Smarter Wealth Wednesday - Save for Yourself First
Recently, I had a meaningful conversation with a parent in their 30s seeking advice on investing for their child's future. They were considering putting $300–500 per month into a custodial account for their child, yet only had $15,000 saved in their own retirement funds.
It's commendable to prioritize our children's financial well-being, but it's equally vital to secure our own futures. Before diving into custodial accounts, ensure you have a solid retirement plan in place. By safeguarding your own financial stability, you not only protect yourself but also lighten the burden on your children down the road. Plan wisely for tomorrow, so you can enjoy peace of mind today.