Should you open a 529 before your child is born? A Wall Street Journal piece about a retirement researcher who won't fund 529s for his own kids got Adam and Andy talking about a debate that comes up often with clients. Two brothers, similar incomes, completely opposite approaches. They walk through the real trade-offs and why the most important question has nothing to do with which account you pick.

From there, the conversation turns to concentrated stock positions. When a single stock has grown into a huge chunk of a portfolio, most people know they have a problem but don't want to deal with the tax bill. Adam and Andy cover three strategies that come up regularly in those conversations, including the real costs and limits each one carries.

They close with something clients have been asking about. Burney has been building individual stock models since 1974 and actually experimented with neural network technology in the late 1990s. Andy shares what that early attempt revealed, and what separates a genuinely useful AI application from what he calls ”AI washing.”

⏱️ Timestamps:

(00:43) Intro: funding a 529 before your child is born

(02:09) The Wall Street Journal 529 debate: two brothers, two opposing views

(06:03) Where most families land on college savings

(07:53) Recent changes to 529s: K-12, trade school, and the Roth IRA rollover

(09:02) The key quote: what actually matters most

(10:13) Concentrated stock positions and the $40M Nvidia example

(12:09) First question to ask before any tax strategy

(15:11) Tax-aware long/short, 351 exchange, and exchange funds

(22:00) When simpler is smarter

(23:54) Gifting appreciated stock to family or charity

(24:37) Burney's history with AI and neural networks

(28:25) What makes an AI application in investing actually work

(32:22) Wrap-up

(33:14) Podcast disclosures

Resources:

Long Story Short website | burneywealth.com/podcast

Follow Burney Wealth Management on LinkedIn | www.linkedin.com/company/burneywealthmanagement

Follow Adam Newman on Linkedin | www.linkedin.com/in/adam-newman-cfa-cfp%C2%AE-mst-ricp%C2%AE-cepa-48853916/

Follow Andy Pratt on LinkedIn | www.linkedin.com/in/andyjpratt/

The Wall Street Journal Article: The Financial Planning Expert Who’s Boycotting 529s for His Kids | https://www.wsj.com/personal-finance/the-financial-planning-expert-whos-boycotting-529s-for-his-kids-6c3e32fc

Have questions you want answered on the podcast? Email [email protected]

#529s #CollegeSavings #TaxPlanning #ConcentratedStock #WealthManagement #Investing

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. This content is for informational and educational purposes only. It is not intended as personalized investment advice or a recommendation.