For more information about the author, click to view their website: Edward Jones
If
you’re adding a child to your family, it’s an exciting time, and you have much
to anticipate. Of course, this new addition will bring many changes in your
life, so you’ll want to be prepared — especially in terms of your
finances.
What financial moves should you make
as you welcome your new child? Here are a few to consider:
• Estimate expenses — and create
a new budget. You will likely have several new expenses associated with a
new child, ranging from relatively minor purchases — car seat, stroller, crib,
etc. — to potentially much larger costs, such as a vehicle with more space or
even a new home. You’ll need to estimate what you can afford for these initial
expenses and then work in to your budget the everyday additional costs — food,
clothing, uncovered medical expenses and so on.
• Look at options to support
taking time off work. Depending on where you live and where you work, you
might have some sources of support if you take time off from work after the
arrival of your child. These options may include paid time off — such as sick
leave and vacation time — paid family leave, short-term disability insurance,
and some benefits from the Family Medical and Leave Act.
• Determine how child care will
be provided. Child care can be expensive and, in some areas, hard to find.
Well before the arrival of your child, start looking for child care, so you can
explore your options and start factoring in the costs to your cash flow and
monthly budget. During your search, look at offerings from local community
centers, religious institutions and nonprofit organizations, some of which may
offer low-cost child care programs.
• Contribute to your emergency
fund. It’s generally a good idea to keep up to six months’ worth of living
expenses in a liquid, low-risk account to pay for unexpected costs — and with a
growing family, these costs may well increase as your child grows older.
• Look at your tax situation.
You may want to consult with a tax professional to determine whether you
qualify for credits or deductions, such as the dependent care credit, the
federal child tax credit, and adoption-related credits (if you adopted a child).
Also, you may want to update your Form W-4 to add a dependent — a move that may
lower your tax withholding and increase your take-home pay.
• Start your education planning.
It’s never too soon to think about paying for costs associated with your
child’s education. You might want to consider a 529 education savings plan,
which offers tax benefits and can be used for college and many vocational
programs, as well as some K-12 costs. A financial advisor can help you explore
all available education savings options.
• Check your insurance. You’ll
need to add your child to your existing health insurance, but if you don’t have
insurance, see whether you qualify for Medicaid or the Children’s Health
Insurance Program (CHIP), or look for a marketplace plan at healthcare.gov. You
might also need to purchase additional life insurance coverage. And with a
growing family to support, you might want to add disability coverage to protect
your income against short- or long-term disabilities.
Bringing a new child into your life
is certainly a joyous occasion — and by being financially prepared, you
can make the whole experience even more enjoyable.
Chad Choate III, AAMS
828 3rd Avenue West
Bradenton, FL 34205
941-462-2445
chad.chaote@edwardjones.com
This article was written by Edward
Jones for use by your local Edward Jones Financial Advisor.
Think estate planning is only for the wealthy or elderly? Think again. If you own anything a home, a car, a savings account, even a pet you already have an estate plan. The only question is: Did you create it, or will your state do it for you?When someone passes away without an estate plan, state laws take over, deciding who gets what and when. This legal process may not reflect your wishes. Thats why taking control of your assets through a personal estate plan should be a top priority.At its core, estate planning is about clarifying your wishes and making things easier for your heirs. It ensures your assets are distributed according to your preferences, designates who will make decisions on your behalf if you can't and provides guidance for your care in a medical crisis. Most plans include four key components: A Will This document outlines how your assets should be distributed after your death and names an executor to oversee the process in probate court. It can also designate guardians for minor children. Keep in mind that a will doesnt cover everything certain transfer on death (TOD) accounts and jointly held property may bypass your will entirely. Power of Attorney If you become incapacitated, youll want someone you trust to be able to make decisions on your behalf. A durable power of attorney designates such a person, helping to ensure your bills are paid, your business continues (if you have one) and your wishes are honored. Health Care Directive Sometimes called a living will, this document spells out your preferences for medical treatment if you're unable to speak for yourself. It can also designate someone to make health care decisions for you. Beneficiary Designations Accounts like 401(k)s, IRAs, and life insurance policies transfer directly to the people you name, regardless of what your will says. Its essential to review these beneficiary designations regularly, especially after significant life events such as marriage, divorce, death of a spouse or the birth of a child. One common myth is that a will is all you need. But wills only take effect after death; they dont help if youre alive but unable to make decisions. Another misconception is that estate planning is only for the wealthy. In truth, planning is about more than money its about making things easier for the people you love during difficult times.An effective estate plan can prevent costly legal battles, reduce confusion and give your loved ones a clear roadmap to follow. It also allows you to leave a legacy that reflects your values and priorities.As your life changes, your estate plan should change along with it. Review your documents every few years or after major life events. Its often a good idea to seek help with such reviews. Your financial advisor or attorney can guide you through the process, ensuring your plan fits your unique circumstances.In the end, estate planning isnt just about planning for what happens when you are gone. Its about feeling confident, knowing that what matters most your family, your purpose, your legacy is protected.Chad Choate III, AAMS 828 3rd Avenue West Bradenton, FL 34205 941-462-2445 chad.chaote@edwardjones.com Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.
