Feathering the empty nest: FIAs can help
January 28, 2016 by Peggy Bresnick
Once the kids are away, the parents will play. It turns out that when the last of their children leave the nest, parents are spending substantial amounts of money, but not necessarily on preparing for retirement.
Many couples find they have more disposable income when they become empty nesters. According to the U.S. Department of Agriculture, the average cost of raising a child born in 1998 in the Northeast, for instance, is $22,263 annually for middle-income families, or a total of $400,734 over an 18-year span. Once that child is out of the house, a significant amount of income is freed up for other purposes, although many parents continue to help their children financially after college graduation by forking out money for graduate school tuition or health insurance or helping with living expenses. Click HERE to read more…
