Beyond the picket fence
Financial challenges of the modern American family
Leave it to Beaver has given way to Modern Family and Keeping up with the Kardashians. Blended families, same-sex couples, and families with adult children or aging parents living in the home are on the rise. This issue of UBS Investor Watch explores this phenomenon.
We found out that there are nearly as many “modern” families represented among the wealthy as there are “traditional” families, with a mom, dad and two kids. These modern families have their own specific set of financial challenges:
- Blended families struggle with the costs of raising children from multiple marriages and worry about being fair with inheritance.
- One in four same-sex couples worries about the inheritance they’ll receive from parents who may not embrace their relationships.
- Couples who support adult children or aging parents worry about their own retirement.
- Older first-time parents feel they get less support from family and friends in raising their children.
Where does your family fit in?
You may share these concerns. Be sure that you’re getting advice that takes into account what your family needs. Connect with your UBS Financial Advisor or find a UBS Financial Advisor.
Previous UBS Investor Watch:
When is enough...enough?
Why the wealthy can't get off the treadmill
“When is enough…enough?” finds that millionaires enjoy a great deal of happiness and appreciation for what they’ve earned. But most feel compelled to strive for more, spurred on by ambition, the desire to protect their families’ lifestyle and anxiety about losing what they’ve worked so hard to build. As a result, many millionaires say they feel stuck on a treadmill without knowing how much wealth would make them truly satisfied enough to get off.
The study also found that millionaires regret the time they've missed with family. If they could slow down or get off the treadmill, they would reconnect with family, pursue their passions and work on personal—not financial goals. If they had no financial constraints, they would donate more to charity.
You may share many of these very same dreams or concerns. To understand how the right advice can help you make sense of it all within your larger financial picture, connect with your UBS Financial Advisor or find a UBS Financial Advisor.
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