SUMMARY
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In this episode, I speak with TJ van Gerven, a Financial Planner and Founder of Modern Wealth Builders. TJ shares his journey from growing up with contrasting financial influences—his father, a self-employed plasterer with a scarcity mindset, and his mother, who came from a more affluent background. We dive into how these experiences shaped his approach to financial planning, particularly for millennials. TJ emphasizes the importance of understanding time horizons when buying a home and the true costs associated with real estate, challenging the common belief that homeownership is always the best investment.

We also explore TJ's innovative approach to financial planning, including his use of a subscription model to make financial advice more accessible to younger clients. He discusses the value of focusing on cash flow, tax planning, and the importance of having a disciplined, rules-based strategy. TJ's insights are not just about numbers; they’re about helping people use their money as a tool to live better lives. Whether you're considering a sabbatical, navigating equity compensation, or just trying to get a handle on your finances, TJ's practical advice and genuine passion for helping others make this episode a must-listen.

TAKEAWAYS
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00:03:08: Early Lessons on Money and Entrepreneurship

00:07:15: Family Dynamics and Financial Lessons

00:10:24: Career Path from Virginia Tech to Financial Planning

00:13:05: Choosing Financial Services and Early Career Challenges

00:17:29: Conference Experiences and Networking

00:21:07: Financial Advisor's Circle of Competence

00:29:14: Big Issues in Financial Planning: Real Estate and Stock Options

00:32:46: Planning for Sabbaticals and Financial Independence

00:34:48: Simplifying Financial Success for New Couples

00:43:21: Impactful Travel Experiences

QUOTES
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"Millennials think that buying a house is this natural progression, and what I try to educate them on is, number one, let's focus on time horizon. That is the biggest factor for a primary residence purchase, in my experience, is understanding how long do you plan to be in this house?"
"I think the value for advisors moving forward is going to be about making people's lives better in the sense that you're helping them use their money as a tool and not necessarily about maximizing performance, because we know that's kind of commoditized and there's a lot of good solutions for that already."
"I just don't think people have the basic financial education around just the concept of compound interest. I think if people understand that with a reasonable expected return, you actually can achieve a meaningful amount of wealth if you have a disciplined saving strategy over a long time frame."

ABOUT MINDFUL MONEY
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Do you struggle with money? You’re not alone.
Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive.
The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort.
Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life.
If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you.
Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes.

GUEST RESOURCES
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Website - https://modernwealthbuilders.com
LinkedIn - https://www.linkedin.com/in/tjvangerven/
Facebook - https://www.facebook.com/modernwealthbuilders/
Instagram - https://www.instagram.com/modernwealthbuilders/?hl=en
Twitter - https://twitter.com/TJvanGerven

MINDFUL MONEY RESOURCES
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Website - https://mindful.money/
Jonathan DeYoe on LinkedIn - http://linkedin.com/in/jonathandeyoe
Mindful Money on Twitter - https://twitter.com/MindfulMoney_Ed
Mindful Money on Facebook - http://facebook.com/MindfulMoneyPlan
Mindful Money on Instagram - http://instagram.com/mindfulmoneyplan
Mindful Money on YouTube - https://www.youtube.com/c/MindfulMoney

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Podcast Production by FullCast: https://fullcast.co/sn