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Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 187 (from laksa083)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa187.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.johnhancock.com/ideas-insights/five-steps-to-start-family-on-right-financial-path.html\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.johnhancock.com/ideas-insights/five-steps-to-start-family-on-right-financial-path.html\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.johnhancock.com\/ideas-insights\/five-steps-to-start-family-on-right-financial-path.html","crawl_time":1776473780,"first_indexed_time":1663962488,"http_code":200,"src_unparsed":"com,johnhancock!www,\/ideas-insights\/five-steps-to-start-family-on-right-financial-path.html s443","src_root_hash":"15050050504378303587","history_drop_reason":null,"meta_title":"Steps to Starting Your Family Financial Plan | John Hancock","meta_descriptions":["Starting a family can be stressful especially when it comes to finances. Learn how to start a family financial plan so you can focus on the important things."],"attrs_boilerpipe_text":"Five baby steps to start your family on the right financial path\nInsure\nIn all the excitement of decorating the nursery, it’s easy to lose sight of getting your financial house in order. Nowthat you’re a parent living on two hours of sleep and takeout, that goal may seem totally out of reach. But you don’t have to lose even more sleep worrying about it. Checking a few of these things off your list will help keep your finances under control, even if nothing else in your life seems to be.\n1. Build a baby budget\nFor a middle-class family, the average cost of raising a child is nearly $14,000 a year.\n1\n That’s about $250,000 of expenses by the time they’re 18. Consider increasing your monthly budget by at least 10% for the first year to cover those new expenses.\n2\n Be mindful that if it’s your first child, your spending may be higher than if it’s your second or third child. Large, one-time purchases like swings, cribs, changing stations and car seats can really add up.\n2. Replan your health plan\nBe sure to add your new addition to your medical insurance coverage. Most plans give you between 30 and 60 days after delivery to add your child. If done in that time frame, your baby should be covered retroactively.\n3\nBrace yourself, because your little one is going to rack up some bills. According to a 2019 survey, a baby’s first-year medical expenses average more than $2,200.\n4\n But you can turn that to your advantage. If you have been putting off medical procedures, consider having them during this first year. Costs associated with your new baby will likely hit your annual deductible and allow you to save a lot on your own medical expenses.\n2\n3. Start a college fund\nOpen a 529 plan and encourage grandparents and others to make contributions in lieu of gifts. They offer tax-deferred growth, and any earnings could grow faster than a taxable account. A \n529 college savings plan\n also entitles you to federal tax-free distributions for certain qualified expenses.\nAs of 2018, each parent and grandparent can contribute up to $15,000 annually per child and exclude these contributions from gift taxes.\n2\n4. Protect your nest with life insurance\nYou don’t need to break the bank to gain some peace of mind. Simply put, \nlife insurance\n is a good thing to have if you have a family to protect or a business to maintain. Because life insurance isn't just about your death—it's about your life too. It's peace of mind for you and protection for the people you care about most.\nTerm life insurance is a straightforward, low-cost option that provides financial protection for a set period of time (such as 10, 15 or 20 years). You can customize the amount of coverage and the duration of your policy to protect your growing family.\nFor added financial security, consider permanent life insurance. It provides protection for as long as you live plus a cash value component that can give you financial resources to help with big moments, like sending a child to college. \nA common rule of thumb is to purchase life insurance that’s roughly 10 times your annual income. Everyone’s financial needs are different – that’s why it may help to find out how much \nlife insurance coverage\n you need.\n5. Save something for yourself\nIt’s easy to get swept up in providing for your child and put your own retirement savings on the back burner. Rather than making your future financial security an afterthought, take advantage of your employer-matching 401(k) contributions—which is “free money”—or open your own IRA. Set up automatic withdrawal of your retirement contributions, so you don’t have to think about it every month. By starting to save early, you gain the benefit of years of compound interest—and you ensure that your kids won’t be stuck paying for you later in life.\n3\nCitations:\n1\n CBS News: “Parents, save up: It costs this much to raise a kid” January 9, 2017 \nhttps:\/\/www.cbsnews.com\/news\/cost-of-raising-a-child-parents-save-up\/\n2\n Kliplinger: “5 Financial Tips for New Parents” by Jason R. Cross, CFP\n®\n, CTFA, May 18, 2018 \nhttps:\/\/www.kiplinger.com\/article\/retirement\/T065-C032-S014-5-financial-tips-for-new-parents.html\n3\n Forbes: “11 Financial Moves Every New Parent Should Make” by Janet Berry-Johnson, June 27, 2018 \nhttps:\/\/www.forbes.com\/sites\/janetberryjohnson\/2018\/06\/27\/11-financial-moves-every-new-parent-should-make\/#670c6b66ceca\n4\n  Lendedu: “On Average, Raising a Child Costs $13,186 in First Year” by Mike Brown, February 26, 2019 \nhttps:\/\/lendedu.com\/blog\/cost-of-newborn-baby\/\n \nThis article is not an endorsement of any particular product, service or organization; nor are they intended to provide financial, tax or legal advice. They are intended to promote awareness and are for educational purposes only.\n \nMLINY051019060","attrs_markdown":"[Skip to main content](https:\/\/www.johnhancock.com\/ideas-insights\/five-steps-to-start-family-on-right-financial-path.html#content) [Accessibility help](https:\/\/www.johnhancock.com\/ideas-insights\/five-steps-to-start-family-on-right-financial-path.html#a11y)\n\n[![The blue logo for John Hancock ](https:\/\/www.johnhancock.com\/content\/dam\/onejohnhancock\/images\/homepage\/JohnHancock_rgb.svg)](https:\/\/www.johnhancock.com\/index.html)\n\n- [Help center](https:\/\/www.johnhancock.com\/help-center.html)\n\n1. 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[Leaders in Longevity Docuseries](https:\/\/www.johnhancock.com\/ideas-insights\/longer-healthier-better-insights\/docuseries.html)\n- [About us](https:\/\/www.johnhancock.com\/ideas-insights\/five-steps-to-start-family-on-right-financial-path.html)\n  - [Explore about us](https:\/\/www.johnhancock.com\/about-us.html)\n  - [Community Investment](https:\/\/www.johnhancock.com\/about-us\/community-investment.html)\n  - [Customer Stories](https:\/\/www.johnhancock.com\/about-us\/customer-stories.html)\n  - [Inclusion](https:\/\/www.johnhancock.com\/about-us\/inclusion.html)\n  - [Leadership](https:\/\/www.johnhancock.com\/about-us\/leadership.html)\n  - [Newsroom](https:\/\/www.johnhancock.com\/about-us\/newsroom.html)\n  - [Our Culture](https:\/\/www.johnhancock.com\/about-us\/our-culture.html)\n- [Help center](https:\/\/www.johnhancock.com\/ideas-insights\/five-steps-to-start-family-on-right-financial-path.html)\n  - [Get started](https:\/\/www.johnhancock.com\/help-center.html)\n  - [Life insurance](https:\/\/www.johnhancock.com\/help-center\/life-insurance.html)\n  - [Retirement](https:\/\/www.johnhancock.com\/help-center\/retirement.html)\n  - [Individual annuities](https:\/\/www.johnhancock.com\/help-center\/individual-annuities.html)\n  - [Long-Term Care](https:\/\/www.johnhancock.com\/help-center\/long-term-care.html)\n  - [Investments](https:\/\/www.johnhancock.com\/help-center\/investments.html)\n  - [Group annuities](https:\/\/www.johnhancock.com\/help-center\/group-annuities.html)\n  - [Other resources](https:\/\/www.johnhancock.com\/help-center\/other-resources.html)\n  - [Help center](https:\/\/www.johnhancock.com\/help-center.html)\n  1. [Help center](https:\/\/www.johnhancock.com\/help-center.html)\n  - [For plan sponsors](https:\/\/www.johnhancock.com\/plan-sponsors.html)\n  1. [For plan sponsors](https:\/\/www.johnhancock.com\/plan-sponsors.html)\n\n#### Your browser is not supported.\nTo use our website, we recommend using the latest version of Microsoft Edge, Chrome, or Safari.\n\n# Five baby steps to start your family on the right financial path\nInsure\n\n![A mother and her young daughter holding hands and running on the beach at sunset](https:\/\/www.johnhancock.com\/content\/dam\/onejohnhancock\/articles\/5-baby-steps-\/5BabySteps_2x1_large_768_384.jpg)\n\nIn all the excitement of decorating the nursery, it’s easy to lose sight of getting your financial house in order. Nowthat you’re a parent living on two hours of sleep and takeout, that goal may seem totally out of reach. But you don’t have to lose even more sleep worrying about it. Checking a few of these things off your list will help keep your finances under control, even if nothing else in your life seems to be.\n\n### **1\\. Build a baby budget**\nFor a middle-class family, the average cost of raising a child is nearly \\$14,000 a year.1 That’s about \\$250,000 of expenses by the time they’re 18. Consider increasing your monthly budget by at least 10% for the first year to cover those new expenses.2 Be mindful that if it’s your first child, your spending may be higher than if it’s your second or third child. Large, one-time purchases like swings, cribs, changing stations and car seats can really add up.