HCR Wealth Advisors is addressing the needs of the “sandwich generation.” This term refers to individuals who are in their late 30s up to those who are in their early 50s. The Pew Research Center has found that 1 in 7 adults in this age group are financially helping their college-aged children and their elderly parents at the same time. This, plus factoring in the need to pay their own bills and save for their own retirement, can put serious financial strains on the adults having to take care of their family.
As a registered investment advisor, HCR Wealth Advisors can help you set up a strategy to plan for your financial future. The firm provides personalized financial advice in order to help clients reach their financial goals and protect clients against financial risk.
No matter the status of a family’s finances, individuals should try to prioritize their own retirement. For example, an individual can regularly contribute to a company-sponsored retirement plan if a company offers one. This can be especially valuable if the employer matches contributions. By contributing as much money as possible into the retirement plan, a person can get the full benefit of the match. This can reduce or eliminate the need to rely on children for finances later down the road.
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