Prepare, prepare, prepare.

That was the core main message during the Empowering Troops for Financial Transition webinar on April 20, which was aimed at service members getting ready to leave the military.

The webinar, Presented by Bank of America and hosted by Military Times, the webinar featured panelists who were veterans-turned-workplace-experts who offered advice on how to make a smooth transition to the civilian world.

"Sometimes decisions that you think you'll be making are sometimes made for you," said Vivian Greentree, a Navy veteran and senior vice president and head of military and veterans affairs at First Data Corporation. "The more that you can plan for these financial considerations, the better off you'll be when you get to that point."

Lewis Runnion, senior vice president of public policy and director of military affairs at Bank of America, said the military’s one-third/two-thirds 1/3-2/3 planning rule still applies.

"Take two-thirds 2/3 of your time to plan for one-third  1/3 of your mission," said Runnion, a former Army officer. "If you want to retire, you should have been planning up to that point."

Runnion said there are many tools available, including those from the Veterans Affairs Department and Bank of America's Better Money Habits.

He encouraged making smart financial decisions aimed at setting up financial stability, like choosing a car that’s more in line with your income and long-term goals. finances.

"Avoid things like getting into debt when you do your transition," he said. "Probably the Number 1 drain of money … is the purchase of an automobile."

He said to think about financing, and when you do finance, understand what those rates are.

Phillip Carter, a former Army officer and senior fellow at the Center for a New American Security, specializing in veterans and military issues, said building a network ahead of transitioning to military life is another key to a smoother experience.

"Leverage all the folks who have gone in your footsteps before," Carter said. , also an Army veteran.

Runnion echoed that sentiment and suggested that troops find the most successful veteran they know who's transitioned and ask how they did it.

"What made them successful and what their challenges were, and model after them," he said.

Retired Brig. Gen. Belinda Pinckney, president and CEO of BHP Consulting, LLC, who is also the Treasurer of the Army Women's Foundation, said troops should have a feel for what they're worth when looking for jobs since it's usually easier to know that as a service member.

"The military tells us what we're worth," said Pinckney, the event moderator. "And it tells us when we're going to get promoted."

Carter said someone in the military would never think about going out on a mission without having reviewed all available intelligence, and the same applies to finding a job and negotiating salary as a civilian.

"You need to know what you need to make to survive and thrive in a certain place," he said. "You have to negotiate and be your best advocate."

Carter also suggests using job-search web sites such as like CareerBuilder, Glassdoor and LinkedIn to learn more about what a company offers.

"Don't take a reasonable position right out of the gate," he said. "Ask for a little more."

Greentree, a Navy veteran and spouse, said service members can also prepare to enter the civilian work force by attending career fairs and talking to different companies.  will help prepare service members.

"Especially [companies] you might not be interested in because then you're not as nervous," she said.

It's also good to talk to companies about your career trajectory, she said.

"Do you have a plan for me to progress?" is a question veterans should be asking their potential employer.

Carter encourages transitioning service members to go into the civilian world and embrace it.

"Maintain the good habits you had, but become a civilian," he said. "Success in the civilian world is different, but you can succeed as a civilian and still be okay."

For more information, visit bankofamerica.com/militarytimes.