- just started your family
- are considering having children
- or your kids are getting older
It’s never too late to start planning for the future of your family. If you’re already a parent, you know time flies. You need to revisit the plans you made a decade ago if:
- you’ve moved to another state
- your children have taken up new interests
- or are preparing for college
You may have to change careers more than once as well, which may mean you’ll have to revamp your family plan as needed.
Five great ways you can secure your family’s future RIGHT NOW
Planning ahead in order to secure your family’s future can be challenging, but if you keep some key points in mind you can help secure your family’s future.
Invest In Your Kids
While you may be consumed with making a career for yourself and making sure you have enough money to properly care for your family, it’s important to invest time in your relationship with your children as well. Make sure you take time each week to connect with your kids by engaging in an activity you both enjoy or simply taking your son or daughter to breakfast or dinner to check in with them. Planning these events ahead of time shows your children that they are important to you, and this could go a long way both now and in the future.
Live Like You Mean It
In addition to taking time for your kids, you should also make sure your life is intentionally fulfilling. Believe it or not, you’ll be setting a great example for your family and establishing a foundation of self-confidence and balance. Just as you plan to have one-on-one time with your children, plan for fun adventures, and to engage in hobbies that make you happy. This means you’ll have to organize your time and finances to make special moments happen, which helps to set a solid foundation for your family as well.
Maintain Solid Family Relationships
No family is perfect. It’s important to understand you and your loved ones will have disagreements and will frustrate each other. Set your family up for the future by making it clear: struggle is a part of life and hard work has great rewards. You can do this by explaining your retirement plans to your children in age-appropriate terms. If you have a family business, prepare your children to take over the business by allowing them to be employees. When family relationships are positive and healthy, it will be easier for you to work together, even if you have a quarrel now and then.
Get Your Estate In Order
It’s important to hire an estate planning attorney long before you’re ready to retire. Let your attorney know which property and assets you want to leave to certain family members. This way, when you pass away, your loved ones don’t have to work through dividing your belongings and can focus on the grieving process, which will likely already be devastating. If appropriate, you can let certain family members, like your spouse and adult sons and daughters, how to utilize your business, property, and funds according to your wishes.
Document All Your Decisions
Finally, make sure all your decisions are in writing. This includes your desired funeral arrangements and information about all your insurance policies. This cuts down on confusion and ensures that everyone in the family is clear about your wishes. In order for your healthcare and end-of-life decisions to be handled, assign a power of attorney. Keep all these essential documents in one place. Let your spouse or adult children know where this paperwork is located so they can access it when necessary.
As you know, preparing your family for the future is imperative. Some conversations may be difficult to have, but it’s important that everyone is on the same page when it comes to making final arrangements and giving your relatives a solid financial future. Taking care of these administrative tasks shows your love and concern for your family. It teaches your children organization and to not fear the future, so everyone focuses on making great memories in all aspects of life.
Author Bio: Samantha Higgins is a professional writer with a passion for research, observation, and innovation. She is nurturing a growing family of twin boys in Portland, Oregon with her husband. She loves kayaking and reading creative non-fiction.