A Gift for Mother's Day

To some, finding the right gift for Mother’s Day can be tough.

This year, why not try something different, something that will help her secure her financial future?

No, you don’t have to give her cold, hard cash. Instead, talk with your mother about her specific financial goals and help her develop a plan to reach them. It’s a gift that keeps on giving.

Like most women, your mom probably has special investment needs. Maybe she lives alone, doesn’t have an extended employment history, or maybe she’s simply not aware of the basics of finance. Whatever her situation, there’s no better time than now to help her plan financial future.

Talk with your mom about:

• Her current financial situation. Money can be a taboo subject in some families, making discussion about the state of your mom’s finances a little difficult. But, you both have to understand what’s happening today in order to set the right goals and make the right plans for tomorrow.
• Future retirement income. Does your mom have a pension, 401(k) plan, annuities or other forms of investments that will provide income during her retirement?
• Life insurance. How much life insurance does your mom have, if any, and in what form − term or permanent?
• Estate planning. What are your mom’s thoughts on wealth distribution? This can help you guide her in matching her financial goals to the appropriate outcomes.

Giving your mother the opportunity to think about and discuss her financial future is just the first step. Follow up by introducing her to a trusted investment professional, if she doesn’t already have one. By starting the process to secure your mom’s financial future, you're giving a gift that’s as good as gold.

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