By Quentin Fottrell March 29, How to help your adult children manage their finances. The question:. My two sons are in their 30s. They save well and spend within their means. Both want to buy a home, one in Boston the other in San Francisco. How should I advise them or help them balance their portfolio to conserve their investing achievements?
The advice:. You can best help your sons by maintaining a constant dialogue with them. A healthy relationship with people in your life will help you have a healthy relationship with money.
Plus, your sons should keep you in the loop about their financial decisions. The perfect portfolio only exists in hindsight and every retiree is going to face a unique market, spending, tax and withdrawal circumstances. Therefore, the best and simplest way to hedge the sequence of return risk is to have a flexible financial plan that allows for the occasional course correction.
Maintaining a healthy perspective and detachment from your investments allows for the flexibility to course correct if necessary. Lastly, help them think outside the box with real estate.
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