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Parents love offering unsolicited advice to their kids. That truism has long persisted, spanning generations and cultures, often to the chagrin of their children. But before parents offer tried-and-true nuggets of wisdom—especially when it comes to financial planning—they should take a moment to make sure they’ve been following that guidance themselves.

Financial circumstances constantly shift and require optimizations, and it’s always important to take a moment for self-reflection. Studies suggest that, if the consistent increases in life expectancy persist, centenarians may be common by 2100. The reliable pensions of the past have largely vanished, replaced by a myriad of employer-sponsored retirement plans. Additionally, voluntary benefit insurance plans offered through your employer can provide benefits and support when unexpected events threaten your livelihood and savings.

This added complexity has increased the importance of financial advisors, who help their clients set financial goals and select the right mix of employer-sponsored products (in addition to any other investment options) to help make those goals reality.

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Passing on advice

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Click the link below for the article:

https://qz.com/1333090/parents-should-follow-their-smart-financial-advice-not-just-give-it-to-their-kids/?utm_source=pocket&utm_medium=firefox_placement

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