![Page 1: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/1.jpg)
PF SMS icons PF SMS icons
learn.extension.org/events/3108
This material is based upon work supported by the National Institute of Food and Agriculture, U.S. Department of Agriculture, and the Office of Military Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368.
Financial Planning Transitions for Different Generations: Touchstones,
Tasks, & Teaching Strategies
1
![Page 2: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/2.jpg)
Connecting military family service providers and Cooperative Extension professionals to research
and to each other through engaging online learning opportunities
militaryfamilies.extension.org
MFLN Intro
Sign up for webinar email notifications at militaryfamilies.extension.org/webinars
![Page 3: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/3.jpg)
Today’s Presenters
3
Barbara O’Neill, Ph.D., CFP®, AFC, CHC Extension Specialist and Distinguished Professor Rutgers University
Lisa Hinz Extension Educator, Leadership and Civic Engagement University of Minnesota Extension
Brian Fredrickson Extension Educator, Leadership and Civic Engagement University of Minnesota Extension
![Page 4: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/4.jpg)
Increase knowledge about characteristics of generations living and working in the U.S. today
Increase knowledge about generational personal finance practices
Increase knowledge about generational personal finance action steps
Increase knowledge about generational financial education resources
4
Today, we’ll …
![Page 5: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/5.jpg)
5
What do you hope to learn today?
Share in the chat pod.
![Page 6: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/6.jpg)
To understand the man you have to know what was happening in the world when he was twenty.
― Napoleon
6 6
![Page 7: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/7.jpg)
It has been said already, but bears
repeating: no blanket statement can sum up an entire group of people. No book, no chapter, no study, no research report can
attempt to do that either.
―Charlie Caruso, author, Understanding Y
7 7
![Page 8: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/8.jpg)
a group that shares birth years, age, location, and significant life events at critical developmental stages
Wikimedia Commons Wikimedia Commons
A generation is …
8
![Page 9: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/9.jpg)
Pere/ Flickr CC2.0
9
![Page 10: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/10.jpg)
Who are the generations? Traditionalist ~ before 1946
Baby Boomer ~ 1946 – 1964
Gen X ~ 1965 – 1980
Millennial ~ 1981 – 1995
Gen Z ~ 1996+
Generational labels and years are not absolute. For this presentation, sources are drawn from research as much as possible and adapted for clarity from Pew Research Center and the Center for Generational Kinetics
Licensed by UMN Extension
10 10
![Page 11: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/11.jpg)
Births by Generation
11 11
![Page 12: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/12.jpg)
25oryounger
26-30years
31-35years
36-40years
41&older
AgeofTotalMilitaryForce(N=2,120,505)
Source: 2015 Demographics: Profile of the Military Community; Department of Defense, Office of the Deputy Assistant Secretary of Defense for Military Community and Family Policy
Generations in our Military
12
![Page 13: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/13.jpg)
25oryounger
26-3031-35
36-40
41&older
AgeofTotalMilitaryForce(N=2,120,505)
Millennials & Gen X
Gen X
Millennials
Gen Z & Millennials
Source: 2015 Demographics: Profile of the Military Community; Department of Defense, Office of the Deputy Assistant Secretary of Defense for Military Community and Family Policy
Generations in our Military
Gen X, Boomers, & Traditionalists
13
![Page 14: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/14.jpg)
0
100,000
200,000
300,000
400,000
500,000
600,000
Ac=veDutyMembers
Ac=veDutyEnlisted
Ac=veDutyOfficer SelectedReserveMembers
SelectedReserveEnlisted
SelectedReserveOfficers
AgeofAc=veDuty&Selec=veReserve-Enlisted&Officers
25oryounger 26-30 31-35 36-40 41&older
n 25 or younger – Gen Z & Millennials n 26-30 years old – Millennials n 31-35 years old – Millennials & Gen X n 36-40 – Gen X n 41 and older – Gen X, Boomers, &
Traditionalists
Source: 2015 Demographics: Profile of the Military Community; Department of Defense, Office of the Deputy Assistant Secretary of Defense for Military Community and Family Policy
Active Duty & Selective Service
