The “Sandwich Generation” refers to middle-aged adults who are financially supporting both their parents and their children while attempting to prepare for their own retirement. The combination of these financial pressures can be stressful as college costs continue to rise, people are living longer, and retirement may be further away than expected.
HCR Wealth Advisors is a registered investment advisory firm that helps its clients develop a strategy to help them reach their financial goals and prepare for their future. HCR Wealth has made it their mission to establish relationships through education, trust, and services.
While HCR Wealth gives advice specific to each client, a few big trends apply to almost anyone in the Sandwich Generation.
If you do have children, preparing for their college expense early, as well as the possibility that they may return home after college, is crucial to having enough money saved up for their studies.
Contributing to retirement accounts is very important and can be especially beneficial when employers match your contributions. Having plenty of money saved up for your retirement should allow you to not have to rely on your children later in life.
Additionally, individuals who expect to help care for their aging parents should assess their parents’ financial situation. This includes learning about their income, investments, health care plans, and whatever long-term insurance they have. Knowledge of their current situation makes it easier to anticipate how much financial assistance they will need and then prepare accordingly.
HCR Wealth can help individuals to prepare for whatever curveballs life throws at you and protect you against risk. HRC Wealth clients come for a combination of services and stay because of the quality of attention and advice they receive, and the relationships they establish with the firm.
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