Dear Friend, chances are fairly good that the phrase “Sandwich Generation” describes you.
The Sandwich Generation: Caring for yourself, your children and aged parents.
The rising life expectancy has led to the growth of the ‘Sandwich Generation’ –
men and women who are caregivers to their children of varying ages as
well as for one or both parents whilst still managing their own
household and work responsibilities.
Caring for an aging parent and your children is a compassionate but
often stressful undertaking. It can take a huge emotional toll on
everyone in a family, and the financial impact can hit very hard.
How are you preparing for these triple Financial Threat?
|
|
Would you jeopardize your own
finances and future, and risk putting your children in the same tough spot down the line?.
Being a sandwiched generation has plenty of financial landmines that
could dent your savings and investment plan, but if you draw some
uncomfortable but necessary boundaries, then you could be off on a good
start. The needs of your loved ones are important but so also is your
financial and retirement planning.
With deliberate planning and setting clear priorities, you can take care
of your aged parents and children financially while making sure you
have a sound plan to take care of yourself and your spouse.
|
|
|
A few tips to get you started
|
|
Financial inventory.
Gain an understanding of your parents' assets, income sources, living
expenses and debts. Also, know where important documents are kept so you
can access them if necessary.
Insure your family
The monthly cost of caregiving can be challenging even for those with
deep pockets. Long-term care insurance can be a solution to Parent's
future care &
Medical costs. Be sure to also protect your family from any disruptions
to your income, starting with life insurance.A good life insurance
policy should cover several years of your salary, plus enough to pay off
your debts.
Make real estate your source of Income during Retirement
Is real estate a good way to generate strong returns for retirement?
Absolutely. Having a reasonably steady, and a mostly predictable income
stream is the Holy Grail for retirees. This is why investors love real
estate.
You’ve heard it, now it's time to take action: 08133894831, 07039369237
Comments
Post a Comment