\n\n### **2\\. Replan your health plan**\nBe sure to add your new addition to your medical insurance coverage. Most plans give you between 30 and 60 days after delivery to add your child. If done in that time frame, your baby should be covered retroactively.3\n\nBrace yourself, because your little one is going to rack up some bills. According to a 2019 survey, a baby’s first-year medical expenses average more than \\$2,200.4 But you can turn that to your advantage. If you have been putting off medical procedures, consider having them during this first year. Costs associated with your new baby will likely hit your annual deductible and allow you to save a lot on your own medical expenses.2\n\n### **3\\. Start a college fund**\nOpen a 529 plan and encourage grandparents and others to make contributions in lieu of gifts. They offer tax-deferred growth, and any earnings could grow faster than a taxable account. A [529 college savings plan](https:\/\/www.johnhancock.com\/ideas-insights\/strategic-ways-parents-save-for-college.html \"529 college savings plan article\") also entitles you to federal tax-free distributions for certain qualified expenses.\n\nAs of 2018, each parent and grandparent can contribute up to \\$15,000 annually per child and exclude these contributions from gift taxes.2\n\n### **4\\. Protect your nest with life insurance**\n**You don’t need to break the bank to gain some peace of mind. Simply put,** [**life insurance**](https:\/\/www.johnhancock.com\/life-insurance.html \"Life insurance detail page\") **is a good thing to have if you have a family to protect or a business to maintain. Because life insurance isn't just about your death—it's about your life too. It's peace of mind for you and protection for the people you care about most.**\n\nTerm life insurance is a straightforward, low-cost option that provides financial protection for a set period of time (such as 10, 15 or 20 years). You can customize the amount of coverage and the duration of your policy to protect your growing family.\n\nFor added financial security, consider permanent life insurance. It provides protection for as long as you live plus a cash value component that can give you financial resources to help with big moments, like sending a child to college.\n\nA common rule of thumb is to purchase life insurance that’s roughly 10 times your annual income. Everyone’s financial needs are different – that’s why it may help to find out how much [life insurance coverage](https:\/\/www.johnhancock.com\/ideas-insights\/how-much-life-insurance-do-you-need.html \"How much life insurance do you need article\") you need.\n\n### **5\\. Save something for yourself**\nIt’s easy to get swept up in providing for your child and put your own retirement savings on the back burner. Rather than making your future financial security an afterthought, take advantage of your employer-matching 401(k) contributions—which is “free money”—or open your own IRA. Set up automatic withdrawal of your retirement contributions, so you don’t have to think about it every month. By starting to save early, you gain the benefit of years of compound interest—and you ensure that your kids won’t be stuck paying for you later in life.3\n\n## More on this topic\n- [**Switching life insurance providers: is it worth it?**](https:\/\/www.johnhancock.com\/ideas-insights\/switching-life-insurance-companies.html)\n- [**Understanding Life Insurance Payouts \\| John Hancock Insights**](https:\/\/www.johnhancock.com\/ideas-insights\/life-insurance-payouts.html)\n- [**Should you buy life insurance for family members?**](https:\/\/www.johnhancock.com\/ideas-insights\/buying-life-insurance-for-family-members.html)\n- [**5 lesser known benefits of life insurance**](https:\/\/www.johnhancock.com\/ideas-insights\/lesser-known-benefits-of-life-insurance.html)\n- [**Make winter your best season yet: Tips for taking care of your body and mind**](https:\/\/www.johnhancock.com\/ideas-insights\/tips-for-fighting-the-winter-blues-with-vitality.html)\n\nCitations:  \n   \n 1 CBS News: “Parents, save up: It costs this much to raise a kid” January 9, 2017 <https:\/\/www.cbsnews.com\/news\/cost-of-raising-a-child-parents-save-up\/>  \n 2 Kliplinger: “5 Financial Tips for New Parents” by Jason R. Cross, CFP®, CTFA, May 18, 2018 <https:\/\/www.kiplinger.com\/article\/retirement\/T065-C032-S014-5-financial-tips-for-new-parents.html>  \n 3 Forbes: “11 Financial Moves Every New Parent Should Make” by Janet Berry-Johnson, June 27, 2018 <https:\/\/www.forbes.com\/sites\/janetberryjohnson\/2018\/06\/27\/11-financial-moves-every-new-parent-should-make\/#670c6b66ceca>  \n 4 Lendedu: “On Average, Raising a Child Costs \\$13,186 in First Year” by Mike Brown, February 26, 2019 <https:\/\/lendedu.com\/blog\/cost-of-newborn-baby\/>    \n   \n This article is not an endorsement of any particular product, service or organization; nor are they intended to provide financial, tax or legal advice. 