Starting a family…a lot to think about!
Having a child, whether by birth or adoption, can be as meaningful as anything you will ever do. But as with any undertaking, preparation is key.
Before the new family member arrives, find out to what extent a pregnancy will be covered by insurance. Inquire about your employer’s policies on medical leave or missing time to take care of adoption matters or doctor’s appointments. How much maternity/paternity leave do you get, and how much is paid?
Once the new child is here, who’s your pediatrician? Do you know how to go about getting a birth certificate? How about a Social Security number (this isn’t mandatory at birth, but it’s certainly much less hassle to do it then)?
On the home front, you’ll want to know if the products you buy for your baby are safe. Is your home hazard-free? Any lead paint? Stay on top of the best products for keeping your child safe while traveling.
Tax breaks may be available to parents. Consult with a tax preparer or check out the IRS website.
Savvy planning includes something you might rather not think about: your own mortality. Do you have a guardian in mind, with their consent? Is it time to buy life insurance? Drawing up a will is always wise.
Oh yes, how about saving for your child’s education (it won’t be long)?
There’s a lot to consider, but it’s not like it all has to be done in one day. Planning ahead for a new arrival will alleviate stress and make raising your child even more rewarding than it would be otherwise.