Jonathan Clements is no stranger to the NGPF podcast (here and here), and he’s back to introduce his newest book, From Here to Financial Happiness: Enrich Your Life in Just 77 Days. This book elicits active participation from the reader from day one of their financial journey until the last. Readers will answer 31 questions in their quest for financial happiness including such toughies as...

• If money were no object, what would you change about your life AND
• When was the last time you talked honestly about your finances with somebody?

In addition, I turn the tables on Jonathan and ask him about his three best money decisions and three biggest financial mistakes. He ends on a high note that college students carrying debt should certainly take note of. Enjoy!

Details

• 0:00–1:10 Introduction
• 1:11–6:17 Jonathan’s scoop on From Here to Financial Happiness
• 6:18–8:11 The fundamental importance of compounding interest
• 8:12–10:11 Meeting the magical “tipping point” after a tough dozen years
• 10:12–13:45 “Hyperbolic discounting” and bringing retirement to life
• 13:46–14:55 How the book is more of a conversation with the author and with yourself
• 14:56–17:03 What are the most difficult questions readers have to answer?
• 17:04–18:53 Jonathan’s favorite pithy comments
• 18:54–21:16 Most annuities are sold, not bought
• 21:17–21:51 A word from NGPF
• 21:52–25:26 Why experiences greatly outweigh possessions
• 25:27–32:36 His 3 best and worst financial decisions
• 32:37–36:03 Human capital, the key concept to investing
• 36:04–37:09 Conclusion

Resources mentioned

• Psychologist Mihaly Csikszentmihalyi on finding flow
• Jonathan’s Blog: Humble Dollar

QUOTES:

• “The meek may not inherit the earth, but they are far more likely to retire in comfort”
• “I have a lot of scorn for overly complicated and overly expensive financial products that get cooked up on Wall Street… So I say, ‘In the financial world, complexity may suggest sophistication, but it’s usually a rouse to bamboozle and fleece investors.'”

About the Authors

Danielle Bautista

Danielle is a native of Southern California and a recent graduate from the University of Maine, where she braved the frigid winters—a feat in and of itself—and earned her Bachelor's degree in International Affairs. She has a passion for working with non-profit organizations and serving populations in underprivileged communities. When Danielle isn't writing NGPF blog posts, spearheading various outreach projects, or managing contests and flash surveys, you can find her doing some sort of outdoor activity, learning a new hobby, or cracking what she thinks are witty puns!

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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