Tim Ranzetta

/Tim Ranzetta
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About 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.

Question: What’s A Financial Adviser?

Often when talking to students about investing, a student will ask: “Can’t I just hire someone to do this?” The answer is obviously “yes” and then I will launch into my “you better something about investing to know if they are doing a good job for you” speech. I realize that is only providing half the answer, because we better teach students the “hiring” part too, as in there are lots of different financial advisors with fancy titles that they can hire. They better know who is required to have your interests first (aka, a fiduciary) and those who may be putting their own interests first.

Here is a great graphic that shows an advisor hierarchy which students can refer back to at some point in the future when they need help with their finances: 

By |March 28th, 2017|Chart of the Week, Current Events|

Podcast: How Does Scarcity (Time, Money, Relationships) Impact Our Brain?

Thanks for my friend Dan Mennel for pointing this podcast out to me: Hidden Brain: Tunnel Vision (Episode 65, 36:34)

What I like about this podcast:

The first fifteen minutes of the podcast deal with the issue of money scarcity and describe how our brains are wired to handle it and how our responses often meet short-term needs at the expense of our long-term goals.

From Hidden Brain website: When you’re hungry, it can be hard to think of anything other than food. When you’re desperately poor, you may constantly worry about making ends meet. When you’re lonely, you might obsess about making friends. This week on Hidden Brain, we explore the psychological phenomenon of scarcity and how it can affect our ability to see the big picture and cope with problems in our lives.

  • Timeline:

Resource Lists for Financial Educators (courtesy of Barbara O’Neill of Rutgers Cooperative Extension)

What does a distinguished professor do during her sabbatical? Curate personal finance resources, of course! In this blog post, Barbara O’Neill shares the fruits of her hundreds of hours of labor in putting together three awesome resource lists (see bottom of post for links to her lists), including what what she considered the “best of the best” from the NGPF library. As she describes below, the purpose of her odyssey was to replenish her “well” of creative learning activities. I hope that your “well” overflows as you find resources that will work in your classroom. Thank you Barbara for this tremendous gift to the community! Your commitment and dedication to improving financial literacy in this country inspires us.

NGPF Podcast: Tim Talks to Passionate and Creative Educator, Andrea Stemper of Palmer High School (CO)

Andrea-150x150

Thanks to Andrea Stemper of Palmer High School in Colorado Springs for the great conversation that we had recently. I got to know Andrea last summer at the inaugural NGPF Summer Institute. I was impressed by her passion and creativity as she shared lots of great activity ideas that she developed for her students. In fact, we turned one of those ideas into an activity “Let’s Make A Mutual Fund” for our new Teach Investing in Two Hours lesson (see Resource #7 for the activity). In this podcast, you will hear Andrea’s process for developing new projects, how she has advocated for financial education in her community and the message she would like for her all of her students to walk away with after taking her course. Enjoy!

Details:
By |March 27th, 2017|Advocacy, Current Events, NGPF Fellows, Podcasts|

Articles: The History of the Department Store and the Modern Day Department Store Destroyer

Two articles that I thought your students might enjoy since shopping seems top of mind for many teens. I think these would be particularly good as a supplement for your investing or entrepreneurship lessons. One article describes the rise of the department store (Inventing the Department Store in Barrons; about 5 minutes reading) and the other describes the modern day Leviathan that is destroying department stores and other competitors too (Amazon: Primed from the Economist (three articles free per week); about 15 minutes reading).

A Q&A follows focused on the key takeaways from the readings.

Some highlights from the Barrons article:

What led to the first department stores being opened in London? 

As affluence increased in the 18th century and the Industrial Revolution made more goods available, shopping began to evolve into what would become the department store. The first ones began by catering to the most common type of shoppers, women. The first real department store, Harding, Howell & Cos.’ Grand Fashionable Magazine, opened in London in 1796. Its four departments carried furs, jewelry, dresses, and hats, and accessories such as lace and gloves.

Who brought concept to US? Alexander Stewart

What was his insight that led to their popularity? 

History Lesson: The Dow Jones Industrial Average Since 1896 In One Chart

Great infographic showing the price action for the Dow Jones Industrial Average over the past 130 years with historical milestones along the way (click on the graphic to enlarge it):

By |March 26th, 2017|Chart of the Week, Index Funds, Investing, Math, Research, Stocks|

What’s an NGPF FinCamp?

NGPF is committed to providing educators with a robust set of professional development opportunities. These range from asynchronous offerings (podcasts, NGPF blog posts, flash surveys and Q&A Forum) to real-time (PLCs and monthly webinars) to in-person (workshops at state and national conferences and NGPF Summer Institute). We developed FinCamp to provide teachers with a one-day workshop focused on collaboration, curation, creation and content.

We completed our first FinCamp in early March in Palo Alto, California (thanks to the 28 attendees!) and here’s what participants had to say:

  • THANK YOU!!!!! I share your vision!
  • This was so well done! You made us feel welcome and valued, and the information shared was amazing!!!! Can’t wait to use your resources!
  • Thank you! It was great! I hope to convince my school to create a semester course and I could absolutely do it with your resources.
  • Thank you. I have been to a lot of these [PD sessions] over the years. Too many times I felt that they  [organizers] were asking use to do all the work so they could benefit from our work. You have flipped this concept and showed what you have created to help me help my students.”

FinCamp has been developed with the 4Cs in mind: collaboration, curation, creation and content:

By |March 26th, 2017|Uncategorized|

Question: What Financial Products Should A Young Person Use To Manage Their Money?

Hanging out on the Boglehead Forum today skimming the topics that have received the most replies. Forums seem so “old school” in this age of social networks (Facebook, Twitter, SnapChat) but the ones that have survived and thrived have done so for a reason. For those not familiar with the Boglehead Forum, the forum is named in honor of John Bogle, founder of Vanguard Investments, and attracts knowledgeable, thrifty investors passionate about sharing their knowledge in a variety of topics. Anytime I descend into the rabbit hole of a forum thread, I find myself wiser for the time invested. Students need to know where to go for reliable, credible sources for financial information.

I thought your students would benefit from this thread titled “College-bound teens and finances,” since it takes a holistic view on how to set up a young person for financial success from a parent’s perspective (other people’s parents which probably helps:) Here was the opening question on the thread: