Get smart with money

“I have followed Paul since his Podcasts began. I’ve read his books and use all of the tools that you gentlemen have provided. All the advice and tools have made my life, and all those I help and share your work with, dramatically improve financially!  I thank you with all of my heart.” — Randy R. In […]

The post Get smart with money appeared first on Paul Merriman.

“I have followed Paul since his Podcasts began. I’ve read his books and use all of the tools that you gentlemen have provided. All the advice and tools have made my life, and all those I help and share your work with, dramatically improve financially!  I thank you with all of my heart.” — Randy R.

In This Edition

Get Smart With Money
Truth Tellers Tim Ranzetta and Two Cents
Earn & Invest: Doc G Interview & New Book
Our 10th Anniversary: List of 10s
Personal Story

 Dear Friends,

Netflix recently released a movie titled, “Get Smart With Money.” The premise is four American adults, with financial challenges, chosen to work for a year with a financial advisor matched to him or her. Viewers are acquainted with the personal story of each participant and witness their challenges and changes in working with their coach who shares simple tips for saving and gaining control of their money.

 

Although most of our readers/viewers/listeners are far beyond the basics addressed in this film, I believe this kind of film can serve as a catalyst for a lot of people who otherwise have no knowledge of finances and choices to improve their situations and plan for the future.

It also speaks to me about the value of sound financial advice and coaching. Last week, for example, I was invited by a company’s owner to speak to 45 employees, many of whom have had very little exposure to financial education. He had generously bought copies of our book, We’re Talking Millions, and given one to each employee.

I hope my addressing the group helped encouraged them to begin investing based on sound historical evidence. But I cannot be there to hold their hand, and there is a big difference between my hour of presentation and the outcome of having a professional advisor, and/or a financial coach to get and keep you on track.

I’d love it if everyone could have a fee-based fiduciary financial advisor, especially as a beginning investor and also within five to 10 years of retirement to review your retirement plan…if you have one. And if not, to create one you understand and can stick with no matter the ups and downs of the market.

Our work aims to build confidence for those already on the save-and-invest track. We can’t coach you personally, but we can give the best evidence, in understandable formats, to make wise decisions for yourself and your loved ones, and prepare you for the inevitable bad times… as no one needs preparation for the good times.

 

Truth Tellers Educating Young People

Today I want to bring to your attention two different organizations — Next Gen Personal Finance (ngpf.org) and “Two Cents,” produced by Public Broadcasting Service (https://www.pbs.org/show/two-cents/) —that are doing great work in educating our young people about all matters related to money.

If you have young people, or teachers, in your life, I highly recommend that you share these resources with them. And check them out for yourself as well, as there’s marvelous, innovative methods and ideas for learning more about the many aspects of personal finances.

 

Tim Ranzetta, co-founder of Next Gen Personal Finance (ngpf.org)

Tim Ranzetta is one of my inspirational heroes. He is an extraordinarily respectful person whose sense of “giving back” is exemplary. His financial education organization is changing the lives of millions of young people, and in many cases their parents.

NGPF is a non-profit organization committed to connecting educators with free resources and equip students with the knowledge and skills to lead financially successful and fulfilling lives since 2014.

Tim is also the Founder and President of Student Lending Analytics (SLA), an independent research and advisory firm focused on finding the best lenders for students. SLA’s research has been featured in The New York Times, Washington Post, US News and World Report and Chronicle of Higher Education. SLA is not affiliated with any student lenders or other financial service firms.

Prior to SLA, Tim had leadership roles in a series of high-growth entrepreneurial ventures. He earned his M.B.A. from the Stanford Graduate School of Business and a B.S. degree in Finance with Distinction from the McIntire School of Commerce at the University of Virginia. He lives in Palo Alto, California.

In addition to countless resources on the ngpf.org website, His latest ambitious program, funded by a grant from Michael Jordan and Jordan Brand, will ensure that nearly a million high schoolers will receive life-changing personal finance education. Read about it here.

In more good news, the NGPF’s 2022 Annual Report shows “How guaranteed access to Personal Finance courses expanded to nearly 1 in 4 high school students in 2022.”

Because NGPF covers so much ground for teachers and students, I encourage you to click on some or all the links below to get a sense of the quality and usefulness of its courses and resources. There’s always more to learn!

