Life situation Single Parent with children under 18 What are your specialized financial activities?
A)Consider home purchase.
B)Obtain adequate amounts of health, life, and disability insurances.
C)Consider tax-deferred contributions to retirement fund.
D)Consolidate financial assets
E)Consider income splitting

Question

Quizplus · Accepted Answer

As a single parent with children under 18, obtaining adequate amounts of health, life, and disability insurances is crucial to provide financial security for both yourself and your children in case of unexpected events. This includes health insurance to cover medical expenses, life insurance to provide for your children's financial needs in case of your untimely death, and disability insurance to replace your income if you are unable to work due to a disability. While other options such as home purchase, retirement contributions, and income splitting may also be important, they are not as urgent as having adequate insurance coverage. Consolidating financial assets may depend on your specific financial situation and goals.

Life Situation Single Parent with Children Under 18 What Are