Planning For Your Children

Seeking to protect your loved ones now and down the road

As the old saying goes, tomorrow is promised to no one. While you never know what the next day will bring, it's always important to plan for the future. This is especially true once you start a family.

“The recent pandemic may have been part of the motivation, but I am seeing more and more people coming to me to get full written financial plans,” said Paul Kuhn, Financial Advisor with LPL Financial. Kuhn says that's the new financial trend he’s been seeing in his industry. And it’s something he’s happy to see.

“It’s not just about making as much money as possible, but I am helping people to really think about where their money is going to go,” said Kuhn. “‘Is it going to my kids’ college tuition? Is it going to my pets? What will happen when I die? How much will my children get?’ They plan for where they envision their money working for them from beyond the grave.”

While "end of life" is something most people don’t want to think about, let alone talk about, when it comes to planning for the future for their loved ones, Kuhn said it’s an important conversation for every family. He said the first two things every parent should look into early are getting life insurance and saving for their children’s education.

“One thing in investment is you can never guarantee anything,” said Kuhn. “From year to year, you do your best, but with a financial plan, we can say even if the market did this or that, over the long term, we are still addressing these goals way in the future.”

But getting to the future also means protecting your loved ones today, including right in your own home. David Chaddock, owner of DMC Systems LLC, knows this all too well, having served as a police officer for over a decade.

“I was with the North Las Vegas Police Department for 11 years and was on a burglary detail at one point. So, I've seen firsthand when and how these types of crimes occur, and I know the best ways to protect people from becoming victims,” said Chaddock.

That mission to protect his clients is now at the core of his Las Vegas-based business. Chaddock and his team serve residents all over the valley providing services from installing security alarms and cameras to entire home automation systems. Chaddock said for individuals with children, the focus on property awareness and personal safety takes priority. He said one of the best ways to keep your home safe is to have visual deterrents, along with a quality security and camera system that can assist law enforcement if a crime does happen.

“If you have a camera in your house, your alarm goes off when someone is in there who’s not supposed to be. Now you have everything you need to confirm a burglary is in progress, and the police will respond at that point. That visual evidence will give officers a lot more to work with when it comes to tracking down the suspects,” said Chaddock. “And that comes from my own experience as a police officer. We can do our work a lot better when we can see everything from what the suspects looked like when they left the house, which direction they went, and what vehicle they got into. It won’t be like trying to find a needle in a haystack.”

Chaddock said one of his most recent clients was actually a couple who are both also police officers.

“They definitely take their home security seriously. The husband and wife work different shifts, and there are times of the day when they need to ensure their kids are safe, at home, and doing what they are supposed to do!”

As parents, protecting your children and planning for their future are paramount. But according to financial advisor Paul Kuhn, who’s also a dad to a 15-year-old girl, it’s also as important to realize the value of your time as a family today.

“I may be different from a lot of people in my industry, but I actually encourage my clients to spend the money they have and do things with their family,” said Kuhn. “I tell them that you can certainly enjoy it if you have worked hard and made sacrifices. If you have enough money tucked away, quit pinching pennies, and go live while you can.”

Disclosure: Paul Kuhn is a Registered Representative with, and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC. Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

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