Making your kids be financially independent is important if you want to be ready to retire when the time comes
Without the financial pressures of your children’s tuition bills, your cash flow should increase significantly. Instead of celebrating with an overpriced vacation, keep your spending modest and put more money away for the future. This way, your retirement feels like a vacation and you’re less stressed about finances later.New regulations allowing your kids stay on your health plan until they turn 26 do not mean you have to let them.
Side hustles and second jobs are normal for young adults, so don’t feel bad for saying no if financially supporting your grown children is not in your best interest.Once you’re finished paying for your children’s college, you’re able to start focusing again on saving for your financial future—but there are more steps to take to free up as much of your current income as possible. .
Securities offered through Kestra Investment Services, LLC , member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC , an affiliate of Kestra IS. Brotman Financial Group, Inc. and BFG Financial Advisors are not affiliated with Kestra IS or Kestra AS. I have been in the financial planning and wealth management industry since 1994, and launched a firm in Maryland in 2003. My passion is helping multi-generational famil...
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