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Financial guide for new and expecting parents

Planning for new costs, maximizing parental leave, and starting a 529 the right way.

A new child is one of the most significant financial events of your life. Costs in the first year — healthcare, childcare, equipment — can run $15,000–$25,000 before the child's first birthday. The financial preparation that matters most: fully fund your emergency reserve before the birth (3–6 months, with 6 months preferred for single-income households during parental leave), understand your health insurance deductibles and out-of-pocket maximums, update your will and life insurance beneficiaries, and open a 529 — contributions in year one have 18+ years to compound.

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Educational disclaimer: All content on WealthSerene.com is for educational purposes only and does not constitute investment advice. Projections and calculations are illustrative — actual results will vary based on market conditions, your specific situation, and many factors outside this tool’s scope. Always consult a qualified financial professional for advice specific to your situation. View full disclosures →