This post is brought to you in partnership with Wealthfront
Planning for your children’s future
Jude has been so much fun to be around lately. He loves to choose his own clothes, and try on outfits and accessories at every store we go to. When he’s satisfied with an outfit, he checks himself out in the mirror and walks as if he was on the runway. Full of personality, this one!
I don’t know what the future holds right now but if he follows his dreams, he’ll be a fashion designer or a runway model. Mom better start saving! Ever since I became a mom, I’ve felt like time goes by a hundred times faster. Each year that goes by, each birthday that my boys celebrate, I find myself in utter shock. How did that just happen? Didn’t I give birth just yesterday?
This year, it hit me. I need to start planning for the boys’ future, more precisely saving for Jude’s college fund. I’m not a planning-type of person. I’m more of a “let’s wing it” type of mom. It just seems so overwhelming to me to come up with a plan. How much do I need to put aside each month? Do I need to start saving now? Jude is only 3. What are my options? Is it even realistic to start a college fund with our current financial situation?
I’ve decided to be smart about this and I’m using a useful automatic financial planning service called Wealthfront which has answered all the questions I’ve had and more. I’ve been using it for two weeks and I’m impressed with how intuitive their website is. In setting up my account, and deciding how to invest, I got help every step of the way. I grew up in France so our financial system is a bit different and having all the information I needed in one place made a world of a difference.
It’s really never too early to start thinking about your children’s future. The earlier you start to plan, the easier and more effective it will be. Sometimes, all I need is a little nudge in the right direction to get started, and thanks to Wealthfront, I’m starting the year on a good note with a plan for Jude’s finances. If like me you need a little help to get started, check them out. I feel like a real adult all of a sudden! Stay tuned for a second post soon where I’ll go into more details on how I’ve been using Wealthfront to save for Jude’s future.