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USAA’s Financial Readiness Tool

Today we have Joseph “JJ” Montanaro on the show. JJ is a Certified Financial Planner with more than 20 years of experience in the financial services industry. His daily focus has been to help families realize their goals and his advice has appeared in numerous outlets including the Wall Street Journal, USA Today, CNNMoney.com, MarketWatch.com, Military Spouse Magazine, and the Washington Post and more. 

Prior to joining USAA in December 2002, JJ owned and operated an office as a financial planner. Before entering the financial services industry, He served in the U.S. Army as a Tanker for six years on active duty, and in 2009 he retired as a Lieutenant Colonel. He is a member of the Financial Planning Association and earned his bachelor’s degree in engineering from the United States Military Academy, West Point, N.Y. 

USAA’s new tool called the Financial Readiness Score (FRS), is a free online and mobile tool that helps USAA members assess and improve their overall financial well-being by assigning a score of 0-100, while also allowing them to see how life’s “what if’s” – like military separation – will change that score. Below are a few examples of some of the information FRS asks about to help create your financial plan

  • Employment status
  • Individual and Household annual income
  • Health Insurance
  • Rent or Own Your Home

Once completed, members receive personalized, actionable advice on how to improve their scores. The score and advice update each time the member interacts with the tool – so the plan never goes out of date. USAA has invested more than two years to build the patent-pending tool as part of its mission to facilitate the financial security of members and their families.

Resources from Today’s Show

Some more you will hear in the show:

  • Do you know your Financial Readiness Score?
  • The Financial Golden Rule
  • Do you have all of your important paperwork in order?
  • How little changes can affect your financial security
  • Some of USAA’s core financial advice