainer for financial education works coming soon

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I thought because the idea was simple, so would everything elseI was told that working with the government is a challenge, especially if you want to challenge the status quo. They were right. But despite the roadblocks (of which there have been plenty) we’ve seen some great success - over 500 military leaders trained, more than 10,000 Service Members positively impacted, four successful pilot programs completed (all showing large increases in every measured category).So this Thanksgiving season I’m thankful for everyone who’s making it happen. From our incredible team with people like Brian Bell, Blake Henrie, Grayson Sullivan, Christian Ochoa, Peter Shares, and so many more. To our spectacular board with leaders like Boe Young, Danny P. Pritchard, Jason T. Evans - Lt. Gen. (ret), and others. To the dozens of strangers who regularly reach out asking how they can help. And last but not least, my supportive friends and family. So much to be thankful for.

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Building up finances can be tough for service membersLast week I posted a poll asking about the biggest hurdles veterans faced regarding building their finances as a new service member. Their answers show there are a number of hurdles from general lack of financial know-how, to fear of deception, to getting caught up in unnecessary spending and much more.So how do we improve this?We need to get serious about teaching financial skills, ESPECIALLY early in one’s military career. A few smart decisions early in one’s service can make all the difference years later.Remember, the strength of our forces isn’t just in our firepower or tactics—it's in the competence of our warfighters. When we increase proficiency on money matters, we're reducing distractions that impede the building of that competence.To all of you in the Service, past and present, your stories are more than just anecdotes; they're a rallying cry for change. It's time to make financial literacy part of our standard kit.

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A question for the vets in my network…

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We helped 47 soldiers make over $100,000This summerLife Skills for Soldiersdid a pilot with a battalion of the historic 101st Airborne Division to test a train-the-trainer model of improving soldier Financial Readiness.We helped a pair of officers prepare to teach 47 of their junior enlisted soldiers about Budgeting, Investing, and the TSP (military 401k). One of the officers had no financial background.The results were remarkable. The group saw a 𝘀𝘁𝗮𝘁𝗶𝘀𝘁𝗶𝗰𝗮𝗹𝗹𝘆 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝟭9% 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗥𝗲𝗮𝗱𝗶𝗻𝗲𝘀𝘀 and 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗲𝘃𝗲𝗿𝘆 𝗺𝗲𝗮𝘀𝘂𝗿𝗲𝗱 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝘆. Based on survey data it is expected that this short pilot will increase the net worth of each of its participants 𝗯𝘆 more than $2300 over the next 12 months.$2300 today means less debt and more ready soldiers today. The lessons taught and habits built mean more wealth creation, stronger military families, and more ready leaders tomorrow.#MilitaryMoney#leadership #FinancialReadiness

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