Four generations of women posing together

The New Retirement: 3 Things to Think About Now

If you think your retirement is going to look like your parents’ or grandparents’ retirement, think again. Here are three things you should be considering:

1. The Bank of Mom and Dad won’t always be open. There are two sides to this. If you’re currently supporting your adult children, you’re not alone. According to a BMO Wealth Institute study, 81% of parents say they have provided their adult children with some financial support. However, you’ll want to evaluate if that’s possible to sustain in the long-term. Ask yourself: Will helping my adult child (buy a house, afford a vacation, transition to a new job …) put my own financial future in jeopardy?

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