How To Invest If You Are Married With Children

How should I invest if I am married with children?

If you're married with children, especially if you have young children, you're usually at that point in time in your life where it just seems like you're almost getting by month to month. There's not a lot of extra cash flow. I think it's really important that you're investing for retirement at this point. You hopefully you have a house. You may be saving to move up in a home, but you've got that one major piece taken care of. The big things you're thinking about down the road are probably going to be college funding for your children and retirement. I want to suggest that you focus on retirement first and foremost. Maximize your retirement savings before you focus on saving for your kid's education, especially if you have young children, because in 15 years you're going to be in an entirely different cash flow position relative to earned income than you are now. Many times you might have the ability just to fund college when you get there. Don't save for college at the risk of not saving for your long-term retirement goal.