HCR Wealth Advisors: The Sandwich Generation

There is perhaps no better group of people to receive financial advice than those who are stuck as part of the “sandwich generation.” These are people who are in their late-thirties to early-fifties that are struggling to figure out how to financially help both their aging parents as well as their adult children. It is not a position that most people ever want to find themselves in, but that is how a 1 in 7 people in the age group mentioned above are living today.

 

Think About Retirement First

 

Your own retirement is the first thing to focus on. In other words, you ought to consider your own retirement before trying to help others. It is something that does not come naturally to everyone, because helping family members is something we want to do. However, relying on others for financial support is not a sustainable way to live.

 

HCR Wealth Advisors underscores that it is best to focus on your own finances first and helping out your loved ones with the money that is left afterwards. That is the only way that you can make up ground on your own financial terms.

 

Consider Your Parents’ Health Circumstances

 

There is no time like the present when it comes to talking to your parents about their health circumstances. It is not an easy conversation to have of course, but it is still a conversation you need to have nonetheless. You need to figure this out in order to try to calculate what your total expected costs might be when it comes to paying for their healthcare costs.

 

Get a College Fund Set Up Immediately

 

There is nothing better for your child’s finances than to get a college fund set up for them as soon as possible. You want to have your money growing in it as much as possible in order to give the most funds possible to your child when they are ready to attend college. It is the only way that some students will ever have the opportunity to become students in the first place. Make it a priority.

For jobs at HCR Wealth Advisors, visit Glassdoor to learn more or connect with them on Facebook @HCRwealth.

 

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One comment

  1. Just like what is been stated in this material, financial advice can go a long way in changing things for people in different areas of business. Some might think that essay help in uk is not relevant that’s not true because they are like a glue to brings success to people through the advice that they provide. Its something that often times I have found very challenging and they have been there for me.

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