Long Story Short Permission to Spend: Die with Zero, Dollar Cost Averaging, and 529 vs. UTMA Planning
Jul 22, 2025
Dive into the intriguing dance between spending and saving as hosts dissect financial advice that often clashes. They explore the 'Die with Zero' philosophy, urging listeners to invest in memorable experiences rather than hoarding wealth. A fascinating discussion unfolds on the psychology of investing at market highs and the benefits of dollar cost averaging for anxious investors. The episode wraps up by comparing education funding strategies, weighing the pros and cons of UTMA accounts versus 529 plans, all while encouraging proactive financial planning.
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Barista Days Shaped Coffee Habits
- Adam Newman worked as a Starbucks barista in a grocery-store location and learned to dislike complicated orders.
- That experience made him prefer simple black coffee or occasional special-occasion drinks.
Invest In Memories, Not Only Accounts
- Bill Perkins' Die With Zero argues people often over-accumulate and miss experiences that yield "memory dividends."
- Adam Newman says planning can show many clients will reach old age with money left over, supporting more spending on experiences now.
Psychology Blocks Spending Even When Safe
- People often keep money they won't need because spending feels psychologically difficult despite acknowledging over-accumulation.
- Advisors must balance guardrails and encouragement to help clients spend on meaningful experiences without jeopardizing security.
