Mindful Money

Jonathan DeYoe

Do you struggle with money? You’re not alone. Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive.  The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort. Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life. If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you.  Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes. read less
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Episodes

107: Victor Haghani - True Costs of Trading and Investment Biases
5d ago
107: Victor Haghani - True Costs of Trading and Investment Biases
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I speak with Victor Haghani, a Seasoned Financial Expert whose journey through the realms of high finance is nothing short of enlightening. Victor shares his rich history of Long-Term Capital Management. From his early days in New York and Iran to his pivotal roles at Salomon Brothers and finally to founding Elm Wealth. His insights into the evolution of his investment strategies, particularly his shift from high-stakes trading to a more sustainable, mindful approach to personal wealth management, are not just educational but deeply relatable. Victor's recent work, including his book "The Missing Billionaires," offers a fresh perspective on making sound financial decisions, which he discusses with a clarity that resonates well beyond the finance-savvy audience.The conversation dives into the practicalities of investing, the common pitfalls of financial decision-making, and the psychological aspects that often trip up even the most astute investors. Victor's approach to simplifying complex financial concepts and his emphasis on learning from past investment outcomes make this discussion a must-listen for anyone looking to navigate the often turbulent waters of personal finance. His personal anecdotes, combined with a straightforward breakdown of investment principles, provide a roadmap that encourages a more thoughtful, disciplined approach to managing money. Join us as we discuss actionable advice that promises to empower you to take control of your financial future with confidence and a newfound understanding.📺 Watch on YouTubehttps://youtu.be/jtRbUALvmcAKey Takeaways00:03:34: Early Lessons About Money00:07:50: Transition from LTCM to Personal Investing00:11:39: The Story of 120,000 Missing Billionaires00:15:14: Impact of Fees and Biases on Investment00:23:19: Discussion on Mindfulness in Investing00:32:23: Simplifying Investment Advice for ConsumersTweetable Quotes"You can't get return without taking risk, but you can have risk without getting return. Realizing that if somebody turns up and says, 'Here's a 20% investment return with virtually no risk,' you should know that that clock is broken. That's not the way that markets work.""Humility for markets and respect for markets are essential. Every time you pick a stock or own a portfolio that's not the market portfolio, there's somebody saying they have the opposite belief to you, and that person is likely smarter or more informed than you are.""The recent past is not a guide to what's going to happen in the future. Return chasing, thinking that what has been hot will continue to be hot, often leads to poor investment decisions. It's important to look forward and not just rely on what has happened."Guest ResourcesWebsite -
106: Jason Feifer - Moving From Fear to Opportunity and Turning Challenges Into Success
May 8 2024
106: Jason Feifer - Moving From Fear to Opportunity and Turning Challenges Into Success
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I speak with Jason Feifer, the Editor-in-Chief of Entrepreneur magazine. We discuss the constant evolution of technology and its impact on society, a theme Jason explores deeply through his professional and personal experiences. Jason shared insights on how historical technological advancements, like the telegraph, were perceived as transformative in their time, much like the internet and AI today. The conversation also covered the importance of adapting to change and the potential personal growth that can come from unexpected challenges. Jason shared a personal anecdote about how a difficult lawsuit, which initially seemed like a career setback, inadvertently steered him towards a more stable and rewarding path. This experience underscored his message about the importance of resilience and adaptability in both personal and professional life.Join us as we explore his perspective on viewing change as an opportunity rather than a threat. His approach to life and career challenges serves as a valuable lesson for anyone looking to navigate the complexities of modern work environments and technological advancements.📺 Watch on YouTubehttps://youtu.be/5RBYNRioMe0Key Takeaways00:05:32 - Transition from media to entrepreneurship00:09:17 - Control your destiny through entrepreneurship00:10:31 - Discussion on incremental vs. exponential growth00:17:04 - Historical perspective on change and innovation00:22:51 - Addressing fear and resistance to new technologies00:30:31 - Advice on adapting to change and creating a personal mission statementTweetable Quotes"Life feels like it's changing because it's only relative to what we were familiar with growing up. But every time in modern history is a time of great change. Some of those times were more transformative than the ones we're going through now.""Develop a mission statement for yourself that is not anchored to something easily changeable. For example, instead of 'I am a magazine editor,' mine is 'I tell stories in my own voice.' This helps identify your transferable value and understand who you are in times of change.""Life is not linear; it's reactive. We often fear that a new thing will destroy us... Instead, what we do is react in ways that may not have made sense before whatever new input came along. This reaction can ping us in a completely different direction, potentially leading to new opportunities."Guest ResourcesWebsite - https://jasonfeifer.comFacebook - https://www.facebook.com/jasonfeiferInstagram -
105: Heather and Douglas Boneparth - From Corporate to Co-Founders: The Journey to Financial Collaboration
May 1 2024
105: Heather and Douglas Boneparth - From Corporate to Co-Founders: The Journey to Financial Collaboration
