You can't put a filter on the financial realities of life. Paying down debt, planning for retirement, saving for college, taking care of aging parents - how do you do it all at the same time? We teamed up with Penn and Kim Holderness to look beyond all those amazing vacation photos and perfectly plated meals you see on social media to share what members of the sandwich generation can do to manage the present while planning for the future.
We've created a variety of resources to help you better understand the financial realities families face today. Listen to the Holderness Family Podcast episodes and read our articles to learn more about:
- Personal savings and managing debt
- Paying for college
- Planning for retirement
- Taking care of aging parents
You can also download our quick guide, Real Life Has No Filter: Preparing for the Financial Realities of Life for checklists, tips and more information on how to approach real life financial challenges.
Holderness Family podcasts and more financial resources
Listen as Penn and Kim Holderness discuss personal savings, managing debt, paying for college, retirement and more with a seasoned financial advisor. Then be sure to check out our articles to learn more about each topic.
Episode 1: Debt and savings
In this episode, Kim and Penn Holderness discuss the challenges of raising a teenager. When the conversation turns to family finances, they learn that not all debt is equal and the cost of debt needs to be considered when deciding financial priorities. Listen to learn more about how to decide between paying off debt now or saving for the future.
Episode 2: Saving for college
After chatting with an author about how to empower kids, Kim confesses that she only has a college savings account for one of her children. Listen as she learns about her options and realizes, in her financial scenario, it's okay to prioritize retirement over funding college for her children.
Episode 3: Saving for retirement
Kim and Penn discuss how to get over the fear of failure. When a financial advisor joins the conversation, the focus turns to retirement and the magic number they need to retire. Spoiler alert: there isn't a firm number but more of a moving target that depends on many factors. Find out what those factors are and what that could mean for you.
Episode 4: Aging parents
In this episode, work meets personal life for Penn and Kim as they explore the emotional challenges that come as your parents age. They also chat with a financial advisor about the financial aspects of caring for an aging loved one. Learn when to seek legal advice and why it's important for families to be proactive, organized and transparent when it comes to protecting older relatives' finances and planning for the future of their estate.
Related resources:
Senior housing options
Helping loved ones discuss medical power of attorney
The cost of assisted living
Estate planning checklist
5 tips for thriving in the sandwich generation
How to budget
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