<$BlogRSDUrl$>

Wednesday, March 08, 2006

The military's new financial education website sucks. 
That's the name of the military's portal website for its new financial education program, funded with the proceeds of a $12 million dollar fine levied against First Command Financial Planning.

My review: It blows chunks.

It's not that the information in it is bad - it's just that it's not specific enough to be of much use to the soldier. For example, it devotes as much space to Equity Indexed Annuities - a conservative investment best suited for those aged 60 and over, and which would almost certainly be unsuitable for any young soldier I know - as it does to the Thrift Savings Program, which is the bread and butter of military retirement savings.

It contains no link that I can find to tax information that's of much use to the soldier, even though there are a number of benefits every service member should know about.

Furthermore, the site contains no reference whatsoever to a terrific program, the Military Savings Deposit Program. I mean, did they even try?

The site includes a number of financial calculators, which is good. But it doesn't put the calculators in with the relevant content, and the calculators are poorly chosen. I mean, how many troops do you know who need to use a breakpoint calculator?

The Website was obviously written by NASD types who refused to go out on a limb about anything, and don't know the first thing about soldiers.

Here's another example - the Website has a page on saving for a home. It's for military people. It even includes a page on 100% mortgages, warning people about the dangers.

Believe it or not, It makes no mention of the VA home loan. Anywhere on the website.

Similarly, the Saving for College page makes no mention of the Montgomery GI Bill, if you can believe that. None. Nor does it mention ROTC scholarships and other green-to-gold programs, nor does it mention the terrific state educational programs available in the National Guard, which vary from state to state. But in the state of Florida, for instance, drilling members of the National Guard recieve 100% tuition at any state school. It does mention the Hope and Lifetime Learning credits, but it's buried way deep in the architecture. No mention is made of the importance of keeping assets out of the child's name when it comes to qualifying for need-based financial aid under the Federal system.

There is no discussion of powers of attorney - a huge issue for deploying service members, and one that causes untold grief to a lot of troops who foolishly sign unlimited powers of attorney to untrustworthy spouses, boyfriends, and girlfriends back home.

There is no discussion of the Soldiers and Sailor's act.
The whole thing, really, is just rehashed NASD content designed not for the military, but for the general investor. If this is the best they can do, they need to go back to the drawing board.

The NASD took that 12 million dollars out of First Command, but that money ultimately should be used for the benefit of the troops.

The NASD is trying, but the troops aren't getting their money's worth.


Splash, out

Jason

Comments:
For instance, it doesn't mention that Illinois has the 'Illinois Veteran's Grant' that gives you free tuition for four years at any state-run school? (On top of any GI Bill, college fund etc benefits you may already have?)

Or that Illinois state government has veterans' preference in hiring?

Stuff like that? Just sayin'...
 
Jason,

Who's running this thing? Can you drop me an email so I can go nosing around on it and poke someone in the eye about it?
 
Hey there, can you help me? I'm trying to meet other people to talk about single parent benefit. Do you know of anyone who has used this site (single parent benefit)?
Thanks
 
Hey there, can you help me? I'm trying to meet other people to talk about single parent benefit. Do you know of anyone who has used this site (single parent benefit)?
Thanks
 
Hey there, can you help me? I'm trying to meet other people to talk about single parent benefit. Do you know of anyone who has used this site (single parent benefit)?
Thanks
 
Hi ##name##, this is year one of home schooling for us. My wife is a real trooperchristian school My schedule does not allow me to help as much as I wouldlike. She shows the patience and the kids are learning. We are thankful that we are going this route. Please pass on any good homeschool tips.christian schoolthanks
 
Hi #NAME#. Just found your site via jewelry. Although I was looking for jewelry I was glad i came upon your site. Thanks for the read!
 
I have been following a site now for almost 2 years and I have found it to be both reliable and profitable. They post daily and their stock trades have been beating
the indexes easily.

Take a look at Wallstreetwinnersonline.com

RickJ
 
New Blog Submission Software Takes Total Domination To A whole New Level, And Allows Complete Control Over Any Market and Any Product You Sell.--Renders All Other Marketing Methods Totally Useless by Comparison"
Click here: FREE DEMO
 
The brand NEW! Safelist Autosubmission software XP - blasts your ads to 3.6 Million Safelist recipients at the click of one button.

Automatic-Mailer XP! - 50,000 hits guaranteed to your website every month! - Posts unlimited number of ads - Create unlimited number of profiles - Posts whenever you want! 24/7 - Schedule autosubmission when you are not at home - Sends Html & Text Advertisements.

Order today. Our Software also includes: - Autovalidation feature that automatically validates all your Safelists validation codes - mailbox cleaner feature that automatically keeps your mailboxes clean!

NOW That's an incredible Deal, isn't it? Get Your Astonishing Automatic - Mailer XP Software today!
Click here: AUTO-MAILER
 
Post a Comment

This page is powered by Blogger. Isn't yours?

Site Meter

Prev | List | Random | Next
Powered by RingSurf!

Prev | List | Random | Next
Powered by RingSurf!