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I speak with Douglas and Heather Boneparth. Douglas, a Seasoned Financial Advisor, and Heather, a Former Corporate Attorney, share their journey and insights on managing finances within a relationship. They discuss the evolution of their financial strategies, especially in light of the global pandemic and how it necessitated a shift in their approach to money and partnership.They emphasize the complexities of merging finances in a relationship, emphasizing that it's not a one-time event but a continuous process. They highlight the importance of communication and understanding each other's financial backgrounds and perspectives. They also touch on their upcoming book, "The Merge," which explores navigating financial power dynamics within relationships, aiming to provide couples with tools to manage their finances harmoniously. It covers the personal challenges they faced, such as the impact of career changes and the dynamics of working together professionally. Join us as we explore the importance of ongoing dialogue and mutual understanding in managing finances as a couple, ensuring both partners feel valued and empowered.📺 Watch on YouTubehttps://youtu.be/GNwHFY0T4HoKey Takeaways00:02:00 - Douglas and Heather's Early Career and Financial Struggles00:11:02 - Shift in Career Dynamics and Financial Contributions00:15:33 - The Importance of Communication in Financial Relationships00:30:14 - Growth and Success in Their Business00:40:14 - Advice for Couples Considering Marriage00:41:57 - Importance of Communication Over Financial MechanicsTweetable Quotes"A global pandemic was not something we accounted for. Whatever we did to set up our financial life before then was no longer relevant to the world we live in now. It's a constant search for equity, balance, and communication to maintain a healthy relationship with money and each other.""I grew up watching my father and grandfather as entrepreneurs, which baked into my DNA the understanding of money as a tool. This contrasted with Heather's experience, where money was a source of anxiety and not feeling in control.""It's not just about how you merge your money the first time; it's about how you stay together over the decades. The real challenge is in how couples communicate about money, the autonomy they feel in spending, and how they value each other's contributions beyond financial earnings."Guest ResourcesWebsite - https://www.bonefidewealth.comDouglas LinkedIn - https://www.linkedin.com/in/douglasboneparthDouglas Instagram -
104: Liz Frazier Peck - From Allowances to Financial Independence: Guide to Raising Money-Savvy Kids
Apr 24 2024
104: Liz Frazier Peck - From Allowances to Financial Independence: Guide to Raising Money-Savvy Kids
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I speak with Liz Frazier Peck, a Fee-only Certified Financial Planner and a passionate advocate for financial literacy. Liz shares her journey from growing up in a financially savvy household to becoming a leading voice in personal finance education. We discuss the importance of introducing financial concepts early in life, drawing parallels between learning to swim and learning to manage money. Liz's approachable insights remind us that comfort with financial topics begins in the formative years, shaping our ability to navigate the financial pools of adulthood with confidence.Liz also opens up about her personal experiences, from her initial career moves to the pivotal moments that steered her back to her roots in financial planning. Her story is a testament to the power of education and the impact of having financially literate role models. This conversation is not just about numbers; it's about preparing the next generation to face financial realities with knowledge and confidence. Whether you're a parent looking to guide your children or an adult seeking to truly understand finance for yourself, this episode offers valuable perspectives on making financial education accessible and engaging.Join us as we explore how to create a foundation of financial understanding that can support a lifetime of informed decisions.📺 Watch on YouTubehttps://youtu.be/niVNmXmW5vsKey Takeaways00:03:16 - Importance of Financial Education from a Young Age00:13:19 - The State of Financial Literacy and Education00:25:02 - Teaching Financial Concepts at Different Ages00:30:56 - The Concept and Benefits of Giving Children an Allowance00:33:39 - Avoiding Misinformation in Financial EducationTweetable Quotes"I love seeing more and more people talking about finance now because it's just, we talked about it with our families when we were younger, and I think it did the opposite of stress us out as adults. It made us comfortable with money. It's kind of like if you take an 18-year-old to a pool and you've never introduced them to water or never taught them to swim, and you just throw them in there, they're going to be like, what are you doing? This is crazy. So it's the same thing with money.""I think that adults need to realize that they don't have to understand what a hedge fund manager does to be successful in their own financial management. There are some basic ideas that really are in my book for kids. If adults understand, it makes a big difference and they don't need to know anything more complicated.""I believe allowance should be more about giving them the opportunity to practice and learn on their own. Make it relevant, then they're interested in it because it's theirs."Guest ResourcesWebsite -...
103: Ben Wildavsky - The Economics of Learning: Insights on Higher Education
Apr 17 2024
103: Ben Wildavsky - The Economics of Learning: Insights on Higher Education
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I speak with Ben Wildavsky, a seasoned expert in education policy and a visiting scholar at the University of Virginia School of Education and Human Development. Ben shares insights from his new book, "The Career Arts: Making the Most of College, Credentials, and Connections,” new from Princeton University Press in November 2023 which delves into making the most of college through career credentials and connections. We explore the value of college education in today's economic landscape, discussing the balance between acquiring broad skills and targeted skills that the job market demands. Ben's perspective is rooted in extensive research and personal experiences, making our conversation not only informative but also deeply relatable for anyone thinking about the true value of higher education.Ben also opens up about the concept of social capital and its critical role in career advancement, especially for first-generation college students. He provides practical advice on how students can build their networks and leverage these connections to enhance their career prospects. This discussion is particularly close to my heart as we navigate the complexities of preparing students for a world that values both academic and practical skills. Ben's thoughtful approach to these topics, combined with his genuine passion for education, makes this episode a must-listen for parents, students, and educators alike. Join us as we unpack the tools necessary for turning educational investments into successful careers.📺 Watch on YouTubehttps://youtu.be/oKtYnD6RPc4Key Takeaways00:02:21 - Early years and lessons on success00:07:12 - Discussion on high school to college transition statistics00:19:11 - Three important skills students should acquire in college00:34:04 - Advice to parents about college preparation for their childrenTweetable Quotes"I still believe there is a strong case for taking on a moderate amount of debt for college. You're young, acquiring skills that the marketplace rewards. Borrow money, earn your degree, then get a job and start paying it back. You've invested in what economists call human capital.""Growing up, the notion of upward mobility and the American dream was apparent to me. My father, a child of immigrants, managed to go from modest beginnings to becoming a professor and owning a house in Oakland Hills. It taught me that with fortune and hard work, higher education can propel you forward.""It's not just about having a degree or specific skills. If you don't know anyone or can't communicate your abilities, it's hard to advance. Building networks, especially for those without inherited privileges, is crucial. It's about who you know, who can vouch for you, and who can open doors to...
