Caring for a family member

Author

Edward Jones - Chad Choate, AAMS

Posted on

Dec 03, 2021

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Life doesn't happen in neat little boxes. Everything overlaps. While you're dealing with multiple priorities, we have multiple ways to support you.
That's why your Edward Jones financial advisor asks questions to understand what's important to you. Once we understand your priorities, we can help you document specific goals. Then, together, we can develop personalized financial strategies based on your risk tolerance and current financial picture to help you achieve them.
Below are some things to consider if you are caring for a child or helping an aging parent.
Child to support?
Supporting a child doesn't have to mean placing your retirement and other goals on hold .There are loans for college but not for retirement. So you may decide to focus on contributing to your 401(k) and/or Roth vs traditional IRA. However, if you feel strongly about helping your kids go through college relatively debt-free, you may want to focus more on your college savings options.
We don't believe you have to pick one goal over the other. Remember, there are ways to balance the goals of saving for education and retirement.
Caring for an aging parent?
You may need to juggle your financial goals with the needs of your aging parents. Even if you don't have to contribute financially, you may need to spend time and energy making sure your parents situation remains positive.
Use our financial checklist to help you navigate caring for an aging parent

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