EPISODE 54: Financial Planning for Your Special Needs Child
With Nick Wallace
INTRO:
Raising a child with special needs can be one of life’s most fulfilling experiences, but it can also be one of the most costly. According to Autism Speaks, raising a child with autism costs on average $60,000 a year, but let’s face it…it costs a lot more than that for a lot of us depending on the severity and insurance coverage. It can be scary looking at the financial numbers, and even scarier when you wonder what would happen if something happened to you. Long-term financial planning is daunting, but no matter your child’s age, it’s important for you to start as early as possible.
Today, I’m speaking with Nick Wallace, a financial planner that focuses on planning for families in the special-needs community. His passion for this type of planning is inspired by the feeling of relief that he experienced after working through a game plan for his brother’s future, who has special needs. Nick is going to share some insights from the daily conversations that he has with families and planning for their loved ones.
CONCLUSION:
The process for financial planning for a special-needs loved one takes time, but you can start by laying out a timeline for what needs to be done.
Plan early, and revise as needed. It’s not easy or straightforward, and what makes sense for one family may not make sense for another. Get help. It’s doable.
Thanks so much for being a part of My Autism Tribe, and I’ll see ya next week!
ADDITIONAL INFORMATION
TOOLS THAT ARE OFTEN USED:
QUESTIONS TO ASK YOUR FINANCIAL PLANNER:
NICK WALLACE CONTACT INFORMATION:
Facebook - @nickwallacefinance
Website – www.nickwallace.nm.com
Email – [email protected]
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