Generation X must stand for Generation Excellent – you’re working hard, raising a family and still managing to keep up with everyone’s busy schedule.

While the present may look pretty good right now, this is an excellent time to look toward the future, especially where your family is concerned. Let’s break it down chronologically:

Your kids

Did you know that it can cost nearly $250,000 to raise a child born in 2013 to age 18?* That’s a lot of food, clothing and shelter. But what often comes after age 18? College – and all the expenses that come with it.

If you plan to send your kids to college someday, you’ll want to be prepared for the costs. Basically, you have three options:

  1. Scholarships, which can be few and far between
  2. Loans, which charge interest
  3. Personal savings

Your third option might save you money in the long run because the more you’re able to save now, the less you may need to borrow later. Talk to your Edward Jones financial advisor about what options work best for you and your family.


At your age, retirement can seem like a lifetime away – but it’s closer than you think. While you may have a good 20 to 25 years until retirement, during that time frame, the cost of living can double, assuming a 3% inflation rate.

Don’t assume you’ll need less money when you retire. Instead, think about your ideal retirement lifestyle – and then be realistic about what it might cost. Once you have a financial goal in mind, you can work with your financial advisor to develop a strategy to get there.

Make sure your strategy includes a few "contingency plans." For example, what would happen to your family financially if you were suddenly unable to provide for them? How would they replace your income or pay someone else to take care of what you do for them daily? Life insurance and disability insurance can help provide those protections – but you’ll want the coverage that’s right for you right now. Your financial advisor can discuss options with you.

Your parents

They’re your rock, your inspiration, your favorite baby sitters. But there’s no denying that they’re getting older. Sooner or later, you may find your roles reversed, with you caring for your parents.

If your parents are healthy and active, now is a great time to sit down with them to discuss some important issues. For example, if you were suddenly put in charge, would you know who to contact? Their doctors, lawyers, financial advisors – these are all good names to keep handy. What about their insurance policies, bills and other important papers, such as a will or health care directive? If you believe your parents will come to you someday for help, you’ll want to get this information on file now to help reduce stress later.

The bottom line

You can make your money count for today and work toward tomorrow. Your financial advisor has the tools to help you set up a strategy that can help you get where you want to be. Contact your Edward Jones financial advisor today.

Important information:

Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P., and in California, New Mexico and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C.