That is a great question. Actually, we don't currently but that does not mean it is a bad model. Retail investors save $ billions under that model as compared to the commissions they were paying.

Foreign conflict will generally lead to some form of inflation. However, what is known as the War Paradox says that war is generally good for the US stock market.

But it comes back to basics. Have enough cash to cover emergencies. The cash you won't need in the next 24 months; get it invested. It is your only chance at keeping up with inflation.

This year has SUCKED for the stock market, but we have had many years of massive returns, and this year stocks are on sale for the long-term investor.

Interesting question. Candidly I havent studied this that much. My assumption is that because officer base pay is higher, they have access to more capital, at least thats how I'd guess it works. My actual practical experience is that most financial products available to service members are borderline predatory, or in fact super predatory. (When I started Guild I mapped the distance from the front gate at Ft. Benning, GA where I attended Basic Airborne Parachutist School, to the the first used car dealership with a super high interest rate. It was .6 mi.)

Beyond the predation, I think theres a cultural issue, too. At USNA 2/C get that car loan (even though they are being paid an E-5 equivalent salary) and almost everyone takes it. Young service members buying cars outside their means is not a problem exclusive to the military community but its exacerbated by that consistent government paycheck that lenders love!

So, you must use payment for order flow?

Dawson- good to see you here.

My path to the military was not a straight line. After 9/11, I wanted to go and serve, but I was 30 years old. After doing some research, I found out about the Navy Reserve's Direct Commissioning Program for Intel Officers. I thought that sounded cool and it would get me in the fight faster (Not true). I knew next to nothing about Navy Intelligence other than James Bond was a British Navy Intel Officer. But the more I learned, the more it was clear the skills I had on Wall St were directly transferable to Navy Intel. In fact, what I learned about collective intelligence and intelligence operations influenced how I looked at data on investing later in my career. it was also the fundamental thesis for the Guild Platform.

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Considering the Intel background, what should veterans do to prepare for economic impacts of foreign conflict?

Thank you so much. That really means a lot!

Can you share some thoughts on career starter loan availability for Officers compared to the Enlisted personnel they manage?

Thanks for sharing. It's a phenomenal and much needed initiative. Wishing you two all the best.

Sean/Kaj, nice to see some of the discussion here this is Dawson from r/freelancecorporal just hopping in. Wanted to ask what brought Sean an interest for intelligence and how that played into building Guild?

Also: Free Meals for Veterans Day Free Meals

Great question w/ an easy answer: We're a commission-free platform. We don't give financial advice, and we don't charge fees.

And totally agree w/ you on fees being a financial headwind. They're a tax to wealth that never goes away, and they can add up to huge dollars over time. Which is why we built Guild the way we did.

Love Kyiv, and love the Ukranians. When I was there during the early days of war, it was all darkside. The amount of shelling happening every night was staggering. Most of my work was outside of Kiev or done at night, but Im looking forward to going back and seeing Kiev in the light.

That's crazy, we ran into so many US Vets over there. I actually had a guy stop me on the street in Lviv, which was a little sketch since it was early day of the war.

you nailed the issue with Wall St. The real story around Wall St bets was people's lack of trust in Wall St and their desire for a trusted community in the investing world. That was a big reason we built Guild as a transparent platform with financial education.

You should not gamble with your investment accounts and day trading is just that. You should invest for the long term. I am not sure what the SEC can do than to ensure a level playing field. I think the private markets are trying to do that with Apps like Robinhood, Acorns and of course Guild.

But Trust is everything.

One of the major headwinds to building wealth is advisor/fund fees. What do you charge?

We do not receive government support for Guild directly, although lately DOD has recognized financial literacy as a critical national security issue. We built our company precisely because we recognized there wasn't a company serving the military community for personal wealth, and because candidly DOD is doing an inadequate job of teaching financial literacy to its service members.

That by the way is not a knock on DoD, and I believe the Pentagon would agree with us. We have the former SECNAV join the board of our company precisely because he agreed it was necessary for the private sector to help with this effort. He recognized this issue during his tenure and is supporting us in helping close the wealth and knowledge gap.

We (Sean and I) identified this wealth and knowledge gap independently. Sean understood it from a Wall St. perspective. Especially when he was serving as an intelligence officer in the Navy and everyone at his command from the E-1 to the CO was soliciting his advice as someone who had owned and run successful investing businesses. For me, I approached it from the lens of Veterans service. I had helped found two large VSO designed to help veterans with a sense of mission and purpose. I realized during a decade of this work, that purpose was important but so was purse. Veterans (and active duty) needed this kind of support. If the government wasn't doing it effectively enough, we felt compelled from a mission perspective to fill the gap.

First thing is get a good understanding of your budget and spending needs- not wants. it is important to remember that you can't invest until you can save.

Secondly, take advantage of all the military financial benefits such as the using the TSP in the Blended Retirement System. Depending on your level of service you get up to a 5% match on your investment. That's free tax-free money. The new retirement system is like a private sector 401k so even if you don't do your 20 years you can take it with you. The other the VA mortgage. You can actually use it to buy a building to rent out 4 apartments - as long as you live in one unit for a year.

Third, invest outside of the TSP. The match is its best benefit but its investment choices are limited. So, use the VA mortgage to get you started in Real Estate. But the easiest and most proven investment for the long term is a portfolio of US stocks. Long term returns hover around 10% so it is your only shot a battling inflation.

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Awesome question. Its funny, in hindsight things appear to be a straight line, but in reality the path is more circuitous. My grandfather served in the Navy in WW2 and my great grandfather served in the Tzars band in Russian army. My father is a Devil Dog (Marine hoorah) so there was a natural inclination to serve. I went to the Naval Academy intending to be a pilot (too much Top Gun), then found this other community that was the right fit for me. One that suited my background and skill set and personality.

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What was your favourite part of Kyiv? I hear it has a darkside.

Do you get any support from the government for Guild?

You're now the second group of veterans I've run across doing something like this, and its appalling to me you have to take matters into your own hands to support people who serve our countries.

Small world. Almost met up with you two in Ukraine via Jake

The big question for you both, but Sean in particular- do you think that Wall Street as an institution can be repaired enough to regain credibility or is an opportunity for an evolution to a decentralized format of investing?

Wallstreetbets showed the fatal flaw in over volume trading. In your opinion, can the USGOV / SEC move quickly enough to repair their failings in that arena?

Humanitarian work. We (Seanbonner_usa and I) went over early days in the war. We were boots on the ground for about 2 mos helping. Primarily I had a strategy I called "No empty trucks." I would drive in medical and humanitarian supplies (even dog food sometimes) to the frontlines, then I would rescue people who needed to flee the fighting. So supplies in, refugees out. That was critical during the early stage of the war, and candidly some of the most important work I have ever done.

Short answer is a little bit of everything and a lot of work. The longer answer is delivering humanitarian aid and advising elements of the Ukrainian military.