Most mainstream tax advice runs on autopilot, and the autopilot assumes you're married with kids, funding a 529, and leaving an inheritance behind. When none of that describes your life, following it can cost you a fortune. Dr. Jay Zigmont, CFP® and Scott Barnes, CFP®, TPCP®, CLTC start from a blunter premise: the tax code is built to reward having children, so Childfree people are never going to get those breaks, and the smarter move is to design your own. The throughline is the opposite of chasing a lower bill this year. It's using taxes as one more tool to fund the life you actually want, paying the IRS what's owed without leaving a tip, and knowing when the strategy some influencer swears by simply doesn't fit a life without kids.
In This Episode, You'll Learn:
- Why the tax system is intentionally pronatalist, how that shapes everything from the child tax credit to head-of-household status, and why designing your own tax breaks matters when the built-in ones were never meant for you
- Why the popular "become a landlord for passive income" advice often breaks down for Childfree people once you factor in the lost step-up in basis, and how a charitable remainder unitrust can turn an appreciated property into lifetime income plus a charitable benefit
- How to think through the pre-tax versus Roth 401(k) decision, why your tax bracket, your state's income tax, your student loans, and any dream of moving abroad all change the answer
- Why the Roth conversion and backdoor Roth strategies the financial press pushes every November are so easy to get wrong, and when the paperwork simply isn't worth it
- Why paying zero tax in a given year is not always the win it looks like, how donor-advised funds let you time your giving for maximum benefit, and why coordinating a CFP® professional and a CPA protects you over a lifetime rather than a single April
Resources Mentioned in this Episode:
Early Retirement Tax Planning with Cody Garrett, CFP®, Ep 166: : https://childfreeinsights.com/resources/podcast/episode-166
Get Dr. Jay's book "The Childfree Guide to Life and Money" here: https://childfreewealth.com/childfree-guide/
Learn more about Childfree Wealth: www.childfreewealth.com
Learn more about Childfree Trust: https://www.childfreetrust.com
Episode Hosts:
Dr. Jay Zigmont, CFP® is the Founder of Childfree Wealth®, a life and financial planning firm dedicated to helping Childfree and permanently Childless people, and Childfree Trust®, the first of its kind next of kin representation service for Childfree people. He is also the author of The Childfree Guide to Life and Money.
Scott Barnes, CFP®, TPCP®, CLTC is an Associate Advisor at Childfree Wealth® and the go-to expert for long-term care strategies and tax planning questions.
About Childfree Insights:
Childfree Insights is a trusted resource for life planning without children. It explores financial planning, estate planning, relationships, and long-term decisions for adults building a future without kids. Home of Childfree Wealth® and Childfree Trust®.
Connect with Us:
Ready to work on building better financial habits? Connect with our financial planning team at childfreewealth.com or learn more about estate planning at childfreetrust.com.
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Disclaimer: This podcast is for educational & entertainment purposes. Please consult your advisor before implementing any ideas heard on this podcast.
