Monk, personal finance educator, Marine and financial advisor. That's just part of Doug Lynam's CV which makes for a fascinating podcast. Doug shares how each of these experiences has shaped him and ultimately led to his current role as money manager. You will also learn about the motivation and key insights from his current book, From Monk to Money Manager. Enjoy!  

• 0:00~1:12 Introduction
• 1:12~6:46 Early experiences with money
• 6:46~9:27 First job and lessons learned
• 9:27~15:14 Joining a monastery
• 15:14~22:22 Life as a financial advisor
• 22:22~22:47 A word from NGPF
• 22:47~25:35 What Doug did right as a personal finance teacher
• 25:35~26:48 Lessons from the Marine Corps
• 26:48~29:53 Bringing values into class
• 29:53~33:40 How can money bring good?
• 33:40~37:02 Motivating others to use money for good
• 37:02~38:36 Billionaires that give back
• 38:36~40:18 Managing money more effectively
• 40:18~43:03 The Holy Trinity of Finance
• 43:03~44:34 Sustainability and investing
• 44:34~52:07 Lightning round
• 52:07~53:28 Conclusion 

Resources:

• Doug Lynam Website
• From Monk to Money Manager: A Former Monk’s Financial Guide to Becoming a Little Bit Wealthy --- and why That’s Okay by Doug Lynam
• LongView Asset Management
• Dimensional Fund Advisors
• Naked Economics by Charles Wheelan
• How to Be Richer, Smarter, and Better-Looking Than Your Parents by Zac Bissonnette

Quotes:

• “Money absorbs the intentions of the user and it’s not morally neutral. You can use it and shape it to achieve whatever outcome you want in the world with the confines of reality, of course. But you can use it to shape your reality and the lives of those around you.”

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.

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.