It’s a conundrum that many families face: “How can I take care of my children and my parents, financially, while effectively investing for my retirement?” If you are in this situation, you know that your financial planning strategy may need adjustments during this stage, but with the right plan you can still be on the path toward your retirement goals while also helping loved ones. Here are some important tips while you navigate a few seasons of life:
Money can’t buy happiness. Most experts agree that happiness is often tied to the things we’re passionate about, and simply being wealthy is not, on its own, the recipe to happiness.
Most parents plan on paying for their children’s expenses up to age 18, and many also make a plan for helping with college expenses.
Did you know the word “wellness,” while having been coined in the 1600s, didn’t really appear in the American lexicon until the late 1970s? It defines a lot more than physical wellbeing. Today, wellness lends itself to a number of meanings, including financial wellness, which is about everything from income to credit scores to the stress we incur due to finances.
Lincoln Financial Group shed some light recently on a topic regarding women and .
Flashback for a moment. The Great Recession during the early 2000s was life-changing for many members of the workforce. Nearly 8.7 million people lost their job over that roughly three-year period and had to make several new transitions. Enrollment at four-year universities, community colleges and technical schools spiked as people prepared themselves for a career switch. That means their planning for retirement also changed.
From traveling cross-country with the top down to spending hours each week volunteering at the local animal shelter, everyone has an idea of personal freedom, especially when it comes to money and retirement.
Family Investment Center has recently launched a new website as a resource to help individuals get to their idea of freedom.