477. Rethinking Financial Planning for the Child-Free Investor with Jay Zigmont

 

What if the traditional financial planning advice you've been following doesn't align with your child-free lifestyle and goals?

 

In this eye-opening episode, Suja Shyam sits down with Jay Zigmont, a certified financial planner, MBA, PhD, and founder of Child Free Wealth. Jay sheds light on the often-overlooked financial planning needs of the child-free community, which makes up a significant 20-25% of the U.S. population. He challenges conventional wisdom and offers fresh perspectives on how child-free individuals can optimize their wealth-building strategies, enjoy their lives to the fullest, and plan for a future that doesn't revolve around leaving a large inheritance.

 

Jay Zigmont, PhD, MBA, CFP® is the Founder and CEO of Childfree Wealth®, a life and financial planning firm dedicated to helping Childfree and Permanently Childless people. Childfree Wealth is the first life and financial planning firm dedicated to serving Childfree people.

 

[00:00:00] - [00:03:14] Uncovering the Untapped Potential of Child-Free Financial Planning

 

• Jay's personal experience as a child-free individual and the lack of representation in financial education

• The significant percentage of the U.S. population that is child-free and underserved

• The importance of addressing the unique financial needs of child-free people

 

[00:03:15] - [00:09:00] Redefining Purpose and Meaning in a Child-Free Life

 

• Exploring the concept of "impact" and leaving a non-genetic legacy

• The child-free midlife crisis: navigating personal, professional, and financial goals

• Embracing the freedom to pursue passions and make unconventional life choices

 

[00:09:01] - [00:13:49] Optimizing Wealth-Building Strategies for the Child-Free

 

• Challenging the assumption that real estate investing is always the best option

• The flexibility and simplicity of investing in stocks, bonds, and equities

• The importance of understanding investments and aligning them with personal goals

 

[00:13:50] - [00:18:25] Mastering the Art of Spending and Dying with Zero

 

• The concept of "dying with zero" and its implications for financial planning

• Strategies for determining the optimal amount to spend and give during one's lifetime

• Overcoming the psychological hurdles of spending money and enjoying life

 

[00:18:26] - [00:27:22] Embracing the FILE (Financial Independence, Live Early) Mindset

 

• The limitations of the FIRE (Financial Independence, Retire Early) movement for child-free individuals

• The FILE approach: finding the right balance between work and leisure throughout life

• Adapting financial planning strategies to accommodate a FILE lifestyle

 

"Everything is either pre-kids, post-kids. And when I say child-free, I mean people who don't have kids and aren't planning on having them ever in their life." - Jay Zigmont

 

"We spend more time with our clients about spending money than saving money." - Jay Zigmont

Connect with Jay: 

 

Website: https://childfreewealth.com 

Free copy of the book "Portraits of Childfree Wealth":  https://childfreewealth.com/book

Podcast: https://childfreewealth.buzzsprout.com

 

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