Jay Zigmont

speaker

296 appearances 1 recordings 1 series first heard Feb 2025 last heard Feb 2025

Jay Zigmont’s voice in public audio — every appearance, attributed to the second.

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Wealthy After 40: Retirement Planning and Budgeting for Gen X · Ep | 105 Childfree Wealth Financial Planning with Jay Zigmont · 28 Feb 2025 podcast

If they have that diagnosis, you might not even be able to get coverage.

So just food for thought.

Now, when it comes to kind of like, what do we point?

So here's some numbers for you.

In the US, about 58% of the US do not have an estate plan.

So the estate plan is the will, medical power attorney, financial power attorney, trust if you need it.

And that's an issue.

Because what happens is, as a child-free person, if you don't have the paperwork in place, they're kind of lost.

In theory, some states will find your parents to make decisions, but let's be real.

That's going the wrong direction.

You know, the likelihood of your parents are going to be there for you to make the decisions are very low.

So you have to have it.

So what I do with my clients is even in their 20s, we will get that paperwork in place where it will lay out what are their wishes, medical, financial, will, and who's responsible for it.

The issue of who's responsible is a big one because it turns out in the U.S., about 25% of people are disenfranchised from their family.

So that's actually, I don't know if that's a higher or lower number than I expected.

Like when I first found out, I'm like, yeah, sounds right-ish.

But then if you look at like a lot of the child-free community are LGBTQ+, well, that community is a much higher percentage disenfranchised from the family.

The other stat is about 20% of people in the US, even if they're not disenfranchised, don't live anywhere near their family.

So you're talking huge, huge numbers that don't have somebody to do it.

And I've been working on this for three years to try to find solutions and really could not find anything.

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