6 pieces of advice to inform everyday financial questions — and some curveballs

Financial advisors must guide clients through life's routine financial questions, like determining how to handle marital finances. And these days, there's the added stress of a volatile economy that has many investors on edge.

In our Ask an Advisor series, real investors have posed questions about those issues, as well as many others — when to splurge on a retirement property on the beach or how to plan for the financial future of a child with disabilities.

As you know, there is no cut-and-dried right answer in most financial planning cases, so we turned to financial advisors for their opinions. Their answers, below, are illuminating and highlight a wide range of approaches.

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Tying the financial knot

As Frank Sinatra famously sang: "Love and marriage go together like a horse and carriage." But in addition to that sentimental aspect, there are financial considerations to be made before or after tying the knot.

For some couples this means combining everything in joint accounts, while others pool some resources but maintain separate accounts for certain assets.

Four advisors described for Financial Planning their perspective on some of the benefits of joining forces as well as some strategies for couples to consider.  

Read more: Ask an advisor: We just got married. Should we combine our finances?
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Having the best of both 401(k) worlds

Many people on first entering the workforce think time is on their side, and thoughts of saving for retirement are far from their mind.

"I'll start saving when I'm older" is a common refrain, but it doesn't take long to learn you can never be too young to put money away for your future.

The question is, where? Given a choice between two 401(k) options — traditional and Roth — we got the perspectives of five financial planning experts on what to do. 

Read more: Ask an advisor: Should I get a traditional or Roth 401(k)? My company offers both
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How to plan long term for a disabled child

Calculating how much you need to retire is a complicated task, but is even more challenging when a child requiring long-term health care is also dependent on your savings.

Add to that a market downturn, and there is temptation to change investment and retirement savings strategies.

Here are the thoughts of five industry professionals on why it's important to resist knee-jerk reactions and how to approach the prevailing economic climate. 

Read more: Ask an advisor: Should I cash out my 401(k) to provide for my autistic son?
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Deciding the right time to access Social Security

Retirement dreams come in many different shapes and sizes, but they all have one thing in common — living long enough to enjoy them.

If severe illness strikes, difficult choices must be made, particularly about when to access Social Security benefits, where the prevailing wisdom is to start claiming as late as possible to gain the most.

Three advisors share their insights on what needs to be considered when making this decision while dealing with serious health care issues.

Read more: Ask an advisor: I have terminal cancer. What does that mean for my Social Security?
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Caring for an elderly family member

Life expectancy in the U.S. has been trending upward for several decades despite a small dip in the past two years.

As their parents are living longer lives, sandwich generation individuals are keen to take advantage of Medicare benefits to help manage their health care needs.

What sustenance can the country's federal health insurance provide? Four industry professionals weigh in. 

Read more: Ask an advisor: Will Medicare help care for my 97-year-old mother?
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Investing in a retirement property abroad

A sun-drenched villa in the Tuscan hills or on the Riviera sounds like a wonderful location for a trip overseas — and for some, even a great place to retire.

But turning a fanciful idea into a viable reality requires careful thought, given the potential risks involved in investing retirement funds in property abroad.

Here are some important observations from three advisors on what you need to consider before making a far-reaching decision. 

Read more: Ask an advisor: Will buying real estate in Europe improve my retirement?
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