With thoughts of the day swirling around in your head, even the best bedding can’t help you get some rest. Here are 3 things that have been keeping me up at night and what I’ve done to get them off my mind and back to sleeping well.  

1) Saving Enough for Retirement

Apparently, I’m not alone.  According to the 2014 Employee Benefit Research Institute (EBRI), 24% are not at all confident in their retirement savings, 37% of workers remain unsure if they save enough for a comfortable retirement (This is the category I’m in) and 18%  are confident in their retirement, which is up from 13% in 2013.

Even though I take advantage or a 401K matching and I contribute a decent percentage of my salary I still would get anxiety about if we were saving enough.  So instead of one more sleepless night, I did what any person that can’t sleep does, I googled a retirement calculator.  This retirement calculator was easy to use and provided a clear look at how our savings look and we are  on track.  (FFFEEEEWWW!)  I may just take it a step further and meet with a financial planner some day.

2) Saving enough for my children’s college tuition

I’ve been told to save for retirement  first and then save for your children’s education.  Kind of like putting your oxygen mask on before your children’s…  If you aren’t taken care of then who will take care of your kiddos.    –Well, thanks to the retirement calculator I seem to be on track for retirement (crossing fingers and watching the market) but we weren’t contributing enough to our boys’ 529 Plan , which offers pre-paid tuition plans and college savings plans. All fifty states and the District of Columbia sponsor at least one type of 529 plan. In addition, a group of private colleges and universities sponsor a pre-paid tuition plan.

Although the 529s are state-sponsored, you can invest in any of them regardless of where you live and many states offer a tax deduction for residents who use their state’s plan.  We did our research and started contributing a bit more to help with our children’s future and to ease my mind.

3) Estate Planning

This is a topic that can be difficult for some to talk about but it is very important no matter what your family wealth.  An estate plan allows you to express where your assets will go, who will take guardianship of your children (if minors)  and could help save on taxes that would need to be paid by those left behind.  In addition to a will/trust a living will is another important part of your estate planning process.   A living will will help specify what actions should be taken for your health if you’re no longer able to make decisions because of illness or incapacity.

My husband and I did a will before children and now that they are 3 and 4, I kept thinking about who would take care of them if something happened to us.  I needed to stop putting it off and actual redo them.   We contacted a friend of a friend that came highly recommended but there are resources to find someone in your area to assist you.   Oh, another suggestion that was given to me was Legal Zoom.  I can’t give it a personal recommendation but I hear good things about their services.   Well, no matter what you decide, I hope these tips  help you get a few things off your mind.

All the best,