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in](https:\/\/partnerlink.jhancock.com\/authaccesscp\/sps\/authsvc?trgt=\/s\/?cid=nPXDDkpkVvldmUm7LF&PolicyId=urn:ibm:security:authentication:asf:auth_customerportals&appId=362772&appName=customerportal&Dest=https:\/\/partnerlink.jhancock.com\/fed\/sps\/jhipc\/saml20\/logininitial&PartnerId=https:\/\/customerportal)\n- [Register](https:\/\/www.johnhancock.com\/help-center\/life-insurance\/account.html)\n\n**Visit your Long-Term Care account**\n\n- Make online payments & address changes\n- Enroll in paperless delivery\n- File and managing claims\n\n- [Sign in](https:\/\/ltc.customer.johnhancock.com\/)\n- [Register](https:\/\/partnerlink.jhancock.com\/eailogin\/samsrvcs\/LTCIntercept.jsp)\n\n**Visit your Retirement account**\n\nAccess your John Hancock retirement plan account, including 401k or defined benefit plans.\n\n- [Sign in](https:\/\/myplan.johnhancock.com\/login)\n- [Register](https:\/\/myplan.johnhancock.com\/registration)\n\n**Find a Life Insurance form**\n\nFrom personal account info to policy changes and tax reporting, you’ll find the forms and info you need here.\n\n- [Visit forms page](https:\/\/life.customer.johnhancock.com\/s\/formshome)\n\n**Find a Long-Term Care form**\n\nMake agent updates, account changes, authorizations, automatic payments and more.\n\n- [Visit forms page](https:\/\/www.johnhancock.com\/help-center\/long-term-care\/forms.html)\n\n**Visit the Life Insurance claims center**\n\nOur claims center has all the forms you need to quickly and efficiently start the claims process and access your benefits.\n\n- [Visit claims center](https:\/\/www.johnhancock.com\/help-center\/life-insurance\/claims.html)","attrs_readable_markdown":"## Five baby steps to start your family on the right financial path\nInsure\n\n![A mother and her young daughter holding hands and running on the beach at sunset](https:\/\/www.johnhancock.com\/content\/dam\/onejohnhancock\/articles\/5-baby-steps-\/5BabySteps_2x1_large_768_384.jpg)\n\nIn all the excitement of decorating the nursery, it’s easy to lose sight of getting your financial house in order. Nowthat you’re a parent living on two hours of sleep and takeout, that goal may seem totally out of reach. But you don’t have to lose even more sleep worrying about it. Checking a few of these things off your list will help keep your finances under control, even if nothing else in your life seems to be.\n\n### **1\\. Build a baby budget**\nFor a middle-class family, the average cost of raising a child is nearly \\$14,000 a year.1 That’s about \\$250,000 of expenses by the time they’re 18. Consider increasing your monthly budget by at least 10% for the first year to cover those new expenses.2 Be mindful that if it’s your first child, your spending may be higher than if it’s your second or third child. Large, one-time purchases like swings, cribs, changing stations and car seats can really add up.\n\n### **2\\. Replan your health plan**\nBe sure to add your new addition to your medical insurance coverage. Most plans give you between 30 and 60 days after delivery to add your child. If done in that time frame, your baby should be covered retroactively.3\n\nBrace yourself, because your little one is going to rack up some bills. According to a 2019 survey, a baby’s first-year medical expenses average more than \\$2,200.4 But you can turn that to your advantage. If you have been putting off medical procedures, consider having them during this first year. Costs associated with your new baby will likely hit your annual deductible and allow you to save a lot on your own medical expenses.2\n\n### **3\\. Start a college fund**\nOpen a 529 plan and encourage grandparents and others to make contributions in lieu of gifts. They offer tax-deferred growth, and any earnings could grow faster than a taxable account. A [529 college savings plan](https:\/\/www.johnhancock.com\/ideas-insights\/strategic-ways-parents-save-for-college.html \"529 college savings plan article\") also entitles you to federal tax-free distributions for certain qualified expenses.\n\nAs of 2018, each parent and grandparent can contribute up to \\$15,000 annually per child and exclude these contributions from gift taxes.2\n\n### **4\\. Protect your nest with life insurance**\n**You don’t need to break the bank to gain some peace of mind. Simply put,** [**life insurance**](https:\/\/www.johnhancock.com\/life-insurance.html \"Life insurance detail page\") **is a good thing to have if you have a family to protect or a business to maintain. Because life insurance isn't just about your death—it's about your life too. It's peace of mind for you and protection for the people you care about most.