If having children is in your future, let the preparations commence! There's a lot of savings required to provide for them until they leave the nest. But with good planning and updating your budget and retirement savings to reflect your new priorities, you can give your children the things they need … and more.
A little money can go a long way when you start saving for your child's college fund early and contribute regularly. Be sure to revisit your insurance needs and update your beneficiary designations with the new arrival. Saving for college is also a major concern, but you're not on your own; MFed has many ways to help.