Equipping Points:
For those in the sandwich generation, you may be wondering how much to help aging parents who weren’t prepared for long-term care costs or your children trying to pay for college. Is it wise to step up financially to help them or are you better off focusing on your own retirement savings? This dilemma is a common one and something a financial advisor can help you to navigate realistically. When you come through a planning process, you might discover an opportunity to help your parents or other family members without hurting your financial future.
Eric answers this question as well as two more regarding CD rates and what to do if facing a potential market crash. If you ever have a question for Eric, be sure to reach out in order to make sure you are retirement ready.
Here’s what you’ll learn on today’s show:
- Mailbag: My parents didn’t do a good job saving for the future and I’m worried about long-term care needs. Should I help them out or avoid this to save for myself? 1:22
- Mailbag: Should I jump on the current CD rates? 5:23
- Mailbag: I’m worried about a market crash, but I’m only 40. Do I need to stop worrying? 9:06
If you have any questions about what we discussed on the show or want to follow up with any financial planning questions of your own, get in touch with us and schedule a visit here.
Today’s Takeaway:
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