HCR Wealth Advisors is a registered investment advisory firm that works with clients to develop personalized financial strategies. The firm seeks to help people meet their financial goals, which can be an involved process. For those caught in the “sandwich generation,” HCR Wealth Advisors offers some guidance that could prove helpful.
The “sandwich generation” refers to those adults who are in the process of financially caring for both their elderly parents and also their own children. They are “sandwiched” between the economic concerns of both sets of dependents. Of course, the members of the “sandwich generation” must also look after their own financial situation as well. Otherwise, a fiscal tragedy could ensue.
So, don’t overlook the importance of putting money away for many years—or not-so-many years—down the road. Your children will reach college age someday. Will there be enough money to pay for their education? Answering such a question requires addressing those concerns now.
You must also take your own future into consideration. Someday, you will be retired just as your parents may be. Not saving enough money to cover your own golden years could also create a disastrous situation. You may be forced to work well into your 70’s. Life also may be exceptionally frugal when it lacks the funds to cover expenses.
That’s one reason why you should examine your parents’ expenditures. The Los Angeles-based HCR Wealth Advisors educates clients on investment strategies. The firm can help you address your own financial anxiety, check out @HCRwealth for more information.
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