102: Ryan Craig - Apprenticeships for Skill Development and Economic Growth
Apr 10 2024
102: Ryan Craig - Apprenticeships for Skill Development and Economic Growth
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I speak with Ryan Craig, who brings a wealth of knowledge from the intersection of education and workforce development. Together, we tackle the pressing issue of America's skilled labor gap, dissecting how apprenticeships serve as a robust answer to our education and economic concerns. Ryan doesn't hold back in sharing the raw stats on college outcomes and the transformative power of earn-and-learn models. His insights offer a refreshing perspective on building a workforce that is not just skilled, but also equitable and economically sound.Our conversation is a deep dive into the mechanics of apprenticeships and why they're the hidden heroes of career development. We're not just talking theory here; Ryan provides a practical guide for anyone curious about how to get involved with apprenticeships, whether you're a learner eager to jumpstart your career or an employer looking to invest in future talent. This chat is an honest look at the work ahead of us, highlighting the successes of apprenticeship programs abroad and the potential they hold for the U.S. labor market. If you've ever wondered about the alternatives to traditional college paths or how to foster economic growth in tangible ways, this is the episode you won't want to miss.📺 Watch on YouTubehttps://youtu.be/b4sTSKe3jD4Key Takeaways00:00 Revolutionizing Education and Workforce Skills11:06 The Power of Apprenticeships19:14 Expanding Apprenticeships Beyond Building Trades25:27 Importance of Funding for ApprenticeshipsTweetable Quotes"An apprenticeship is a job, first and foremost, that doesn't require you to have the specific skills or experience that you're going to need in the job because that's the point of the apprenticeship. You're gaining the skills and experience as you go.""The odds are kind of against you. Now you can increase those odds by attending a selective or very selective college or university, which is hard to do. You can increase those odds if you're wealthy and you're not taking on debt, obviously, which will then expand the choices you can make post-graduation.""What automation has done to cybersecurity, I'm afraid generative AI is about to do to all the jobs across the economy... But that higher value work you won't be able to do without some relevant experience, and so we're going to see this experience gap that we're already seeing turn into a chasm."Guest ResourcesLinkedIn - https://www.linkedin.com/in/ryan-craig-b4617a80/Website - https://www.achievepartners.com Twitter -
101: Henry Oliver - Late Bloomers Success Stories
Apr 3 2024
101: Henry Oliver - Late Bloomers Success Stories
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I speak with Henry Oliver, a man whose passion for celebrating life's late bloomers is both infectious and deeply insightful. We dive into the rich narratives of those who've found their stride well beyond the conventional timelines of success, and Henry, with his upcoming book "Second Act," provides a beacon of hope for anyone questioning their path. It's a chat that truly resonates with me, as we discuss the beauty of self-discovery that doesn't adhere to society's script and the potential that lies within a life lived at one's own pace. Henry's personal journey is a testament to the theme of our talk – it's never too late to pivot and embrace the talents that have been simmering beneath the surface. As we share stories of historical late bloomers and the influence of serendipity in our lives, I'm reminded of the power of readiness to meet opportunity. This conversation is an invitation to you, the listener, to rethink achievement, explore the uncharted terrains of your own capabilities, and hold fast to the idea that your curiosities might just be the key to unlocking a fulfilling new chapter, no matter your age.📺 Watch on YouTubehttps://youtu.be/izqERFEmnA4Key Takeaways00:00 Late Bloomers and Financial Mindfulness03:09 Exploring Views on Life Success07:54 Late Bloomers and Talent Development13:55 Variation in Intelligence and Life Paths23:22 Encouraging Multiplicity and Late Bloomers28:35 The Role of Luck and Readiness36:38 Embracing the Second ActTweetable Quotes"There are other people like that and once you write a short post saying, 'oh, there's a thing here,' all of a sudden you see it everywhere, and you're like, 'oh my God, late bloomers is such a thing.'""I want to get you to perhaps think differently because we don't know how many more people could be late bloomers. If we find another six like the people I've profiled, another Frank Lloyd Wright, another Margaret Thatcher, that's great, let's have them.""You don't spot talent by what persistently happens to them, but by what they persist at. There is something that you have been persisting at in your life, something. That's your route, that's your thing. It never turns on the head of a pin without that quiet preparation."Guest ResourcesLinkedIn - https://www.linkedin.com/in/henry-oliver-5165b189/Website - https://www.commonreader.co.uk/Twitter - https://twitter.com/HenryEOliverMindful Money ResourcesFor all...
