Expert Q&A Archive

First, let me start by saying that I believe this to be the most important & meaningful "career" in the world! My wife has been doing the same since 2 weeks before our first was born. That was 9 ½ years ago & we never cease to see the return on investment!! Now, that said, it’s a trade off. This is like time, once it’s past, you can’t "make up for it". I don’t know what form of income you’ll have, if any. Are you married or have a significant other who is providing an income while you raise children & take care of the home? If so, a couple of options to ensure yourself some retirement income would be to over-fund a Universal Life policy and / or an annuity. This way you get some tax deferred savings compounding over the years. You may also want to consider a small home-based business that would allow you to accomplish all the duties you’ll have at home and be able to create some extra income to use to help fund some tax-deferred savings. Having this income would allow you to fund a Roth IRA (using after-tax $$) & will accumulate tax-deferred. If you leave the monies in there until your at least 59 ½, it will come out tax-free! Best to ya!