14
![Page 15: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/15.jpg)
020,00040,00060,00080,000100,000120,000140,000160,000180,000200,000
Enlisted Officers Enlisted Officers Enlisted Officers Enlisted Officers
Army Navy MarineCorps AirForce
NumberofAc=veDutyEnlistedMembersandOfficersbyServiceBranchandAge
25oryounger 26-30 31-35 36-40 41&older
n 25 or younger – Gen Z & Millennials n 26-30 years old – Millennials n 31-35 years old – Millennials & Gen X n 36-40 – Gen X n 41 and older – Gen X, Boomers, &
Traditionalists
Source: 2015 Demographics: Profile of the Military Community; Department of Defense, Office of the Deputy Assistant Secretary of Defense for Military Community and Family Policy
Active Duty by Service Branch
15
![Page 16: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/16.jpg)
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
Enlisted Officer Enlisted Officer Enlisted Officers Enlisted Officers Enlisted Officers Enlisted Officers
ArmyNa=onalGuard
ArmyReserve NavyReserve MarineCorpsReserve
AirForceReserve CoastGuardReserve
NumberofSelectedReserveEnlistedMembersandOfficersbyReserveComponentandAge
25oryounger 26-30 31-35 36-40 41&older
n 25 or younger – Gen Z & Millennials n 26-30 years old – Millennials n 31-35 years old – Millennials & Gen X n 36-40 – Gen X n 41 and older – Gen X, Boomers, &
Traditionalists
Source: 2015 Demographics: Profile of the Military Community; Department of Defense, Office of the Deputy Assistant Secretary of Defense for Military Community and Family Policy
Selective Reserve by Component
16
![Page 17: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/17.jpg)
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
25oryounger 26-30 31-35 36-40 41&older
AgeofMilitarySpouses-Ac=veDuty&SelectedReserve
AgeofMilitarySpouses-Ac=veDuty&SelectedReserveAc=veDuty
AgeofMilitarySpouses-Ac=veDuty&SelectedReserveSelectedReserve
Source: 2015 Demographics: Profile of the Military Community; Department of Defense, Office of the Deputy Assistant Secretary of Defense for Military Community and Family Policy
Spouses: Active Duty & Selective Service
17
![Page 18: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/18.jpg)
U.S.Genera6onsbythe#s
Now-2050
18
![Page 19: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/19.jpg)
Poll: Which generation are you?
19
![Page 20: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/20.jpg)
Tradi=onalistsa.k.a“GreatestGenera=on”,
Silent,Builders• Great Depression • WW II • Rural Life • Automobile • Family-Faith-School • Telephones (party line) • Silver Screen • Big Bands
Image via Photospin
20 20
![Page 21: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/21.jpg)
• Can-do attitude matched with Will-do accountability
• Most financially secure in recent years
• Value obedience & duty over individualism & pleasure
Strengths of Traditionalists • Loyal • “We are all in this
together” mentality • Value training • Believe in law and order • Thrifty
21
![Page 22: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/22.jpg)
Baby Boomers
• Suburbia • Vietnam • Civil Rights • Kennedy Assassination
• TV • Beatles & Elvis
22
Randstad Canada/CC BY 2.0
22
![Page 23: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/23.jpg)
Randstad Canada/CC BY 2.0
Strengths of Boomers • Size of their cohort – political leverage
• Sense of equality • Value hard work • Team Players • Challengers of status quo
• Notoriously good networkers
• Drive to learn and improve, become self-actualized
• Own considerable proportion of nation’s wealth
23
![Page 24: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/24.jpg)
Generation X a.k.a. Gen X, Busters, Post-Boomers
• Disco, Rap, Michael Jackson, & MTV
• Watergate • Iran Contra Scandal • Challenger Disaster • Berlin Wall down • AIDS • Computers
Licensed by UMN Extension
24 24
![Page 25: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/25.jpg)
• Survivor mentality • Adaptable • DIY / Start from scratch
(means no rules) • Pragmatic
Strengths of Gen X • Prioritizing • Risk Takers • Willing to rock the boat • Independent • Tech Savvy
25
![Page 26: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/26.jpg)
Millennials a.k.a. Gen Y, Nexters, Internet Generation
• Tech Boom • Multiculturalism • 9/11 Attacks, Oklahoma
Bombing, & Columbine High School Shootings
• TV Talk shows and Reality TV
• Internet, email, cell phones
Licensed by UMN Extension
26 26
![Page 27: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/27.jpg)
Strengths of Millennials • Size of their cohort
– 1/3 of the U.S. pop. – 1/4 of the world’s pop.
