Overview of factors, risks, and recommendations for military members to become financially independent.

1. Jennifer Conole, M. S.
Transition & Relocation Manager
Base San Pedro, Work-Life Division – Detachment San Diego

2.  Why financial education and counseling?
 Financial Goal-Setting
 The Financial Pyramid
 Debt Management
 Credit
 TSP and retirement planning
 Financial Resources

3.  USCG vulnerabilities!
 PCS!
 Spouse Employment
 Deployments
 Security Clearances
 Economy
 Regular salary increases
 Transition preparation
 Retirement planning

4.  S.M.A.R.T. goal-setting
 Specific
 Measurable
 Attainable
 Realistic
 Time-specific

5.  “I want to be rich.”
 “I want to have $500,000 saved by age 65. I
will invest $250/month for 10 years in the TSP,
beginning at age 21.”
 “I want to be debt-free.”
 “I want to pay off $10,000 in credit card debt
and student loans within 2 years. I will put
$500/month toward my debt, and not use my
credit card anymore.”

6.  Money Management
 Monthly living expenses: 70%
 Savings
 Emergency
 Reserve
 Goal-Getter
 Investing: 10%
 S. L. Y.
 Rule of 72

7. Options,
commodities, etc.
Real Hard
estate assets
Mutual
Stocks Bonds
funds
SAVINGS Goal-
Reserve Emergency
LEVEL getter
MANAGEMENT Adequate Controlled Adequate
LEVEL income spending insurance

8.  Debt ≠ Fine wine
 Debt to income ratio
 Monthly expense: 20%
 The faster you pay, the more you save!*
 *The longer you take, the more you pay!

9.  How you are “graded” for loans
 Scores range from 300-850
 Negative items remain for up to 7 years
 MYTH: Once an item goes to collections for
nonpayment, and I pay the balance in full, it
disappears as a negative item from my credit
report.
 Free REPORT
 www.annualcreditreport.com
 Your SCORE is not free!!!

11.  www.militarysaves.com
 Pledge to become a “saver”
 Quarterly informational emails
 Financial educator code for your FREE score
and report analysis!

12.  Why it’s important
 Loan interest rates
▪ Home loans
▪ Vehicle loans
▪ Student loans
 Cell phones
 Apartments
 Security Clearance
 EMPLOYMENT!

13.  Will you have $650,000 by the time you
retire?
 Roth IRA
 TSP
 ***ROTH FEATURE OPENED ON 07 MAY!***
 The magic of compound interest and time

14.  San Diego Homeport Website
 www.uscg.mil/homeport (find San Diego)
 TRM and Command Financial Specialists
 FREE financial counseling
 CGMA
 Discounts, freebies, education grants and
interest-free loans, emergency assistance
 NFCC (through agreement with CGMA)
 FREE financial counseling and Debt management!

15.  Why financial education and counseling?
 Financial Goal-Setting
 The Financial Pyramid
 Debt Management
 Credit
 TSP and retirement planning
 Financial Resources