Some in the military appear to be financially defenseless when it comes to anything from finding a loan to coping with a financial emergency.
In a survey of service members conducted on behalf of the National Foundation for Credit Counseling 77 percent of the respondents said they were having financial woes of some type, while 55 percent feel they are unprepared for retirement.
Of those who had taken out loans, 11 percent had to resort to military relief to get the money; 31 percent of service members also feel they don't have enough money to cover an emergency or an unexpected expense. Such desperation can lead to soldiers and sailors being taken advantage of or scammed outright.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
