Retirement Investing for New Moms

Almost eight months ago, I became a mom, and my entire world changed. I wasn’t sure what I was going to do work-wise before my son was born, but when I met him for the first time, I knew. At least for now, I wanted to spend my days being his mom. But that doesn’t mean I’ve stopped thinking about our finances and the future. There are many ways you can start saving for retirement early in your career, even from the first day you start working. I took advantage of several, including contributing to a Roth IRA and then to my company’s 401(k) plan. And you don’t need to stop investing for retirement as a mom if you choose to be home with your baby. Many tax-advantaged options are still available to you, and if you have the information, you and your partner can make sure you’re set up for successful saving.


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Babies and Budgets

Babies change your budget. It doesn’t matter whether you’re a saver or a spender, some of the money that you were previously socking away in your bank account or splurging on eating out all the time will now be earmarked for your tiny human. The tiny human can cost a little or a lot depending on how you handle things, and if you’re in a position where you can get a lot of hand-me-downs it’ll help tremendously! But there are a few wallet hits that will surprise most new moms. Not the big ticket items like childcare. Whether one parent stays home, you hire a nanny, or you find a daycare, it’s going to be expensive. The ones that sneak up on you most are the ones you don’t know about until you or a family member or friend you spend lots of time with has a baby.



(and sometimes you can’t resist the clothes)



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