Mike Falco, Financial Advisor & President of Falco Wealth Management, appears on Unlock Your Wealth Radio with host and personal finance expert Heather Wagenhals to discuss why baby boomers are experiencing financial setbacks. Tune in to the Libsyn platform this Friday, August 21st at 9AM PST to find out the day many families are starting to dread: the day their adult children move back home. There’s a term for these adult children who are moving back in with their parents, they’re called Boomerang Kids.
That’s right. A big threat to your financial future may be living in your basement, your adult kids!
Financial professional Mike Falco from Falco Wealth Management joins Heather Wagenhals to explain ways adult kids are threatening their parents’ retirement and how you can stay on your financial path. After all, helping your adult children could actually be hurting your retirement.
More than one-third of baby boomers are financially supporting their children.
A recent study from the research firm of Hearts & Wallets revealed parents 65 and older who have financially independent children are more than twice as likely to be retired than those who are financially supporting their children. Those who are helping children are also more anxious about their financial situations and have lower risk tolerance.
Tune in this interview on Friday, August, 21st at 9AM PST on the Libsyn platform as Mike explains a few steps parents should take to ensure financial harmony within the family.