• Civically engaged • Tech-able • Positive expectations -
hope • Carefully weigh options
before making decisions*
• Continuous learners • Value collective action • Coming in to money • Strong team ethic • Driven to make a
difference • Open to adaptation • Achievement oriented
27
![Page 28: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/28.jpg)
Gen Z Digitals a.k.a iGen, Centennials
28
• Technology revolution • Considerable diversity • Instant results; constant
feedback • Skill gaps • Global mindset - local reality
28
![Page 29: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/29.jpg)
Strengths of Gen Z (after 1996) • Size of their cohort • Stronger work ethic and
entrepreneurial sprit • Skilled web researchers • Diversity breeds
awareness
• Most diverse “rainbow” generation
• Autodidactic mindset: can and will teach themselves what they need to know
• Flexibility
29
![Page 30: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/30.jpg)
• Funding Entitlements vs. Program Sustainability
• Time and Effort – To understand – To build relationships
• Innovation vs. Institutional Knowledge • Racial shifts
30
Potential Challenges or Tensions
30
![Page 31: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/31.jpg)
31
ü Continuous learning, experimenting, and adapting is essential at all ages.
ü Encourage frequent and meaningful contact across all generations
ü Follow reports based on data.
31
![Page 32: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/32.jpg)
32
Thoughts?
Questions?
32
![Page 33: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/33.jpg)
• Books – Deal - Retiring the Generation Gap – Taylor – The Next America (& interview)
• Web – Pew Research Center – Center for Generational Kinetics – interview: “Millennialstobeartheburdenofboomer’ssocialsafetynet”-DavidGreeninterviewsauthorPaulTaylor,TheNextAmerica
http://creative-commons-images.com/handwriting/h/human-resources.html
33 33
![Page 34: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/34.jpg)
Generational Personal Finance
Practices
34
![Page 35: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/35.jpg)
https://www.youtube.com/watch?v=sU5KBUGvM3U
Talkin’ ‘Bout My Generation
35
![Page 36: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/36.jpg)
The Influence of Early Environments
“What imprints on younger people impacts them for the rest of their lives”
- Cam Marston, Generational Insights https://generationalinsights.com/about/
36 36
![Page 37: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/37.jpg)
NEFE Generation Definition
37
![Page 38: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/38.jpg)
Generational Touchstones
Source: National Endowment for Financial Education
38
![Page 39: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/39.jpg)
Life Cycle Tasks That All Generations Pass Through
Source: Take Charge Today, formerly known as Family Economics and Financial Education (FEFE)
39
![Page 40: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/40.jpg)
The Financial Life Cycle
40
Source: Take Charge Today, formerly known as Family Economics and Financial Education (FEFE)
40
![Page 41: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/41.jpg)
Generations Defined
Source: Dr. Ethel G. Jones, Louisiana Tech University, School of Human Ecology
Source: Wall Street Journal: https://www.wsj.com/articles/analysis-of-the-generations-isnt-an-exact-science-1468575000
41
![Page 42: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/42.jpg)
Generational Differences Activity
Source: Dr. Ethel G. Jones, Louisiana Tech University, School of Human Ecology
42
![Page 43: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/43.jpg)
Question #1: How much do you know about generations and
personal finance?
43
![Page 44: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/44.jpg)
Generational Personal Finance
Practices
44
![Page 45: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/45.jpg)
Poverty Levels by Generation
45
![Page 46: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/46.jpg)
Spending Behavior
Source: Bank of America/Merrill Lynch
Take-aways: Millennials spend the most on eating out, Gen X spends the most on housing, Baby Boomers spend the most on furniture/building, and Traditionalists spend the most on groceries.
