Military Transitions
Military Saves’ mission is to promote the importance of savings and to encourage servicemembers and their families to take financial action. Over the next six weeks, our campaign will be focused on the big transition: leaving the military.
This resource packet contains a message to our partners, sample article, social media posts, and resources designed to help you communicate with your audience about the importance of making saving for transition a top priority. We encourage you to use this material to position your organization “on the front lines” of the savings message, to encourage individuals to take the Military Saves pledge, and to help our servicemembers transition without debt and with a healthy savings safety net.
As educators, counselors, coaches, non-profits and practitioners we’ve all seen the devastating impact that failing to adequately plan for transition can have on an individual and family. The data show that approximately one out of two (53 percent) separating Post-9/11 Veterans will face a period of unemployment. Let’s continue to work together to get the need to “save for transition” message out to servicemembers before they get out. Thank you for all you do for our servicemembers!
Download the partner packet in Word.
In this Packet:
Sample Article
For use in communications that directly reach your constituents. We encourage you to use its contents as a guest post for your blog, newsletter, e-mail communications or any other publication. Feel free to rewrite it as your own.
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A Military Transition “SMEAC“ Approach (5 Paragraph Field Order)
By Letty Stevens, AFC®
S: Situation
M: Mission
E: Execution
A: Administration and Logistics
C: Command and Signal
Situation: Transitioning out of the military needs to be well planned and executed. No matter your rank, occupational specialty or training, the process is not an easy one and it is not intuitive. You must have goals. One key goal is for you to be both financially and mentally prepared for the transition into civilian culture.
One of the biggest obstacles to your peace of mind during transition is debt. If you transition out of the military with credit card debt and/or an outstanding car or personal loan, you may have a potentially detrimental situation on your hands. Being in the military guarantees a consistent paycheck. In the civilian world, however, you are likely to change jobs frequently, and may find yourself unemployed from time-to-time. The sooner you pay off your debt and start saving, the better off you and your family will be during your transition, and into your civilian life.
Mission: The Military Saves mission makes savings and savings strategies a priority for servicemembers and their families. For those who are transitioning, this is a call to action!
Execution: We encourage you to take the savers pledge, sign up for biweekly text messages and begin to discuss saving with your family as a transition strategy today.
Administration: You are the sole administrator of your finances, but we encourage you to reach out to your resources. For those of you who are married this is a team effort. Logistics: Your spouse is transitioning with you, and having his/her additional income to get you through your transition needs to be discussed in the months and years leading up to your transition.
Command and Signal: Take command of your financial transition by making a plan to pay off your debt and start saving today!
- Start the process with an honest discussion. Just sit down and talk with your spouse, significant other, financial counselors or whoever you trust.
- Document your SMART transition goals, immediate and long term.
- Keep communicating and saving, with verbal and visible reminders. Text messaging is now available when you take the savers pledge.
This is your new financial life taking shape, and it all starts with a plan. When you plan to save and stick with your plan, it will result in your financial peace of mind today, during your transition, and into your civilian life.
Military Saves, managed by the nonprofit Consumer Federation of America (CFA), seeks to motivate, encourage, and support servicemembers and military families to save money, reduce debt, and build wealth. Learn more at militarysaves.org.
Social Media Content
Share the following messages with your Facebook & Twitter followers.
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#SavingsTipTuesday
Save for transition, sock away windfalls http://bit.ly/29VjxhL #SavingsTipTuesday @militarydotcom @MilitarySaves
Tweet this now
TSP is effective way 2 save for #retirement automatically http://ow.ly/BfFtx @Military Saves #SavingsTipTuesday Tweet this now
6 transition tips no. 2 >> cut and save: http://bit.ly/2a6xzfe #SavingsTipTuesday @MilitarySaves Tweet this now
8 financial tips to ease the transition. No. 6: Build your emergency savings! http://bit.ly/29WbT6k #SavingsTipTuesday @marybstorj @MilitarySaves Tweet this now
5 financial tips. No. 3: Have an emergency fund ready. http://bit.ly/2anGIPL #SavingsTipTuesday @usnews @MilitarySaves Tweet this now
Save 3-4 months’ worth of living expenses 2 alleviate stress. http://bit.ly/29W1U1m #SavingsTipTuesday @NMSNetwork @MilitarySaves Tweet this now
# 1 Transition tip: Set aside a transition fund. http://bit.ly/2a6yAVQ #SavingsTipTuesday #BetterMoneyHabits @MilitarySaves Tweet this now
#SavingsFactFriday
Financial preparedness for transition is key concern http://bit.ly/29VAJ6P @MilitarySaves @NMFA #SavingsFactFriday Tweet this now
76% active duty servicemembers have retirement accounts http://bit.ly/2a2WOxp #SavingsFactFriday @FINRAFoundation Tweet this now
Paying off a mortgage early can result in serious savings during #retirement http://ow.ly/BfKeu @MilitarySaves #SavingsFactFriday Tweet this now
44% of workers indicate they don't have a problem with their level of debt. http://bit.ly/2adRt8k @MilitarySaves #SavingsFactFriday Tweet this now
69% report that they or their spouse have saved money for retirement http://bit.ly/2aeBvLg @MilitarySaves #SavingsFactFriday Tweet this now
Additional Posts
Tools to help you successfully navigate your transition: http://bit.ly/2aq7U1m @FINRAFoundation @MilitarySaves Tweet this now
It’s a good idea to get your financial house in order before you separate. http://bit.ly/29VF5uK @MilitarySaves Tweet this now
Creating a workable budget and sticking to that budget is a great start. http://bit.ly/2a7AXUQ #FinanciallyResponsible @MilitarySaves Tweet this now
U need about 80% of your pre-retirement income 2 continue UR quality of life #Retirementtalk http://bit.ly/2a7Da2t @USAgov @MilitarySaves Tweet this now
The earlier you plan for transition, and the more you save toward it, the better your chances of having it work out as you planned. @MilitarySaves Tweet this now
A trusted, well-informed financial coach can increase your odds of financial success http://bit.ly/2aryaev @CFPBMilitary @MilitarySaves Tweet this now
Relevant Resources
Share the following tools and resources with your audience and with other organizations.
