Transition Tip Thursday
Build a transition fund
If you’re very lucky, you’ll enjoy your hail and farewell on Friday and walk into your new civilian job on Monday. But in this economic environment, such a scenario may not be realistic. Your job hunt should start well before you retire from service. It’s a wise idea to have 09 to 12 months of living expense money saved to bridge any potential financial gaps.
Our youngest Veterans are the most educated generation, and most technologically sophisticated generation, in our nation’s history. They are literally transforming communication, transforming commerce and transforming whole business models. However, a recent study completed by USAA, shows millennials (those born between 1981 – 1997) are considered the most financially ill-prepared generation in our nation’s history. They are missing some of those basic skills – skills like spend less than you earn, put money away each month for retirement, and for a rainy-day fund, protect yourself and your family and your belongings, and prepare basic estate-planning documents. VTROC has partnered with United Services Automobile Association (USAA) to provide monthly workshops to provide financial readiness support.
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