How to Plan for your Child's Financial Future | Ep 1 скачать в хорошем качестве

How to Plan for your Child's Financial Future | Ep 1

This first episode of The Special Needs Children Podcast, hosted by Chitra Iyer, sets the foundation for families raising special needs children to understand and tackle the complex task of financial planning. Drawing from her personal journey as a mother of a child with Autism, Cerebral Palsy, and Epilepsy, as well as her professional role as a Financial Coach and CEO of MFA Capital Chitra offers practical, experience-backed guidance to parents of special needs kids. Raising a special needs child involves many layers of complexity, from therapy and medical care to schooling, emotional support, and lifelong caregiving. For most parents, the worry never ends—especially when it comes to ensuring financial security and stable long-term care. 🎯 Key Pointers Addressed in This Episode: How will your child access funds when you’re gone? Will your spouse, family, or caregivers know how to manage the savings? Will government benefits be enough? What if both parents are no longer around? Who will take over the care and decisions for your special needs child? These fears are completely valid but they don’t have to control your life. In this episode, Chitra offers 5 essential steps to help parents shift from fear to action and build a sustainable financial and caregiving plan. Top Insights for Special Needs Parents 1. Start Planning Early: Once your child is diagnosed, start understanding the financial and legal landscape. Early action gives you more options and time to build security. 2. Understand True Costs: List all current and future expenses—therapy, medication, education, lifestyle needs, transport, and potential institutional care. Include inflation and calculate how long the funds need to last often into the child’s 70s or 80s. 3. Create a Special Needs Trust: Work with professionals to set up a special needs trust that complies with local laws. This ensures your child can access financial support without losing government benefits. 4. Build a Support Network: No parent can do it alone. Engage siblings, extended family, close friends, therapists, and other trusted individuals. Every special needs family needs a “village” to provide care and continuity. 5. Secure Your Own Retirement: You must also plan for your own financial future. As your income shifts post-retirement, your investments and savings should support both your lifestyle and your child’s needs. A Compassionate Approach to Planning This episode is not just about numbers it’s about empowering special needs parents to take control of their child’s future, one step at a time. It emphasizes the importance of open communication, emotional readiness, and building a system that supports your child when you’re no longer there to do it yourself. Chitra encourages families to shift from “what ifs” to “what’s next,” with a clear roadmap for action. Her message is simple but powerful: you can’t control everything, but you can plan for it. Why You Should Listen This podcast is essential for any special needs caregiver, parent, or family member feeling overwhelmed by the unknown. Chitra speaks not just as an expert, but as someone who truly understands your journey. Her guidance is grounded in compassion, personal experience, and practical wisdom. Whether you're just starting out or already thinking about estate planning, trusts, or financial security, this episode will give you clarity and direction. 🔔 Subscribe to The Special Needs Children Podcast for expert-led, compassionate discussions on everything from financial planning to healthcare, education, and legal rights for special needs kids. New episodes every fortnight! Visit our website - https://www.myfinad.com/ Follow us on Facebook -   / myfinad   Follow us on Instagram -   / myfinad   Follow us on LinkedIn -  / myfinad   Visit HappyRich Investor blogs by Amar Pandit - https://www.happyrichinvestor.com/ Connect with Chitra on LinkedIn -   / chitraiyer   Email : teammfa@myfinad.in Mobile: +91 89280 06145