Renting, Buying and Vacation Homes | Dr. Jay Zigmont CFP® & Fiona Waller, MSW, LCSW, CFP®

Buying a home has been sold as the responsible, obvious next step for so long that most people have never actually stopped to ask whether it fits their life. Dr. Jay Zigmont CFP® owned homes from age 21 to 45 and now rents. Fiona Waller CFP® works with clients who have spent years in properties they quietly resented. In this episode, they take apart the financial math, the family voices, the passive income myth, and the real cost of owning a vacation home to help Childfree adults make housing decisions based on what they actually want rather than what they have been told to want.In This Episode, You'll Learn:Why the stock market returning seven to ten percent annually makes a stronger financial case than a mortgage at six percent interest on a home appreciating three to five percent per year.How to tell whether you should buy or rent based on your life first and your finances second, and why being unable to say where you will be in three years is the only answer you needWhy rent is the most you will pay each month while a mortgage is the least, and what that difference means for a Childfree adult who values flexibility and simplicityWhy rental properties are not passive income, what the 1031 exchange strategy assumes about passing wealth to children, and why that assumption does not work for Childfree peopleWhy vacation homes are the worst of all worlds for Childfree adults, and why renting wherever you want to go beats owning a property you have to manage from a distanceResources Mentioned:What if your Parents Run out of Money | Dr. Jay Zigmont, CFP® & Bri Conn, CFP®https://childfreeinsights.com/resources/podcast/episode-136/ Inheriting Parent Care Responsibility | Dr. Jay Zigmont, CFP® & Bri Conn, CFP®https://childfreeinsights.com/resources/podcast/episode-137/ Episode Hosts:Dr. Jay Zigmont, PhD, MBA, CFP® is the Founder of Childfree Wealth®, a life and financial planning firm dedicated to helping Childfree and Permanently Childless people, and Childfree Trust®. He is also the author of The Childfree Guide to Life and Money.Fiona Waller, MSW, LCSW, CFP® is a Childfree Wealth Specialist® at Childfree Wealth®. She brings a unique perspective as a former therapist, focusing on the intersection of mental health and money using a trauma-informed background to help clients align their financial and life plans with their values.About Childfree Insights:Childfree Insights delivers education for financial and estate planning without children. It supports people with no kids in making informed decisions about retirement, legacy planning, beneficiaries, and long-term care. 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.Follow Childfree Life by Design on your favorite podcast platform and join the conversation on social media:Instagram: https://www.instagram.com/childfreeinsightsFacebook: https://www.facebook.com/ChildfreeInsights/LinkedIn: https://www.linkedin.com/company/childfreeinsightsYouTube: https://www.youtube.com/@ChildfreeInsightsDisclaimer: This podcast is for educational & entertainment purposes. Please consult your advisor before implementing any ideas heard on this podcast.