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Military Finance Analysis

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It was Thanksgiving 2013, my husband and I had decided to spend the holiday with my twin sister and her husband in San Diego, CA. To continue the family tradition of making a true homemade Thanksgiving dinner, she and I made a dinner for all of her fellow sailors and her and my husbands’ fellow marines who could not be with their families that day. While enjoying our after dinner comatose we began talking about finances. It’s probably not the usually topic of discussion, but I learned something interesting. All the service members that were there had had the same issue with their finances. All had issues with saving a little nest egg for when they departed the military and start their new journey in the civilian world. After hearing this I thought of a study published on March 8th, 2013 by Richard Thaler …show more content…

Similar to SMT, the same three steps would be implemented to improve the savings rate being applied to the EAS fund. The EAS funds would then be released to the individuals departing the military to be used for living expenses while they settled into their new career paths. This would relieve them of the additional stress that finances can bring during major life changing events. It is recommended that the average individual has about three months’ worth of living expenses saved in their savings account. With this type of situation I would recommend about six months’ worth of living expenses in the EAS fund allowing for some additional wiggle room for spontaneous expenses. I believe it would be in the best interest of many to do research in implementing this solution and thus, promoting a brighter future for our veterans who have, at a young age, sacrificed so much for

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