Empowering Child-Free Wealth with Dr. Jay Zigmont
“We're saying, all right, how about you go follow your dreams. How about you quit that job you hate, even though you're going to make less money at another job. Go make the change. It is very rewarding. It is also very hard, because the standard of mental models fight against it.”
In this episode of Healthy Love and Money, our host Ed Coambs welcomes Dr. Jay Zigmont of Childfree Wealth. Jay shares his fascinating journey from healthcare and academia into the world of financial planning, specifically catering to the unique needs of childfree individuals. Ed and Jay explore how traditional financial advice often overlooks this significant portion of the population and discuss the importance of reprogramming financial strategies to align with a childfree lifestyle.
Ed and Jay highlight the concept of the "life script" and the importance of helping clients design their lives first, then aligning their finances to support those personal goals. This conversation emphasizes prioritizing meaningful life experiences over traditional financial goals that may not resonate with childfree individuals.
They also explore the critical aspects of long-term care planning for childfree individuals, the importance of having power of attorney and a will, and the significant financial impact of being single. This episode is packed with valuable information for anyone interested in understanding the unique financial planning needs of the childfree community and encourages listeners to reflect on their own financial and life decisions.
Key Topics:
- Welcome, Dr. Jay Zigmont! (01:45)
- Financial Planning for Childfree Individuals, Challenges, and Reprogramming Standard Models (02:33)
- Alternative Family Structures and Societal Pressures to Conform to the Traditional Life Script (08:13)
- Personalized Financial Planning for Childfree Individuals and Couples (12:53)
- Community Building for Childfree People (14:58)
- Common Mistakes and Challenges in Financial Planning for Childfree People (19:07)
- Long-term Care Planning for Childfree People (29:33)
- Wrap-Up and Jay’s Parting Advice (35:48)
Resources:
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