Jan 19, 2017

NGPF Podcast: Tim Talks to Author, Columnist and Personal Finance Advocate Beth Kobliner

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I had a great conversation with Beth Kobliner recently. Beth has an incredible personal finance focused CV. She’s been a columnist at Money Magazine, authored one (and soon to be two) New York Times Bestsellers (Get a Financial Life: Personal Finance in Your Twenties and Thirties), served on the President’s Advisory Council on Financial Capability, and gave financial advice to Elmo on Sesame Street (and a whole lot more too)! In this NGPF podcast, Beth shares the money lessons she learned growing up in Queens, New York as well as the motivation for her latest book, Make Your Kid a Money Genius, to be released in February. You will benefit from Beth’s insights on how to invest, use credit cards wisely and a simple test to control those impulsive purchases. Parents will find Beth’s new book a godsend in describing developmentally appropriate actions to build that financial decision-making muscle that your children need to thrive in this financially complex world. Enjoy!

  • 1:00~1:03 – Introduction
  • 1:03~4:56 – Early lessons about money
  • 4:56~8:43 – Inspiration for Make Your Kid a Money Genius
  • 8:43~11:56 – Teacher’s confidence with teaching personal finance
  • 11:56~14:55 – Importance of starting a Roth IRA
  • 14:55~18:34 – Benefits of index funds
  • 18:34~19:01 -A word from our sponsor, Next Gen Personal Finance
  • 19:01~21:42 – A young adult’s first credit card
  • 21:42~25:20 – Establishing credit without a credit card
  • 25:20~27:11 – Shirley’s rule about purchases
  • 27:11~31:29 – Paying for college
  • 31:29~32:51 – Importance of completing the FAFSA
  • 32:51~34:03 – Conclusion
  • “I think that Roth IRAs are basically mis-named. Instead of calling them individual retirement accounts, they should be known as “a super smart place to save your money” or something sexier than that.”
  • “Sure, it’s convenient to have your child as an authorized user and it sounds great to give your credit card to your child for emergencies but I would say you should think about it really carefully. If you do decide to give your child a credit card, you have to establish really clear rules for how the card is used.”

About the Author

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.

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