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Employee Uses FRS to Adjust Her Financial Plan

by Community Manager

‎09-28-2016 04:44 PM

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Veronica Brown is saving for a house, paying down debt and has created a living will.

 

 

Veronica Brown had a plan for buying a home. But after learning her Financial Readiness Score, she realized that her plan was problematic.

 

“I had thought about using my 401(k) but doing that is usually not the best idea,” Brown admits. “So I opened a separate account and started putting money in that, and it’s building up fairly quickly.”

 

Brown, a USAA auto adjuster in Phoenix, worked on the awareness campaign for the FRS and made sure she took advantage of the tool.

 

“One of the biggest things I realized was that I didn’t have a living will,” she says. “I didn’t want my 22-year-old son to have to make those decisions. So I now have a living will that gives me more peace of mind so my son does not have to make difficult decisions for me.”

 

By getting her FRS, Brown also learned the importance of paying down debt. She is even leaving her credit cards at home and increasing her payments. “Before, I was using them for things that I pay cash for now,” she says.

 

Brown recommends the FRS tool to her co-workers and members. “I know a couple of people who don’t want to do it,” she says. “It’s not invasive. It’s a good tool for letting you know where you are, and it offers suggestions based on what your goals are.”

 

Check your Financial Readiness Score at least annually or whenever your financial situation changes.

 

 

A Financial Readiness Score should not be used as the primary basis for making investment or financial decisions. A Financial Readiness Score provides a basic assessment that is based on information and assumptions provided by you regarding your goals, expectations and financial situation, but it does not guarantee financial success or replace more detailed financial planning. The calculations do not infer that USAA assumes any fiduciary duties. Consider your own financial circumstances and goals carefully before investing or purchasing financial products. Before making any decision, consult your own tax, financial or legal advisors regarding your situation. Information provided by you in connection with the Financial Readiness Score tool is voluntary, will not be considered in connection with a request or application for credit or insurance products/services, and may be used by USAA for marketing and other business purposes as set forth in the USAA Privacy Promise.

   

 

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Briana Hartzell

Briana Hartzell

Briana knows all about moving. This Navy spouse has helped her husband relocate to four different naval air stations in the last three years. A former USAA employee, Briana writes at Being Briana, a blog focused on the joys military life can bring.

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Wendy Poling

Wendy Poling

Wendy is a social media strategist and founder of MyMilitaryLife.com, featuring a popular military spouse blog and the hit podcast Navy Wife Radio and now Military Life Radio. She is the wife of a submariner who has also served in Afghanistan.

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Charles Pratt

Charles "Chazz" Pratt

Charles "Chazz" Pratt III is a former U.S. Army Captain who made the Military-to-Civilian career transition in 1994. In his book, The Fort Living Room Transition Course, he shares valuable tips & tricks to help you succeed. Since his transition from the military, he's worked for several Fortune 500 companies, including Pfizer, Genentech, and St. Jude Medical, among others.

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Joseph Montanaro

Joseph "J.J." Montanaro

Joseph "J.J." Montanaro is a CERTIFIED FINANCIAL PLANNER™ practitioner.

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