**\n\nTerm life insurance is a straightforward, low-cost option that provides financial protection for a set period of time (such as 10, 15 or 20 years). You can customize the amount of coverage and the duration of your policy to protect your growing family.\n\nFor added financial security, consider permanent life insurance. It provides protection for as long as you live plus a cash value component that can give you financial resources to help with big moments, like sending a child to college.\n\nA common rule of thumb is to purchase life insurance that’s roughly 10 times your annual income. Everyone’s financial needs are different – that’s why it may help to find out how much [life insurance coverage](https:\/\/www.johnhancock.com\/ideas-insights\/how-much-life-insurance-do-you-need.html \"How much life insurance do you need article\") you need.\n\n### **5\\. Save something for yourself**\nIt’s easy to get swept up in providing for your child and put your own retirement savings on the back burner. Rather than making your future financial security an afterthought, take advantage of your employer-matching 401(k) contributions—which is “free money”—or open your own IRA. Set up automatic withdrawal of your retirement contributions, so you don’t have to think about it every month. By starting to save early, you gain the benefit of years of compound interest—and you ensure that your kids won’t be stuck paying for you later in life.3\n\nCitations: 1 CBS News: “Parents, save up: It costs this much to raise a kid” January 9, 2017 <https:\/\/www.cbsnews.com\/news\/cost-of-raising-a-child-parents-save-up\/>  \n 2 Kliplinger: “5 Financial Tips for New Parents” by Jason R. Cross, CFP®, CTFA, May 18, 2018 <https:\/\/www.kiplinger.com\/article\/retirement\/T065-C032-S014-5-financial-tips-for-new-parents.html>  \n 3 Forbes: “11 Financial Moves Every New Parent Should Make” by Janet Berry-Johnson, June 27, 2018 <https:\/\/www.forbes.com\/sites\/janetberryjohnson\/2018\/06\/27\/11-financial-moves-every-new-parent-should-make\/#670c6b66ceca>  \n 4 Lendedu: “On Average, Raising a Child Costs \\$13,186 in First Year” by Mike Brown, February 26, 2019 <https:\/\/lendedu.com\/blog\/cost-of-newborn-baby\/> This article is not an endorsement of any particular product, service or organization; nor are they intended to provide financial, tax or legal advice. They are intended to promote awareness and are for educational purposes only.\n\nMLINY051019060","meta_canonical":null}

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Boilerpipe Text	Five baby steps to start your family on the right financial path Insure In all the excitement of decorating the nursery, it’s easy to lose sight of getting your financial house in order. Nowthat you’re a parent living on two hours of sleep and takeout, that goal may seem totally out of reach. But you don’t have to lose even more sleep worrying about it. Checking a few of these things off your list will help keep your finances under control, even if nothing else in your life seems to be. 1. Build a baby budget For a middle-class family, the average cost of raising a child is nearly $14,000 a year. 1 That’s about $250,000 of expenses by the time they’re 18. Consider increasing your monthly budget by at least 10% for the first year to cover those new expenses. 2 Be mindful that if it’s your first child, your spending may be higher than if it’s your second or third child. Large, one-time purchases like swings, cribs, changing stations and car seats can really add up. 2. Replan your health plan Be sure to add your new addition to your medical insurance coverage. Most plans give you between 30 and 60 days after delivery to add your child. If done in that time frame, your baby should be covered retroactively. 3 Brace yourself, because your little one is going to rack up some bills. According to a 2019 survey, a baby’s first-year medical expenses average more than $2,200. 4 But you can turn that to your advantage. If you have been putting off medical procedures, consider having them during this first year. Costs associated with your new baby will likely hit your annual deductible and allow you to save a lot on your own medical expenses. 2 3. Start a college fund Open a 529 plan and encourage grandparents and others to make contributions in lieu of gifts. They offer tax-deferred growth, and any earnings could grow faster than a taxable account. A 529 college savings plan also entitles you to federal tax-free distributions for certain qualified expenses. As of 2018, each parent and grandparent can contribute up to $15,000 annually per child and exclude these contributions from gift taxes. 