Military families save better for retirement with the help of afinancial planner.
That’s according to the FirstCommand Financial Services Inc.'s Financial Behaviors Index,which found that 75 percent of middle-class military families (commissionedofficers and senior noncommissioned officers in pay grades E-5 andabove with household incomes of at least $50,000) who work with afinancial advisor contributed to savings and retirement accountsduring the first quarter. That’s 32 points higher than those who donot use an advisor.
Service members who work with a financial advisor were also morelikely to contribute to short-term savings (79 percent, comparedwith 53 percent for those without an advisor). Monthly mediancontributions for the two groups are $500.
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