Becoming a Parent or Grandparent
Children and grandchildren bring joy to a family, but they also bring new financial responsibilities. As you start planning your family, look to Thrivent Financial for guidance. We can help you create a wise financial strategy that aligns with your Christian values and provides for the new baby through the years.
Financial tips for starting a family
Becoming a new parent comes with new responsibilities, especially financial ones. Start baby off right with these five financial tasks that new parents should tackle first.
Read tips for new parents
Start saving for baby's education
It's never too early to start saving for your child's college education. Our college savings calculator can help you develop a plan for your child's higher education costs.
Calculate college costs
Start preparing for your family's future
As your family grows, there's a lot to think about financially – things that might not have been on your mind before starting a family. We'll help you take steps to protect your family's financial future.
Consider life insurance for the new baby
It's natural to want to protect your new child or grandchild from some of life's bumps and bruises. So when it comes to protecting his or her financial future, you may want to consider juvenile life insurance from Thrivent. It can help start your new family member on a wise financial path early in life and protect his or her future insurability.
- Create a potential funding source for college or the purchase of a first home.1
- Help cover expenses and emotional needs if the child dies.
Fund education for your child or grandchild
When you invest in your child's or grandchild's education, you invest in your family's future. But with so many college savings options, like 529 plans and Coverdell Education Savings Accounts, where do you begin? Thrivent can help you navigate through all the options and save for college.
- Save early to avoid overburdening your student with debt.
- Balance competing goals – save for education and retirement.
Prepare for an unexpected illness or injury
With a growing family, you have more people to provide for. Help keep an income flowing into your household if you become sick or disabled. Disability income insurance can help pay your bills and other expenses if you can't work.
- Help cover bills and other financial responsibilities.
- Provide coverage for a stay-at-home spouse.
All your children will be taught by the Lord, and great will be their peace.
This is a solicitation for insurance. A Thrivent Financial representative may contact you.
1 Loans and surrenders will decrease the death proceeds and the value available to pay insurance costs which may cause the contract to terminate without value. Surrenders may generate an income tax liability and charges may apply. A significant taxable event can occur if a contract terminates with outstanding debt. Contact your tax advisor for further details. Loaned values may accumulate at a lower rate than unloaned values.