When you have kids there are things you have to think about that you never would otherwise. Who will get you kids? Will they be protected financially if I die? Will I be a financial burden on my kids when I am older? What about college?
Our oldest is 11 years old and we finally have an official will in place. I know, I know –– stupid move on our part. But dying isn't something you want to think about at any age, let alone in your 20s.
Matt has life insurance from a policy his dad bought each of the kids when they were younger and then he has bought another policy through work. We have finally bought into one on those no exam life insurance policies through his work for me. (So yes I am finally worth something –– ha ha)
We have worked hard to put money back for retirement. Since I have been a freelancer and a SAHM for all but 2 of my years since graduating college, I never had much of a retirement account through work. So it is our responsibility to make sure I have some sort of retirement for when I hit those golden ages.
And college... I shudder the thought of college for 3 kids. Maybe I will let Sam have voice lessons in hopes she is the next American Idol.
Then add on things like cars, proms, weddings...
Do you have a will? Do you have some life insurance, no matter how small? What about retirement? Others? Start today and make sure you have plans in place for your kids. It is never to early.