NGPF Podcast: Doug Lynam Describes His Transition from Monk to Money Manager

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Jun 07, 2019
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Investing, Podcasts, Behavioral Finance

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:

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 has been working part-time at NGPF since 2014, interning through high school and college. With his knowledge growing alongside NGPF, after graduating from college in 2020, he joined the team to work full time with a focus on teacher onboarding. He is also the editor of the NGPF podcast and makes sure it is accessible to teachers on iTunes, Stitcher, and Google Play Music. During his free time, he likes to try out coffees from different roasters across the world and try out new brewing methods, even though personal finance gurus tend to caution against buying a cup of joe.