Title: Explore the financial planning process.
Course: Navy JROTC IV (09104) > Section: Managing Personal Finances

Exploration should include

- recognizing the importance of having clearly defined goals
- calculating one’s net worth
- examining options for saving for retirement, including military options
- recognizing what to look for in a professional financial planner.

Process/Skill Questions:

- At what age can you start withdrawing from a 401(k) without penalty?
- Who is eligible to contribute to a Thrift Savings Plan (TSP)?
- Which type of retirement account gives you a tax break on the contributions?
- Which type of retirement account has no income tax due on withdrawals in retirement?