How Kids and Grandkids Affect Retirement

Phil's Tax Hacks

Kids and grandkids play a crucial role in shaping financial plans, often in ways that can significantly impact your retirement strategy. In this episode, we'll dive into the most common scenarios where future generations influence retirement planning. From funding college education to creating lasting financial legacies, we'll explore how to balance your retirement goals with the needs of your family.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:30 – Adult kids that are still on the payroll

5:35 - Parents who had kids later in life

8:23 – Grandparents who want to help with education costs

9:45 – Relying on your kids to take care of you in old age

11:40 – Cultivating financial literacy in your family

15:22 – Children with disabilities

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