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New parents have more than money to consider
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If you’ve just had a new baby, your life is filled with more joy (but less sleep). You’re probably already aware of the time and effort you must invest in raising your child, but you may not have thought as much about another aspect — the financial one.
Consider this: The average cost of raising a child to age 17 is now $222,360, according to a U.S. Department of Agriculture report on how much middle-income, two-parent families spend on their offspring. And this is the amount you might spend before your son or daughter heads to college. Clearly, you need to start making the financial moves necessary to take your child from diapers to a degree. Here are some suggestions for doing just that:
• Purchase sufficient life insurance. When it was just you and your spouse, it was a good idea for you to have life insurance — but now that you have a child, it’s an absolute necessity. If you have any doubts about the value of life insurance, just look again at that $222,360 figure above, and then tack on the costs of four years of college. If you or your spouse were to die unexpectedly, would the survivor earn enough to raise and educate your child? In this day and age, that’s not likely — so make sure you have adequate life insurance in place.
• Prepare a will. Obviously, you hope to enjoy a long life — one in which you see your child grow to adulthood. But none of us can predict the future, so it’s essential that you draw up a will to provide for the care of your child, both financially and physically. When you create a will, you can name a guardian to step in and take care of your child, if necessary, and you can make sure your child receives your financial assets. However, many people go beyond writing a will and establish a living trust, which gives them more control over how and when they want their assets distributed. Your legal advisor can help you prepare a will and determine if a living trust is appropriate for your needs.
• Maintain adequate cash. To help pay for all those expenses related to child rearing, keep enough cash on hand. By having enough resources available in liquid accounts, you can avoid having to dip into your long-term investments to pay for short-term needs.
• Save early and often for college. It’s never too soon to start saving for the high costs of higher education. A 529 plan is a tax-advantaged vehicle and may be a great option for your college savings.  Contributions to a 529 plan are made with after-tax dollars, and have the opportunity to grow tax-free. Withdrawals used for qualified higher education expenses are also tax free. Furthermore, your 529 plan contributions may be eligible for a state tax deduction or credit depending on the plan and state. 
• Stay balanced. As we’ve seen, it takes a lot of money to raise a child. But even as you’re meeting these expenses, think about your own future, particularly your retirement. Strive to strike a balance between the money you spend on your child and the amount you invest in your 401(k), IRA and other retirement-savings vehicles.
You can’t put a price tag on your child’s future, but when it comes to taking care of that child, you’ll want to know the costs involved — and be prepared for them.

Cardella is a financial advisor for Edwards Jones, which provided this column, in Hinesville.

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GPA grows trade, market share
Intermodal volume up 20 percent
port photo
Rubber tired gantry cranes handle cargo at the Chatham Intermodal Container Transfer Facility at the Port of Savannah. The Georgia Ports Authority's Mason Mega Rail project will double rail lift capacity to 1 million containers per year by 2020 - photo by Provided

The Georgia Ports Authority achieved 14 percent growth in March container volumes, moving 355,208 20-foot equivalent unit (TEU) containers.

From July 2017 to March, TEU container trade grew by 9 percent, or 255,786 additional units for a total of 3.08 million, a new record for Savannah.

"Savannah's continued strength is a reflection of our customers' commitment, Georgia's leadership, and the many dedicated service providers, GPA employees and ILA members who come together every day to achieve great things," said GPA Executive Director Griff Lynch. "March marked our 17th consecutive month of business expansion thanks, in part, to a strong economy and growing market share."

Intermodal rail volumes jumped by 20 percent in March and 15.4 percent for the fiscal year to date, for a total of 318,454 containers handled over nine months – another record for the GPA.

"As the numbers show, our rail cargo is growing at a faster pace than our overall trade," GPA Chairman Jimmy Allgood said. "This is important because rail is playing a key role in our responsible growth strategy. We anticipate our rail infrastructure investments to take 250,000 trucks off the road each year by 2020."

The GPA recently broke ground on its Mason Mega Rail Terminal, on which the Port of Savannah will build 10,000-foot unit trains within its own footprint. From the expanded rail infrastructure at Garden City Terminal, Class I rail providers CSX and Norfolk Southern will provide direct rail service to major Southeast and Midwestern markets from Memphis to St. Louis, Chicago to Cincinnati.

An added benefit is that the Mason Mega Rail project will move all rail switching on terminal – improving vehicle traffic flow around the port.

In August, the GPA will open its Appalachian Regional Port in Murray County. Located in an industrial belt, including the production and export of carpet and flooring, automobiles and tires, the ARP will provide an alternative to all-truck transit to Northwest Georgia.

Each round-trip container moved via the Appalachian Regional Port will offset 710 truck miles on Georgia highways.

March was also a strong month for roll-on/roll-off auto and machinery units at the Port of Brunswick and Ocean Terminal in Savannah. Colonel's Island Terminal in Brunswick handled 66,144 cars, trucks and tractors, while Ocean Terminal added 4,050, for a total 70,194, a 17.2 percent increase.

"The global economy is thriving and our volumes are following suit," Lynch said. "As existing accounts grow their footprint in the expanding auto facility in Brunswick, Georgia's competitive logistical advantages are drawing additional business across all of our docks."

Lynch noted that for the fiscal year to date, Mayor's Point breakbulk terminal in Brunswick grew by 44 percent (34,515 tons) to reach 112,728 tons of forest products. At East River Terminal, bulk cargo expanded by 34 percent July-March (189,918 tons) for a total of 750,384 tons.

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