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Where can I get financial help for single dads?

Jan 15, 2012 by Kyle from Jacksonville, FL in  |  Flag
4 Answers  |  6 Followers
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David Kleinik Level 14

Kyle,

There may not be a place that specifically tune their business to single dads..... but there are plenty of resources out there for them because financial principles are the same whether your a single dad or a married dad. Look into books from people like David Bach or Dave Ramsey which teach its more IMPORTANT To get started investing/saving rather than the amount your investing at first because investing is a HABIT. Before or After find an advisor local to you that you feel you can build a 30+ year relationship with and start building your Future

Good Luck, David Kleinik

Comment   |  Flag   |  Jan 30, 2012 from Jacksonville, FL

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Hello Kyle,

I'm not sure that there are channels that focus specifically on financial help for single dads. The good news, however, is that sound financial principles can be applied to any family structure or situation. The fact is that financial advisors typically consider your entire financial picture before providing financial advice, which includes details about your family. This, in turn, allows the advisor to create a customized plan to address your needs and help you achieve your goals. I hope you find this answer to be helpful. If you have any additional questions, please feel free to reach out.

Best, Alex

1 Comment   |  Flag   |  Jan 16, 2012 from Staten Island, NY
David

I would recommend interviewing multiple FA’s much in the same way a FA will interview you. You may find there are many single parent FA's out there who are in a better position to fully understand your needs...something a married FA or software planning programs cannot often compensate for. You don't ask a proctologist to look at your foot just because they are a doctor...same principles apply to financial planning, real estate and law. Find a FA who can relate to you on your level to help ensure the relationship will have mutual interests that go beyond just the obvious.

Flag |  Jan 16, 2012 near Reading, PA

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Steve Glaeser Level 2

Hi Kyle:

Being a single Dad - or single parent, for that matter, is a very difficult job! Your question shows you are trying to do the best job you can!

The first thing you should do is get a comprehensive Financial Needs Analysis (FNA). (Our company offers one at no cost). This will identify your goals, assets and expenses that can be adjusted to meet your children's needs. We recommend only Term Life Insurance to provide maximum protection at the lowest cost. Of course, your FNA should provide targeted recommendations for your emergency fund, short-term savings, college savings and retirement savings.

Be sure to check out www.collegeboard.org and www.fastweb.com to get familiar with colleges and scholarship resources. Then check out www.salliemae.com and look at the UPromise rewards program that can save money for a child's college education from everyday purchases.

Depending upon your income level, your community might have a community health care center that will offer low cost health screenings and immunizations. Of course, take advantage of health fairs and all of your employer's resources.

Finally, be sure to check out other resources in your community. Some churches offer private schools and daycare based upon your income; I've even known some to offer full scholarships - including daycare!

Keep up the good work. Parenting is the toughest job you'll ever have - but it is also the most rewarding!

Yours,

Steve Glaeser

Comment   |  Flag   |  Aug 10, 2015 from Denver, CO

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Hey Kyle,

  I would recommend speaking to a few advisors about different investment options, and choosing the advisor that you are most comfortable working with.  Many advisors can offer you similar services, but you want to find an advisor that you can build trust with as well as feel comfortable working with now and in the future.  If you have any questions or concerns about your options feel free to reach out to me at anytime at my office number, 631-957-2317 and I will gladly answer any questions you may have.  Thank you Kyle for your time, and I hope to hear from you.  Have a great day.

Bill Koehler

Comment   |  Flag   |  Oct 21, 2015

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