Financial planning is essential when having a new addition to your family, considering education expenses, tax implications and the insurance needs of your family. We can help you address some questions, while you prepare to have child:
Have you reviewed your health insurance to check the availability of maternity benefits?
Have you reviewed your life insurance to cover not only the cost of living for future for your spouse and child but also cover her/his education as well as marriage cost?
Have you thought of making adjustments in your day to day budgeting with increasing expenses and possible income changes, if your spouse takes a career break?
Have you analyzed various savings choices for short-term expenses and long-term goals including the education and marriage of your child?
With a new child’s expenses it can be tempting to cut back on saving for retirement.
Have you discussed ways to resolve competing needs to save for retirement and education?