Feb 28, 2024
In this episode of "Do More With Your Money," host T.J. van Gerven interviews Jay Zigmont, PhD, CFP®, founder of Childfree Wealth. Jay, a financial planner specializing in advising childfree individuals, discusses the lack of financial planning services tailored to the 20-25% of the U.S. population not planning to have children. He highlights the unique financial planning challenges and opportunities for childfree people, such as the flexibility to live differently from the standard life script and the potential to focus on personal joy rather than traditional retirement. Jay also introduces the concept of "Financial Independence, Live Early" (FILE), a twist on the FIRE movement, emphasizing living a fulfilling life over merely retiring early. The conversation covers the importance of planning for long-term care, decision-making in the absence of next of kin, and the societal shift towards accepting childfree choices. Jay advocates for a financial plan that allows individuals to pursue careers and lifestyles that bring happiness, even if it means earning less.