Passing The Torch with Martin Foster
Welcome to Passing The Torch, a personal development podcast that’s about the journey, not just the destination.
This show is a conversation with people who inspire me — thought leaders, entrepreneurs, athletes, authors, and others who are constantly evolving and learning about themselves. I’m not pretending to have it all figured out, and that’s what makes this podcast different. As I navigate my own personal growth and discover new tools, insights, and stories that are helping me, I’m bringing you along for the ride.
I believe that when it comes to self-improvement, we don’t always need to hear from someone who has already "arrived" at their ideal self. Instead, we can find power in connecting with people who are in the trenches alongside us, figuring things out as they go. Passing The Torch is an opportunity for both of us to learn, grow, and share in real-time.
Every episode, I sit down with individuals from all walks of life — from CEOs and best-selling authors to Special Forces Operators, friends, and elite athletes — and we dive deep into the lessons they’ve learned, the obstacles they’ve overcome, and the wisdom they’ve gained. Along the way, I’ll be sharing my own experiences and insights from my personal development journey.
Whether you’re someone who’s looking for guidance or simply enjoy hearing raw, honest stories of transformation, Passing The Torch offers something for everyone. It’s not about being perfect; it’s about sharing what we’ve learned and helping each other move forward.
Join me on this adventure. Let's pass the torch together.
Passing The Torch with Martin Foster
#87 - Building Financial Resilience for Veterans - Erik Baskin
The episode touches on the lack of personal finance education in schools, with Erik advocating for more practical courses to set young adults up for success. He also describes his approach to budgeting as a way to reduce mental stress and free up brain space for more important life decisions.
Overall, this episode is packed with practical finance advice, life lessons from the military, and personal anecdotes on happiness, resilience, and purpose. It’s a great listen for anyone looking to better align their finances with their values and build a foundation for long-term freedom.
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Time Codes:
00:00 Building a Guest Wish List
04:31 Passion for Finance and Investing
07:06 Enhancing Financial Resilience
13:18 "Early Financial Literacy's Impact"
15:00 Intentional Living: Values-Driven Decisions
18:22 Pre-Kids Trip to Australia
22:05 Family Time as Life's North Star
25:17 Financial Stress and Life Impact
27:28 Book Recommendations for Financial Resilience
31:50 "Retirement Plans and Lost Time"
36:13 Amazon Wish List Spending
37:57 Managing Inbound Requests
41:56 "Happier Future in Colorado"
Connect with Passing The Torch: Facebook and IG: @torchmartin
More Amazing Stories:
Episode 41: Lee Ellis – Freeing You From Bond That Make You Insecure
Episode 49: Ryan Hawk – Crafting a Legacy of Leadership
Episode 52: Riley Tejcek – Mission of Empowerment and Endurance
In this insightful episode, Martin Foster welcomes Erik Baskin, founder of Baskin Financial Planning, to discuss financial resilience, personal growth, and building purpose beyond a military career. The conversation kicks off with some lighthearted banter about how long it took to get Erik on the podcast and the importance of having a robust wishlist of guests.
Erik shares his journey from being a kid who aspired to be a doctor, influenced by a family member in medicine, to working in hospital administration in the Air Force. It wasn’t until his post-college years that he developed a passion for personal finance, thanks in part to his affinity for numbers and early exposure to practical math at home. This eventually grew into a career helping veterans and business owners plan for life after service.
Martin and Erik discuss the concept of financial resilience—how being ready for life's financial curveballs, like unexpected expenses or opportunities, is foundational to well-being. Erik explains the importance of spending less than you make, increasing liquidity, and minimizing debt. He emphasizes aligning financial decisions with personal values, sharing how he and his wife prioritize meaningful experiences (like travel) over material possessions.
The episode touches on the lack of personal finance education in schools, with Erik advocating for more practical courses to set young adults up for success. He also describes his approach to budgeting as a way to reduce mental stress and free up brain space for more important life decisions.
Erik’s podcast and business serve primarily the military community, with a common theme among his guests being growth-mindedness and a desire to help others. The conversation also veers into lighter territory, like favorite books (e.g., "Die with Zero," "The Psychology of Money"), travel tales from the Paris Olympics, and the impact of good friendships and daily routines.
Martin wraps up with a series of rapid-fire questions about leadership, Erik’s favorite purchases, what he’s become better at refusing (unsolicited brain-picking requests), and what message he’d put on a billboard for the world (“Be happy. Focus on what matters”).
Overall, this episode is packed with practical finance advice, life lessons from the military, and personal anecdotes on happiness, resilience, and purpose. It’s a great listen for anyone looking to better align their finances with their values and build a foundation for long-term freedom.
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Time Codes:
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00:00 Intro
04:31 Passion for Finance and Investing
07:06 Enhancing Financial Resilience
13:18 "Early Financial Literacy's Impact"
15:00 Intentional Living: Values-Driven Decisions
18:22 Pre-Kids Trip to Australia
22:05 Family Time as Life's North Star
25:17 Financial Stress and Life Impact
27:28 Book Recommendations for Financial Resilience
31:50 "Retirement Plans and Lost Time"
36:13 Amazon Wish List Spending
37:57 Managing Inbound Requests
41:56 "Happier Future in Colorado"
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Erik’s resources:
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Website: https://www.baskinfp.com/
Podcast: https://www.baskinfp.com/podcast
LinkedIn: https://www.linkedin.com/in/erikbaskin/
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Quote:
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“Money often costs too much.”
- Ralph Waldo Emerson
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Keywords:
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veterans, financial planning, military transition, business ownership, purpose after military, personal finance, podcasting, Roth IRA, investments, budgeting, financial resilience, debt management, liquidity, spending habits, growth mindset, entrepreneurship, education curriculum, money management, family values, life optimization, financial stress, job performance, work-life balance, resource allocation, book recommendations, podcast guests, travel experiences, friendship, leadership, mindset development
