Employee Uses FRS to Adjust Her Financial Plan

Community Manager
Community Manager
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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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