Financial Expert Shares 2025 Emergency Planning Goals for New Parents
In a recent revelation, financial writer Jen Glantz has highlighted the critical importance of emergency financial planning, particularly for new parents. Glantz, who recently became a parent herself, has outlined her financial goals for 2025, aimed at bolstering her family’s financial security.
At the top of Glantz’s list is rebuilding her emergency fund. Having previously maintained a fund covering three to six months of living expenses, she found it depleted during the pandemic due to the loss of freelance work. Her new strategy involves a monthly contribution of $500 to replenish this crucial safety net.
Life insurance has also become a priority for Glantz and her husband. While they agree on its necessity, they are currently debating between whole life and term life policies. To resolve this, they have scheduled an appointment with an insurance agent to gather more information and make an informed decision.
With reduced work hours due to childcare responsibilities, Glantz is focusing on growing her passive income streams. She has already launched AI tools for wedding and eulogy writing, which are generating a few thousand dollars monthly, demonstrating her commitment to financial innovation.
Recognizing the risks associated with being a solopreneur, Glantz plans to secure disability insurance. This coverage would provide income protection in case of illness or injury preventing her from working.
Estate planning has also taken on new significance for Glantz as a parent. She emphasizes the importance of ensuring proper asset distribution and management for her minor daughter in the event of both parents’ passing.
Lastly, Glantz is considering engaging a financial advisor. She suggests using SmartAsset’s free tool to find vetted fiduciary advisors who are obligated to act in their client’s best interests.
This comprehensive approach to financial planning underscores the evolving needs of new parents and entrepreneurs in today’s economic landscape. As more individuals face similar challenges, Glantz’s strategy offers valuable insights for those looking to secure their financial future.
