If you have a special needs child, you know that your retirement plan will need to include plans for their future. How do you create a great retirement while honoring and caring for your child with special needs who will most likely live beyond your years? That’s what we’ll be learning today.

In this episode, Matt from Haystack Financial Planning joins me to explore this question. His practice specializes in serving the disabled community and he offers years of experience in this area. Press play to learn what you can do to take care of your children while making the most of your retirement.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLANNING WHEN YOU HAVE A SPECIAL NEEDS CHILD

[2:30] Why Matt chose this path
[4:25] How to plan for your child’s needs
[7:40] How to determine the costs needed
[12:02] What other tools do these children have available to them?
[14:38] What is an ABLE account
[20:07] How to approach guardianship
[22:42] Resources to help

LISTENER QUESTIONS WITH NICHOLE

[24:42] How Nichole has been doing
[25:25] Maggie’s backdoor Roth conversion question
[29:38] On the order of withdrawals in retirement
[33:33] How much will I need to self-insure for long-term care?
[40:46] How to handle finances as a newly married couple
[45:55] My plans with Michael Easter

TODAY’S SMART SPRINT SEGMENT

[47:39] Limit your exposure to mainstream media related to the election

Resources Mentioned In This Episode

Haystack Financial Planning

ABLE 529 account

BOOK - The Special Needs Planning Guide by John Nadworny

BOOK - Retire Secure for Parents of a Child with a Disability by James Lange

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

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