If you are a stay-at-home parent, you may be able to contribute to an IRA based on the combined compensation of you and your spouse.
When planning for your retirement, factor in the cost of health care. Consider your Medicare premiums, co-pays and deductibles. For more on how much you will need and what you can do, read this Financial Tip.
Bil Lako, CFP®, and Dr. Gene Henssler offer financial tips to young families.