100 Versus "The Gathering Darkness" Part 9 - What About Social Responsibility (ESG)?
Mar 27 2024
100 Versus "The Gathering Darkness" Part 9 - What About Social Responsibility (ESG)?
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I dive deep into the world where ethics meet investments, and I'm thrilled to guide you through the often-misunderstood realm of Socially Responsible Investing (SRI) and Environmental, Social, and Governance (ESG) principles. It's not just about aligning your portfolio with your personal values, but also about securing a robust financial future for you and your family. Together, we'll explore how to responsibly invest in the great companies that innovate and refuse to lose our money, and I'll share with you the tools and strategies to do so without forgoing profits. This is for those who believe in the power of conscientious investing and for anyone looking to navigate the challenges of balancing moral integrity with market returns. We'll confront fears, debunk myths, and discuss practical solutions that cater to your principles while aiming for a secure retirement. I'm right there with you, supporting ESG values and discussing how modern investment tools like indices and ETFs can reflect individual beliefs. It's all about empowering you with the knowledge to make informed decisions that resonate with your ethics and financial goals. So, join me as we tackle the big questions and uncover the realities of SRI and ESG investing. Whether you're already on the path of responsible investing or just curious about what it entails, this episode is an invaluable resource for managing your wealth with a clear conscience. Let's take this enlightening journey together and empower our investment choices in the ever-evolving landscape of finance.📺 Watch on YouTubehttps://youtu.be/gNcHXvjwSLQKey Takeaways00:00 The Importance of Socially Responsible Investing14:12 The Concept of Responsible InvestingTweetable Quotes"The importance of investors having an 'adult memory' can't be overstated. It's about committing to owning shares in the great businesses of the US and the world, which can bolster asset accumulation, retirement income, and legacy creation.""Whether it's responsible doesn't predictably move the long-term needle. The cost of the tool has a larger known effect on the long-term performance outcome to a client than does the moniker responsible.""The opportunity to invest with SRI and ESG in mind is a privilege. I'm proud to do it, I'm proud to offer it as a choice for people who can afford to make that choice. It isn't right for everyone."Mindful Money ResourcesFor all the free stuff at Mindful Money: https://mindful.money/resourcesTo buy Jonathan’s first book - Mindful Money:
099 Versus “The Gathering Darkness” Part 8 - Defining The Great Companies of the US and the World
Mar 20 2024
099 Versus “The Gathering Darkness” Part 8 - Defining The Great Companies of the US and the World
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I take you through the ins and outs of equity investment, peeling back the layers of complexity to reveal a clear, tax-efficient strategy that can grow your wealth with ease. We talk about the power of global all cap portfolios and how they might just be the one-fund solution you've been looking for. Together, we'll explore why market timing and security selection might not be the keys to investment success that they're often made out to be. I'll share with you my personal journey towards embracing a portfolio that's not only simple to manage but also aligns with my belief in responsible investment. I'm also excited to dive into the heart of our ongoing series 'Versus the Gathering Darkness' in Part Eight, where we tackle the psychological hurdles to investing and celebrate the forward- thinkers who ensure our money is never idle. This episode isn't just about understanding the 'what' and 'how' of investing in great companies globally—it's also about the 'why'. It's about adopting an investment mindset that moves beyond the individual to consider our collective impact on society and the environment. So join me, and let's journey together towards a future where our financial decisions help build a more prosperous and ethical world.📺 Watch on YouTubehttps://youtu.be/IjY9ikfSyd0Key Takeaways00:00 Mindful Money Management for More Life09:12 Low-Cost All Cap Index InvestingTweetable Quotes"If you understand that market timing and security selection cannot add value over time and are more likely to reduce performance, then one global all-cap portfolio could, and perhaps should, make up your entire equity portfolio.""Performance favors indexing. At the same time, quality of life—lower stress, fewer decisions, less regret—also favors indexing.""There are no facts about the future. We do not know what is coming next, and even if we did, we could not predict how markets would react."Mindful Money ResourcesSPIVA Scorecard  Domestic Indices:S&P 1500S&P 500S&P 400S&P 600
098 Versus "The Gathering Darkness" Part 7 - Outcome of a Lifetime Commitment to Equities
Mar 13 2024
098 Versus "The Gathering Darkness" Part 7 - Outcome of a Lifetime Commitment to Equities
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, we dive deep into the world of financial fortitude, with a focus on not just weathering the storm, but creating a legacy that'll ripple through generations. I've laid out a blueprint that demystifies the complex world of investing, breaking down how a disciplined approach and the magic of compounding can turn even the humblest of savings into a retirement nest egg that's nothing short of impressive. And trust me, it's not just about stashing away cash; it's about cultivating a mindset that recognizes the power of great companies and the role they play in growing your wealth over time.I'm genuinely excited to guide you through the nuances of building and maintaining wealth that outlives you. We'll explore the indispensable concept of an 'adult memory' when it comes to managing finances and why embracing innovation and minimizing losses can be game changers in your investment journey. I'll also share insights on strategic legacy planning: how to pass on wealth and the wisdom needed to manage it across multiple generations. So whether you're taking your first step towards saving or you're looking to fine-tune your retirement plan, this episode is packed with practical advice that can help steer you towards a future where 'happy investing' is a tangible reality for you and your loved ones📺 Watch on YouTubehttps://youtu.be/Hxy7AmQLpoUKey Takeaways00:00 Long-Term Benefits of Investing16:08 Wealth Compounding and Legacy Planning30:12 Three Points of Financial SuccessTweetable Quotes"Success is the ability to go from failure to failure without losing enthusiasm. In investing, this means holding on to your diversified shares through market declines without losing your drive.""The goal, as Charlie Munger so wisely expressed, is to never interrupt compounding unnecessarily. This is the essence of building wealth—allowing the great companies to grow and expand your portfolio over time.""Wealth is a river capable of growing deeper and wider as it flows downstream to the next generation. By committing to smart investing and prudent spending, one can create legacy wealth that is not just transgenerational but multi-generational."Mindful Money ResourcesFor all the free stuff at Mindful Money: https://mindful.money/resourcesTo buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369To buy Jonathan’s second book – Mindful Investing:
