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Planning for your future with a CFP® Professional

February 11, 2019

This post is sponsored by CFP Board, but as always, the opinions below are 100% my own.

When you start off in the workforce, there are many options as far as different ways to start saving for your retirement–and these are often overlooked. There is so much to think about when you start planning for retirement. The earlier you start, the better.

Then life comes along, and you start thinking about buying a house or starting a family–and the costs that comes along with those milestones. Then, your original goals–like retirement–might get put on the backburner.

For a middle class family to raise a child born in 2015 through the age of 17, the average cost is currently $233,610, according to the Department of Agriculture. How could someone so small, cost so much? Food, housing, and childcare are only a few of the top costs.

Before I had children I didn’t realize the cost of daycare. When I had two kids in daycare full time it cost a whopping $1400 a month. $1400 a month to spend 40 hours a week away from my kids… It seems backwards, right?

Creating a budget and simply increasing mindfulness regarding how you’re managing your finances is the first step towards building a financial plan. We have started the process by sitting down with a CERTIFIED FINANCIAL PLANNER professional to get us on track.

What is a CFP® professional? A CFP® pro has gone through extensive training so that he/she is fully prepared to manage all of your financial needs. CFP® professionals are held to the highest ethical standards and understand the complexities of the ever-changing financial situations that may apply to each unique person. They’re able to make recommendations that are best for YOU.

Beware of people purporting to be “financial planners” as there are many that have not been certified. To be a CFP® professional you need to go through extensive training and adhere to rigorous requirements.

 

To become a CFP® professional someone must –

–       Complete 4,000 or more hours of financial planning experience.

–       Pass the comprehensive CFP® Certification Exam, which will test their ability to apply financial planning knowledge to all different types of real-life situations. A CERTIFIED FINANCIAL PLANNER™ professional has proven that they understand real-life scenarios and how they affect your investments, retirement funds, college savings and/or estate planning.

–       They are required to put their clients’ interests above their own when providing financial planning services.

–       Be trained in 72 separate financial topic areas ranging from investment planning to estate planning.

 

For couples that are working full-time and starting to consider family planning, childcare costs are one of the top financial responsibilities to think about. Consulting with a CERTIFIED FINANCIAL PLANNER™ professional should be your first step to setting your family up for financial success.

Having two young kiddos, you never know what healthcare expenses will come your way–especially during cold & flu season. A CFP® professional will help you come up with a plan that allows you to thoughtfully budget for medical expenses–planned or unexpected. This is one of the biggest pros for us, because health insurance is something you can’t go without, and medical expenses can often come as a shock.

I am glad that we have chosen to hire a CFP® pro to help us not only manage our money today, but to help us build a plan for tomorrow.

 

Find out how a CFP® pro can help you at letsmakeaplan.org

 

Xo,

Ashley

  • Reply
    Heidi Roberts
    February 11, 2019 at 5:07 pm

    It always gives you peace of mind when you trust a professional.

  • Reply
    Georgia
    February 12, 2019 at 4:11 am

    Lovely post and I really enjoyed the photos as well!

  • Reply
    Jordan Campbell
    February 12, 2019 at 4:50 am

    This is really a great idea, thanks for sharing. Where I live, daycare costs $1700 a month for ONE child. It’s insanity.

  • Reply
    Norafiqin
    February 12, 2019 at 9:05 am

    People say that having kids is expensive, no matter where in the world you live in and I totally agree. This, hopefully, could help in alleviating the cost, or at least manage it better.

  • Reply
    Candace Moczarski
    February 12, 2019 at 11:10 am

    yes i was working with a financial company and have learned so much to save for our family

  • Reply
    Joanna
    February 12, 2019 at 12:30 pm

    I actually didn’t know about the existence of these financial professionals that can help with budgeting and create plans for your family. It’s always good to have an emergency fund when something happens, especially when it’s medical.

  • Reply
    Yeah Lifestyle
    February 12, 2019 at 12:44 pm

    A CFP sounds like a great way to help you learn to manage your money. It is crazy that daycare is so expensive, isn’t it?

  • Reply
    Lisa
    February 12, 2019 at 12:56 pm

    This sounds so important for families. I never heard of a CFP professional till now, very useful post!

  • Reply
    Elizabeth Weitz
    February 12, 2019 at 1:17 pm

    Ahhh, working with a financial company is such a good idea. It will give you such peace of mind!

  • Reply
    Sara Welch
    February 12, 2019 at 1:22 pm

    I think our family could benefit from the services a CPF offers! Thank you for sharing this information!

  • Reply
    John Mulindi
    February 12, 2019 at 1:30 pm

    Yes, professionals can help you plan well for the future. Thanks for sharing this important information.

  • Reply
    Catherine
    February 12, 2019 at 1:49 pm

    It’s never too late to start saving and it is so, so important especially when you have a family. Great post!

  • Reply
    Jasemine Denise
    February 12, 2019 at 6:07 pm

    Wow, this is incredible. I didn’t even know that this was a profession someone could get into. Like a professional budget expert!

  • Reply
    Erin Haugerud
    February 12, 2019 at 7:01 pm

    This is what we need! I feel like we’re constantly swimming up stream!

  • Reply
    Alexandra Cook
    February 12, 2019 at 8:37 pm

    This is my first time hearing about CFP Professionals. This sounds like a big help for a family when it comes to financial matter

  • Reply
    Preet
    February 12, 2019 at 8:38 pm

    What a great professionals from CFP that can help us manage our money. Sounds very useful especially nowadays.

  • Reply
    Fatima Torres
    February 13, 2019 at 1:06 am

    It’s always better to seek professional assistance when planning for your future. We work with a professional for our budget plans as well.

  • Reply
    Criselle Anne
    February 13, 2019 at 10:39 am

    This is a great way to manage your money. It is worth looking up for. I probably would consider getting help from them in the future.

  • Reply
    Bella at Dear Mummy Blog
    February 13, 2019 at 11:56 am

    What a great way to manage your money and certainly something to plan for. Sounds like a good financial option.

  • Reply
    Emily
    February 13, 2019 at 10:27 pm

    This is so smart! I should meet with one soon!

  • Reply
    Jasmine Hewitt
    February 13, 2019 at 11:20 pm

    it never hurts to seek professional help. they have all the knowledge

  • Reply
    Becca Talbot
    February 18, 2019 at 8:42 am

    Interesting post – some great tips and advice here! I will definitely have to take some of this on board x

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