Throughout the challenges of recent months, we’ve continued to safely serve investors’ needs. We are thoughtfully evaluating our office openings and in-person appointments. Learn More
Life doesn't happen in neat little boxes. Everything overlaps. If you're getting ready to retire and have children at home, are caring for an aging loved one or are in another situation, you're dealing with multiple priorities. We have multiple ways to help.
That's why your Edward Jones advisor asks questions to understand what's important to you. Once we understand your priorities, we can help you document a specific retirement goal. Then we can develop personalized financial strategies – based on your risk tolerance and current financial picture – to help you achieve it.
Below are some things to consider if you are caring for a child or helping an aging parent.
Many families have children later in life, meaning their college and retirement may be happening at the same time. If you're still supporting a child, you’ll need to prioritize the goals of retirement and paying for education.
There are loans for college but not for retirement. So you may decide you'll focus on contributing to your 401(k) and/or 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.
You may need to juggle your retirement savings 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 begin to navigate caring for an aging parent.