Financially Intentional
Financially Intentional
Being your parent’s retirement plan - Expert Edition Episode 23 (Classic Episode)
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According 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:
Also, 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.
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