Babies are adorable but pricey. Financial planning can help new parents prepare for the astronomical expenses ahead. The average middle-income family spends $12,000 to $14,000 on child-related expenses each year, according to the U.S. Department of Agriculture. For newborns, those expenses are two to three times higher in their first year of life. Alloy Wealth Management can help new and expectant parents understand their current financial situation and advise them on the steps they need to take to financially prepare for parenthood.
When you meet with one of our fiduciary financial advisors, they’ll do a full assessment of your current finances, discuss your goals, and help you create a savings plan to reduce unnecessary spending and free up money for upcoming child-related expenses. We will help you on your journey with a complimentary written financial plan that will address income planning, advanced tax planning, Roth conversions, market volatility, inflation, and insurance. We’ll discuss the importance of an emergency fund and answer any questions you have regarding the best approach for college savings.
At Alloy Wealth Management, we partner with clients in their financial futures. We meet with them regularly to help update estate and retirement plans, and investment portfolios as the family and goals change over time. Call 800-689-3935 to discuss financial planning with one of our experts.