Personal Finance 101: Financial Planning for Families

In the latest episode of TVC Wealth and Health Managers’ Personal Finance 101 Podcast, Certified Financial Planner® and co-Director Justin Els addresses an important yet often overlooked subject: “Financial Planning for Families.” Starting a family demands an entirely new set of financial strategies, foresight, and priorities.

The episode dives straight into the topic of “Saving for College,” a commonly burdensome concern. It emphasizes the significance of starting to save early and contributing consistently (the factor that transforms college into a viable prospect for many) to create a college fund that bestows children with an advantageous start into adulthood.

Transitioning focus, the discussion navigates to “Buying a Home,” a goal that frequently appears daunting. In the quest for a secure foundation, the conversation delves into the role of credit history and the weight of substantial down payments. How can one achieve financial preparedness to embark on the home-buying journey?

Concluding the episode, Justin delves into “Estate Planning,” a topic often disregarded yet notably impactful. Justin tackles the topic we often willfully bypass, will drafting, asset management, and introduces the concept of a “Family Trust” to establish a legacy that endures.

Within this podcast, Justin Els empowers millennials entering parenthood or contemplating it with actionable financial insights. “Saving for College,” “Buying a Home,” “Safeguarding Your Family,” and “Estate Planning” stand as pivotal topics, furnishing listeners with the tools to confidently navigate critical financial decisions.

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