From Prenups to Pregnancy: Financial Planning for a Young Family

Getting married and having a family entails a slew of financial decisions. A financial planner shares what she wishes she had known as she navigated this complex but rewarding stage of life.

A bride and groom are seen from the knees down, in a white gown and black suit.
(Image credit: Getty Images)

Editor’s note: This is Part 2 of a four-part series “Financial Advice I Would Give My Younger Self,”  as a wealth strategist looks back at what she knows now that she wishes she’d known back then. For more, please read: Part 1: The Best Ways to Pay for College and Part 3: 6 Retirement Strategies to Start Young, Finish Strong and Part 4: Caring for Aging Parents Takes Planning Ahead and Patience.

As a planning expert frequently on the lecture tour, I often get asked, “What else should we know?” I always look at the younger audience members and think – if only I knew this back when. That’s the motivation behind this expert series, Last month, I  began with the topic of planning for education funding. This month, I shall follow my younger self past college and my first job, and into the next “typical” stage in life – getting married and starting a family.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Alvina Lo
Chief Wealth Strategist, Wilmington Trust

Alvina Lo is responsible for family office and strategic wealth planning at Wilmington Trust, part of M&T Bank. Alvina was previously with Citi Private Bank, Credit Suisse Private Wealth and a practicing attorney at Milbank, Tweed, Hadley & McCloy, LLC. She holds a B.S. in civil engineering from the University of Virginia and a JD from the University of Pennsylvania.  She is a published author, frequent lecturer and has been quoted in major outlets such as "The New York Times."