Finances for First Time Fathers
WJBK - Being a first time parent can be nerve-wrecking. It can be even worse when you think about planning for your baby's future. Here is a financial checklist for new dads to make sure you're prepared for what's to come:
Plan for What You Have - Make sure you have the proper amount of life insurance, but also insure your child. Make sure you have your will and trust set up as well.
Start Saving for College - Start saving for your child's college fund, however be aware of the risks.
Review Your Paperwork - Make sure your beneficiaries on all accounts are up-to-date. Update deduction on your paycheck.