Should TSP/Roth be a formal block of instruction during Basic Traing?

2016-05-10T14:43:31-04:00

Many junior soldiers don't know this exists or what it is. If given the chance in basic they can start saving within that first year, and by 20 years will have 6 figures saved, what do you think

Response by 1stSgt Private RallyPoint Member made May 10 at 2016 2:45 PM

2016-05-10T14:45:21-04:00

Recruits, for the most part lack the maturity for this, in my opinion and experience. I would make this part of an annual training criteria.

Response by LTC Private RallyPoint Member made May 10 at 2016 2:45 PM

2016-05-10T14:45:27-04:00

Maybe at reception station.

Response by SFC Private RallyPoint Member made May 10 at 2016 2:46 PM

2016-05-10T14:46:34-04:00

It probably should be. I know that as a drill sergeant, during the end of BCT we try and give the soldiers advice on this type of stuff. It's not into detail though. I always tell them to link up with their first line leader once they get to their duty station.

Response by LTC James Bozeman made May 10 at 2016 3:35 PM

2016-05-10T15:35:36-04:00

No - not during Basic - it should come during AIT or later in OSUT. In Basic there is too much to focus on for just getting transitioned. A secondary argument could be made for minimizing the problems associated with those who don't make it through basic.

Response by SSG Private RallyPoint Member made May 10 at 2016 3:37 PM

2016-05-10T15:37:31-04:00

I was required to attend a "Finance Brief" when I arrived at my first duty station for in-processing. The TSP was included in that brief.

Response by MSgt John McGowan made May 10 at 2016 3:45 PM

2016-05-10T15:45:31-04:00

SSG: I would have to say yes. The young or juniors arn't looking at the big picture. In my civilian job we had many new one that didn't sign up. I did as the older guy manage to talk a few in and was told thank you when I retired. If there is matching funds you are just giving money away. I have been drawing on my 401k for 6 years now and still have a pretty good amount left

Response by COL John McClellan made May 10 at 2016 4:56 PM

2016-05-10T16:56:32-04:00

I wonder if there isn't a "financial readiness" block somewhere already in the TRADOC POI for OUST? It's an aspect of deployment readiness for Soldiers, and of course unit leaders address their Soldier's finances frequently - but usually these are interventions into a "situation" after the damage has already happened!! Also much of the "mandatory annual training" happens in large venues with 1/2 day or long periods of time on one boring topic after another, and so it doesn't always connect. Seems to me the best way here would be at the Squad / small unit level, something on a par with "SGT's Time" training except instead of tactical / MOC tasks or battle drills, this is a "life skill" that requires a mentoring environment that only trusted leaders close to the Soldier can deliver. Great idea maybe for a PL to put together a "packet" w/help from the PSG, but for instruction by SLs...?

Response by MAJ Rene De La Rosa made May 10 at 2016 5:14 PM

2016-05-10T17:14:37-04:00

This will be important, especially when the retirement program changes over. There is a serious need for financial education that will allow the common man to understand. We are asking 17 and 18 year olds to understand the current financial system that is still confusing to me.

Response by CPT Private RallyPoint Member made May 10 at 2016 8:53 PM

2016-05-10T20:53:46-04:00

TSP/Roth and basic financial decision making.

Response by 1SG Private RallyPoint Member made May 11 at 2016 1:21 PM

2016-05-11T13:21:29-04:00

When I was a Drill Sergeant from 2008-2010 our Soldiers always received a brief during red phase about TSP and were given the opportunity to sign up if they were active duty. The brief was during the finance class and it was only about a 15 min portion of that.

Response by SPC Private RallyPoint Member made May 11 at 2016 4:00 PM

2016-05-11T16:00:37-04:00

I think Basic training has enough blocks of training as it is... plus it is "basic" training. TSP should be a mandatory class during AIT. Luckily I received a TSP class during AIT and it was very informative, if I would have not received that class I would have never known about it.