Grow up plan gerber life8/30/2023 ![]() That's one of the biggest issues the baby boomers (my mom's generation) faces today- they've been saving for their child's future and not their retirement, which is why we're seeing more and more people of retirement age, in their 60s and 70s still working part-time, because they didn't save enough for their retirement. You don't have those options for retirement. And they'd have an entire lifetime career ahead of them to pay it off. ![]() ![]() Sure, you'd like to save something for your child's future, but also your child could have access to grants, scholarships, and student loans for their future. Some people may disagree, but when we spoke w/ our advisor, it's the conclusion we came to. I say life insurance ahead of college savings if you don't have access to 5-10k in savings, if God-forbid you lose a child and not have anything to cover expenses (this just happened to a friend of mine.) I say college savings last only because I feel it's important to take care of your financial future first, and if you're paycheck-to-paycheck, you need to think about your future- retirement/savings/medical, etc. A few things to consider, and of course hope to God that you wouldn't need any of it.but God-forbid just in case, my order would be this: life insurance on you and your husband (to support your children), disability insurance on your husband (if he's the sole income provider and he is injured and unable to work, it'll provide your family with at least some income), life insurance for your kids, and then college savings. ![]() But whoever you choose, you can tell the representative what your monthly budget is, and he/she can review with you different options. We use Northwest Mutual (our representative is in Northwest IN, email me if you'd like his info) and he is absolutely fantastic. If you havent received a brochure on The Gerber Life Grow Up Plan, youre urged to call in today You can even apply over the phone. What a great mom! Anyway, my advice would be to meet with an insurance representative rather than the Gerber plan. I see you've already received a number of responses, so you have a lot to think about! First, let me commend you for even thinking about your children's financial future when it sounds like you're in a tough financial spot yourself right now. ![]()
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