2 4. Protect your nest with life insurance You don’t need to break the bank to gain some peace of mind. Simply put, life insurance is a good thing to have if you have a family to protect or a business to maintain. Because life insurance isn't just about your death—it's about your life too. It's peace of mind for you and protection for the people you care about most. Term life insurance is a straightforward, low-cost option that provides financial protection for a set period of time (such as 10, 15 or 20 years). You can customize the amount of coverage and the duration of your policy to protect your growing family. For added financial security, consider permanent life insurance. It provides protection for as long as you live plus a cash value component that can give you financial resources to help with big moments, like sending a child to college. A common rule of thumb is to purchase life insurance that’s roughly 10 times your annual income. Everyone’s financial needs are different – that’s why it may help to find out how much life insurance coverage you need. 5. Save something for yourself It’s easy to get swept up in providing for your child and put your own retirement savings on the back burner. Rather than making your future financial security an afterthought, take advantage of your employer-matching 401(k) contributions—which is “free money”—or open your own IRA. Set up automatic withdrawal of your retirement contributions, so you don’t have to think about it every month. By starting to save early, you gain the benefit of years of compound interest—and you ensure that your kids won’t be stuck paying for you later in life. 3 Citations: 1 CBS News: “Parents, save up: It costs this much to raise a kid” January 9, 2017 https://www.cbsnews.com/news/cost-of-raising-a-child-parents-save-up/ 2 Kliplinger: “5 Financial Tips for New Parents” by Jason R. Cross, CFP ® , CTFA, May 18, 2018 https://www.kiplinger.com/article/retirement/T065-C032-S014-5-financial-tips-for-new-parents.html 3 Forbes: “11 Financial Moves Every New Parent Should Make” by Janet Berry-Johnson, June 27, 2018 https://www.forbes.com/sites/janetberryjohnson/2018/06/27/11-financial-moves-every-new-parent-should-make/#670c6b66ceca 4 Lendedu: “On Average, Raising a Child Costs $13,186 in First Year” by Mike Brown, February 26, 2019 https://lendedu.com/blog/cost-of-newborn-baby/ This article is not an endorsement of any particular product, service or organization; nor are they intended to provide financial, tax or legal advice. They are intended to promote awareness and are for educational purposes only. MLINY051019060
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[Help center](https://www.johnhancock.com/help-center.html) - [For plan sponsors](https://www.johnhancock.com/plan-sponsors.html) 1. [For plan sponsors](https://www.johnhancock.com/plan-sponsors.html) #### Your browser is not supported. To use our website, we recommend using the latest version of Microsoft Edge, Chrome, or Safari. # Five baby steps to start your family on the right financial path Insure ![A mother and her young daughter holding hands and running on the beach at sunset](https://www.johnhancock.com/content/dam/onejohnhancock/articles/5-baby-steps-/5BabySteps_2x1_large_768_384.jpg) In all the excitement of decorating the nursery, it’s easy to lose sight of getting your financial house in order. Nowthat you’re a parent living on two hours of sleep and takeout, that goal may seem totally out of reach. But you don’t have to lose even more sleep worrying about it. Checking a few of these things off your list will help keep your finances under control, even if nothing else in your life seems to be. ### 1\. Build a baby budget For a middle-class family, the average cost of raising a child is nearly \$14,000 a year.1 That’s about \$250,000 of expenses by the time they’re 18. Consider increasing your monthly budget by at least 10% for the first year to cover those new expenses.2 Be mindful that if it’s your first child, your spending may be higher than if it’s your second or third child. Large, one-time purchases like swings, cribs, changing stations and car seats can really add up. ### 2\. Replan your health plan Be sure to add your new addition to your medical insurance coverage. Most plans give you between 30 and 60 days after delivery to add your child. If done in that time frame, your baby should be covered retroactively.3 Brace yourself, because your little one is going to rack up some bills. According to a 2019 survey, a baby’s first-year medical expenses average more than \$2,200.4 But you can turn that to your advantage. If you have been putting off medical procedures, consider having them during this first year. Costs associated with your new baby will likely hit your annual deductible