Being your parent’s retirement plan - Expert Edition Episode 23 (Classic Episode)
Podcast: Financially IntentionalPublished On: Tue May 09 2023
Description: Send us Fan MailAccording to recent studies, more than 50% of millennials are financially supporting their parents. The statistics get even more interesting. Did you know that almost 75% of these millennials are women.I also share my concerns about how caring for my parents will affect my finances in these episodes with Dr. Jay:When should you start planning for Long Term Care?Long-Term Care Planning Part 2Also, according to a 2015 TD Ameritrade study, one in five millennials support their parents by spending an average of $18,250 per year. We discuss:How to budget taking care of parents. How to avoid depending on your children by adequately funding your retirement. The role of high divorce rates amongst baby boomers plays.Subsidizing retirement with a rental property.Support the show---Grab your spot in my free Financial CPR class and learn the simple steps I used to go from paycheck to paycheck to my first million.Please join me here, and follow me on social media, Instagram, and Facebook.Need help getting started on your path to financial freedom? Start HereJoin the Financially Intentional Community Oh and please subscribe and leave a review on whatever app you're using to stream this podcast. Get my book Smart Money
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