Financial moves to make with newborns

A few things I learned after the early stages of fatherhood:

· This is way harder than starting a business. It’s also much more fulfilling.

· Children are the best productivity and time management hack that exists.

· I need 7 hours of sleep. “Powering through” like I used to in my 20s and early 30s doesn’t work so well anymore.

A few things I’ve done financially since my daughter was born:

· Laddered another life insurance policy

· Updated estate & guardianship docs

· Opened a 529

· Opened an UTMA account

The 529 is for future education expenses. The UTMA account is primarily (hopefully) to teach her about savings, investing, and the markets. Eventually, the funds will be used for discretionary expenses like helping buy her first car. I’ve done this with my nephew since he was very little. He’s had input on every investment we’ve made in his account. He’s 18 now. Yes, we own some IBIT, but I haven’t let him invest it all in crypto!

Preserve Private Wealth is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specic securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.