To My Readers,
I was recently asked by two different people whether they should focus on saving for their retirement, paying for their children's college, or both.
Many families out there see college as an investment in their children’s future. But as important as education is, you can’t neglect your own needs.
To pay for college, students have several options:
Loans
Scholarships
Grants
Work-study programs, etc
But how many ways are there to pay for your retirement?
Will anyone give you a loan or grant so you can stop working and retire?
While your children are important, they have their entire financial lives ahead of them. If you have to choose, it's wiser to put on your own oxygen mask first, before helping others.
Thank you,
Sid Misra, CFP® Beacon Financial Group
Have questions about your finances? Let me know!
I'm happy to have a quick conversation to address any questions/concerns you may have and to see if we would be a good fit to work together
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Those of you over the age of 50:
Want to make sure you have enough money for retirement?
You have to plan for it 👈🏽
Want to take income without paying more in taxes than necessary? And without running out of money?
You have to plan for it 👈🏽
Want to leave money behind to those you love but in a way that still gives you control?
You have to plan for it 👈🏽
Working professionals under the age of 50:
Want to know that you are doing enough with your resources, like time? ⏳
You have to plan for it 👈🏽
Want to be able to save for the future while also enjoying the present? ⚖️
You have to plan for it 👈🏽
Want to give your kids the opportunities you didn't have?
You have to plan for it 👈🏽
💡 Financial security and freedom don't just happen
You have to plan for it 👈🏽
What are you planning for?
Who are you planning for?
Estate Planning
I recently met with prospective clients who already have their estate planning documents in place.
They have Wills, powers of attorney, and other important documents. But in the time since they got these done (15 years),
✅ Their net worth increased
✅ They bought a second home
✅ Their kids are going to college next year
✅ There are some long-term medical issues that need to be addressed
Their documents are out of date and do not reflect their current financial position. Their documents also do not reflect their current and future needs.
So, here is a friendly reminder to make sure all of your estate planning documents are up to date.
If you are unsure about what needs to be addressed, reach out to me for a quick consult. I'm happy to help!
The opinions voiced in this material are for general information only and are not intended to provide specific advice financial or tax recommendations for any individual.
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