In small pot, bring milk and water to a boil over medium heat. Add oatmeal, cinnamon, and nutmeg. Reduce heat to medium-low and simmer until liquid is absorbed, about 7 to 15 minutes, stirring occasionally.
Once the liquid is absorbed, stir in pumpkin, and almonds, and sweetener (if desired); set aside.
Combine water and protein powder in a separate bowl. Mix with a fork until protein is dissolved (may be easier to use blender).
Pour protein mixture over oatmeal and serve.
**Note:You do not need to use the entire Protein Powder mixture. Adjust it according to taste and liking.