The First Command Financial Behaviors Index® reveals most career service members want to stick with current system
The latest results of the First Command Financial Behaviors Index® reveal that 87 percent of middle-class military families (commissioned officers and senior NCOs in pay grades E-5 and above with household incomes of at least
“Military retirement is about to get more complicated and less guaranteed,” said
The new system, which goes into effect on
“America’s career military families are understandably cautious,” Spiker said. “They know they have to get this decision right. Their lifetime financial security is at stake. While the decision between the two plans doesn’t need to be made until 2018, we are already getting questions from our active-duty clients. This aligns with our survey results, which show that 60 percent of service members who are already working with a financial advisor say they are extremely or very likely to ask their advisor for help with this decision.”
About the First Command Financial Behaviors Index®
Sentient Decision Science was commissioned by First Command to compile the Financial Behaviors Index®. SDS is a behavioral science and consumer psychology consulting firm with special vertical expertise within the financial services industry. SDS specializes in advanced research methods and statistical analysis of behavioral and attitudinal data.
About First Command