Permission to Spend: Die with Zero, Dollar Cost Averaging, and 529 vs. UTMA Planning

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Long Story Short

Burney Wealth Management

21 episodes

1 week ago

Long Story Short is a weekly financial planning and investing podcast from Burney Wealth Management. Each week, your hosts Andy Pratt, CFA, CAIA and Adam Newman, CFA, CFP®, discuss the biggest questions they’re hearing from clients. They’ll occasionally bring in team members and interesting guests to discuss specialized topics like estate planning, business succession, and retirement income strategies. Founded in 1974, The Burney Company is a fee-only investment advisory firm that manages $3 billion in assets. Learn more about comprehensive financial planning at burneywealth.com.

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Permission to Spend: Die with Zero, Dollar Cost Averaging, and 529 vs. UTMA Planning

Long Story Short

46 minutes 8 seconds

3 months ago

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:

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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.