Families with special needs need a financial plan

Families with special needs need a financial plan ...

CFP chairman Thomas Rindahl

When you are contemplating for yourself, or a multi-generational plan, what do you mean by this? Special needs planning. Nearly 20% of Americans have a physical disability. However, these individuals may not be able to have a long, happy, dynamic, and fulfilled life. However, they may never be independent.

Thomas Rindahl

We are constantly confronted with worries and worries about our children's inadequate financial support, whether they be independent, or that their children will require constant care and supervision, but we are concerned about increasing debt burdens, duties to work later in life, and potentially never being able to retire.

It is not surprising that many special needs families have not used this technique. With the exception of shutting the kids around to school, therapies, and other services, who has the time, but this lack of planning is what will keep us shackled in fear.

Although the proverb says, "a thousand miles begins with a single step," we must as parents strive to meet our concerns for ourselves and our children, even if it is only addressed one at a time starting with the most pressing. Considering the many issues that are emerging when it comes to governmental help, we must assemble a team that is well versed in handling these issues from financial, legal, medical, and caregiving.

Families with special needs are well-rounded, comprehensive, and integrated. Life becomes easier when combined with a skill that is experienced in special needs. That's not to say the obstacles disappear, but we can take every step forward to deal with those challenges with caution.

Thomas Rindahl, author of The Chronicle of Psychology

Thomas Rindahl, PhD, MBA, CLU, ChFC, LUTCF, and BFATM, is a financial advisor in Tempe, AZ. Through extensive and holistic financial planning, he has helped his clients navigate the difficulties and challenges of life for over 20 years.

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