Military voters focus on pay and benefits for midterm elections

FORT WORTH, Texas – Career military voters are focusing on pay and benefits as their top issues in the midterm elections. 

The First Command Financial Behaviors Index® reveals that 83 percent of voters in career military families (commissioned officers and NCOs in pay grades E-5 and above with household incomes of at least $50,000) identify changes to military retirement and other benefits as extremely or very important in choosing who to vote for in November. This compares to 44 percent of general population voters.

Military voters are also focusing on concerns related to defense spending. Eighty-six percent of military voters say that changes to the DoD budget – specifically those that could potentially impact their military benefits, compensation and career – are an extremely or very important election issue. Defense spending in general was identified by 79 percent of military voters. These issues were identified by significantly fewer general population voters (46 percent for changes to DoD budget and 51 percent for defense spending).

“While these national issues are clearly important to many Americans, the higher level of interest we’re seeing among military voters underscores the direct impact on their families and careers,” said Scott Spiker, chairman/CEO of First Command Financial Services, Inc. “Government policies that affect military pay and benefits are uniquely personal for those who have made the military their career. Our survey findings suggest that the majority of middle-class service members and their spouses expect to cast their votes for the candidates who they feel best understand and are most committed to addressing these issues.”

Other critical money-related election issues identified as extremely or very important by voters include:

• Social Security benefits, which were selected by 81 percent of military voters and 76 percent of general population voters.
• Cost of healthcare (79 percent versus 83 percent) 
• Home values (74 percent versus 57 percent)
• Interest rates (74 percent versus 57 percent)
• Private sector jobs (74 percent versus 56 percent)

“The heightened interest among military voters in private sector jobs emphasizes the key role that military spouses play in generating household income,” Spiker said. “Military wives and husbands possess a strong work ethic, and two out of three are working full time. But at the same time frequent relocations make it difficult to find and keep meaningful work. Candidates should keep employment issues in mind as they seek to appeal to military families in the November election.” 

Eighty-six percent of military survey respondents and 85 percent of civilian respondents plan to vote in the midterm elections.

About the First Command Financial Behaviors Index®

Compiled by Sentient Decision Science, Inc., the First Command Financial Behaviors Index® assesses trends among the American public’s financial behaviors, attitudes and intentions through a monthly survey of approximately 530 U.S. consumers aged 25 to 70 with annual household incomes of at least $50,000. Results are reported quarterly. The margin of error is +/- 4.3 percent with a 95 percent level of confidence. http://www.firstcommand.com/fbi/

About Sentient Decision Science, Inc.

Sentient Decision Science was commissioned by First Command to compile the Financial Behaviors Index®. SDS is a behavioral science and consumer psychology consulting firm with special vertical expertise within the financial services industry. SDS specializes in advanced research methods and statistical analysis of behavioral and attitudinal data.

About First Command

First Command Financial Services and its subsidiaries, including First Command Financial Planning and First Command Bank, coach our Nation’s military families in their pursuit of financial security. Since 1958, First Command Financial Advisors have been shaping positive financial behaviors through face-to-face coaching with hundreds of thousands of client families.

First Command Advisory Services, Inc., First Command Insurance Services, Inc. and First Command Bank. Financial planning services and investment products, including securities, are offered by First Command Financial Planning, Inc. , a broker-dealer. Financial planning and investment advisory services are offered by First Command Advisory Services, Inc., an investment adviser. Insurance products and services are offered by First Command Insurance Services, Inc., in all states except Montana, where as required by law, insurance products and services are offered by First Command Financial Services, Inc. (a separate Montana domestic corporation). Banking products and services are offered by First Command Bank. In certain states, as required by law, First Command Insurance Services, Inc. does business as a separate domestic corporation. Securities products are not FDIC insured, have no bank guarantee and may lose value. A financial plan, by itself, cannot assure that retirement or other financial goals will be met. First Command Financial Services, Inc. and its related entities are not affiliated with, authorized to sell or represent on behalf of or otherwise endorsed by any federal employee benefits programs referenced, by the U.S. government, or the U.S. armed forces.