Family Planning

From getting married to your special someone, having your first child, and growing your family, to the moment your nest empties as your children go to college. Family planning is about setting goals to make sure every member of your family is on their own journey and on track to achieve their own financial goals.

The Basics of Family Planning

Financially planning for your family is crucial as you think about your future and how your goals align with your spending habits, income, investments, and assets. Here are a couple of the milestones you should include in your family’s financial plan.

Marriage 

Now that your finances will be legally combined with your partner’s, it’s critical that you honestly disclose financial details and establish mutual goals. Being on the same page as your spouse can avoid plenty of financial headaches down the road. When planning financially for marriage, be sure to establish a joint budget, talk through how expenses will be divided, establish a joint emergency fund, and perhaps even save for a home together.

A Baby

For at least the next 18 years, you’ll be providing financially for your child. Starting a family is one of the most important times to sit down and plan for your financial future. For new parents, your old budget more than likely doesn’t include the many additional expenses that come with a baby. In order to spend and save responsibly, a family budget as part of your financial plan is imperative.

College

Paying for college can be a big challenge for students and their families. The New York Times reported that parents are taking on more debt than ever to afford their children’s education. Federal loan program limits impede students from borrowing the entirety of their university’s cost, so many parents end up going deeper into debt to pay tuition fees, which ends up derailing their own long term financial goals and even their retirement! That’s why it’s important to start financially planning for college as early as you can.

Empty Nesters

You’ve raised your children to the point where they are heading out into the world to chart their own lives!  Transitioning to being an empty nester comes with a whirlwind of emotions. Consider how your budget, emergency fund, and financial goals will shift now that you’re no longer financially responsible for your children. This can be an exciting time to reevaluate your expenses and hone in planning for retirement.

Your Guide to College Planning :

College planning is one of the most common financial concerns among Americans. While the definition of it is simply how you’ll plan to pay for college, there is plenty more that goes into it.

What Type Of Family Event Are You Planning For?

Learn how an advisor can help navigate this exciting moment!

Do We Need Family-Focused Financial Planning?

A qualified wealth planner focused on family financial planning, will work with you to ensure your financial decisions are active steps towards your long-term goals. A holistic financial plan designed for each of life’s important moments means you can spend time enjoying them – instead of worrying about achieving your financial dreams. A great financial plan enables you to see your growing or evolving family as just one aspect of your entire financial life, rather than the end-all-be-all of your finances.

A Wealth Planner With Expertise in Family Planning

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A Wealth Planner With Expertise in Family Planning

The top 5% of advisors in the nation. 

Trustworthy

Experienced

Nationwide

| Advisors Nationwide |

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