Earlier this month, the Center for Innovation and Research on Veterans & Military Families held a two-day summit to discuss the issue of financial readiness for transition from military to civilian life. Experts from the financial sector, government and academia gathered to discuss the state of current programs and research. In recent years, Prudential and the USO have partnered to provide financial curriculum that can address the needs. Chuck Sevola and Jim Beamesderfer from Prudential and Kylee Durant of the USO discuss their partnership and how it is addressing a critical need.
Financial wellness in terms of transition is a very important element. I think the problem that we see is a lot of service members who are transitioning don’t see it that way. Unfortunately, … they find out when it’s too late.
-Chuck Sevola
Vice President, Veterans Initiatives, Prudential
There’s been an emphasis to helping veterans transition to higher education or to employment. Those things need to be addressed, but transitioning to those without some kind of financial wellness or readiness doesn’t equal success. If I have a job but I don’t know how to manage my money, I could still be in debt. I could still end up in a bad situation.
– Jim Beamesderfer
Vice President, Veterans Initiatives, Prudential
We believe our private partnerships with Prudential are the key to that success. They bring expertise. They bring scale. They bring infrastructure. They bring the fire power that we as a nonprofit organization don’t necessarily have.
– Kylee Durant
Vice President, Transition Technology & Innovation Programs, USO
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