Discuss your parents' estate planning and financial needs with them - our estate planning center can help. Will your parents be able to take care of themselves? Do they have an estate plan in place? Knowing your parents’ situation will help you better assess your own financial needs.
It is possible that you could spend 30 years in retirement. That’s why it’s essential for you to continue contributing to your retirement plan. If possible, you may want to consider allocating additional funds to your retirement accounts in the form of “catch-up” contributions if you are age 50 or older.