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Turn your Thrift Savings Plan into a Thriving Small Business

Molly Klein, Benetrends Marketing Associate and Navy Mom, shares insights on business funding for veterans.

Your time in the military is filled with big projects, stressful deadlines, and probably even more seemingly ordinary events. But once you look back on them, you realize how all those events add up to a resume filled with interesting skills that you carry into the civilian world. 

I know firsthand about these, as a Mom to a Nuke (nuclear submariner). When he has time to call (and there’s really never enough time), he will share stories of life underway, at least the stuff that won’t make my hair curl.

He also talks about his plans post-Navy. When he leaves service, his goal is to run and operate his own business. I know he’s going to be a great success, because of his time in the Navy. The reasons are numerous, but here are a few:

    • Problem Solving: There have been many instances, but one stands out. The boat was broken, and he didn’t have the correct size screw to fix it. So, he made one. Reminds me of his Lego builds - always improvising (since Mom often vacuumed up the "special" pieces). 
    • Time Management: He has learned how to create and adhere to a schedule. And, to my surprise, is not only is prompt, but early (because, early is on time, on time is late and late is unacceptable). 
    • Coping Skills: Lots of personalities in a small space, and can you say Hot Rack? My Sailor’s tolerance level has gone up and he has learned to live and work with others despite differences in personality. 
    • Management/Training: There is a rotation of Sailors after each deployment. He has gone from being the “NUB” (Nuclear Unqualified Body) to a “Sea Daddy,” learning valuable teaching skills. It's also helped him deal with his real life little brother (who isn't so little anymore).

But the most significant skill he’s obtained is the most valuable - using his resources wisely. Not only his time and talents, but also his financial wealth. Through the military, he’s been saving for his future with a Thrift Savings Plan (TSP). He’s investing in his future. 

Because he’s doing his research now, when the time comes to separate from the Navy, he’ll will begin the process of opening his own business. And he knows that he will be able to open that business because he has been saving.  

He knows that he can use his TSP, rollover into a ROBS (Rollover as Business Startup) and finally be his own boss! Known at Benetrends as the Rainmaker Plan®, a rollover of his retirement funds will allow him to obtain the funding needed for his business, tax-deferred and penalty-free.  

My son is still working toward his future, but for you, it may already be here. If you are ready to launch a business, schedule a consultation.

 Now, carry on! And thank you for your service.

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