Retirement Planning Guide for Families Raising a Child With A Disability

Retirement planning can be a challenge under any circumstance, but it’s especially daunting for families raising a child with a disability.¹ 

Raising children is expensive. According to the U.S. Department of Agriculture, parents will spend about $233,000 ($284,000, if you factor in inflation) between birth and age 17. These costs include housing, food, child care, and education.

By some estimates, costs can quadruple for children with special needs, depending on the nature and severity of the condition. A special needs financial planner can provide expert knowledge and help you build a detailed retirement plan.

This guide can help you plan for those costs while you are alive and after your death.

Sources:

¹ https://www.moneygeek.com/financial-planning/resources-for-parents-of-children-with-special-needs/

² https://www.legalshield.com/blog/guardianship/different-types-guardianship/

³ http://www.supporteddecisionmaking.org/sites/default/files/Supported-Decision-Making-Teams-Setting-the-Wheels-in-Motion.pdf

⁴ http://www.supporteddecisionmaking.org/states

⁵ https://www.specialneedsalliance.org/the-voice/your-special-needs-trust-snt-defined-2/

⁶https://www.ablenrc.org/what-is-able/what-are-able-acounts/

Jeff Vistica, CFP®, ChSNC®, AIF®

Jeff is the co-founding partner of Valiant Partners, a registered investment advisory firm located in Carlsbad, Calif. Valiant Partners devotes its practice exclusively to serving the needs of parents with special needs children.