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4 out of 5 households no longer fit the former norm, mom, dad and their 2.2 kids mold.
Time to throw out the one-size-fits-all financial planning.
Get advice tailored to your family’s specific needs.
Final note: the struggle for full equality for LGBTQ is ongoing. U.S. Bank is here to help you sort through your financial matters.
Blended families represent the largest number of today’s modern families.
On average, 65% of remarried couples have children from previous relationships.
Communication is key. Take time to plan and talk about financial responsibilities.
One-third of American households are headed by single adults.
Singles need to save more to ensure they stay on track for retirement. You may need 80% of what married couples have, not 50%.
First- and second-generation immigrants now represent about one-fourth of the U.S. population.
Biggest challenge: balancing education planning with retirement planning.
Sandwiched between children and aging parents, boomers struggle to balance multiple demands without jeopardizing their retirement.
Clarify expectations: discuss how adult family members pool resources (income, skills, energy, and time) to help maintain balance.
Make possible happen.
Realsteps, our goals-based financial planning process, can help all families make sense of their finances. Seeking assistance from an experienced U.S. Bancorp financial professional is an important first step at planning for a successful financial future.
All statistical information included was obtained from the U.S. Bank Realsteps research report, Financial Insights for Modern Families, June 2016.
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