When Is Independent Living the Right Choice? 5 Signs Its Time to Consider a Senior Community in Western PA Deciding when to move to an independent living community is a major step for seniors and their families in Western Pennsylvania. Many people wonder: How do I know its time to consider independent living? If youre seeking more freedom, less stress, and vibrant social opportunities, youre not alone. Explore our independent living services in Butler, PA to see how CarePatrol of Western PA can help you make this important decision with confidence. Why the Timing of Independent Living Matters Choosing the right moment to embrace independent living can make all the difference in maintaining your loved ones happiness and well-being. According to industry research, seniors who make a proactive move to independent living communities often enjoy better health, more meaningful friendships, and a renewed sense of purpose. In Western PA, where community spirit runs deep, making this transition at the right time can help seniors continue living life to the fulleston their own terms. 5 Signs It May Be Time for Independent Living Home Maintenance Feels Overwhelming: Yard work, repairs, and daily chores are taking more time and energy, leaving less room for enjoyment. Social Circles Are Shrinking: Opportunities for connection are dwindling, leading to feelings of isolation or loneliness. Safety Concerns Are Increasing: Worries about falls, security, or managing emergencies alone are becoming more common. Desire for More Activities and Amenities: You or your loved one crave a lifestyle with convenient access to fitness, hobbies, and community events. Transportation Is a Challenge: Getting to appointments, shopping, or local outings is becoming more difficult or stressful. How CarePatrol of Western PA Makes Your Transition Easier At CarePatrol of Western PA, we understand the unique needs of seniors in Butler, Cranberry Township, Aliquippa, Beaver Falls and surrounding areas. Our local, compassionate Senior Care Advisors listen to your goals and concerns, then guide you through every step: Personalized Assessments: We get to know you and your preferences to recommend independent living communities that fit your lifestyle. Community Tours: Our Advisors arrange and accompany you on tours of local communities, helping you ask the right questions and feel at ease. Transparent Guidance: We explain all your options clearly, so you can make informed decisions with peace of mind. No Cost to You: Best of all, our senior care advisory services are always at no cost to you and the families we serve. Ongoing Support: From your first inquiry through move-in and beyond, were by your side every step of the way. Frequently Asked Questions About Independent Living in Western PA What is the difference between independent living and assisted living? Independent living is ideal for seniors who dont require daily assistance but want a community lifestyle with amenities and activities. Assisted living offers additional support with daily tasks like bathing or medication management. Can I bring my own furniture and personal items? Yes! Most independent living communities encourage residents to personalize their private apartments to feel right at home. Are meals and transportation included? Many communities offer flexible dining plans and scheduled transportation for errands, appointments, and outingsmaking life easier and more enjoyable. How do I choose the right independent living community? Consider what matters mostlocation, amenities, social opportunities, and future care options. Our Senior Care Advisors provide personalized recommendations based on your unique needs. Ready to Explore Independent Living Solutions? Choosing independent living can open the door to vibrant connections, peace of mind, and a renewed sense of independence. Let CarePatrol of Western PA be your trusted guide in senior care. Explore our independent living options or speak with a local Senior Care Advisor today for guidance at no cost to you.
In the age of social media, its easy to find advice on just about anything including how to manage your money. Content creators known as finfluencers short for financial influencers use platforms like TikTok, YouTube and Instagram to share their takes on investing, budgeting and building wealth. Many of them are charismatic and relatable, and they often speak from personal experience. But while their content may be engaging, taking financial advice from a finfluencer without digging deeper can come with significant risks.While some finfluencers may have formal training or credentials, many do not. Instead, their influence stems from their popularity rather than professional experience. But popular advice may not necessarily be good advice. A 2025 study by the Swiss Finance Institute even found that unskilled finfluencers typically have larger followings than skilled ones. Why be cautious?For young or new investors, social media can make finance feel accessible. In fact, a 2022 FINRA study says that more than 60% of Americans younger than 35 get investing information from these platforms. But social media isnt regulated the same way traditional financial advising is, so anyone, qualified or not, can offer financial tips.Unlike traditional financial advisors, finfluencers dont know your unique goals, financial situation or risk tolerance. And likely, they're not licensed (you can check here: Check Out Your Investment Professional | Investor.gov). Even well-meaning guidance might lead you down a risky path if its not tailored to your needs. And unfortunately, some finfluencers have exploited the trust they build with followers to promote questionable investments or outright frauds. Warning signs to watch forHere are a few signs that a finfluencers advice may be worth avoiding: Unrealistic get-rich promises: Claims like, Turn $500 into $50,000 in a year, are highly improbable and may indicate a scam. Hurry, hurry: Be wary of advice that pressures you to act fast or plays on fear of missing out. Important financial decisions shouldnt come with a countdown clock. Flashy displays of wealth: Images of luxury cars, watches or cash can be more about generating views than offering sound advice. If a finfluencer is trying that hard to convince you to take an action, it often means they will profit perhaps theyll get paid to promote a product or service, or earn a fee for referring you, or are trying to boost clicks and followers to earn more. What you can do Do your own homework. Dont take finfluencers advice at face value. Cross-check it with reliable sources. The finfluencer may even be under investigation by a federal or state securities regulator. Talking to a licensed financial advisor you trust can help you discern good advice from the bad. Recognize conflicts of interest. If a finfluencer promotes a product or service, find out if theyre being paid to do so. And remember, online personalities make money by generating high viewership, not because their advice has a track record of success. Use common sense. When something sounds too good to be true, it usually is. And of course, never disclose your bank or brokerage account numbers to a finfluencer, and never send money. Finfluencers can make financial topics more engaging and accessible. But when it comes to your money, a social media video from someone who doesnt know you is no substitute for informed, personalized guidance. Take the time to verify, research and, when in doubt, seek advice from a professional. Chad Choate III, AAMS 828 3rd Avenue West Bradenton, FL 34205 941-462-2445 chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC
Experience and BackgroundI am a financial advisor in Bradenton, FL, and began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals.As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that.Whether you're planning for retirement, saving for college for children or grandchildren, or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service.But we're not alone. Thousands of people and advanced technology support our office so that we can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals.I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program.I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.