SUMMARY
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Dr. Jay Zigmont is a PhD, CFP and the Founder of Childfree Wealth. He is a fee-only, advice- only fiduciary and the author of The Portraits of Childfree Wealth . Most financial advice treats parenthood as the default. Dr. Jay has built a financial planning system that caters to the unique needs of those whose futures don’t include kids.

Today, Jay joins the show to talk about why having children has become a default scenario in financial planning. He details the differences in financial planning between those who choose to have kids and those who choose to be childfree, and gives advice on how to build the life you want and then have the finances fit it.

TAKEAWAYS
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00:58 – Jonathan introduces today’s guest, Jay Zigmont, who joins the show to talk about an early lesson that became integral to his money story and why he chose to focus on helping a unique demographic
10:01 – Jay shares the story of how he made his first million and lost it before he turned twenty-five
13:37 – Improving your money mindset
14:40 – From Adult Learning to Financial Coaching
16:21 – A systematic bias in the financial services industry
21:34 – Childless and Childfree demographics and statistics
26:31 – Key differences between planning for a life with kids and planning for a life without kids
32:08 – Long-term care
36:14 – One thing that a childfree person should do to lead to greater personal and financial success and one thing to avoid doing
37:38 – The last thing Jay changed his mind about and the thing in Jay’s life that he is most grateful for
39:31 – Jonathan thanks Jay for joining the show and lets listeners know where to connect with him

QUOTES
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“The hard part is that when you run your own company, you work for a crazy person, which is yourself.” (07:24) (Jay)

“The childfree demographic is an underrepresented minority group that people aren’t talking about. And when they are talking about them, they’re judging them.” (08:19) (Jay)

“Money doesn’t buy happiness. You don’t know that until you actually have money. I was living in Connecticut, commuting three hours both ways to New York City until I could afford an apartment. I had no money. I was busting my butt. But you learn that, ‘Ok, it’s easy to make money. How do you manage it? How do you grow it? How do you keep it?’ That’s a different question.” (10:55) (Jay)

ABOUT MINDFUL MONEY
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Do you struggle with money? You’re not alone.
Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive.
The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort.
Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life.
If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you.
Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes.

GUEST RESOURCES
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Childfree Wealth Website: https://childfreewealth.com/
Childfree Wealth Podcast: https://open.spotify.com/show/7yC4VzL0yGt757vhXZZQX4
Childfree Wealth YouTube Channel: https://www.youtube.com/channel/UC5cl-dxgWlLk6HwDKwfs0jA
Childfree Wealth Facebook: https://www.facebook.com/ChildfreeWealth
Childfree Wealth Instagram: https://www.instagram.com/childfreewealth/
Childfree Wealth LinkedIn: https://www.linkedin.com/company/childfree-wealth/
Jay’s LinkedIn: https://www.linkedin.com/in/jayzigmont/
Jay’s Book: https://www.amazon.com/Portraits-Childfree-Wealth-Jay-Zigmont/dp/1945050020/ref=asc_df_1945050020/
Books Mentioned:
Die with Zero: https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358567092/ref=asc_df_0358567092/

MINDFUL MONEY RESOURCES
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Monthly Coaching Membership: https://courses.mindful.money/mindful-money-membership
Jonathan’s Book – https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
Website - https://mindful.money/
Jonathan DeYoe on LinkedIn - http://linkedin.com/in/jonathandeyoe
Mindful Money on Twitter - https://twitter.com/MindfulMoney_Ed
Mindful Money on Facebook - http://facebook.com/MindfulMoneyPlan
Mindful Money on Instagram - http://instagram.com/mindfulmoneyplan
Mindful Money on YouTube - https://www.youtube.com/c/MindfulMoney🎙️
Podcast Production by FullCast: https://fullcast.co/sn