Mailbag: Should I Help My Parents with Long-Term Care Costs?

For those in the sandwich generation, you may be wondering how much to help aging parents who weren’t prepared for long-term care costs or your children trying to pay for college. Is it wise to step up financially to help them or are you better off focusing on your own retirement savings? In this episode, Eric answers this question as well as two more regarding CD rates and what to do if facing a potential market crash. 

 

Here are the questions we cover on today’s show:

• Mailbag: My parents didn’t do a good job saving for the future and I’m worried about long-term care needs. Should I help them out or avoid this to save for myself? (1:22)
• Mailbag: Should I jump on the current CD rates? (5:23)
• Mailbag: I’m worried about a market crash, but I’m only 40. Do I need to stop worrying? (9:06)

 

Get in touch with the Peterson Financial team: https://petersonfg.com/