Quick story involving some great clients (names and details slightly modified for anonymity).
Derrick and Lauren Walker are both 42. They live just outside Charlotte, have three kids: 13, 10, 8.
They both have great careers and have household annual income of $365,000 a year.
Life is full… in every sense of the word: Youth sports, vacation(s), family events, business travel, Sunday night endless piles of laundry. Life’s a blur, but a healthy blur.
They received a call that changed things. Lauren’s dad was diagnosed with Alzheimer’s.
Suddenly, their focus expanded from raising kids, to caring for the people who once raised them.
Now the Walker’s are:
- Managing their kids’ school, sports, and activities
- Helping Lauren’s dad with doctor visits and early care decisions
- Assisting Lauren’s parents with their financial situation; insurance, bills, long-term plans, etc.
- Trying to manage their own finances, retirement, and long-term future
In the middle of all this, Lauren said:
“Nic, we’re raising our kids, caring for ourselves, now we’re also caring for our parents—Totally overwhelmed and don’t have a plan for any of it.”
They are smack dab in what we call the sandwich generation.
The Walkers didn’t just need advice, they were really looking for alignment.
They’re now great clients at Know My Plan and we helped them:
- Coordinate care & support for Lauren’s dad
- Build a long-term care strategy for themselves
- Establish a full financial plan for their future
- Begin to plan for college funding without derailing their retirement plans
- Free up mental space to breathe and be present, with both generations
If you’re feeling this same pull, you’re not alone, we help families with this all the time.
We’re not striving to be perfect, we just want to put a plan in place and adjust as needed.
—Nic
P.S. If this story sounds like someone you know, a friend, sibling, or coworker, please forward it. We’re currently taking on great new clients.
This is a hypothetical situation based on real life examples. Names and circumstances have been changed. The opinions voiced in this material are for general information only and are not intended to provide specific individualized investment, tax or legal advice for any individual. We suggest that you discuss your specific situation with a qualified, legal advisor and financial advisor.
