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.