Financial Advice for Parents of Adult Children – Sandwich Money Part 2

Are your kids starting new jobs? Graduating college soon? Getting promoted? Do they listen to you? Do you wish there was a mutual third party to help set them up for financial success? This video is part 2 of a 3 part series called “Sandwich Money”, where Sophie and Mike discuss financial advice for adults who are sandwiched between raising children and caring for aging parents. Part 1: Financial Advice for Young Parents Part 2: Financial Advice for Parents of Adult Children Part 3: Financial Advice for Adults with Aging Parents Topics in this episode include Financial milestones for young adults What should people consider with their first job offer? Story: max your match, not max your contribution Getting an unbiased third party for financial advice Uncomfortable family conversations about money Quality time instead of financial logistics and numbers How do you introduce your young adult to a financial advisor? What changes financially when you become an empty nester? If you have multiple kids, who do you want to name as the executor? A health scare that ended up positively Cautionary tale: Have written agreements Approaching the Estate conversation with your adult children Ideal sequence of financial conversations for your adult children with an advisory team What happens if you can’t think of someone to be the executor of your will? What’s the scope of a corporate trust? When do lawyers get involved? Connect with Sophie LinkedIn: Sophie Howell Cook Wealth Bio: Sophie Howell Connect with Mike LinkedIn: Michael Holloway, CFP® Cook Wealth Bio: Mike Holloway