Are your kids starting new jobs? Graduating college soon? Getting promoted? Do they listen to you? Do you wish there was a mutual third party to help set them up for financial success? This video is part 2 of a 3 part series called “Sandwich Money”, where Sophie and Mike discuss financial advice for adults who are sandwiched between raising children and caring for aging parents.

Part 1: Financial Advice for Young Parents

Part 2: Financial Advice for Parents of Adult Children

Part 3: Financial Advice for Adults with Aging Parents

Topics in this episode include

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• Financial milestones for young adults
  
• What should people consider with their first job offer?
  
• Story: max your match, not max your contribution
  
• Getting an unbiased third party for financial advice
  
• Uncomfortable family conversations about money
  
• Quality time instead of financial logistics and numbers
  
• How do you introduce your young adult to a financial advisor?
  
• What changes financially when you become an empty nester?
  
• If you have multiple kids, who do you want to name as the executor?
  
• A health scare that ended up positively
  
• Cautionary tale: Have written agreements
  
• Approaching the Estate conversation with your adult children
  
• Ideal sequence of financial conversations for your adult children with an advisory team
  
• What happens if you can’t think of someone to be the executor of your will?
  
• What’s the scope of a corporate trust?
  
• When do lawyers get involved?
  

Connect with Sophie

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• LinkedIn: Sophie Howell
  
• Cook Wealth Bio: Sophie Howell
  

Connect with Mike

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• LinkedIn: Michael Holloway, CFP®
  
• Cook Wealth Bio: Mike Holloway