At Income Financial Advisors, we understand that multi-generational financial planning presents its own unique set of challenges. That’s why we are dedicated to helping adult children of ageing parents plan towards their financial goals.

While there is no one-size-fits-all approach when it comes to investing, there are some strategies that adult children of aging parents should consider. Below are four investment strategies you can explore when working with our team of financial advisors:

1. Tax Advantaged Investments – Investing in tax-advantaged accounts – such as IRAs and 401Ks – lets you not only delay paying taxes on investments but also diversify your portfolio across a range of asset classes.

2. Investing for the Long-Term – Many of our clients are focused on their short-term financial needs. However, for long-term financial success you should also consider investing towards your future. This means looking into vehicles such as stocks, bonds, mutual funds and ETFs.

3. Diversification – A diversified portfolio helps maximize returns while reducing risks. Consider investing in a mix of stocks, bonds, mutual funds and ETFs to ensure that your investment portfolio remains balanced.

4. Wealth Transfer Planning – Many clients also come to us to explore options for transferring wealth between generations. This involves weighing different estate planning strategies, such as gifting assets or setting up trusts.

We understand that each client’s needs are unique. When you work with our team, we’ll take the time to understand your priorities and develop a tailored financial plan to meet your goals. So let’s get started.