Getting engaged, married or having a baby are all times when you might want to start seeing a financial advisor. Even if those milestones appear on the horizon, it’s time to start having conversations about money, said certified financial planner Zaneilia Harris, president of Harris and Harris Wealth Management.
“If you’re dating someone and it’s really serious, go to a financial planner on a date,” Harris said. Starting off on the same page with your significant other is important, said Harris, adding that money mistakes and disagreements can destroy a relationship.
If you’re having a baby, an advisor can help you manage the life change as a neutral third party, Harris said.
A financial advisor can help you get the correct estate planning documents in place, as well as work through things like who will work when, what kind of childcare you can afford and when it’s time to start planning for college. They can also help you determine the terms of a prenuptial agreement along with adjusting to a different tax status.