097 Versus “The Gathering Darkness” Part 6 – Support Owning Great Businesses By Understanding The Summary Objection
Mar 6 2024
097 Versus “The Gathering Darkness” Part 6 – Support Owning Great Businesses By Understanding The Summary Objection
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, we take a deep dive into the timeless approach of equity ownership for wealth building. It's all about cutting through the noise and focusing on the proven success of investing in the finest companies worldwide. I tackle the 'this time is different' myth head-on, offering historical evidence that demonstrates the resilience of shares through economic ups and downs. I'm here to equip you with the mindset to stand firm in your investment decisions, even when headlines and market fluctuations test your resolve. By joining me, you're not just listening to another finance podcast—you're stepping into a space where we confront economic uncertainty with informed strategies that have stood the test of time. I'm genuinely thankful for you walking this path with me toward investment enlightenment. In our journey together, I stress the importance of conviction in your investment choices and the power of compounding for your financial legacy. The goal here is to share knowledge that empowers you to build and secure long-term wealth, beyond the short-term volatility that can so easily distract. So, if you're ready to reaffirm your belief in the value of global shares and want a companion in navigating these sometimes stormy investment waters, this is the episode for you. Let's reinforce our financial acumen together. Remember, this isn't just about money—it's about sustaining prosperity and enabling philanthropy through savvy investing. Join me as we continue to build on these crucial concepts.📺 Watch on YouTubehttps://youtu.be/sT8OKHxjEN0Key Takeaways00:00 Owning Great Businesses for Long-Term Wealth11:41 The Power of Belief in Investing16:45 Ownership of US and World SharesTweetable Quotes"Every rational, profit-seeking business does two things we can't imagine the stock market doing. First, rational profit-seeking businesses refuse to lose money any longer than they have to. When an event occurs, the business is acting to protect investors' capital and position for recovery. Every employee, every manager, every executive, and every board member are thereto protect and grow investors' capital.""The five beliefs which I hope you're going to save and revisit are truths about how the world economies and markets work. They are factual, they are foundational, they're based on evidence. 'This time is different' is always an attempt to separate you from that history and evidence.""Believing the five, you believe in something more powerful, more true, more real, more enduring than headlines, and you cannot be scared out of your genuinely well-asset allocated and broadly diversified portfolios of the great companies of the US and the world. Not being scared out means never having to decide when to re-enter and it means never...
096 Versus “The Gathering Darkness” Part 5 – Support Ownership of Great Businesses by Fully Grasping Growth OF Income
Feb 28 2024
096 Versus “The Gathering Darkness” Part 5 – Support Ownership of Great Businesses by Fully Grasping Growth OF Income
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I dive deep into the often-misunderstood realm of retirement planning, debunking the myths that might have you believe bonds are the be-all and end-all for a secure financial future. We've been told time and again to play it safe as we age, but I'm here to flip the script and show you how equities - those powerful shares in the great publicly traded companies - could be your secret weapon against inflation and the key to a retirement income that doesn't just last, but grows. I bring you almost a century of evidence and my personal anecdotes to back up this bold claim, demonstrating the resilience and growth potential of dividends in an uncertain economy. Together, we'll explore why the 'bonds are best' narrative could actually set you up for a slow-motion financial suicide in a world where living costs are relentlessly climbing. You'll understand how fostering an income through equity investments in formidable companies isn't just smart; it's necessary to outpace inflation and maintain a lifestyle that's not just comfortable, but financially dynamic. I promise that by the end of our chat, you'll be armed with the essential tactics to make your golden years truly shine. So, join me as we step confidently into a discussion that could very well redefine your approach to retirement. Let's grow that retirement income together!📺 Watch on YouTubehttps://youtu.be/ELx_ntCfhkYKey Takeaways00:00 Owning Shares for Retirement Income06:33 Importance of Long-Term Equity InvestingTweetable Quotes"Wealth is created by owning businesses, and the reluctance to invest in such businesses is often due to fear stirred by the 'Gathering Darkness'—a blend of negative media narratives.""Fixing your income in a rising cost world is financial suicide. It's slow-motion suicide, but suicide nonetheless.""The only investments you can passively own that feature an active refusal to lose money any longer than necessary are the shares of the great publicly traded businesses of the US and the world."Mindful Money ResourcesFor all the free stuff at Mindful Money: https://mindful.money/resourcesTo buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369To buy Jonathan’s second book – Mindful Investing:
095 Versus “The Gathering Darkness,” Part 4 – Support Ownership of Great Businesses By Observing Inconceivable Progress
Feb 21 2024
095 Versus “The Gathering Darkness,” Part 4 – Support Ownership of Great Businesses By Observing Inconceivable Progress
