The United Nations Principles for Responsible Investment (UNPRI) considers the SDGs as “the globally agreed sustainability framework”, and it has become the agreed-upon language for communicating the world’s most significant challenges.  Ban Ki-moon, former Secretary-General of the United Nations, in a 2010 report describes the role of families in achieving the SDGs: “The very contribution of families to the achievement of development goals continues to be largely overlooked, while there seems to be a consensus on the fact that, so far, the stability and cohesiveness of communities and societies largely rest on the strength of the family.  In effect, the very achievement of development goals depends on how well families are empowered to contribute to the achievement of those goals.”  The report provides insights on how families can help accelerate the achievement of the SDGs and mitigate existing funding gaps that present headwinds to that achievement.

Now that you have decided to grow your family, a myriad of new children financial planning and savings opportunities come into play. Sometimes sorting through the universe of options, opinions, and even the planning vernacular can be somewhat daunting (Coverdale’s, UVLIs, Crummey Trusts, oh my!). And of course, the holiday dinner table is always a hotbed of unsolicited personal, political and financial advice, with one relative singing the praises of cash value life insurance, another EE savings bonds, and that eccentric cousin who always pushes the old ‘cash in the mattress’ and gold buried in the backyard strategy. While all may have some merit, the important thing is to get started early, articulate clear goals, and take action.  While more advanced and even multi-generational strategies/structures may become available and appropriate as your family’s planning and finances evolve, initially we suggest considering two simple, yet powerful, savings options outlined below. Any disciplined savings account or structure will not only help secure your new addition’s financial future but also provide a forum to pass down financial lessons and values, whether inherited and instilled by your family or self-learned through your life experience.

May is Mental Health Awareness month, as it has been each year since 1949. This year’s campaign by the National Alliance on Mental Illness (NAMI), themed “You Are Not Alone,” is especially poignant given the long months of isolation, not to mention grief and hardship for many, brought on by the pandemic.