Everyone needs to make sure that they have enough money to live in life. Sometimes, people have to depend on people who are their relatives or loved ones just to make ends meet. This is the type of action that many children, young adults, and seniors take in life. Most people do not want another person supporting them. However, situations of dependence sometimes happen due to factors beyond a person’s control.
Middle aged adults between the ages of 30 and 55 are considered the highest earning wage group in the country. These individuals typically are settled into their careers, have savings put aside and typically have a surplus of cash they can use to cover many extra expenses. As a result, this age group is often called upon to support their children and their parents when they fall on hard times. Truth be told, this is something that is expected of them.
The term “sandwich generation” is used to define any middle-aged person who has to take care of their children while taking care of their parents at the same time. People who come from the sandwich generation need to make sure that their finances are in order and that they are strong enough to handle the extra stress of senior adults, young children or their young adult kids who are not able to move out on their own.
The independent advisors at HCR Wealth encourage the sandwich generation members to stay committed to their retirement funds. They want middle age people to understand that they first must maintain and/or increase their finances before they can help the people around them. Sooner or later everyone must retire. When they do, they should have enough money coming in to ensure that they can adequately support themselves and the people they love—if that need arises.
HCR Wealth Advisors is registered investment advisory firm that can develop a financial strategy for clients that is practical to implement within their current lifestyle. They can also help sandwich generation people to protect their finances from risky investments and to improve their ventures with greater returns.
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