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode, I invite you to unlock the potential of your financial future through the lens of innovation and human ingenuity. Together, we dive into the world of investing where I blend personal stories with historical insights to show you how investing in pioneering companies can lead to significant wealth creation. Imagine being part of the groundbreaking journey of a company like the one that brought you the iPhone, and the potential financial rewards that could come with it. As we navigate the importance of being shareholders in these transformative enterprises, I share my passion for the relentless progress they represent and the benefits gained by those who invest wisely.We also take a closer look at retirement planning, where I challenge the traditional growth versus income debate. I discuss a blended approach that maximizes retirement income through the growth of innovative companies, offering you a strategy to secure a financially robust future. I want to bring you into a community where we stay ahead of the curve, making informed investment decisions that enrich our lives. Next week, we'll continue this conversation, but for now, I'm excited for you to join me in rethinking how we can harness the power of growth to empower our retirement aspirations. Don't forget to engage with the episode for a richer experience, and I hope you'll be as excited as I am to be part of this investment journey.📺 Watch on YouTubehttps://youtu.be/2DjIFOMGo2EKey Takeaways00:00 The Power of Innovation in Investing12:54 Maximizing Retirement Income Through GrowthTweetable Quotes"Second only to love, human ingenuity and its expression through innovation is the greatest force on earth.""One small handheld device operated by a teenager in 2023 has more computing power than all the IBM mainframes on the planet the year I was born, 1971.""Publicly traded equity ownership provides remarkably consistent long-term returns. Short-term is a crap shoot. No one has any idea, no one can predict, and it's perhaps the only true passive investment out there."Mindful Money ResourcesFor all the free stuff at Mindful Money: https://mindful.money/resourcesTo buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369To buy Jonathan’s second book – Mindful Investing:
094 Versus “The Gathering Darkness,” Part 3 – Support Ownership of Great Businesses By Understanding The Rational Refusal to Lose Money
Feb 14 2024
094 Versus “The Gathering Darkness,” Part 3 – Support Ownership of Great Businesses By Understanding The Rational Refusal to Lose Money
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampJoin me, Jonathan DeYoe, on a journey of financial acumen in the latest episode of Mindful Money, where we unravel the secrets to amassing wealth in the face of global economic tremors. With a deep dive into the remarkable resilience of profit-driven corporations, like the hotel behemoth Marriott International, we illuminate how they navigate through storms like the COVID-19 pandemic with strategic finesse and emerge even stronger.In this episode, we discuss the art of placing money where it belongs, and how to extract the utmost value from life. We share stories that exemplify the power of informed financial decisions and the profound impact of possessing an 'adult memory' of financial history. This episode isn't just for seasoned investors; it's a clarion call to artists, authors, entrepreneurs, and advisors alike who yearn for financial serenity and aspire to enrich their lives beyond measure.This discussion promises to arm you with the investing strategies necessary for profitability and financial security in today's world of burgeoning government debt. My heartfelt appreciation goes out to every listener joining us on this journey. Your time is precious, and I'm honored to share these nuggets of wisdom that could very well be the compass guiding you to your financial North Star.So tune in to Mindful Money, and let's discover how to preserve and flourish our wealth, even amidst global crises.📺 Watch on YouTubehttps://youtu.be/SHwG_UvBN_EKey Takeaways00:56 - The Characteristics of Profit-Seeking Businesses07:11 - Profitability in Business Locations13:06 - The Power of Benefit and UniquenessTweetable Quotes"Rational, profit-seeking businesses will choose to protect their capital, regardless of what that does to a community or a geography. They cannot be forced to do otherwise.""The moment the mistake or the surprise are realized, the activities of the executives and the board of directors will be 100% focused on reducing the losses and returning to profitability. This is their job.""Capital invested in businesses will remain invested in those businesses so long as it is loved and allowed to prosper. When it is no longer loved, it will leave and prosper elsewhere."Mindful Money ResourcesFor all the free stuff at Mindful Money: https://mindful.money/resourcesTo buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369To buy Jonathan’s second book – Mindful Investing:
093: Versus “The Gathering Darkness,” Part 2 - Support Ownership of Great Businesses With an Adult Memory
Feb 7 2024
093: Versus “The Gathering Darkness,” Part 2 - Support Ownership of Great Businesses With an Adult Memory
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this episode I unravel the fabric of the 1970s—a decade of economic turmoil—and extract the golden threads of wisdom that are just as relevant to today's investor. We'll challenge the fallacy that "this time is different," shining a light on the enduring power of human ingenuity and the resilience of the market. It's a story that celebrates the remarkable ability of great companies to thrive amid uncertainty, and it's a story that I can't wait to share with you.I'm genuinely thrilled to bring these historical insights to life, insights that empower us to craft investment strategies with a newfound confidence. By understanding the past, we pave the way for a future where our investments reflect the robustness of human progress, not the shadows of fear. So, come along and let's embrace the wisdom of history together—your financial peace of mind might just be a podcast episode away.📺 Watch on YouTubehttps://youtu.be/_28S8RAIG5oKey Takeaways00:00 Human Ingenuity in Investing14:46 Great Companies Refusing to Lose MoneyTweetable Quotes"The minute we decide to sit this one out or wait and see, or look for an all clear signal, we begin to fall behind.""There is real suffering in the world. The headlines will always capture the current gathering darkness, but don't make the mistake of believing that the darkness any of it can overwhelm the inconceivable progress that's being made at the great companies of the US and the world all the time.""The price is up 45 times because the earnings are up 40 times and the dividends are up 22 times, versus inflation, which is only up eight times in the same period."Mindful Money ResourcesFor all the free stuff at Mindful Money: https://mindful.money/resourcesTo buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763Subscribe to Jonathan’s Weekly Newsletter: https://courses.mindful.money/email-opt-inCapture the most important benefit of an advisor – behavioral support – without the 1% fee:
092: Versus “The Gathering Darkness”, Part 1 - Support Ownership of Great Businesses By Understanding Words and Meaning
Jan 31 2024
092: Versus “The Gathering Darkness”, Part 1 - Support Ownership of Great Businesses By Understanding Words and Meaning
