Financial Advice for Parents of Adult Children – Sandwich Money Part 2
Are your kids starting new jobs? Graduating college soon? Getting promoted? Do they listen to you? Do you wish there was a mutual third party to help set them up for financial success? This video is part 2 of a 3 part series called “Sandwich Money”, where Sophie and Mike discuss financial advice for adults who are sandwiched between raising children and caring for aging parents.
Part 1: Financial Advice for Young Parents
Part 2: Financial Advice for Parents of Adult Children
Part 3: Financial Advice for Adults with Aging Parents
Topics in this episode include
- Financial milestones for young adults
- What should people consider with their first job offer?
- Story: max your match, not max your contribution
- Getting an unbiased third party for financial advice
- Uncomfortable family conversations about money
- Quality time instead of financial logistics and numbers
- How do you introduce your young adult to a financial advisor?
- What changes financially when you become an empty nester?
- If you have multiple kids, who do you want to name as the executor?
- A health scare that ended up positively
- Cautionary tale: Have written agreements
- Approaching the Estate conversation with your adult children
- Ideal sequence of financial conversations for your adult children with an advisory team
- What happens if you can’t think of someone to be the executor of your will?
- What’s the scope of a corporate trust?
- When do lawyers get involved?
Connect with Sophie
Connect with Mike
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