Often forgotten by advisors and clients alike are unique nuances of family economic planning. Things have changed over time, and if ignored or tucked away, we can be blindsided by the realities that are presented to us down the road. I have featured a few below.
Advances in medical care mean that people are living longer. That doesn't just mean being prepared to extend your financial plan from 90-95 years old. It means more. Check out this article to see what I'm referring to.
Families don't all look the same, and even if at one point they did.....they don't anymore. Family members also view things very differently, and that is just nature for the most part. A Mother's view on finance, savings, and investing does not get enough attention in my opinion. This interview I watched this week highlights that, and if you a reader, I would recommend picking up this book.