Source: Dr. Ethel G. Jones, Louisiana Tech University, School of Human Ecology
46
![Page 47: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/47.jpg)
Source: Bankrate Spending Index, July 2017: http://www.prnewswire.com/news-releases/millennial-spending-habits-differ-from-older-generations-300491437.html
Millennial Spending vs. Others
47
![Page 48: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/48.jpg)
Payment Behavior
Source: Next Gen Personal Finance: https://docs.google.com/presentation/d/1e6qcFBx6K-UNpXmzllpGalXKgU4t4XoNspucTFeUJ24/edit#slide=id.g18210699ce_1_6
48
![Page 49: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/49.jpg)
Comfortably Cashless
Source: Next Gen Personal Finance: https://docs.google.com/presentation/d/1-2R_jszVMwlVW2mUvrnPM-EFo6GqhIpRIK9z1LfuinE/edit#slide=id.g1821408edd_0_0
49
![Page 50: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/50.jpg)
Credit Cards By Age
Source: Next Gen Personal Finance: https://docs.google.com/document/d/170znpcLfVahk3H7O4GqbS1u124ABMvuxsvc4DD3X0kM/edit
50
![Page 51: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/51.jpg)
Credit Card Debt by Age
Source: Next Gen Personal Finance: https://docs.google.com/document/d/1LcYwZIXZf1AC0i7v3I6sJEumCt9xZBsAXu8OSAYbx7Y/edit 51
![Page 52: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/52.jpg)
Credit Scores By Age
Source: Credit Karma: https://www.creditkarma.com/trends/age
52
![Page 53: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/53.jpg)
Source: Value Penguin via Next Gen Personal Finance: https://docs.google.com/document/d/1sgTUFbCvNyUbEyAiIiUNsXIAxX9PD4OSoACjt0xzczE/edit
Auto Insurance Premiums by Age
53
![Page 54: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/54.jpg)
Source: Value Penguin via Next Gen Personal Finance: https://docs.google.com/document/d/13kyHDBg91oCZUzmWip7PRCi9CUmFDmg89d1kXHBkuLM/edit
Health Insurance Premiums by Age
54
![Page 55: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/55.jpg)
Health Care Barriers by Generation
55
![Page 56: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/56.jpg)
Income Tax Filing by Generation
Source: GO Banking Rates: https://www.gobankingrates.com/personal-finance/43-percent-americans-file-taxes-comfort-home-survey-finds/ 56
![Page 57: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/57.jpg)
Question #2: Comments so far?
57
![Page 58: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/58.jpg)
Saving and Investing Behavior
Source: T. Rowe Price Report, Issue 135, Spring 2017, p. 14-15; https://individual.troweprice.com/staticFiles/Retail/Shared/PDFs/pricereport_spring.pdf?van=pricereport-spring
58
![Page 59: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/59.jpg)
Cash Asset Allocation
Source: Blackrock survey via Investopedia: http://www.investopedia.com/news/millennials-are-risk-averse-and-hoarding-cash/?lgl=rira-baseline-vertical
59
![Page 60: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/60.jpg)
Savings Goals
Source: Merrill Edge Report, spring 2017: https://olui2.fs.ml.com/Publish/Content/application/pdf/GWMOL/Merrill_Edge_Report_Spring_2017.pdf
60
![Page 61: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/61.jpg)
Generational Saving Perceptions
Source: Merrill Edge Report, spring 2017: https://olui2.fs.ml.com/Publish/Content/application/pdf/GWMOL/Merrill_Edge_Report_Spring_2017.pdf
61
![Page 62: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/62.jpg)
Multi-Generational Housing Arrangements
Source: Next Gen Personal Finance: https://docs.google.com/presentation/d/1RgiqeOwXdA6_HsyjhTyKhq1S51tB3GOj0kInQsItLh4/edit#slide=id.g99918596f_0_129
62
![Page 63: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/63.jpg)
Young Adults Living with Parents
Source: Pew Research Center: http://www.pewsocialtrends.org/2016/05/24/for-first-time-in-modern-era-living-with-parents-edges-out-other-living-arrangements-for-18-to-34-year-olds/
63
![Page 64: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/64.jpg)
Question #3: Thoughts? Comments?
