I had been in the US military for around 4 years when I was sent to a mandatory financial education course. Turns out, it was just a guy promoting TSP (Thrift Savings Plan), a sort of optional 401K-type program the military offered. This was back when the military still had a pension program instead of a mandatory 401K option.

I didn’t know anything about financial investments and the guy was basically speaking an alien language to me. But one thing stuck out to me: he claimed that if I started making the max monthly contributions from my paycheck at the beginning of my career (which the govt would match with their own contributions), I could have roughly $1 million saved by the time I was retirement-eligible at 20 years of service.

I was already 4 years into the service so I was way behind, but it still sounded like a good opportunity. I raved about it to my dad, who had spent a lot of time working on his own personal investments. He grew up dirt poor with barely enough money to feed and clothe himself, and by the time I was born, he and my mother were considered upper-middle class for the '80s. He was very money-focused and a living example of the old Boomer mentality of “picking yourself up by your bootstraps,” so I usually trusted him for financial advice.

He told me that he’d never heard of this “TSP thing” and that it sounded like a scam. He told me to avoid it and look into other “more legitimate” options for investing my money.

So I didn’t enroll in TSP. I knew nothing about how to invest money or who could get me started, so I did nothing else with my paycheck, besides stashing as much as I could into a savings account.

For all my dad’s knowledge on money and investments, he was awful at teaching anything. He didn’t have any detailed step-by-step advice, just generic stuff like “set up a Roth IRA” (whatever that was) and “pay attention to what’s happening on Wall Street.” I really shouldn’t have turned to him for advice, but I was young and naive and he appeared to know what he was doing.

Fast-forward a decade later, my wife (who was also serving in the military by that time) mentioned something about her TSP account and asked me about my contributions. I told her I never signed up for that program. Her jaw dropped. Over a decade of service and I had invested nothing?! She immediately signed me up for TSP and had me dump as much as I could into the account.

Today, I’m 3 years retired and I got a decent chunk of change tucked away in my TSP; enough to get me out of a financial struggle if need be. But it’s nowhere near $1 million.

All I had to do was sign up and tell it to take money out of my paycheck before I got paid. That was it; it was so simple! I could’ve had over $1 million in investments by now. Instead, I’m surviving on my measly military pension and some disability payments from the VA.

I’m not hurting financially, but I’m also not rich by any stretch of the imagination. Minus my debts (mortgages, large repairs, county-mandated home projects, etc.), I’m probably breaking about even, if not a little in the red. So I don’t really have money to throw around.

I had a solid govt paycheck for 20 years! If I had just created a TSP account all those years ago, I could have tons of money to retire with. Heck, if I had learned even a little bit about investing my money, I might have been able to “class-jump” like my dad did all those years ago. Later in my military career, I made a point to educate our young service members about their financial options, so they could get the head-start I missed out on.