and allow you to save a lot on your own medical expenses.2 ### 3\. Start a college fund Open a 529 plan and encourage grandparents and others to make contributions in lieu of gifts. They offer tax-deferred growth, and any earnings could grow faster than a taxable account. A [529 college savings plan](https://www.johnhancock.com/ideas-insights/strategic-ways-parents-save-for-college.html "529 college savings plan article") also entitles you to federal tax-free distributions for certain qualified expenses. As of 2018, each parent and grandparent can contribute up to \$15,000 annually per child and exclude these contributions from gift taxes.2 ### 4\. Protect your nest with life insurance You don’t need to break the bank to gain some peace of mind. Simply put, [life insurance](https://www.johnhancock.com/life-insurance.html "Life insurance detail page") is a good thing to have if you have a family to protect or a business to maintain. Because life insurance isn't just about your death—it's about your life too. It's peace of mind for you and protection for the people you care about most. Term life insurance is a straightforward, low-cost option that provides financial protection for a set period of time (such as 10, 15 or 20 years). You can customize the amount of coverage and the duration of your policy to protect your growing family. For added financial security, consider permanent life insurance. It provides protection for as long as you live plus a cash value component that can give you financial resources to help with big moments, like sending a child to college. A common rule of thumb is to purchase life insurance that’s roughly 10 times your annual income. Everyone’s financial needs are different – that’s why it may help to find out how much [life insurance coverage](https://www.johnhancock.com/ideas-insights/how-much-life-insurance-do-you-need.html "How much life insurance do you need article") you need. ### 5\. Save something for yourself It’s easy to get swept up in providing for your child and put your own retirement savings on the back burner. Rather than making your future financial security an afterthought, take advantage of your employer-matching 401(k) contributions—which is “free money”—or open your own IRA. Set up automatic withdrawal of your retirement contributions, so you don’t have to think about it every month. By starting to save early, you gain the benefit of years of compound interest—and you ensure that your kids won’t be stuck paying for you later in life.3 ## More on this topic - [Switching life insurance providers: is it worth it?](https://www.johnhancock.com/ideas-insights/switching-life-insurance-companies.html) - [Understanding Life Insurance Payouts \\| John Hancock Insights](https://www.johnhancock.com/ideas-insights/life-insurance-payouts.html) - [Should you buy life insurance for family members?](https://www.johnhancock.com/ideas-insights/buying-life-insurance-for-family-members.html) - [5 lesser known benefits of life insurance](https://www.johnhancock.com/ideas-insights/lesser-known-benefits-of-life-insurance.html) - [Make winter your best season yet: Tips for taking care of your body and mind](https://www.johnhancock.com/ideas-insights/tips-for-fighting-the-winter-blues-with-vitality.html) Citations: 1 CBS News: “Parents, save up: It costs this much to raise a kid” January 9, 2017 <https://www.cbsnews.com/news/cost-of-raising-a-child-parents-save-up/> 2 Kliplinger: “5 Financial Tips for New Parents” by Jason R. Cross, CFP®, CTFA, May 18, 2018 <https://www.kiplinger.com/article/retirement/T065-C032-S014-5-financial-tips-for-new-parents.html> 3 Forbes: “11 Financial Moves Every New Parent Should Make” by Janet Berry-Johnson, June 27, 2018 <https://www.forbes.com/sites/janetberryjohnson/2018/06/27/11-financial-moves-every-new-parent-should-make/#670c6b66ceca> 4 Lendedu: “On Average, Raising a Child Costs \$13,186 in First Year” by Mike Brown, February 26, 2019 <https://lendedu.com/blog/cost-of-newborn-baby/> This article is not an endorsement of any particular product, service or organization; nor are they intended to provide financial, tax or legal advice. They are intended to promote awareness and are for educational purposes only. 