64
![Page 65: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/65.jpg)
Generational Personal Finance
Action Steps
65
![Page 66: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/66.jpg)
Generational Overview
Source: Hagen Jokela, Hendrickson, & Haynes (2013). Teaching Financial Literacy Across the Generations. Journal of Extension, 51(1); https://www.joe.org/joe/2013february/tt6.php 66
![Page 67: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/67.jpg)
General Financial Action Steps
Source: David Lerner Associates’ Guide to Smart Retirement Strategies, David Lerner Associates, Inc., Syosset, NY
67
![Page 68: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/68.jpg)
Blog Post about Generations Source: https://moneytalk1.blogspot.com/2017/07/personal-finance-tasks-by-decade.html
68
![Page 69: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/69.jpg)
Millennials (Gen Y) Age 17-35 in 2017 (b. 1982-2000) • Train for a career and establish a household • Learn to budget and “pay yourself first” • Organize a repayment plan for student loans • Build an adequate emergency fund • Fund a Roth IRA account for retirement savings • Start 529 plans or other savings plans for
children • Build a positive credit history • Minimize taxes (e.g., tax credits)
69
![Page 70: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/70.jpg)
• Explore financial institutions (bank, credit union, etc.) • Increase investing expertise • Invest for the long-term in stocks/stock mutual funds • Buy life insurance to protect dependents and/or
private student loan co-signers • Teach children about personal finance • Balance YOLO/FOMO mindsets with financial
security • Avoid “hoarding cash” to avoid investing • Develop a personal financial identity
Millennials (Gen Y)
70
![Page 71: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/71.jpg)
Generation X Age 36-52 in 2017 (b. 1965-1981) • Don’t forget about old retirement savings plans • STILL invest for the long-term in stocks/stock funds • Diversify investments and rebalance portfolio • Enhance employment skills (build human capital) • Try to “max out” retirement savings plan deposits • Talk to aging parents about their finances
• Consider hiring a financial adviser
71
![Page 72: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/72.jpg)
• At age 50, save more for retirement with catch-up provisions for IRAs and employer savings plans
• Manage increased need for credit and insurance
• Understand that retirement savings generally trumps college savings
• Don’t neglect health in pursuit of wealth • Prepare a will if one wasn’t already created
Generation X
72
![Page 73: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/73.jpg)
Baby Boomers Age 53-71 in 2017 (b. 1946-1964) • Decide when to take Social Security benefits • Determine a retirement income strategy (e.g., 4%
Rule) • Learn about Social Security, Medicare, and pension • Investigate later life housing and living costs • Learn about required minimum distributions (RMDs) • Try to pay off all debt (including a home mortgage)
before retirement • Start taking advantage of “senior discounts”
73
![Page 74: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/74.jpg)
Baby Boomers
• Consider long-term care insurance or earmark a portion of savings to “self-insure”
• Invest in college savings plans for grandchildren • Consolidate accounts for simplification • Consider taking classes and/or building networks
for a “second act” (e.g., freelance work) • Review estate plan and adjust as needed • Care for aging parents or other dependents • Make the most of remaining paychecks to save for
retirement
74
![Page 75: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/75.jpg)
Mature/Silent/Traditionalists Age 72-90 in 2017 (b. 1927-1945) • Get more strategic about philanthropy (e.g., large
gifts, charitable trusts, donor advised funds, etc.) • Talk to children/heirs about finances and estate
plan • Streamline/consolidate financial accounts • Gift heirlooms while alive to see recipient enjoy
them • Downsize and/or donate “stuff” • Hire help as needed (e.g., yard work, cleaning)
75
![Page 76: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/76.jpg)
Mature/Silent/Traditionalists
• Make it easy to manage money and pay bills (e.g., direct deposits and automatic withdrawals)
• Make sure family members know where to find personal and financial documents
• Adjust lifestyle to a declining real income, if needed • Take RMDs from retirement savings plans • Regularly review beneficiary designation on life
insurance and retirement savings plans
76
![Page 77: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/77.jpg)
Don’t Forget Generation Z!
Video: https://www.youtube.com/watch?v=K1HyDn7dZ1o
Born 1994-2010 (approx.) next cohort of future employees
Video: https://www.youtube.com/watch?v=I7N1JJo6eFg
77
![Page 78: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/78.jpg)
Gen Z Take-Aways
• Make up 25 percent of U.S. population • 62% anticipate challenges: work with Boomers/Gen
X • Realistic thanks to skeptical Gen X parents,
recession • Competitive with “do it yourself” mentality • 74% prefer to communicate face-to-face • 75% say there are other ways to get a good
education than going to college Source: https://www.inc.com/ryan-jenkins/generation-z-vs-millennials-
the-8-differences-you-.html 78
![Page 79: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/79.jpg)
The Military Lifecycle
Source: Consumer Financial Protection Bureau (CFPB) Office of Servicemember Affairs: https://s3.amazonaws.com/files.consumerfinance.gov/f/documents/201705_cfpb_OSA_Military-Lifecycle-Report.pdf
79
![Page 80: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/80.jpg)
Question #4: Other action steps by
generation?
