As we advance into a modern world, traditional values fade while new values are established. In an article recently written by Amy Fontinelle, a personal finance writer for MassMutual, the concept of a new, non-traditional family structure is explored. This well written piece analyzes changing family dynamics as it relates to financial planning. Some of the evolving family structures include same-sex couples (LGBT families), blended families, multi-generational families, and single-parent families.
While some foundational principles of financial planning apply to most, non-traditional families have a host of customizable options to choose from. Working with a financial advisor that is proficient in these strategies can mean a world of difference in creating a sound, long-term financial plan.
Fontinelle asked Pharos Wealth Management for a professional opinion, which we gave - we were happy to oblige! Click here to check out what we said and to learn more about the interesting perspective of a changing family archetype.
*To view the article as a PDF: Financial Planning in Modern Family Structures.