By Lindsey Davee, AFC® 
Military Spouse 

When some of us hear the term “financial independence,” we picture something straight out of a game show: balloons dropping, confetti flying, and someone shouting, “You’ve won a million dollars!” because it feels like all of our financial concerns are completely resolved. Maybe you’ve imagined yourself on a beach with a piña colada, never worrying about money again. Sounds glorious, right? 

Well… that version is fun to dream about — but it’s not realistic. 

For anyone, gaining financial independence rarely comes in the form of a surprise check or lottery win. But for military spouses especially, it’s much more of a winding path — one that often includes navigating job changes, relocations, childcare gaps, and everything in between. It’s a journey that requires creativity, resilience, and a lot of planning… often between deployments and last-minute PCS moves. 

But here’s the good news: Achieving financial independence is possible — and it doesn’t have to look like anyone else’s version. Whether you’re just starting out in your military career or moving towards retirement, there are tangible steps you can take to build financial strength, flexibility, and autonomy at every stage. 

Let’s break it down. 

1. Early Career (0-6 Years of Service) 

Challenges You Might Face: 

• Frequent PCS moves make it tough to establish a steady career 
• Budgets are tight, especially if you’re a younger family just starting out 
• Limited child care access might mean putting your own career on pause 

Your Financial Independence Focus Areas: 

• Build a portable career: Look into remote work, freelance roles, or fields with transferable licenses such as teaching, nursing, or IT. 
• Invest in your skills: Take advantage of programs like the My Career Advancement Account Scholarship (MyCAA) to pursue education or certification. 
• Team up on the budget: Talk with your partner about creating a budget based on your financial goals, how to manage your Basic Allowance for Housing (BAH) wisely, avoid lifestyle inflation, and build an emergency fund. 
• Build independent credit responsibly: Start creating your own financial identity with secured credit cards or by becoming an authorized user — just be sure to regularly pay off balances in full to avoid added debt. 

Your Milestone: 

Start building confidence in your financial voice, contribute to household money decisions, and take the first steps toward your own income or financial identity. 

2. Mid-Career (7-12 Years of Service) 

Challenges You Might Face: 

• Career continuity is still tough with ongoing moves 
• Juggling work, kids, household responsibilities — or all the above 
• Deployments can bring extra stress and unexpected expenses 

Your Financial Independence Focus Areas: 

• Grow your career or start a business: Military spouses often find success in self-employment, consulting, content creation, real estate, or government jobs tied to military installations. Unsure what you want to do? Consider finding a mentor through American Corporate Partners (ACP).  
• Start investing: Take time to explore how TSP, Roth IRAs, real estate, or even your own brokerage account can help you start growing long-term wealth. 
• Plan for the future: Think about childcare support, TRICARE coverage, college savings, and overall financial goals. 
• Think long-term: Talk with your partner about whether you’d like to continue in the military to earn retirement benefits or want to start building an exit strategy. 

Your Milestone: 

Establish semi-independent income and take on a bigger role in long-term financial planning. This might be the season when your portable business or flexible career begins to thrive. 

3. Late Career (13-20+ Years of Service) 

Challenges You Might Face: 

• Big transitions are on the horizon — including retirement, relocation, and career shifts 
• Managing an empty nest or supporting aging parents 
• Burnout after years of moves and reinvention 

Your Financial Independence Focus Areas: 

• Plan your family’s post-military chapter: Take the lead on researching job markets, schools, housing, and where your family may want to settle next. 
• Stabilize your income streams: If you’ve started a business or career, this is the time to strengthen it before the transition. Rental properties and investments may also become a bigger part of the picture. 
• Collaborate on retirement planning: Align military pension with Thrift Savings Plan (TSP) withdrawals, civilian retirement plans, Social Security benefits, and other long-term assets. 
• Understand healthcare changes: Learn about TRICARE for retirees or other options if you're transitioning to civilian healthcare.  

Your Milestone: 

Start preparing for shared or independent financial freedom. You may become the financial strategist for your family’s retirement years. 

4. Post-Military/Retirement Phase 

Challenges You Might Face: 

• Civilian life that feels unfamiliar and overwhelming 
• Deciding whether to reclaim your career or explore something new after years of sacrifice 

Your Financial Independence Focus Areas: 

• Rediscover your career or passion: With location stability, this might be your time to finally go all-in on a business, degree, or dream job. 
• Build financial autonomy: Now that your pension and benefits are secured, you can focus on growing your own wealth or income stream. 
• Manage and protect your wealth: Lead efforts in estate planning, charitable giving, investing, or legacy planning. 
• Design your lifestyle: Finally prioritize what’s most important to you — travel, hobbies, volunteering, or simply enjoying the freedom not to work if you don’t want to. 

Your Milestone: 

Reach personal financial independence — whether that means a solo income, owning a business, or the freedom to say yes or no on your terms. 

Additional Considerations Throughout the Journey: 

• Survivor Benefit Plan (SBP): Understand your options and how it impacts your family’s long-term security. 
• VA Benefits & Disability Ratings: These can directly affect your household income, health care access and survivor benefits. Know your rights and how to advocate for yourself or your family. 
• Life Insurance (SGLI/VGLI): Stay involved in these decisions, especially during major transitions like separation or retirement. 

As a military spouse, you don’t need a traditional career path, a flawless financial plan, or a specific government-issued program to reach financial independence. What you do need is the right mindset, a few solid tools, and the flexibility to roll with the punches (and the PCS orders). Your journey might not look like anyone else’s — but that’s kind of the point. With each move, pivot, and unexpected detour, you’re building a life that supports your goals and your independence — one worth more than any game show jackpot. 

We Can Help 

Start empowering your financial independence today with our Financial Readiness guide. Life insurance is also a smart way to ensure a more secure financial future. Consider your coverage options, or get a quote now.