How to Financially Prepare for Having a Baby
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 6 November 2024
⏱️ 29 minutes
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| 0:00.0 | Okay, next up we have a question from Luis. |
| 0:10.2 | He says, my wife and I are expecting a baby in March of next year, which is so exciting. |
| 0:15.4 | Congratulations. |
| 0:15.6 | Congratulations. |
| 0:16.7 | She makes a significant part of our income and will be on maternity leave for about three months. |
| 0:21.4 | What is the best way for us to prepare financially? |
| 0:25.3 | And we do have a new resource about this. |
| 0:28.2 | First of all, I want you all to speak to it. |
| 0:29.9 | But as they do that or after they answer, head to moneyguide.com slash resources. |
| 0:34.5 | And make sure you grab our new child checklist resource because it has some categories |
| 0:39.8 | just for you to think through like cash flow, insurance, taxes, long-term planning, |
| 0:44.5 | things that maybe you should think about and have a conversation about as a couple as you're |
| 0:49.3 | thinking about having a new baby. So with that said, what do you guys have to say to Luis? Well, by the way, is this |
| 0:55.8 | something we should let Rebe even give some insight on? I mean, I'm talking about an expert in-house. |
| 1:01.0 | Maybe you should start this one off as you think about maybe being a few months away from having a baby show up. |
| 1:07.5 | They're trying to get me to tell everybody that I'm having a baby soon, which is probably good |
| 1:11.6 | because I'm going to disappear fairly soon. |
| 1:13.4 | Is that not public news? |
| 1:14.2 | Huh? |
| 1:14.5 | I don't think she said it on the shows. |
| 1:15.8 | I don't care. |
| 1:16.5 | I don't care, but I just haven't said anything about it yet. |
... |
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