Breaking the stigma around prenups

I do. Used to be seen as planning for divorce, but now that stigma is changing. Many millennials and Gen Zers view it as a smart financial planning tool. We have CEO and co-founder of HelloPrenup joining us now, Ms. Julia Rogers. Julia, thank you so much for coming on. Thank you for having me today. Well, so why are we seeing more, I guess, younger couples moving towards this option more? Sure, I think there are a couple reasons. First and foremost, I mean, 40 years ago, Americans married in their early to mid 20s. That's not the case anymore. Couples are marrying closer to 30. So they're often bringing careers, homes, assets, maybe student loans into the marriage. And then, I mean, think about the assets and debt that they're bringing in at that age. Gen Z isn't walking down the aisle empty handed. They're bringing these careers, maybe potential inheritance. The average debt of student loan debt is about $30,000. So even Mr. Beast, the biggest YouTuber in the world and a Gen Zer himself made headlines this summer when he got married and reported the details of his prenup. And then I also think Gen Zs have witnessed the financial fallout of their parents' divorces. They view prenups as financial planning, not a prediction of divorce. Winnie, you've mentioned the economy just being tough for everybody now, so people want to plan smartly. Even creating financial fairness if one spouse has to leave work for any reason, and then also maybe they want to leave to have children. You want to make sure you have something else to get through those times. Absolutely, and this generation is learning from the people who came before them, right? They're reading Bell Burden's memoir, Strangers. They're watching the Secret Lives of Mormon Wives and they're seeing those divorces in real time. And they wanna make sure they're not financially vulnerable. I wanna be clear, staying home with your kids is a wonderful choice. The problem isn't the choice, it's making it without a plan. And so I think Gen Z see that if one person is is giving up their income. Both of them should have access to money, maybe retirement savings in their own names. A prenup can really protect that. And again, a lot of Gen Zs, they don't assume that the system is going to solve everything for them. The US has no paid national family leave. Childcare costs as much as rent. So instead of waiting for Washington to fix this, they're really building these protections themselves and effectively privatizing what the government does not provide for them. I mean, we've reported recently that the average age of a first-time homeowner is now 40. So that reflects so many of the things you just mentioned here. I think it also boils down to communication. So how can you have that transparent conversation about money before marriage? How do you do that in a way that works for both parties? Sure. I think first and foremost, you got to be vulnerable. Have it early, right? Make sure that you are talking about the why you want to prenup. Maybe your parents got divorced. Maybe your best friend got divorced. Maybe you're getting married later and you own a business. Maybe one of you wants to stay home with the kids. You want to make sure you're financially supported. And so really getting down to the nitty gritty and the why is key. And then I think have the the conversation earlier than later, right? Don't have this. Prenup conversation a month before your wedding. Start talking about it, maybe right when you get engaged. Ideally, even before you get engaged, you agree to a prenup. All right. It's good to at least talk it out so no one's surprised, right? But definitely have the conversation. It's better to have it than not. Julia, thank you so much for this. Very insightful, at least when it comes to Gen Z and millennials turning that stigma around. We appreciate it. All right, Steve, over to you.