The most important thing that I am working on these days is protecting my peace. I am learning that this, like everything else in yoga, is a practice. One that will constantly require dedication and nurturing as long as I live. A lot of times when I lose this sense of peace, my thoughts are racing towards the future. Instead of letting my mind snowball and worry about things I have no control over, I have decided to shift my focus on what I can control, especially when it comes to the unkowns that the future holds.
I think one thing all parents can relate to is wanting the best for our child and to make sure that they are taken care of, no matter what happens. Lately, I have started to think more seriously about what I can do right now to provide a strong financial foundation for my daughter.
The first step that my husband and I took towards this was signing up for life insurance. We did this when we got married almost five years ago. However, part of the process included a medical exam, which required drawing a blood sample, and let's just say... ya girl does not love needles. Or blood. The appointment ended with me puking in the bathroom while the nurse was packing up, overheated, dizzy, and quite literally sick from seeing blood leave my body.
So if you are hyper sensitive like me, I have to put you on to this company that offers instant life insurance without a medical exam. It's called Fabric by Gerber Life (yes Gerber as in the company with the cute baby branding that we grew up with) and you can sign up for life insurance through an online application. They make it so easy and way less anxiety provoking! I honestly wish I knew about it sooner.
They also offer UGMA accounts, which are essentially savings accounts for minors that can be contributed by anyone for any amount, which is tax free if the amount is under $17,000 a year or $34,000 for a married couple filing jointly. Once contributed, the money belongs to the child and can be withdrawn when the child becomes an adult. These are unique because unlike a college saving fund, there is no penalty if the account assets are used for something other than college, such as living expenses or a car, which provides more spending flexibility. Fabric also has the lowest monthly minimum that I have found, so it is a great way to start saving for any budget.
Another feature I love is the free family oriented online will maker. According to the CDC Foundation, "A will, or a last will and testament, is a legal document that describes how you would like your property and other assets to be distributed after your death. When you make a will, you can also use it to nominate guardians for your children, dependents, or pets." Nobody likes to think about creating a will, me especially, but it's absolutely necessary to provide peace of mind knowing that my family will always be taken care of, even beyond my time on Earth.
There is so much information available when it comes to planning financial wellness for your children, but if you are looking for a simple, streamlined, and cost effective way to get started from a family company you can trust, I highly recommend Fabric by Gerber Life.
I don't know what the future holds but I am committed to taking charge of what I can be responsible for right here, in this moment, to protect my peace of mind. By having some sort of attainable guideline for the future, I am able to focus more on the present and the precious time that I get with my family. Creating a secure future can come with big feelings and difficult conversations, but I hope in doing so, you can experience peace. Guard it with your life.
With love and gratitude,
Hayley