80
![Page 81: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/81.jpg)
Generational Personal Finance
Resources
81
![Page 82: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/82.jpg)
Journal of Financial Planning Blog Post
Source: https://practicemanagementblog.onefpa.org/2017/06/27/be-a-gen-savvy-planner-take-off-your-generational-lenses/
82
![Page 83: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/83.jpg)
A Classic: Journal of Family and Consumer Sciences Article
Source: O'Neill, B. and Brennan, P. (1997). Financial Planning Education Through the Life Cycle. Journal of Family and Consumer Sciences, 89(2), 32-36.
83
![Page 84: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/84.jpg)
Military Saves: Financial Strategies by Generation
Source: https://militarysaves.org/blog/1296-financial-strategies-by-generation 84
![Page 85: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/85.jpg)
Life Cycle of Financial Planning
Source: Family Economics and Financial Education: http://www.ktufsd.org/cms/lib/NY19000262/Centricity/Domain/94/Life_Cycle_of_Financial_Planning_PPT.pdf and http://mainstreetwealthgroup.com/wp/wp-content/uploads/2011/12/Life_Events_of_Financial_Planning.pdf
85
![Page 86: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/86.jpg)
Financial Tips for Generations
Source: http://www.360financialliteracy.org/Topics/Budgeting-Spending/Budgeting-Saving/Real-life-Financial-Tips-for-Different-Generations 86
![Page 87: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/87.jpg)
Teaching Different Generations
Sources: https://www.joe.org/joe/2013february/tt6.php and https://www.slideshare.net/sondramilkie/teaching-financial-literacy-engagement-of-multigenerational-learners
87
![Page 88: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/88.jpg)
NEFE® White Paper
Source: http://toolkit.nefe.org/Portals/0/NEFE%20Evaluation%20White%20Paper%20October%202016.pdf?ver=2016-10-31-154554-707
88
![Page 89: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/89.jpg)
Question #5: Other good
generational personal finance resources?
89
![Page 90: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/90.jpg)
Key Take-Away for Practitioners: Don’t Impose YOUR “Social Clock” on Other People! Social Clock: “a cultural timeline of expectations of what people should do at a certain age” (William Doherty, U of Minnesota)
– Late 20s/30s: “So when are you two going to have a baby?”
– Late 50s/60s: “So when are you going to retire?”
– Late 60s/70s+: “Are you still working? Why?”
https://www.wsj.com/articles/its-ok-to-party-when-you-turn-60-1500914273 90
![Page 91: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/91.jpg)
Connect with MFLN Family Transitions Online!
MFLN Family Transitions
MFLN Family Transitions @MFLNFT
MFLN Transitions
91
![Page 92: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/92.jpg)
Connect with MFLN Personal Finance Online!
MFLN Personal Finance
MFLN Personal Finance @MFLNPF
PF SMS icons PF SMS icons
92
![Page 93: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/93.jpg)
MFLN Intro
We invite MFLN Service Provider Partners to our private LinkedIn Group!
https://www.linkedin.com/groups/8409844
DoD Branch Services
Reserve Guard
Cooperative Extension
![Page 94: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/94.jpg)
Evaluation and Continuing Education Credits/Certificate
MFLN Personal Finance grants 1.5 credit hours for today’s webinar for AFC-credentialed through AFCPE and CPFC-credentialed participants through FinCert. MFLN Family Transitions issues a certificate of attendance to those interested in receiving one from today’s webinar. Please complete the evaluation and post-test at: vte.co1.qualtrics.com/jfe/form/SV_ebMoeIoNIBF2eZT Must pass post-test with an 80% or higher to receive certificate.
94
![Page 95: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/95.jpg)
Personal Finance Upcoming Event
2017 Personal Finance Year in Review • Date: Tuesday, Dec. 5, 2017 • Time:11 a.m. ET • Location: learn.extension.org/events/3070
For more information on MFLN Personal Finance go to: militaryfamilies.extension.org/personal-finance For more information on MFLN Family Transitions go to: militaryfamilies.extension.org/family-transitions 95
![Page 96: PF SMS icons - Military Families Learning Network · Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368. Financial Planning Transitions for Different](https://reader034.vdocuments.us/reader034/viewer/2022042712/5f894f8f96f3136e2e59a565/html5/thumbnails/96.jpg)
militaryfamilies.extension.org/webinars
This material is based upon work supported by the National Institute of Food and Agriculture, U.S. Department of Agriculture, and the Office of Military Family Readiness Policy, U.S. Department of Defense under Award Number 2015-48770-24368.