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Permission to Spend: Die with Zero, Dollar Cost Averaging, and 529 vs. UTMA Planning
Should you spend more or save more? And what's the best way to fund your grandchildren's education?
In episode 4 of Long Story Short, Andy Pratt and Adam Newman tackle the financial advice that seems to contradict itself. From "stop buying Starbucks" to "die with zero," they explore how to find the right balance for your situation.
Plus, they break down the practical differences between 529 plans and UTMA accounts for education funding, including the pros and cons of each approach.
We cover:
- Why most financial advice swings between extreme frugality and experiential spending
- The psychology behind "die with zero" and when it makes sense
- How to invest cash after missing the market bottom
- Why dollar cost averaging helps with market timing anxiety
- UTMA accounts vs. 529 plans: Which is right for your family
- The five-year gifting strategy for 529 accounts
⏱️ Timestamps:
- (0:30) Adam's Starbucks barista days and coffee philosophy
- (2:30) The tension between saving and spending advice
- (3:30) "Die with Zero" and investing in memories
- (7:55) When spending becomes psychologically difficult
- (12:50) Markets hit new all-time highs: Should you worry?
- (17:00) The psychology of investing at market peaks
- (20:40) Dollar cost averaging for nervous investors
- (29:10) UTMA vs 529 accounts: Education funding strategies
- (39:10) The five-year 529 gifting rule explained
- (41:20) When 529 overfunding becomes a problem
#WealthManagement #EducationPlanning #InvestmentStrategy #RetirementPlanning
Resources:
Follow Burney Wealth Management on LinkedIn
Follow Adam Newman on Linkedin
Follow Andy Pratt on LinkedIn
The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.
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By Burney Wealth ManagementShould you spend more or save more? And what's the best way to fund your grandchildren's education?
In episode 4 of Long Story Short, Andy Pratt and Adam Newman tackle the financial advice that seems to contradict itself. From "stop buying Starbucks" to "die with zero," they explore how to find the right balance for your situation.
Plus, they break down the practical differences between 529 plans and UTMA accounts for education funding, including the pros and cons of each approach.
We cover:
- Why most financial advice swings between extreme frugality and experiential spending
- The psychology behind "die with zero" and when it makes sense
- How to invest cash after missing the market bottom
- Why dollar cost averaging helps with market timing anxiety
- UTMA accounts vs. 529 plans: Which is right for your family
- The five-year gifting strategy for 529 accounts
⏱️ Timestamps:
- (0:30) Adam's Starbucks barista days and coffee philosophy
- (2:30) The tension between saving and spending advice
- (3:30) "Die with Zero" and investing in memories
- (7:55) When spending becomes psychologically difficult
- (12:50) Markets hit new all-time highs: Should you worry?
- (17:00) The psychology of investing at market peaks
- (20:40) Dollar cost averaging for nervous investors
- (29:10) UTMA vs 529 accounts: Education funding strategies
- (39:10) The five-year 529 gifting rule explained
- (41:20) When 529 overfunding becomes a problem
#WealthManagement #EducationPlanning #InvestmentStrategy #RetirementPlanning
Resources:
Follow Burney Wealth Management on LinkedIn
Follow Adam Newman on Linkedin
Follow Andy Pratt on LinkedIn
The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.