Military Saves Resources about Transition and Retirement
- Military Transitions–What to Expect
- Six Smart Budget Tips to Turn “Surprise!” Into “I Got This!”
- 4 Reasons to Contribute to the TSP – Despite Having a Military Pension
- 5 Benefits of Paying Off a Mortgage Before Retirement
- Considering a Thrift Savings Plan Rollover? Consider This.
- Don’t Squander Your “Rollover Moment”
- Leaving the Military: Why a Cash Stash is So Important
- my Social Security is your Social Security
- Retirement – Getting on Track at Any Age
- Retirement Options for Reservists
- Retiring? Consider These Tips for Smart Management of Retirement and Taxation
- Roth TSP Adds a Tool to Your Savings Kit
- Save Now, Retire Comfortably
- Save for Retirement
- Sign Up and Save with the Thrift Savings Plan (TSP)
- Supplement Your Retirement by Setting It on Autopilot
- What You Need to Know About the Roth Thrift Savings Plan (TSP)
- Why Saving for Retirement is So Important
- The Zen of Pondering a Happy Retirement
Research
- Key concern: Financial preparedness for transition
- 2012 Military Survey Data at a Glance
- What was your most significant concern when you transitioned from the military into the civilian workforce?
- The 2016 Retirement Confidence Survey
- Calculators/Tools
Calculators/Tools
- DOD Retirement Calculators
- AARP Retirement Calculator
- Power Pay Debt Reduction Calculator
- Social Security Calculators
- TSP Monthly Payment Calculator
- Taking the Mystery Out of Retirement Planning
- Transitioning from Military to Civilian Life
- Successful Saving Starts Here
Videos
- DOD: The 2018 Blended Retirement System Explained
- Thinking Money Documentary
- Sesame Street Helps Kids Transition
- How to Participate in the TSP
- Financial Health After Deployment
- Financial Readiness
- Empowering Troops for Financial Transition
Websites
- America Saves
- Choose to Save
- National Military Family Association
- Military Saves
- Save and Invest: Transition
- USAA Educational Foundation
Additional Resources
- Thrift Savings Plan Options: Making Your Retirement Dollars Work for You
- Understanding Your Thrift Savings Plan
- What’s so Great About the TSP?
- Ten Tips for a Successful Transition (Learned the Hard Way)
- Military to Civilian Transition Tips
- 7 Things You Think During Military Transition
- Financially Responsible
- Consumer Financial Protection Bureau
- CFPB: Savers vs. Pirates
- Feds Hire Vets: Moving Out of the Military Checklist: 6 Months to Transition
- Investor: Leaving the Military
- My Money: Resources
- Social Security
- Military Service and Social Security
- USA: Retirement Resources
- OPM: Helping Veterans Transition to Civilian Life
- White House: States Step Up to Help Military Spouses Get Back to Work
- U.S. Department of Defense: Military Compensation
- U.S. Department of Defense: Savings Deposit Program
- U.S. Department of Defense: Unemployment Compensation (UCX)
- Military OneSource: Transition Assistance Programs for Military Personnel
- DCoE: Be Smart With Your Finances Now, Reduce Stress Later
- Air Force Reserve: Yellow Ribbon Events “flicks on the light” for a Couple in Transition
- Air National Guard: Financially Responsible
- Army National Guard: FMAP Addresses Needs of National Guard Community
- Army Reserve: Fort Family
- Marine Corps Forces Reserve: Personal Financial Management Program
- National Guard: FMAP Addresses Needs of National Guard Community
- US Air Force: Personal Financial Planning for Transition
- US Army: Soldier Life Cycle Changes way Army Preps Troops for Eventual Transition
- US Coast Guard: Personal Financial Management Program
- US Coast Guard Reserve: Personal Financial Management Program
- US Marine Corps: Personal Financial Management Program
- US Navy: Sailors to Get More Training On Finances
- 21st Century Sailor & Marine
- Soldier for Life
- Category: Uncategorised
- Published: 25 July 2016
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