Things to Consider Even if You Don’t Have an Unexpected Dependent

• An ounce of prevention is worth a pound of cure. “If you see that your daughter is going through a divorce, or that your parent may need more care, start considering that in your retirement planning now,” says David Raymond of PNC Investments. He also points out that any retirement plan worth its salt needs to be monitored and re-evaluated on an ongoing basis to keep up with your changing needs.

• Americans are living longer and requiring more extensive (and expensive) health care. Look into getting yourself long-term care insurance early, to help ease the burden of long-term health care both on yourself and, potentially, your children.

• Keep the lines of communication open. As your parents age, start asking questions about their financial state, their medical condition and their plans for the future. They may resist the discussion at first, but keep at it. These subjects are important if you are to help them see to their needs in the future. Similarly, if your children are going through a rough patch, don’t hide your head in the sand. Talk to them and see if there is a way to help them, before they get in over their heads, financially or otherwise.

• There’s no harm in seeking professional help. Raymond also points out that seeking the advice of a retirement planning expert can often get you closer to your dream retirement than you might acting alone. Though hiring a professional does cost money, an expert’s knowledge can often save dollars in the long run. You can find online information about locating a financial adviser who is right for you at How Can You Find Help?