My 2020 Masters Dissertation at Columbia University

What I learned from Grad School and why its still relevant to me today.

Summary from Your Nest Egg Thesis in 2020

The Financial Planning Gap

  • 75% of Americans do not have a professional financial advisor — that's 96 million households going without guided financial planning.

  • The median net worth of households under age 35 is just $11,100, yet many firms require $250,000 minimum to access digital advisory services.

  • 59% of Americans live paycheck to paycheck (Charles Schwab, 2019), with limited capacity to handle emergencies or plan for milestones.

Emergency Preparedness is Low

  • 40% of Americans cannot cover a $400 emergency expense (Federal Reserve, 2018).

  • The typical coping mechanisms include borrowing, skipping bills, or selling personal belongings.

Milestone Costs Are Rising

  • The average wedding can cost over $30,000, with 52% of couples delaying marriage due to financial concerns.

  • Raising a child in the U.S. costs $12,350–$13,900 per year, or $233,610 from birth to 17 (USDA, 2017)—excluding college.

  • Alternative family planning services like IVF or adoption introduce additional financial strain.

Women Are Key Financial Decision-Makers

  • Women often lead family financial decisions but have lower financial literacy rates than men.

  • Most financial tools are not designed with women's real-life planning needs (family, childcare, dual-income dynamics) in mind.

The Industry Isn’t Built for the Middle Class

  • Wealth advisors typically target high-net-worth individuals, leaving households earning <$60,000 underserved.

  • Self-education (via books or courses) is time-consuming and often ineffective: studies show financial literacy interventions explain only 0.1% of actual behavior change (Fernandes, Lynch, & Netemeyer, 2014).

Goal-Setting is the Missing Link

  • Psychology research (Locke, 1968) supports that specific goals increase motivation and follow-through.

  • Your Nest Egg uniquely combines goal-setting with actionable financial planning, making abstract milestones (like a wedding or baby) concrete and measurable.

Family financial planning is currently an information blackhole.

The key to financial wellness is literacy, but the missing factor is transparency: how much will life cost me?
— Your Nest Egg

Trump’s renewed tariff wars have contributed to higher consumer prices in 2025, putting added pressure on household budgets already strained by inflation and rising interest rates.


5 years later, what has the market taught us?

1. Cost of Living Has Outpaced Wage Growth

Even post-pandemic, wages haven’t kept up with inflation. From 2021 to 2023, consumer prices in the U.S. rose over 13%, yet real wage growth stagnated. Essential costs—like housing, childcare, and groceries—have surged, putting even more pressure on young and middle-income households to plan proactively.

2. Millennials and Gen Z Are Delaying Major Life Milestones

According to recent surveys (e.g. Bank of America, 2024), over 60% of Gen Z and Millennials are delaying buying a home, having children, or getting married due to financial insecurity. This directly reflects your thesis insight: financial planning isn’t optional—it’s a survival tool.

3. Emergency Fund Shortfalls Still Persist

As of 2024, nearly one in three Americans still have no emergency savings (Bankrate, 2024). The Federal Reserve’s $400 emergency stat remains a chilling benchmark, reaffirming that families are still financially fragile—and planning tools like Your Nest Egg are more essential than ever.

4. Rising Interest Rates = Higher Debt Burdens

Since 2022, the Federal Reserve’s aggressive rate hikes have made credit card debt and loans more expensive. U.S. credit card balances hit a record $1.13 trillion in early 2024 (New York Fed). For families, this makes unplanned expenses more dangerous and savings plans more urgent.

5. Housing Affordability Has Hit Crisis Levels

The average down payment for a home has become unreachable for many younger buyers. In cities like New York, San Francisco, and even mid-tier cities like Austin or Charlotte, home prices have grown 30–50% since 2020, widening the planning gap between aspiration and affordability.

6. Digital Advice Is Still Biased Toward the Wealthy

Robo-advisors have scaled—but they continue to focus on investing, not comprehensive financial planning. Platforms still require high minimums or fail to personalize for real-world life milestones, just as you pointed out in your thesis.

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