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this heartening episode, I, Jonathan DeYoe, am thrilled to guide you on an eye-opening exploration of long-term investment, where we courageously confront the myths that have long clouded our financial judgment. This isn't just a lesson in diversification; it's a profound revelation in how you can become part-owner of the world's most successful companies. We'll unravel the historical fallacies that have haunted investors for decades and reveal how to see past the media's sensationalism that often warps our wealth-building perspective. Together, we'll strip away the uncertainties and empower you with undeniable truths about the stock market, transforming your perception from viewing equities as mere financial instruments to recognizing them as your stake in the businesses that are shaping our world's future. Join me in this transformative journey as we lay a new foundation for your investment beliefs and chart a path to enduring prosperity. I'm genuinely excited to share with you the invaluable insights and stories from various thought leaders that have shaped my understanding of the markets. We'll delve into the compelling reasons why owning equities means so much more than just holding shares—it's about being intimately connected to the thriving pulse of global enterprise. My aim is to bolster your confidence, especially as we face the challenges of 'the gathering darkness', and to help you navigate the future with clarity and conviction. By the end of this episode, you'll feel a renewed sense of ease and purpose in your investment strategy, armed with the knowledge that your financial future is backed by the rational, profit-seeking endeavors of the world's greatest companies. So, don your captain's hat, and let's set sail into the vast and rewarding seas of global stock ownership. Your adventure towards financial enlightenment starts here, and I can't wait for you to join me.📺 Watch on YouTubehttps://youtu.be/bEVqfA34-e8Key Takeaways(00:34) Minimizing Money Thoughts and Building Wealth(07:53) Businesses' Rational Behavior in Turbulent TimesTweetable Quotes"Wealth is built through the ownership of great companies.""The most important element of my belief in equities stems from a simple but often overlooked fact. Equities represent the ownership of businesses.""Recognize that the entire structure of the businesses you own is designed to protect and grow your invested capital and breathe easier. Don't sweat the zig-zags as the clouds gather and therains begin."Mindful Money ResourcesFor all the free stuff at Mindful Money: https://mindful.money/resourcesTo buy Jonathan’s first book - Mindful Money:
091: The Commitment to Business Ownership Builds Wealth; The Gathering Darkness Tests That Commitment (1/9)
Jan 26 2024
091: The Commitment to Business Ownership Builds Wealth; The Gathering Darkness Tests That Commitment (1/9)
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn today's episode, I delve into the empowering reality that the vast majority of wealth in America is not handed down through generations but is actually self-made. It's a fact that flips the script on economic fear and opens up a world of possibility for anyone with the drive to succeed, even amidst global turmoil.I bring you stories and insights from my years as a financial advisor, shedding light on how an average income can be the seed for a thriving financial future. The key? Business ownership and strategic investments in solid companies. This isn't a tale for the elite few; it's a roadmap for anyone ready to grasp financial opportunities, regardless of the economic climate.But it's not all about the numbers. We face a "gathering darkness," an array of challenges that stir up our primal instincts of fear and flight. I address the importance of mindfulness as a tool to navigate through the sensationalism and anxiety that often accompany uncertain times, encouraging a steadfast focus on long-term goals.By breaking down these concepts and offering practical advice, I aim to guide you through the tempests of doubt and into a future where your aspirations are not just intact but flourishing. Join me as we confront the "gathering darkness" and transform it into a journey towards financial liberation.📺 Watch on YouTubehttps://youtu.be/G4FPyb7H7wMKey Takeaways(00:00) Generation Control and Inherited Wealth(06:17) Building Wealth for Your Family(09:44) Natural Selection's Power in Our Minds(17:48) Owning Shares in Great CompaniesTweetable Quotes"Owning shares in the great companies of the US and the world is the dominant cause of all wealth. It is greater than all of the other causes combined.""As the darkness gathers, the screaming will get worse. We have to recognize that the facts may also get worse as well. Until, eventually, they start getting better again. No one's going to know how markets or economies will react... There are no facts about the future. The light will always be followed by the dark, and the dark again by the light.""The only reliable way to build wealth for yourself and your family that you can turn into a rising stream of income that rises to match your rising cost of living and last the rest of your life is by owning businesses, owning shares of the great companies of the US and the world."Mindful Money ResourcesFor all the free stuff at Mindful Money: https://mindful.money/resourcesTo buy Jonathan’s first book - Mindful Money:
090: Jennifer Dazols - Financial Planning for Women and LGBTQ+ Communities
Jan 17 2024
090: Jennifer Dazols - Financial Planning for Women and LGBTQ+ Communities
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampIn this enlightening episode of the Mindful Money Podcast, host Jonathan DeYoe is joined by Jennifer Dazols of Modern Family Finance for a deep dive into the intersection of personal finance and individual values, with a particular focus on the unique financial planning needs of women and the LGBTQ+ community. As Jonathan shares his own transformative journey from tech to finance, influenced by his immigrant parents' wisdom, the conversation uncovers how to align wealth with personal happiness and reduce money's dominance in life. Jennifer sheds light on the specific challenges and strategies pertinent to diverse families and lifestyles, while also offering universally applicable financial advice. Together, they empower listeners to craft a financial plan that is not only inclusive and specialized but also reflective of their deepest values and aspirations, making for a must-listen episode for anyone seeking to shape their wealth with intention and inclusivity.📺 Watch on YouTubehttps://youtu.be/B5C2RyYg5SkKey Takeaways(00:00) Navigating Personal Finance and Money Beliefs(11:44) Working with a good Financial Advisor(18:53) Financial Coaching and LGBTQ+ Family Concerns(27:03) Financial Advice on Cash Flow(35:21) Financial Planning and Podcast RecommendationsTweetable Quotes"Money should be seen not as a constraint but as fuel for living your best life. It's about shifting the perspective from what we can't do because of financial limits to how we can use our resources to fulfill our dreams and aspirations." (Jennifer)"The value of financial planning comes not from a transaction, but from a transformation. It's about moving from financial uncertainty to a place of confidence, where you can make decisions that align with who you are and what you value most in life." (Jonathan)"Inclusive financial advice means recognizing that everyone's journey is unique. It's about crafting strategies that reflect the diversity of lifestyles and experiences, especially for communities like women and LGBTQ+ individuals, who have long been underserved by traditional financial planning." (Jennifer)Guest ResourcesModern Family FinanceMindful MoneyTED TalkBooks Mentioned:Your Money or Your...
