The advantage of accumulating after-tax assets in a retirement account is that when they are distributed, the amounts will be tax- and penalty-free. However, this benefit is realized only if the necessary steps are taken.
Planning for significant life transitions is central to financial planning. As recent first-time parents, we can say with confidence that there may be no greater transition in life than starting a family.
Deciding to start a family is one of the most exciting and life-changing decisions a couple can make. All too often, couples get caught up in the rush to decorate and stock up on baby supplies at the expense of prioritizing essential financial planning considerations.