My advice, from first hand experience is if your family has even the smallest piece of wealth, get a financial advisor. Between estate planning, one’s retirement, one’s own financial make up you have to understand a multitude of laws about all this stuff and it changes all the time. You can miss deadlines, loose money, and at this stage of your life this is something you can not afford.
Two other comments. Be VERY QUIET, discreet about your finances when talking to others. In laws may perceive your house, cars, education as clues to your financial standing/success. The “if I go broke I will move in with my brother, stay with sister,” thinking that you will support them because “we are family” have that discussion way ahead of time.
Lastly, the majority of the middle class 60% has no retirement income other than social security. Let that sink in. A financial advisor will help you with what you have. I am retired and I never made great money while employed. The biggest surprise we found out is that we could not maintain a very modest living situation where we lived. We had to move away from the east coast. We went to two financial advisors to verify. We have in fact moved. Thank you financial advisors.
I've seen too many smart people stuck in financial limbo because they can't agree on "enough." A neutral third party can cut through the emotion and get you moving again.
My advice, from first hand experience is if your family has even the smallest piece of wealth, get a financial advisor. Between estate planning, one’s retirement, one’s own financial make up you have to understand a multitude of laws about all this stuff and it changes all the time. You can miss deadlines, loose money, and at this stage of your life this is something you can not afford.
Two other comments. Be VERY QUIET, discreet about your finances when talking to others. In laws may perceive your house, cars, education as clues to your financial standing/success. The “if I go broke I will move in with my brother, stay with sister,” thinking that you will support them because “we are family” have that discussion way ahead of time.
Lastly, the majority of the middle class 60% has no retirement income other than social security. Let that sink in. A financial advisor will help you with what you have. I am retired and I never made great money while employed. The biggest surprise we found out is that we could not maintain a very modest living situation where we lived. We had to move away from the east coast. We went to two financial advisors to verify. We have in fact moved. Thank you financial advisors.
Good luck
The couples piece is huge.
I've seen too many smart people stuck in financial limbo because they can't agree on "enough." A neutral third party can cut through the emotion and get you moving again.
YES. We see it all the time!