As one year ends and another begins, there is an opportunity to reflect, renew, and reshape our priorities. Many of my clients are eager to close the door on the current year after navigating the loss of a partner or closing the chapter on their marriage with a divorce. Using this time to set meaningful resolutions can be an empowering
New Year Resolution #3: Balancing Children and Aging Parents as a Single Parent in the Sandwich Generation
Navigating life as a single parent can be a significant challenge on its own, but when combined with the responsibilities of caring for aging parents, it can feel overwhelming. The “sandwich generation”—those simultaneously supporting both their children and their parents—often find themselves stretched thin both financially and emotionally. Here are practical tips to help single parents in this situation manage
Saving For College As A Newly Single Parent
As a newly single parent, saving for your children’s college education can seem daunting, but with careful planning and informed decisions, you can create a solid financial strategy to secure their future. At HB, this is an area in which we routinely advise our clients. Below are some of the essential steps and considerations that are part of building a
Navigating Financial Changes: Adjusting Private School And Travel Sports Expenses
Facing financial adjustments is a challenging aspect of transitioning to a single life after a divorce or the loss of a spouse. One of the most difficult decisions can involve making changes to your children’s educational and extracurricular activities, such as private school and travel sports, which you may no longer be able to afford. This situation requires careful consideration,
Grieving clients need a patient and empathetic advisor
Financial advisors often develop deep, personal relationships with clients. Some would even argue that’s a crucial aspect of the job.
So, when a client experiences the loss of a spouse, parent, or other close family member, it can be a profoundly difficult time.
Tricia Mulcare, principal at Homrich Berg, says advisors should have a checklist when it comes to supporting
Embarking On Entrepreneurship: A Guide For The Newly Single Woman
Starting your own business as a newly single woman can be both empowering and challenging. It represents a fresh start and an opportunity to shape your professional journey on your terms. Here are key considerations and steps to guide you through this exciting venture.
Assess Your Skills and Interests
Begin by evaluating your current skills and interests. Reflect on what
Is Downsizing Or Moving Closer To Family The Right Move For Me?
One of the first questions clients grapple with as they find themselves on the path toward divorce or soon after hearing the devastating news that their spouse has a terminal illness is, “How is life going to change?” With insurance proceeds or a meaningful divorce settlement, day-to-day life from a financial perspective may not need to change dramatically. Without the
The Unexpected Retirement: Planning Beyond The Finances
When envisioning retirement, many of us picture a phase of life marked by relaxation, travel, or pursuing long-held passions. The financial aspects are often our sole focus and the reason so many continue working…worried that their savings balances are not high enough or wondering how they will be able to cover the escalating costs for healthcare…leaving many to feel like
Charting A New Course Professionally For The Suddenly Single Woman
Embarking on a solo journey after a significant life change such as divorce or becoming a widow often presents the unique opportunity to reassess your career path or reenter the workforce. As the tax season wraps up, many suddenly single women are inspired to redefine their personal and professional goals. For those newly considering employment, perhaps on an attorney’s advice,
After A Loss, Take Control Of Your Finances
After a spouse passes away or a couple divorces, the “suddenly single” spouse may find the prospect of handling finances complicated and daunting.
The financial industry is full of phrases and terminology that can be confusing. In many cases, someone else was in charge of making the financial decisions for the family. Now is the time to change