High School Personal Finance:  9-Week Course, Semester Course, Full Year Course

Middle School Personal Finance:  Middle School Course

Curriculum:  All Units, Checking, Saving, Types Of Credit, Managing Credit, Paying for College, Budgeting, Investing, Behavioral Economics,   Career, Taxes, Insurance, Consumer Skills, Mini-Units

Math:  Financial Algebra, Math Collection

Economics: Econ Collection   Videos & activities: So Expensive Series

Current event videos & quizzes:  Fincap Friday, Question Of The Day, Unit Review,  Podcasts in the Classroom,  Interactive Library, Video Library,   Personal Finance Dictionary

 

Two Cents

Two Cents presents short, succinct, quality-produced videos providing personal finance tips and tricks for millennials and Gen Z. They cover a wide variety of topics. Here are a few examples:

Is It Even Possible to Save for Retirement?What the Heck Are Mutual Funds?What the Heck is an Index Fund?Is the Stock Market Just a Big Casino?5 Ways People Are Dumb About MoneyHacking Your Brain To Get Out of Debt

 

 

Earn & Invest: Doc G Interview & His New Book

Jordon Grumet, MD., aka “Doc G,” is both a hospice doctor and host of the “Earn and Invest” podcast. Passionate about empowering personal financial success, he brings a unique end-of-life understanding that can put money in a very different perspective.

In a recent interview, he asked me number of insightful questions, like “Do investment strategies change over time?” and “How important is dividend investing?

And we spoke about what I see as the “7 Biggest Investment Decisions.” Listen to the podcast.

But what I’m also hoping you’ll do is buy and read Jordon’s book, Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life.

It has become a best seller at Amazon with almost all 5-star ratings. You can read all the reviews at the above link. Here are a few:

“The author…has given a beautiful gift for those who choose to receive it. He has shared the wisdom accumulated from years of working with individuals at the end of life. Most of us would never have the privilege otherwise to learn from these insights and side-step some of the painful regrets others would wish to warn us of.”

“This book spoke to me on many levels and helped me understand my feelings and thoughts about money and financial independence. Doc G shares his experiences as a hospice doctor, and this unique perspective of working with the dying helps us to understand how to live fully. Whether you love your work and can’t imagine ever retiring, or you hate your job and want the quickest path to financial freedom, Doc G helps you see that there are many roads to happiness and that living a good life is not just about financial freedom.”

“”Jordan holds nothing back in Taking Stock. His openness and vulnerability create the space for us to reflect on how to use money to create freedom and make the most of this one life.”

Watch the Trailer for his new book: https://www.earnandinvest.com/

 

Our 10th Anniversary — List of 10s

With just three months left in 2022, which marks 10 years since starting our Foundation, we will continue sharing with you some of our accomplishments over the past decade. Your support helps make our work possible.

Here is the first list of 10 in which we hope you find value.  These articles, many going back to the earliest days of our Foundation, are filled with steps that can help investors make better long term investment decisions.  In each case the articles are a joint effort with Rich Buck, a dear friend and important partner in our educational outreach.

10 Can’t Fail Lessons of Diversification10 Do’s and Don’ts for Retirement Investors10 Decisions Guaranteed to Change Your Financial Future10 Mistakes Nearly Everyone Makes When Saving for Retirement10 Numbers That Can Change Your Life10 Questions to Help Measure the Risk in Your Portfolio10 Reasons Brokers Don’t Like Index Funds10 Steps to a Perfect Retirement10 Things You Should Know About Portfolio Performance10 Ways to Retire Early — It’s Not Easy, But It’s Doable

 

Personal Story

“Thank you for the inspiring work you have done over the years. I have learned so much from you. I have followed your podcasts and recommendations for almost a  decade. My kids and grandkids invest in small-cap value ETFs, as you have recommended. You will make a huge impact on the financial wellbeing of my family. I thank you in advance and appreciate Mr. Pedersen and Mr. Bahls now being a more active part of your educational efforts. I follow your great work. It may be the most valuable education I ever received. Thank you!” — Poul H., Denmark

 

Helping you build a better financial future,

Paul

 

Call To Action!

Here are a few simple ways to support the financial education work of The Merriman Financial Education Foundation, a registered 501(c)3. In so doing you help better the lives of individuals, families and  communities, creating more opportunities for all.

Subscribe to our weekly “Sound Investing” podcast, available on your favorite listening platforms and leave a review. Tell us what you think!Subscribe to our YouTube Channel, and hit the thumbs up, subscribe, leave a comment and share the link with your social media and friends. Use our M1 Finance affiliate link to set up a brokerage account and use our portfolio suggestions. If you fund your account with a minimum of $1,000, our foundation will receive a one-time affiliate fee —at no cost to you—which helps support our financial education projects.Follow us on Facebook, Twitter and LinkedInBuy our latest books, We’re Talking Millions! 12 Simple Ways To Supercharge Your Retirement and 2 Funds for Life: A quest for simple & effective investing strategies; all the profits help support our work.Support our mission by making a tax-deductible donation to the Foundation. 

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