Retirement and Income Planning for Adult Children of Aging Parents

At Income Financial Advisors, we understand that you might not have considered retirement and income planning for your aging parents, and that you likely feel overwhelmed. We are here to help you navigate the complexities of this situation and provide you with the guidance and resources to make informed decisions about your parents’ financial future.

Retirement and income planning for adults should encompass:
• A thorough assessment of your parents’ current financial situation. This includes analyzing their current income level, savings, investments, debts, and any other financial obligations.

• Evaluating your parents’ retirement goals and needs and determining the appropriate level of save for retirement.

• Developing a retirement income and distribution plan that best meet your parents’ needs and wishes. This involves setting aside funds for immediate needs, including potential long-term care expenses, as well as assessing their individual tolerance for risk.

• Creating a long-term financial plan for your parents to provide for the continuation of their lifestyle in retirement. This can include investments, diversified portfolios, and strategies such as life settlement investments.

At Income Financial Advisors, our professional advisors are committed to helping you create a retirement