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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ADVICE

Use Planning As Permission To Spend

Get a trusted professional to monitor your plan so you can spend without fear and stay within safe guardrails.
Use that oversight as permission to spend on houses, trips, or family time while maintaining long-term security.

INSIGHT

All-Time Highs Are Not A Sell Signal

Hitting new all-time highs is historically bullish; Dimensional data shows about a 14% average one-year forward return after a new high.
Adam emphasizes long-term upward trend of stocks despite short-term scary headlines.

ADVICE

Dollar Cost Average To Reduce Timing Stress

If you're nervous about deploying cash after volatility, use dollar cost averaging to stagger investments over months.
This reduces timing anxiety and leaves cash to buy dips while still participating if markets rise.

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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.