Financial Strategies for Active Duty and Veterans from Maj Gen Steven J. Lepper

Welcome to the "Militarily Speaking" podcast with Tom McLean and Jodi Vickery. In this episode of “Militarily Speaking,” Tom and Jodi sit down with retired Major General Steven J. Lepper to discuss his impressive military career, his role as AMBA CEO, and his dedication to financial literacy and support for veterans. Steve shares his insights on the Veterans Benefits Banking Program, advice on financial planning for military families, and his continued efforts to support military communities.“Militarily Speaking” is a podcast produced by Armed Forces Bank that is dedicated to the military lifestyle and all the things that makes the military community who they are. Ep. 73 – Financial Strategies for Active Duty and Veterans from Ret'd Maj Gen Steven J. Lepper Maj Gen Lepper's accomplishments are vast and varied. After 35 years in the Air Force as a judge advocate, culminating as the deputy judge advocate general, Steven Lepper transitioned to a role as CEO of the Association of Military Banks of America (AMBA). In this episode, Lepper reflects on his career and the significant milestones that defined his path. Born into an Air Force family, Maj Gen Lepper and his brother followed in their father's footsteps, each carving out impressive careers in service to their country. This deep-seated family tradition was rooted in military life, offering Steven a broad perspective and inspiring his daughters, with the eldest pursuing her own military career. The Importance of Financial Legacy and Planning Based on his early education at the Air Force Academy, Steven stressed the need for a solid savings strategy and an understanding of investments. He encouraged young service members to save diligently and make smart financial decisions, underscoring the importance of the Thrift Savings Plan and the benefits of military service. Throughout the discussion, Steven highlighted the necessity of estate planning, advising service members to secure a will and trust to safeguard their families' futures. His advice provides invaluable insights for both active service members and veterans alike. Veterans Benefits Banking Program: Providing Essential Support One of Steven’s proudest achievements during his tenure at AMBA was the establishment of the Veterans Benefits Banking Program (VBBP). This program is a testament to his commitment to enhancing the financial well-being of veterans. By addressing the challenges faced by veterans without bank accounts, the VBBP offers vital financial services and counseling, reducing the reliance on costly paper checks or prepaid cards. This initiative demonstrates his proactive approach to helping veterans access secure banking solutions, ultimately fostering financial stability and reducing susceptibility to fraud. Fraud Prevention: Protecting Vulnerable Populations In discussing the prevalent issue of fraud, Steven provided practical advice to protect against scams, emphasizing the importance of vigilance and daily monitoring of financial accounts. His personal experiences with fraud in AMBA accounts illustrate the necessity of awareness and prompt action when unauthorized transactions occur. Military MinuteJodi introduces the Military Minute segment of the show, beginning by closing out last episode’s Military Minute.●     Last episode’s Military Minute: What is the name of John's book?●     Answer: Surrender or Die!: Reflections of a Combat Leader●     This week’s Military Minute question: Who is the French artist famous for his water lilies paintings?●     Watch for Facebook and Instagram posts about this episode.●     Answer with the correct answer and you plus a charity of your choice can each win $50.●     After a winning selection, Military Minute participants are eligible for another selection after 12 months. Tom closes the episode by asking listeners to go to www.afbank.com and subscribe to the show, as well as leave a rating and comment on your favorite podcast platform such as Apple Podcasts or Spotify. Join us to hear how to better navigate your finances, military life, and the crossroads of the two. Visit www.afbank.com