Tailored Financial Planning Ltd’s Post

Many couples and individuals in their 40s and 50s are financially supporting older parents and their children (young or adult) in some manner. While the desire to provide that support is understandable, the financial implications can be significant. Most of life's transitions result in financial disruption which is why we aim to build our clients financial confidence for whatever comes next. And we do that with Transition Planning. Reach out if you want to learn more. #personalfinance #wealthmanagement

Have you ever head of the term sandwich generation? It's been a term that has been used for decades. Here's a refresher for what it means: The sandwich generation is people who have to take care of two generations at once — typically your parents and your children. They're "sandwiched" and feel a lot of financial strain, from expenses such as elder care or paying for college. Being the sandwich generation is a lot more relatable than you think — click on the link below to read a few tips and tricks

Are you aware of the government benefits available to special needs individuals in California? Our latest blog dives into the essential state and federal public benefits that can help secure your special needs loved one’s financial future. From SSI to CalABLE, we’ve outlined the crucial programs and how to apply for benefits. Read more here: https://hubs.la/Q02q8ZPQ0 #SpecialNeedsTrust #SNT #GovernmentBenefits #SpecialNeedsPlanning

Current Anxiety Points for American Families: 1. Economic Concerns: Rising inflation, high housing costs, and increased living expenses are major worries. Families are concerned about job stability and financial security. 2. Education: Issues related to school safety, quality of education, and the impact of learning disruptions (like those caused by the pandemic) are significant stressors. 3. Healthcare: Access to affordable healthcare and rising medical costs are ongoing concerns, particularly with the complexities of insurance coverage. 4. Childcare: Finding reliable and affordable childcare remains a challenge, impacting parents' ability to work and manage household responsibilities. 5. Mental Health: Increased awareness of mental health issues has led to concerns about access to mental health resources for both children and adults. 6. Political Climate: Polarization and political instability contribute to anxiety, with families worried about the impact on their communities and future. 7. Safety Concerns: Issues like gun violence and crime, particularly in schools, have heightened anxiety about the safety of children. 8. Climate Change: Growing awareness of environmental issues has led to anxiety about the future, especially concerning extreme weather events and their impact on communities. 9. Affordable & Fair Housing: Overly competitive housing markets making it difficult for families to choose how or where they want to live. No matter what happens tomorrow, next week, or even next year, these points will still remain. Choose to approach our concerns as a team, regardless of who our Captain is and how we feel about them.

📰The Children's Society's Good childhood report 2024 is a national roadmap to a good childhood and calls for the government to take decisive action to overturn the decline in children’s wellbeing ⤵ https://lnkd.in/dvF4yXvZ #ChildFirst

As parents, we may often focus on providing for our families—working hard to give them everything they need. But in the midst of it all, we sometimes forget the two most precious resources we have: Time ⏳ and Health 🔋. Without these, no amount of wealth matters. 💭 Think about it… 🤔 What’s the point of financial success if you’re too exhausted to enjoy it with your kids? 🤔 How can we give our best to our families if we’re constantly stressed about bills and money? The truth is, many parents like us are feeling the weight of financial worries while trying to balance everything—our work, our children, and our personal wellbeing. But it doesn’t have to be this way. We don’t have to choose one over the other. We can create a balance, and have it all. Imagine a life where you can reduce your financial stress, improve your family’s financial health, and still have time for yourself. It’s possible, doable, and been done. I’m working on a new program designed specifically for parents of young children to support you: ✅ Lower money stress ✅ Build financial resilience ✅ Balance your personal needs without sacrificing family time It’s created with parents in mind—those who know that time and health are as important component of a really R.I.C.H. family. I am opening up a waiting list so you can stay tuned for more details on how you can join this amazing community. Click the link in the comment to join the waiting list! #Parents #FinancialHealth #MoneyWorries #WorkLifeBalance #TimeManagement

Parents and grandparents often question how much is too much (or too little) to give to their kids. Considerations can include affordability, values, financial literacy, psychological readiness to use money productively, perceptions of equity and fairness, financial need... Our head of advice and planning gives perspective.

Are you one of the 60 million Americans living in a household with either grandparents, grandchildren, or two+ adult generations? Here are some ways to streamline your financial planning so that it is beneficial to everyone in your home. https://lnkd.in/gbNCzqa #planyourfuture

While parents have the duty to provide financial support during their children's early years, the situation becomes more complex once kids graduate and join the workforce. The decision of whether to continue offering financial assistance—and the extent of that support—can significantly impact parents' mental and financial wellbeing. https://lnkd.in/ebupirVz

How long should parents support their adult children financially? Could this kind of long-term assistance actually be a bad thing in some cases? 🤔👪 About a third of young adults (18–34) live at home with their parents. It makes sense why: we’re living through a cost-of-living crisis, and it’s much harder for young people to “launch” their financial futures than it used to be. But is there a point where access to the Bank of Mom and Dad can start to hurt a young person’s development? When should parents draw the line, for the sake of helping their kids become responsible financial citizens? Parents also need to think about how financially supporting their adult children might be encroaching on their plans for the future. That includes things like Aging & End of Life Planning (are you still on track to fund your retirement and your later-life health care?) and Legacy Building (will you still have enough left over in your Estate to support causes that are important to you?). This article by Michelle Singletary for the Washington Post explains how to tell the difference between financial support and financial enabling. Check it out here: https://lnkd.in/gqJMFguJ #LeaveALegacyMonth #AgingandEndOfLifePlanning #LegacyPlanning #AgingPlanning #EndOfLifePlanning #EstatePlanning #FinancialPlanning