A lot of people can relate to the experience of having trouble dealing with their finances. Only a privileged few are able to say that they never have to worry about money. Fortunately, there are firms that are willing to help you reach your financial goals.
The Sandwich Generation
HCR Wealth Advisors is a registered investment advisory firm that helps clients create personalized financial strategies. One group in particular that benefits a lot from financial advice are those in the so-called Sandwich Generation. These are people who have children relying on them to help pay for college expenses and, at the same time, have parents who might also require some financial assistance in their retirement. It is a very tight spot to be in, trying to increase your own savings while supporting your children and your parents.
Life Changes All the Time
There is a famous quote that the only two sure things in life are death and taxes. Most of us can relate to that on some level or another. We understand that we are not going to escape either one of those things, but beyond that it is hard to predict what else will take place in our lives. Therefore, it is smart to prepare for the unexpected.
Focus on Yourself First
The reality is that we have to focus on our own finances first. This means prioritizing preparing for retirement before trying to help out other people in the family. This is not about being mean or cold-hearted. Rather, it is about doing what you have to in order to ensure that you are not put in a position having to rely on the help of others in the future.
Have a Frank Conversation with Family Members
Sometimes there is just no getting around having some very honest conversations with family members. It is the only way to help everyone understand that while they are deeply loved by you, you may not always be able to help them.
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