Key challenges for special-needs families planning for retirement include projecting cash flow needs, making decisions about investment allocations, and planning for family member care. These families must take a more conservative approach for the allocation of their retirement portfolio, incorporating a higher level of cash. The cash will meet any immediate needs if there is a sudden decline in the market. Additionally, it is worth considering a Special Needs Trust or an ABLE account, which allows for tax-advantaged savings.
See Mark Miller, Special-Needs Families Face Complex Retirement Planning, Financial Advisor, November 3, 2016.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
