Top 4 Things I Wish I Knew as a Young Naval Aviator

Reflecting on my journey from my Naval Academy graduation in 2003 to becoming a Naval Aviator in San Diego, I’ve learned a lot along the way—both from my own experiences and from the advice of others. There are a few key lessons I wish I’d known earlier in my career, particularly when it comes to finances and real estate. While I could probably write a book on this topic, I’ve narrowed in on 4 “lessons” I’d like to share with you today:

First, I wish I had understood the immense power of buying real estate sooner. I toyed with the idea of buying when I arrived in San Diego in January 2005 – and I really wish I’d done so – but the demands of the Navy and my hectic schedule kept me from seriously looking into real estate. In 2012 I again started looking to buy, but was quickly overwhelmed with info. And candidly, the agent I was working with didn’t seem to have my best interests at heart. So we again postponed our home search. Finally, after nearly a decade of living in San Diego, Annie and I had enough information (and gumption) and purchased our home in late 2014. That decision – buying our home – turned out to be the best financial decision we’ve ever made, thanks to its impacts on our wealth building and the additional equity we’ve been able to unlock via home equity lines of credit (HELOC)… which we’ve since used to acquire additional real estate.

Second, the Thrift Savings Plan (TSP) is an incredible tool that I wish I had taken full advantage of from the start of my career. And it’s even better today, thanks to the government matching that’s available. I waited until very late in my career to begin sending monthly allotments to my TSP, and I don’t have a good reason as to why I waited. While your ideal mix of funds may be different than mine, all active duty servicemembers should be contributing monthly. With most servicemembers today on the new retirement system (Blended Retirement System, BRS), there is no reason not to contribute at least 5% monthly to TSP (in order to get the 5% government match). In addition to deciding on how to allocate contributions within your TSP portfolio, the other decision servicemembers need to make is whether to have their contributions treated as pre-tax (i.e., “traditional,” which lowers your taxable income) or after-tax (i.e., “Roth,” which allows the contributions to grow tax-free).

Third, (you knew I’d sneak something in here about flying) for those in aviation, I can’t stress enough how important it is to fly as much and often as possible. And for those of you with whom I’ve flown… you know I tried to model this behavior! I can say with full confidence that 1) the flying will eventually stop, and 2) the best way to improve yourself at your craft is to go and do it! Those of you flying today are doing something that is challenging, rewarding, and matters deeply for your country. So whatever platform you fly, whatever community you are in, never take those flying opportunities for granted. Get out there, plan and brief diligently, train your fellow aviators, and fly well! THANK YOU FOR YOUR SERVICE.

Lastly, transferring the Post-9/11 GI Bill to your dependents as early as possible is crucial! As many of you know, the GI Bill in its current form offers a tremendous benefit to you and/or your dependents. There are some strict guidelines that specify when you can (and cannot) transfer your benefits – understanding them can make a big difference in how you and your family are able to use those benefits down the road. And while I didn’t wait too long, I could have (and should have) transferred my benefits even sooner. Once you complete the “transfer” (via milConnect), you can then reallocate those benefits among your dependents during AND after your service.

These are the lessons I’d share with any young aviator (or servicemember) today. I hope that those of you reading can benefit from what I’ve learned over the years. And if you’ve got questions on any of the above, let’s jump on a call and chat.