Originally answered Sep 21, 2019

Image for post
Image for post
  1. A current will, including designated guardians.
  2. Life insurance policies with death benefits that when invested will yield income sufficient to replace the lost income.
  3. Sufficient income to cover the costs of day care or the lower income if one parent decides to work part time or stay home to raise the child.
  4. Sufficient savings to deal with emergencies and unexpected expenses.
  5. Savings and investments for the increased costs of raising a child, buying a larger car, or purchasing a larger home in the future.
  6. Providing for the child’s education using:

See also What are some financial tips that everyone should know?

Knowledge Management Author and Speaker, Founder of SIKM Leaders Community, Community Evangelist, Knowledge Manager https://sites.google.com/site/stangarfield/

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store