The daughter of a financial planner, Liz saw first hand how her Mom's practice helped families manage their money more effectively..so she eventually followed in her footsteps. In this NGPF podcast, Liz shares her approach to working with her clients, why she believes so strongly in a fee-only structure for financial planners and details some client success stories. In her new book, Beyond Piggy Banks and Lemonade Stands, Liz provides a "how-to" book to help parents with young children teach them the basics of money with a focus on real-world activities. From Liz's perspective, learning to manage money should be an active process and she provides lots of fun examples in this podcast. Enjoy! 

Details:

• 0:00~1:24 Introduction
• 1:24~3:29 Becoming a financial planner
• 3:29~5:27 Mother’s path to becoming a financial planner
• 5:27~10:54 The fee-only structure 
• 10:54~14:05 Clientele’s demographics and backgrounds 
• 14:05~16:51 Patterns with people who get into financial trouble
• 16:51~21:58 Client success stories 
• 21:58~22:24 A word from NGPF
• 22:24~22:50 Client success stories, continued
• 22:50~28:58 On writing Beyond Piggy Banks and Lemonade Stands
• 28:58~35:24 Activities for 10-year-olds
• 35:24~39:44 What all kids should know
• 39:44~40:31 Conclusion

Resources:

• Beyond Piggy Banks and Lemonade Stands
• Liz on Good Morning Washington

Details:

• “You don’t have to have a strict budget. The budget doesn’t have to be a form of punishment, it’s just a record of what you bring in, what you’re spending, and how much you have at the end. That’s a really important concept for kids to understand.”

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim

Ren Makino

Ren started interning at NGPF in 2014, and worked part-time through high school and college. With his knowledge growing alongside NGPF, he joined the team to work full-time after graduating from college in 2020. He is also the producer of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world.

More posts by Ren