Photo By Petty Officer 2nd Class Mandy Hunsucker | Wally Barstow, a financial adviser for Fleet and Family Support Center, conducts a...... read more read more
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By Petty Officer 3rd Class Mandy Hunsucker
Fleet Public Affairs Center Atlantic
NORFOLK, Va. – The Fleet and Family Support Center hosted a town hall meeting on board Naval Station Norfolk, Oct. 30, 2008, that openly discussed the current financial crisis and how it may affect Sailors and their families.
The meeting consisted of a panel of financial professionals who addressed concerns Sailors may have on investments, Thrift Savings Plan, savings, insurance, mortgages, home buying and taxes.
"The two main topics in this program that seem to be the most important to the Navy community are TSP and their ability to get loans," said Wally Barstow, FFSC representative. "The questions of the Navy community became voluminous enough to where FFSC decided to put these meetings together so we could have the opportunity to address a lot of questions all at once."
The panel consisted of five local subject matter experts: Jodi Vergara, Amphibious Base Naval Base Federal Credit Union; Ron Stowe, Summit Mortgage; Bill Slingerland, Navy Mutual Aid; Mike Leach, retired FFSC financial educator; and Michelle Viola-Hudele, volunteer income tax assistant.
"The information put out at these meetings is very important," said Leach. "It is meant to help people understand that they don't need to panic, even though we are in a financial crisis within the country right now. If you've been investing in something like TSP and you're wondering if you should take your money out and put in somewhere "safer," the panel will explain why that's a bad idea in this market."
Most Sailors who attended the meeting agreed the information put out was helpful.
"This meeting had a lot of useful information, especially for those who are like me and are trying to save money," said Petty Officer 2nd Class Trinade Jones, USS Mason. "I learned that I could have saved probably $80,000 on my home purchase if I had waited about two years."
FFSC will be hosting more town hall meetings of this nature throughout November and December in the Hampton Roads area.
| Date Taken: | 11.01.2008 |
| Date Posted: | 11.01.2008 01:26 |
| Story ID: | 25803 |
| Location: | US |
| Web Views: | 209 |
| Downloads: | 152 |
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