Brunson, Snow & Gustafson, Mid-Life Career Change: Career Military Versus Noncareer, Financial Counseling and Planning, V. 9(1)

Brunson, B.
H., Snow, M. & Gustafson, A. W. (1998).Mid-life career change: Career
military versus noncareer military financial well-being and financial satisfaction.
Financial Counseling and Planning, 9 (1), 41-52.

Mid-Life Career Change: Career Military Versus Noncareer
Military Financial Well-Being And Financial Satisfaction

Bruce H. Brunson,(1)
Mike Snow(2) and A. William Gustafson(3)

This study investigated the effect of a mid-life
career change on the financial well-being and satisfaction of career and
noncareer military personnel who were retired or near full retirement.
Subjects were divided into two groups: those with and those without military
retirement pay. This article addresses variables affecting subjects’ financial
satisfaction and financial well-being. Based on regression analysis, there
were significant differences in financial satisfaction between career and
noncareer military personnel as measured by The Retirement Descriptive
Index. There is a difference in the two groups for those with family income
above $100,000.

Key Words: Career Change, Financial Planning, Life Satisfaction,
Military, Retirement

Codebook (almost 40 pages)

1. Bruce H. Brunson, Assistant Professor, Family
Financial Management, Virginia Tech University, 101 Wallace Hall, Blacksburg,
VA, 24061-0410. Phone (540) 231-6178, Fax (540) 231-3250. E-mail:

2. Mike Snow, Instructor of Mathematics, Department
of Mathematical Sciences, Midwestern State University, 3401 Taft Boulevard,
Wichita Falls, TX 76308. Phone (904) 397-4443, Fax (904) 397-4442, E-mail:

3. A. William Gustafson Associate Professor, Family
Financial Planning, Texas Tech University, Box 41162, Lubbock, TX 79409.
Phone 806-742-3050, Fax (806) 742-1639. E-mail:

This research was funded by the Center for Financial Responsibility,
Texas Tech University.

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