• 514 | The More I Tinker, The Worse it Gets | Jeremy Schneider

  • Oct 7 2024
  • Length: 1 hr and 7 mins
  • Podcast

514 | The More I Tinker, The Worse it Gets | Jeremy Schneider

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  • Summary

  • In this episode: simplifying your financial life, Jeremy’s journey, dividend versus reinvesting, and automation. This week we are joined by Jeremy Schneider of Personal Finance Club and co-founder of Nectarine, where we will be discussing the beginnings of his personal investment journey and what that looks like now, striving for simplicity while adding value to your life, as well as discuss the ins and outs of his platform Nectarine. Part of the journey to FI is about finding hacks and ways to make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive! Jeremy Schneider: Website: personalfinanceclub.comInstagram: @personalfinanceclub 🔑 Key Themes Discussed: The pitfalls of overcomplicating personal finance and investment strategiesThe power of simplicity in financial management and investingMistakes made in early investing: complex ETFs vs. simple index fundsJeremy’s journey from selling his company to managing a $2M windfallThe surprising truth about target date funds and why simplicity often winsThe concept of “the more I tinker, the worse it gets” in investment strategiesPersonal finance habits that persist from childhood and their impact on adult financial decisionsDividends vs. reinvesting: pros, cons, and psychological aspectsUnderstanding the differences between fiduciary financial advisors and those incentivized to sell productsWhy financial simplicity and automation can lead to better outcomes 🕒 Chapters: 00:00 – Introduction to Jeremy Schneider02:00 – Simplicity vs. Complexity in Financial Decisions03:30 – Jeremy’s $2M Windfall and Early Investing Mistakes06:00 – Complex ETFs vs. Target Date Funds08:00 – How Tinkering Can Lead to Worse Financial Outcomes12:00 – Personal Finance Habits from Childhood14:00 – Dividend Reinvestment: To Reinvest or Not?18:00 – Simplifying Financial Life: Automating Investments22:00 – The Dangers of Chasing Dividends26:00 – Real-Life Examples of Bad Financial Advice33:00 – The World of Financial Advisors: Fiduciary vs. Salespeople39:00 – The Importance of Finding Unbiased, Advice-Only Financial Guidance46:00 – Jeremy’s Key Takeaways on Simplicity and Financial Independence 🔗 Mentioned Links and Resources: The 7 Sins of InvestingNectarineSubscribe to The FI Weekly! More Helpful Links and FI Resources: Top 10 Recommended Travel Rewards Credit CardsEmpower: Free Dashboard to Track Your FinancesCIT Bank Platinum Savings AccountM1 Finance: Commission-Free Investing, 1-click rebalancingCashFreely: Maximize Your Cash Back RewardsTravel Freely: Track all your rewards cards and pointsEmergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)Student Loan Planner: Custom Consult (with $100 Discount)Get a cheaper phone plan with Mint Mobile
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