Some Press Mentioning Danielle Miura, CFP®

 Those who don’t have enough savings for assisted living may have other options to help cover costs.

“In most cases, seniors who are moving into an assisted living facility will no longer need a home,” said Danielle Miura, a certified financial planner and founder of Spark Financials. “Downsizing by selling a home can help cover the cost of the senior living home.”

Medicaid can also provide financial help for qualified seniors. Low-income seniors over 62 may also qualify for subsidized housing by applying for the HUD Section 202 program. Income limits vary based on your state and county.

“This program allows low-income elderly to live independently while providing home-care assistance,” Miura said.

Danielle Miura, CFP and founder of Spark Financials, said a money tip she plans to introduce to her daughter is not to miss the important detail of evaluating your time and money. Miura said many people think they can become wealthy by only saving and investing their money. However, those who are too stingy may stop themselves from gaining new opportunities and even financially hurt themselves in the long run. Miura uses the example of how the COVID-19 pandemic turned many individuals into DIY renovators. They likely saved themselves money by doing certain things themselves, but did they evaluate how much time and energy they had to consume to complete the renovation? “Money and time are a game of push and pull,” said Miura. “Having a balance between the two is important.”

Rather than immediately saying yes to your child’s financial request, Danielle Miura, CFP and founder of Spark Financials, recommends parents have an honest conversation about their financial situation with their adult children. 

If a parent cannot afford to financially help an adult child, they may provide nonfinancial requests. Miura said these may include helping the child create a budget or connecting them with a financial professional.

“Healthy money lending is when there is clear communication about the expectations, there are respectful boundaries and the parents are not compromising their financial situation for the sake of their child,” Miura said.

Miura said parents should have an idea of when they want to gradually limit the amount of money or the frequency they give to children.

A certified financial planner with Wealth Tender and founder of Sparks Financials, Danielle Miura, had this to say about teaching teens about investing. “One of the easiest ways for high school students to gain financial education is TikTok.” However, she does caution, “It is key to find a well-educated TikTok influencer. Some of the most well-known and recognized designations within the financial industry are CFP®, CFA, or CPA.”