Planning for Life
By: Mark Steffe
President and CEO
May 11, 2022 | 5 min. read
"Lifelong financial security for our Nation’s military families” —First Command Vision
At First Command, we believe that motivating people to begin planning for their financial future early in life is an essential element of the work we do. But as our company Vision makes clear, we are equally committed to ensuring that our clients receive the personal financial coaching they need at every stage of their lives. That’s why we have invested considerable time, effort and resources in expanding and refining our ability to meet the needs of clients when they leave active duty, and as they approach and navigate retirement.
Life after the military
First Command was founded by a retired military officer for the very specific purpose of improving the financial well-being of service members and their families. But let me be clear: our commitment to assisting you in the pursuit of your goals does not end when you separate or retire from active duty. We are well prepared to work with you to identify and replace lost military benefits, advise you on your Thrift Savings Plan (TSP) options, help you evaluate the investment options available to you in your new employer’s retirement savings plan, and update your financial plan to ensure that it fully reflects your new circumstances and goals.
Retirement and beyond
For most people, a major inflection point in their financial journey occurs when they begin preparing for retirement. That’s the point at which their focus necessarily shifts from accumulating assets to figuring out how they can use their assets to generate a predictable stream of income. It’s also the point at which a number of key financial milestones that require making informed decisions arise.
You will likely have lots of questions at this stage. How much money do we need to retire? How much can we afford to withdraw from our investments every month? Should we allocate our portfolio more conservatively? What’s the best age to begin receiving Social Security? How can we minimize our tax bill? Does an annuity make sense for us?
We’re prepared to help you answer all of these questions. Your Advisor has ready access to our team of experienced and knowledgeable planning specialists and can collaborate with them to ensure that your portfolio is properly allocated and diversified, identify any gaps in your financial plan, make specific recommendations and even develop a comprehensive retirement income plan.
Few things are more satisfying to me than hearing directly from our clients how their Advisor has helped them make successful transitions in their financial journey. I encourage you to take a moment to share in the positive experiences of the Horton and Hughes families.
Talk to your Advisor
No matter where you are in your financial journey, we’re ready to help. So, if you anticipate upcoming changes in your circumstances or goals, reach out to your Advisor now. We appreciate the confidence you have placed in First Command, and we are committed to helping you consistently make the smart financial decisions that are essential to long-term financial security.
Get Squared Away®
Let’s start with your financial plan.
Answer just a few simple questions and — If we determine that you can benefit from working with us — we’ll put you in touch with a First Command Advisor to create your personalized financial plan. There’s no obligation, and no cost for active duty military service members and their immediate families.