This website offers practical, financial advice to later-in-life parents, whether they’re found in the “sandwich generation” or simply planning retirement while raising young children.
Almost half of Americans between 45 and 60 have children under 21, with many also caring for aging parents. According to AARP, that number will only increase as more baby boomers move closer to their “golden years.” Unfortunately, most are unprepared for a financial future, or feel they are.
A case in point is Andrea, off to her retail job after dropping Aidan at our middle school. She doubles as family chauffeur while car-less husband commutes on rail (her soccer-playing daughter gets dropped off at Las Lomas High School).
“It’s getting harder, worrying about college for both kids, while my husband and I save virtually nothing for retirement,” says Andrea. Though her husband has a decent managerial job downtown, they’re both in their early 50’s with only modest 401(k) plans between them. Their household income covers expenses, but sacrifices (like the second car) have been made. “We don’t travel much, and nice clothes are out of the question,” she says. “We need to figure how the kids go to college without jeopardizing our own retirement.”
Late In Life Parents wants to provide reasonable, actionable roadmaps to help Andrea and others accomplish their dual investment roles of retirement planning and college placement.
Leave a Reply