The Prosperity Solutions Group® Expands Services to Help Military Transition to Civilian Life
Founded in 2016, The Prosperity Solutions Group® (PSG) is the creator of The Financial Acumen Course®, an online course which teaches financial life skills and strategies. PSG also presents in-person workshops, seminars, and online webinars to promote financial literacy and sound business practices for entrepreneurs. In May 2023, PSG stepped up to support transitioning military members and veterans in today’s economy of high inflation, increasing interest rates, and lagging wages. Accordingly, the Navy Supply Corps Foundation recently adopted The Prosperity Solutions Group’s services to present a financial transitions webinar, “From Sailor to Civilian”, on June 28, 2023, to its members.
Military members often realize significant discrepancies between military pay and benefits compared to those of civilian employment. Military pay is structured much differently, and converting an apples-to-apples comparison to civilian compensation can be confusing. Consequently, transitioning military members often underestimate or miscalculate their needs upon leaving active duty service. Between cost-of-living adjustments, taxes, and added household expenses (such as healthcare and life insurance), many soldiers, sailors, and airmen experience a notable decline in living standards after leaving active duty due to higher costs outside of the military culture.
Veterans often end up relying on credit resources to offset the disparity between military versus civilian income and expenses. As a result of using credit as an extension of income, newly discharged or retired veterans commonly accumulate significant, increasing debt balances. The Prosperity Solutions Group is a veteran-owned company familiar with addressing and preventing such issues. The PSG Military Transition Program strives to help each veteran avoid financial problems and proactively prepare for a secure financial future.
The Prosperity Solutions Group’s recent support initiative focuses on two core groups of military members: those preparing to separate or retire from military service, and those who have already separated but who underprepared for their lifestyle transition to civilian life. Each group experiences unique economic challenges. Accordingly, PSG’s Military Transition Program addresses the respective financial considerations of both.
The purpose of PSG’s initiative is to help service members make at least an equitable shift without taking steps backward in standards of living. Ideally, veterans should experience lifestyle enhancements via improving financial habits, employing sound financial strategies, and realizing improvements to household cashflow. More information about PSG’s Military Transition Program is available on The Prosperity Solutions Group’s financial services website, https://YourDebtFreeFuture.com/.