A Mother’s Day Gift That Lasts A Lifetime
May 14, 2023
Celebration of Mother’s Day typically comes with bouquets of flowers, boxes of chocolates, fruit baskets, photo frames, and other cute but meaningless gifts that rarely address the true financial and personal sacrifices that women and mothers do for their families.
This year, consider doing something more meaningful and more unique. Together with a bouquet of flowers, send your Mom (or your spouse) a booked appointment with a financial planner.
How do you see your Mom (or your spouse) in her retirement years? Happy? Active? Independent? Taking on new hobbies? Enjoying her life? Traveling to see the grandkids? Taking care of her health and well-being?
Unfortunately, the realities for many women in our society are significantly less rosy. Many women go through the last years of their lives worried about paying for their bills and prescriptions, and lamenting the growing medical expenses, rising property taxes (or rents), and grocery bills. Rather than gardening, traveling, or babysitting grandchildren, they are forced to look for part-time jobs, skip their medical checkups, cash out their CDs, and cut their budgets to make sure the bills are paid. Many need assistance with daily living activities, at-home care, or even nursing home stays.
So, even though the flowers and chocolates matter, so does careful financial planning for those women in your life whom you care about the most. Because the chocolates will be eaten, the flowers will wilt, and knickknacks will get placed on the shelf (or in a storage box), but the gift of financial independence will stay with your Mom for a lifetime.
What kind of planning could provide true lasting value to your Mom (or your spouse)?
- Social Security benefits planning
- Medicare and Medicaid planning (yes, those programs do need careful planning to maximize their benefits)
- Consolidation of available retirement funds
- Retirement income catch-up planning
- Tax planning (to avoid overpaying taxes on money received during retirement years)
- Planning for guaranteed income outside of Social Security
- Life insurance and living benefits
- Long-term care planning
- Wills, trusts, and estate planning
How to get started?
Book a free 30-minute appointment to go over the financial planning topics that could help your Mom to identify her needs and preferences for her retirement income, expenses, and lifestyle.
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