Childfree Life and Financial Planning
Guest Expert: Jay Zigmont, PhD, MBA, CFP®, Childfree Wealth®
Date:
Webinar Replay Description
Approximately 25% of the US is Childfree or Permanently Childless and that number is growing. Childfree is defined as people who don't have children and never will have children. The challenge is that nearly all financial planning assumes you either have kids, or will have kids. Childfree people have unique considerations for their life, financial and estate plans that go well beyond just removing kids from the picture.
In this webinar financial planner Jay Zigmont, who specializes in Childfree Planning, addressed these topics:
- Who are Childfree people? Everything starts with understanding this growing demographic, including what to do and what to not do with Childfree people.
- How does being Childfree impact life? Living a life of Childfree Wealth means you have time, money, and freedom to do what you enjoy. It can be almost too much freedom at some times, and means their financial plan constantly changes.
- How does being Childfree impact finances? Childfree people often embrace the concepts of FILE (Financial Independence, Live Early) and Die With Zero. What happens to your financial plan when retirement and passing on money is not the goal?
- What about estate planning for Childfree people? Estate planning can be a challenge without a next of kin. How can you build a system that supports Childfree people and embraces Die With Zero?
Comments
A few comments from listeners when they were asked what the learned from the webinar:
Planning for Childless is different than Planning for people who have kids. The concept of dying with "0".
- Ed R.
Very interesting points were raised. I never knew how difficult people were towards individuals that do not have children.
- Dawn D.
Reinforced the sensitivity around the conversations with childfree clients. Ideas on "spending" money. Some things don't matter (i.e. step up in basis, charitable deductions, etc.) at death. Different conversation entirely.
- Cindy B.
Things to think about for my childfree clients, especially the plans for caring for their parent and their own long term care
- Jeff B.
This course addressed many issues that I have been giving some thought to. The term "child free" was one of the great take-aways from the presentation.
- Mark Z.
Planning for Childless is different than Planning for people who have kids. The concept of dying with "0".
- Ed R.
Very interesting points were raised. I never knew how difficult people were towards individuals that do not have children.
- Dawn D.
Reinforced the sensitivity around the conversations with childfree clients. Ideas on "spending" money. Some things don't matter (i.e. step up in basis, charitable deductions, etc.) at death. Different conversation entirely.
- Cindy B.
Things to think about for my childfree clients, especially the plans for caring for their parent and their own long term care
- Jeff B.
This course addressed many issues that I have been giving some thought to. The term "child free" was one of the great take-aways from the presentation.
- Mark Z.
Childfree Life and Financial Planning 11-13-2024
Attendees Comments:
Planning for Childless is different than Planning for people who have kids. The concept of dying with "0".
- Ed R.
Very interesting points were raised. I never knew how difficult people were towards individuals that do not have children.
- Dawn D.
Reinforced the sensitivity around the conversations with childfree clients. Ideas on "spending" money. Some things don't matter (i.e. step up in basis, charitable deductions, etc.) at death. Different conversation entirely.
- Cindy B.
Things to think about for my childfree clients, especially the plans for caring for their parent and their own long term care
- Jeff B.
This course addressed many issues that I have been giving some thought to. The term "child free" was one of the great take-aways from the presentation.
- Mark Z.