Ep. 35: Claire Balances a New Baby, Retirement, and Life Insurance

Meet Claire

Age: 31

Salary: $6,000/month

Employment: Government

Claire’s main concerns, in their own words:

I work for the government and my husband is a stay-at-home dad. I have one daughter 2 years old and another baby on the way. I make $6000/month take-home pay. I’m saving 5% toward retirement with 5% employer match. I have $500K in term life insurance and so does my husband. My main concern is having enough for my children’s education, life insurance, and retirement. I feel like it’s hard to know if I am prepared because I’m still young. I have $150K saved for retirement and $2K saved in my daughter’s 529 plan. I will receive a pension and I have additional life insurance/annuities for my husband if I died while working. Not sure how my situation should change once I have the second child. Any advice is appreciated. Thanks!

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