089: Spencer Sherman - Growing Outer Riches from Inner Wealth
Jan 10 2024
089: Spencer Sherman - Growing Outer Riches from Inner Wealth
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampSpencer Sherman is a financial advisor and the Founder and former CEO of Abacus, a values- driven financial planning firm in Northern California. He’s known for his mindfulness-based approach to money. He’s the author of The Cure for Money Madness , and he’s a proponent of this idea that our formal training and expertise in finance take a backseat to emotional intelligence, which enables us to make better choices rooted in balance, kindness, compassion and joy.Today, Spencer joins the show to discuss his mindfulness-based approach to money, his meditative practices and his thoughts on the ever-changing financial industry.📺 Watch on YouTubehttps://youtu.be/YIZd8ELRT3gKey Takeaways00:52 – Jonathan introduces today’s guest, Spencer Sherman, who joins the show to discuss what he learned about money growing up in Queens07:44 – Fixed money beliefs that held Spencer back14:07 – Why Spencer named his company, Abacus16:24 – How meditation and silent retreats have made Spencer a better financial advisor23:34 – Getting started with meditation25:10 – How the financial industry has changed over the years35:57 – Spencer shares his concern with ‘abundance mindset’42:55 – One thing we can do to increase personal and financial success and one thing to completely ignore46:51 – One thing Spencer would like others to know about him49:12 – Jonathan thanks Spencer for joining the show and lets listeners know where to connect with himTweetable Quotes“Growing up, I thought [money] was paramount. And, of course, it led me to do some very unhealthy behavior like becoming this incredible workaholic in my early twenties. I sort of sacrificed my well-being, and those really fun years to this devotion to making money.” (08:53) (Spencer)“I think a lot of the ideas in Buddhism really work well with how we think about money and how we plan our finances. Everything the Buddha said about not grasping for things, that generosity is the path to abundance. These kinds of messages have worked really well with being a financial advisor.” (15:06) (Spencer)“I’m a big believer that doing something is way, way better than doing nothing. Having little successes is better than one big success.” (20:10) (Spencer)“I think there’s a lot more awareness of the need for a financial advisor, of the need for objectivity.” (25:23) (Spencer)“I think one of the most amazing things about having wealth is this ability to impact the world with your wealth.” (40:20) (Spencer)Guest ResourcesSpencer’s WebsiteFree Tools from Spencer
088: Elizabeth Ralph - Building Wealth Through the Power of Spirituality & Investing
Jan 4 2024
088: Elizabeth Ralph - Building Wealth Through the Power of Spirituality & Investing
Upcoming Event!How Can Mindfulness Help You Reach Financial Independence?Do you want to reduce money anxiety, but don’t know who to trust?Would you like to learn how to set up and manage your own retirement plan?Do you want to know how we create a passive income stream you can’t outlive?If yes, join us and learn how to answer the 4 critical financial independence questions:Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?Learn more: https://courses.mindful.money/financial-independence-bootcampElizabeth Ralph is a wealth strategist and intuitive investor who retired at the age of 39 to help others reach financial freedom in non-traditional ways. She was a financial executive and an energy trader until in 2012 she had an epiphany while feeding Cheetos to a kangaroo on a beach in Australia. She realized her purpose was saving unwanted horses and committed to a strategy to achieve financial freedom within ten years.Today, Elizabeth joins the show to discuss her philosophy on money and spirituality, the myth of freedom and the risk of procrastination.📺 Watch on YouTubehttps://youtu.be/xK0IWd-8Xj0Key Takeaways00:57 – Jonathan introduces today’s guest, Elizabeth Ralph, who joins the show to discuss her personal approach to money and why her mindset is her most powerful asset07:01 – How Elizabeth works with clients who won’t get off the water hose08:47 – Elizabeth’s definition of ‘retirement’ and ‘financial freedom’15:50 – The Spiritual Investor framework21:46 – The myth of freedom24:19 – The risk of procrastination27:09 – One piece of financial advice to heed and one to completely ignore32:46 – The last thing Elizabeth changed her mind about and what would constitute a perfect day for her34:35 – Jonathan thanks Elizabeth for joining the show and lets listeners know where to connect with herTweetable Quotes“I do feel like I inhabit a specific frequency with money that allows me to be more open. It allows me to listen and really get in there with people.” (04:26) (Elizabeth)“I feel like I have a pretty good filtering system with people coming into my world. They’re gonna go through the podcast, the program, something where they’re at least open to, ‘Ok, money is energy and I’m interested. I want to learn more about this.’ So, it does help in that regard. But yes, I have worked with people and done experiments where I’ve taken people off the streets and said, ‘Let me work with you.’” (07:18) (Elizabeth)“Wealth is constantly changing and evolving just like we’re constantly changing and evolving.” (12:38) (Elizabeth)“I think people are so sick of rules, especially when it comes to finance and money.” (16:14) (Elizabeth)“I want people to be closer to their money because then it becomes part of their story. And when it becomes part of their story, then it becomes one and they’re not separate from it anymore.” (17:49) (Elizabeth)“It's the cost of sitting on the sidelines. Once you really get that, you can no longer wait. And I think if you can get people to no longer wait, that is as valuable as giving them the best piece of financial advice out there.” (24:57) (Elizabeth)Guest ResourcesElizabeth’s Website