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Readable Markdown	## Five baby steps to start your family on the right financial path Insure ![A mother and her young daughter holding hands and running on the beach at sunset](https://www.johnhancock.com/content/dam/onejohnhancock/articles/5-baby-steps-/5BabySteps_2x1_large_768_384.jpg) In all the excitement of decorating the nursery, it’s easy to lose sight of getting your financial house in order. Nowthat you’re a parent living on two hours of sleep and takeout, that goal may seem totally out of reach. But you don’t have to lose even more sleep worrying about it. Checking a few of these things off your list will help keep your finances under control, even if nothing else in your life seems to be. ### 1\. Build a baby budget For a middle-class family, the average cost of raising a child is nearly \$14,000 a year.1 That’s about \$250,000 of expenses by the time they’re 18. Consider increasing your monthly budget by at least 10% for the first year to cover those new expenses.2 Be mindful that if it’s your first child, your spending may be higher than if it’s your second or third child. Large, one-time purchases like swings, cribs, changing stations and car seats can really add up. ### 2\. Replan your health plan Be sure to add your new addition to your medical insurance coverage. Most plans give you between 30 and 60 days after delivery to add your child. If done in that time frame, your baby should be covered retroactively.3 Brace yourself, because your little one is going to rack up some bills. According to a 2019 survey, a baby’s first-year medical expenses average more than \$2,200.4 But you can turn that to your advantage. If you have been putting off medical procedures, consider having them during this first year. Costs associated with your new baby will likely hit your annual deductible and allow you to save a lot on your own medical expenses.2 ### 3\. Start a college fund Open a 529 plan and encourage grandparents and others to make contributions in lieu of gifts. They offer tax-deferred growth, and any earnings could grow faster than a taxable account. A [529 college savings plan](https://www.johnhancock.com/ideas-insights/strategic-ways-parents-save-for-college.html "529 college savings plan article") also entitles you to federal tax-free distributions for certain qualified expenses. As of 2018, each parent and grandparent can contribute up to \$15,000 annually per child and exclude these contributions from gift taxes.2 ### 4\. Protect your nest with life insurance You don’t need to break the bank to gain some peace of mind. Simply put, [life insurance](https://www.johnhancock.com/life-insurance.html "Life insurance detail page") is a good thing to have if you have a family to protect or a business to maintain. Because life insurance isn't just about your death—it's about your life too. It's peace of mind for you and protection for the people you care about most. Term life insurance is a straightforward, low-cost option that provides financial protection for a set period of time (such as 10, 15 or 20 years). You can customize the amount of coverage and the duration of your policy to protect your growing family. For added financial security, consider permanent life insurance. It provides protection for as long as you live plus a cash value component that can give you financial resources to help with big moments, like sending a child to college. A common rule of thumb is to purchase life insurance that’s roughly 10 times your annual income. Everyone’s financial needs are different – that’s why it may help to find out how much [life insurance coverage](https://www.johnhancock.com/ideas-insights/how-much-life-insurance-do-you-need.html "How much life insurance do you need article") you need. ### 5\. Save something for yourself It’s easy to get swept up in providing for your child and put your own retirement savings on the back burner. Rather than making your future financial security an afterthought, take advantage of your employer-matching 401(k) contributions—which is “free money”—or open your own IRA. Set up automatic withdrawal of your retirement contributions, so you don’t have to think about it every month. By starting to save early, you gain the benefit of years of compound interest—and you ensure that your kids won’t be stuck paying for you later in life.3 Citations: 1 CBS News: “Parents, save up: It costs this much to raise a kid” January 9, 2017 <https://www.cbsnews.com/news/cost-of-raising-a-child-parents-save-up/> 2 Kliplinger: “5 Financial Tips for New Parents” by Jason R. Cross, CFP®, CTFA, May 18, 2018 <https://www.kiplinger.com/article/retirement/T065-C032-S014-5-financial-tips-for-new-parents.html> 3 Forbes: “11 Financial Moves Every New Parent Should Make” by Janet Berry-Johnson, June 27, 2018 <https://www.forbes.com/sites/janetberryjohnson/2018/06/27/11-financial-moves-every-new-parent-should-make/#670c6b66ceca> 4 Lendedu: “On Average, Raising a Child Costs \$13,186 in First Year” by Mike Brown, February 26, 2019 <https://lendedu.com/blog/cost-of-newborn-baby/> This article is not an endorsement of any particular product, service or organization; nor are they intended to provide financial, tax or legal advice. They are intended to promote awareness and are for educational purposes only. MLINY051019060
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