Highlights of today's show:
- Life and Money series
- How do your finances change when you become an empty nester?
- How to re-evaluate your goals
- Is downsizing right for you?
- How to make sure that you stay an empty nester
The "Life and Money" series continues by discussing your finances when you become an empty nester. The definition of an empty nester is a parent whose children have grown and moved away from home. Being an empty nester is an interesting life stage as you are shifting from raising and spending money on your child, to having more time and money available for yourself.
Today we discuss in detail three things you need to decide when you are an empty nester
- What are your goals for the next 5-10 years
- When/if you should downsize
- How much you are going to help your child when they are out of the house
In addition we also discuss how to stay an empty nester. With 3 out of 10 children moving back home with their parents after college, it's important to discuss that option with your child before it actually occurs. That way both sides will know what is expected of each during that time and you can lay out some ground rules on how long the arrangement will last.
Finally, I have a special announcement for all of you podcast listeners. My pal and frequent guest on the show Steve Stewart and I are doing a Google Plus hangout on Tuesday September 4th at 9pm EST. The topic will be on debt avoidance and the power of debt freedom. We will also be answering your questions on the topic. We hope to see you there.
I also have special news for those listeners who have an iPhone. The JW's Financial Coaching app is now available to download. The app allows you to choose a lesson, view its show notes and listen to the show, all right from your iPhone without having to browse the web.
You can subscribe to future podcasts through Feedburner, Stitcher SmartRadio, or iTunes. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.
If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. There are two ways to get in touch with me: 1.) Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air. 2.) Simply fill out the form on the contact page. Please fill out your name, email, and your question/comment/suggestion and we will read it on air.
You can find prior editions of the podcast at the podcast archive page.