Child Free Financial Planning – The Risks and Rewards

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 23 June 2023

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week we interview Jay Zigmont CFP from Child Free Wealth. Jay clues us in on some shocking statistics about child free families. The child free financial planning challenges are very different.

Considering the younger generations are stating they less likely to have kids, this is an important topic.

Join us this week as we dive into the child free lifestyle and how families should think about planning for this lifestyle.

For more information, visit the show notes at https://moneytreepodcast.com/child-free-financial-planning-jay-zigmont

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Barbara Friedberg | Barbara Friedberg Personal Finance
Douglas Heagren | Pro College Planners

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Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.0	Stock market, wealth, personal finance, value stocks, invest in your life.
0:10.0	Hello, Smart Money Tree Podcasts listeners.
0:13.0	Welcome to this week's show.
0:14.0	My name is Kirk Chisholm and I'll be your host.
0:16.0	So today I'm joined with Jay Zygmont.
0:18.0	How you doing today, Jay?
0:19.0	Good. I'm a you.
0:20.0	Doing great. Well, I wanted to bring
0:21.8	Jay on. Jay has a really interesting niche and I haven't seen anyone else doing it. So I wanted to
0:26.3	bring Jay on to really kind of talk through it and I think is going to apply to large amount of people.
0:31.6	So it's really important to understand why his niche is different. So Jay, tell us a little bit about your background. Yeah, I'm kind of
0:38.5	one of those weird ones. I'm a second career coming to finance. I come out of health care and
0:42.2	academia, did a lot of coaching work. And then I got into the finance side and started to study to
0:48.6	become a CFP. And my wife and I are child free. And what I found is in the CFP literature, there's never once a mention of people being child-free. When I say child-free, I mean, people who don't have kids
0:58.4	and not playing on having it. So it's been kind of one of those things. My PhDs in adult learning,
1:03.0	I'm a bit of a researcher, went down the path researching this stuff, trying to figure out
1:07.6	what it's like. And my research questions are me and my wife weird?
1:14.7	And it turns out we're weird. We're both PhDs. We have our own weirdness in our life.
1:19.5	But we're not weird for being child free. It's just a community that's underserved, even though it makes up about 25% of the U.S. Wow, 25%. That's a big number. That's a larger than I would have
1:25.6	thought. Everybody says that. There was a study out of Michigan. They just did a repeat a couple weeks ago, came out.
1:31.4	They found just over 20% were child free essentially by choice, means they chose not to have kids.
	...

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