Preparing Your Finances for Baby with Amy Brackett CFA

Did you know it will cost a middle-income couple slightly more than $245,000 to raise a child born in 2013 to the age of 18?! On this episode of “Yoga| Birth | Babies,” I speak with financial advisor, Amy Brackett. She and I discuss the daunting task of getting personal finances in order for the transition into parenthood. For anyone who is not already a financial advisor, this podcast will help demystify how much childhood really costs and how to best plan and prepare for it! In this episode: Some of the biggest mistakes new parents make in terms of their finances. Planning financial goals post baby: areas new parents should consider and focus on. How to pay for childcare: planning and budgeting for the early years before full days of school. Is there a rule of thumb for how much to save? The best way for a parent or guardian to go about saving for college. Planning retirement and college funds a the same time! How much to have in an emergency fund. Tips for estate planning and wills. About Amy:  Amy Brackett, CFA, is a Senior Vice President at The Solaris Group, a specialized wealth management and investment consulting firm which manages money for individuals, families and non-profit institutions. Amy is involved in all aspects of the client relationship including asset allocation and manager selection, and is a member of the Solaris Investment Committee. Amy serves on several Boards and Finance Committees including the Board of Bowery Babes, a group for moms living in downtown NYC.” She also writes articles on personal finance topics relating to families at Savvy-Parents.com. Amy lives in Manhattan with her husband and two children. You can contact Amy at [email protected] or 917-566-3811. Learn more about your ad choices. Visit megaphone.fm/adchoices