FAMILY & RELATIONSHIPS

The 10 Most-Asked Financial Questions About Family Building, Answered

Starting a family, no matter what that looks like for you, costs women a lot. And not just financially. The effects on the body and mind from the process of becoming a mother are a whole other thing. Shockingly, this all gets overlooked in our society (that’s momwashing for you).

The all-women team of financial experts at Ellevest know this professionally — and those who are also moms know firsthand, too. That’s why we’re answering the 10 most-asked financial questions about family building: to help you lighten your mental load and feel more prepared when it comes to financial planning for starting a family.

Of course, the answers to these family-building questions will vary depending on your unique situation — where you live, what life stage you’re in, what your career looks like, and what your timeline looks like. But one tip that applies to anyone at any stage of the family-building process is to be as realistic as possible about the cost of having a family.

Use this Q&A to see what that means for you, so you can get a better idea of your financial options as you navigate how to best build your family.

🌈 5 money convos for LGBTQIA+ couples

Financial planning can look a little different for same-sex couples. If you’re joining your life with someone else — no matter how you or they identify — we encourage having money convos early and often.

But there are a couple of conversations that are especially important for LGBTQIA+ couples. Here are five things to talk about with your partner (and your financial planner), ASAP.

Dive in

💭 Links in the group chat

💌 MUST-READ: Gloria is the in-between media brand we’ve been missing. The newsletter for self-described “not young, but also not old” women features interesting interviews, fashion stories, and curated recommendations. They share stories about everything from sandwich caregiving to mid-career networking to why you can’t sleep at night, and we have a hunch you’ll like it. You can subscribe for free here.
🎯 FROM ALICES TO DINKS: Are you familiar with all the jargony acronyms that describe your demographic cohorts? Business Insider has a handy list defining them all for you — where do you fall?
💸 KEEPIN’ IT IN THE FRIEND GROUP: We’re obsessed with this story about how Korean “savings groups” are keeping friendships strong.
🎬 MELINDA FRENCH GATES’ THIRD ACT: “I feel like, Wow, I’m 60. I better surround myself with people and still travel [so that] I’m still absolutely learning, because the world is moving, the world is changing,” she says about going it alone.

This newsletter was brought to you while talking about the MNBA. Forward it to your friends who just get it. 🏀

DISCLOSURES

*The “Comprehensive Planning | $300 Investment Credit” Promotional offer is for those who 1) are first time purchasers of a Comprehensive Planning package on or before 11:59 PM EST on 6/30/2024 (the “Promotional Period”), 2) make an initial deposit of $1 or more into an Ellevest non-retirement investment account, and 3) are a client at the time the $300 is applied to your account. This Promotional Offer cannot be applied to a previous comprehensive planning package purchase, and is only available to those who successfully complete the purchase before the Promotional Period ends.

This Promotional Offer is not valid in conjunction and cannot be combined with any other offers or promotions, including our Pay Over Time options. Clients who purchase a Comprehensive Planning package before the end of the Promotional Period will pay an Ellevest plan fee starting on the date the Ellevest Plan Terms and Conditions Agreement is acknowledged (the “Effective Date”).

Refunds: If purchasers request a refund before the $300 has been added to their Ellevest investment account, our normal refund policies apply and they would no longer be eligible for the credit. If a refund is requested after the $300 credit has been added to their Ellevest investment account, we would deduct the $300 and refund the remaining balance. Client takes on market risk if they choose to refund.

Digital clients who purchase a Comprehensive Planning package during the Promotional Period and make an initial deposit of $1 or more to a non-retirement investment account within the Promotional Period will receive $300 added to their Ellevest investment account. Ellevest’s processing time for depositing $300 into a client’s Ellevest account may be up to 90 days after the Promotional Period ends.

Ellevest reserves the right to refuse to award you the Promotional Offer if it determines, in our sole discretion, that the promotion was claimed under wrongful or fraudulent circumstances, that your participation is against the spirit of the program, that making payment would constitute a violation of your Ellevest Plan Terms and Conditions Agreement or applicable federal or state law, or that incomplete or inaccurate information was provided. Ellevest reserves the right to end or modify any promotion at any time.

Ellevest fees and additional information can be found at www.ellevest.com. Other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Plan Terms and Conditions Agreement will continue to apply.

**Testimonials were given by clients of Ellevest, Inc. Testimonials are representative of the client's views at the time collected, may not be representative of the experiences of other clients, and do not provide a guarantee of future performance success or a similar experience or services. No compensation was provided for these testimonials.

All opinions and views expressed by Ellevest are current as of the date of this writing, are for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.

Information was obtained from third-party sources, which we believe to be reliable but are not guaranteed for accuracy or completeness.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal, investment, or tax advice.

The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.

Investing entails risk, including the possible loss of principal, and past performance is not predictive of future results.

Ellevest, Inc. is a SEC registered investment adviser. Ellevest fees and additional information can be found at www.ellevest.com.

Support |

Not a subscriber?

What The Elle - 🎶 It’s a family affair

The 10 Most-Asked Financial Questions About Family Building, Answered

🌈 5 money convos for LGBTQIA+ couples

“What freaks me out isn’t what I’m doing now, but what I’m going to do when I'm 80 and on my own. Ellevest’s woman focus really helped me plan for that.” — Sophia C.**

Older messages

📝 “Why do I need an estate plan?”

✈️ Your retirement rebrand

☕ Comeback stories we all deserve

📝 The millennial version of 2.5 kids

🌞 Long weekend money guide

You Might Also Like

Longreads + Open Thread

Are you in debt?

✂️ Snip, snip, America

Roll With It

Harry's Rant 9-6-24

📉 Intel's big bet failed

Diving deeper into gold investing

2 sentences that put your portfolio into absolute overdrive

✅ Your fall money to-do list is here

The AI-Driven Future - Issue #484

What The Elle - 🎶 It’s a family affair

The 10 Most-Asked Financial Questions About Family Building, Answered

🌈 ​​5 money convos for LGBTQIA+ couples

“What freaks me out isn’t what I’m doing now, but what I’m going to do when I'm 80 and on my own. Ellevest’s woman focus really helped me plan for that.” — Sophia C.**

Older messages

You Might Also Like

🌈 5 money convos for LGBTQIA+ couples