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Actions Helping Military Veterans Achieve Financial Wellness
Key Takeaways
- Survey results show that millennial veterans are struggling more financially than older veterans.
- The lack of financial support for military caregivers leads the majority of them to also report financial strain.
- Financial wellness programs can empower veterans and their families to improve their financial situations.
Transitioning back to civilian life can be challenging for many military veterans, not only culturally but financially. Finding a job and managing bills can feel overwhelming, let alone navigating veterans’ benefits and financial emergencies. Millennial veterans, in particular, are struggling financially.
Prudential’s 2018 Financial Wellness CensusTM survey of more than 3,000 adults aged 25 to 70, including military veterans, found that while older veterans on average are doing better than the general population, many millennial veterans are struggling financially and are stressed about it. While paying off debt and generating income are two key areas preventing them from reaching their top financial goals, the good news is that millennial veterans appear to be doing well in saving for retirement.
Prudential has customized a financial wellness program focused on addressing the needs of veterans, service members, and their families. Recognizing the financial challenges that military caregivers face, Prudential has also extended its Prudential Pathways workshop program and digital Financial Wellness platform to military caregivers. Transitioning back to civilian life can be challenging for many military veterans and their caregivers, but financial wellness programs can help address their needs so they can live well today and plan for tomorrow.
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Jan 22, 2020
Jan 22, 2020
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