Financial Family for Growing Families

A growing family is a busy family, with parents who are juggling schedules and stretched for time. Between the kids’ activities like sports, music, hobbies and play dates, there’s also the building of careers, paying of bills, managing the house, and often not enough time to focus on the present, not to mention the future. At PDS Planning, we help growing families prioritize their wants and needs, with an eye for establishing long term goals, as well.

How Much Do We Need to Save for Our Children’s Education

We can help you estimate the cost of an education or training beyond high school, and identify how much you need to save over time. In many cases, establishing a 529 college savings account will make sense and eliminate the impact of taxes on growth and qualified withdrawals. Grandparents are permitted to contribute to these accounts or establish an account of their own.

How Do We Balance Financial Goals, Like Paying Debt, Providing for Our Kids & Planning for Retirement?

At PDS Planning, we know what it’s like to balance the current needs of a growing family with your long term financial goals. We can help you understand how the decisions you make today will have an impact on your future, and help you organize and prioritize your decisions, so you can feel comfortable with the results.

Can We Afford to Buy a Home?

The impact on your current cash flow – and how a larger monthly payment could affect other goals – is an important consideration here. By analyzing your cash flow, creating a summary of your income and expenses, and reviewing mortgage options, we can help you determine what’s right for you.

Will Our Family Have Enough If One of Us Dies or Cannot Work?

Stability – both financial and emotional – is critical for a growing family. Life and disability insurance can help protect against the unthinkable, and provide a cushion when you need it the most. At PDS Planning, we will assess the insurance need that will accomplish your family goals in the absence of a wage earner, then determine the appropriate type and amounts of coverage.

How Much Should We Save for Retirement?

Retirement means different things to different people. The amount you need to save depends on your desired lifestyle in retirement, current retirement assets, anticipated future growth rate and inflation. By learning about your goals, expectations and time frame, we can help you determine if you are on track and make planning for retirement more predictable and more comfortable.

For more information regarding financial planning for your growing family, contact PDS Planning today.