We just sent our first child off to college. (He’s pictured at his high school graduation.) Among the many emotions — excitement, loss, joy, sadness, hope and trepidation — there’s another feeling that’s relevant to all of our financial lives: disbelief. You never think the future will actually arrive. But eventually, it does. That’s why we all need a financial plan, and we need to commit to it.
We have so many wonderful memories of our son growing up, as almost any parent does. My wife and I are hugely proud. We’re his #1 fans (okay, we’re tied with his sister). We have always wanted the best for him, including college. That last part was easy, because the downside to us — his departure — was in the nebulous time we call the future.
But it has arrived — suddenly.
If you have not started saving for college, if you have not committed to a retirement plan that’s viable, if you have not done estate planning (wills and related documents), if you haven’t thought hard about insurance needs … please make time soon.
The future will arrive before you know it. Trust me.