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.

Article: Financial Advice From The Stars

We know how much young people look up to, mimic and try and emulate the stars. That’s why I thought this article might grab your students’ attention. Here are a few of the 11 stars that were mentioned (I have to admit that I am having a lot of “who’s that?” moments as I skim through the article, your students probably won’t).

From Bloomberg

What I Am Reading This Week (Ending April 22nd)

  • You don’t need to be rich to enjoy the best things in life (Jonathan Clements at the Humble Dollar) shares his list of the finest things in life. I might add “finding a great resource that you can share with thousands of personal finance teachers.” One of my favorite questions to ask my podcast guests is “what is the best thing that you ever bought for $10?” which proves time and again that the best things in life are often the least expensive (or FREE)!
  • Vanguard is growing faster than everyone else combined (NY Times):
By |April 21st, 2017|Uncategorized|

Question of the Day: What Are the Three Most Useful Inventions of All-Time?

Answer:

  • Most useful: Cell phone, disposable diaper and alarm clock.
  • Most important: Electricity, Internet and The Wheel

From Time Invention survey of 10,197 people in seven mature markets (South Korea, the U.S., Germany, Sweden, Australia, the U.K. and Singapore) and 10 emerging markets (South Africa, Kenya, Russia, the United Arab Emirates, China, Brazil, Turkey, India, Mexico and Indonesia).: 

NGPF Podcast: Tim Talks To Prof. Meir Statman About Behavioral Finance

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I enjoyed my recent conversation with Finance professor Meir Statman of Santa Clara University, which is just down the street from the NGPF offices. Meir conducted some of the earliest research in what we now know as behavioral finance. He discusses his book, Finance for Normal People, and shares his insights about how investing should be taught in school (spoiler alert: Keep It Simple!). He also describes his approach to playing the stock market game and why fees matter so much when comparing investment options. You will know more about investing after you listen to Prof. Statman. Enjoy!
Details:

What’s New In Financial Education Research?

Hat tip to Brian Page for reminding me about the recent Cherry Blossom Financial Education Institute held in early April. Here’s a summary of a few of the papers that were presented that you might be interested in:

Timing is Everything: What’s the Impact of Graduating Into A Recession?

What happens to young people who have the misfortune of graduating into a recession? That’s the question that researcher Bart Cockx of Ghent University, Belgium, and IZA, Germany tries to answer (here’s his one-pager  summarizing the research.) This research provides further evidence of importance of education as demonstrated by the differing outcomes based on educational attainment.

I found this research of interest since I saw this phenomenon first-hand in my family. My older brother graduated from college into a recession in 1981 and struggled to find work. He took a job as a bellhop to get out of the house and ultimately talked his way into an interview and then into an engineering job (yes, initiative does matter!). So, it took him about six months after graduating to find this job. Clearly his technical degree (engineering) came in handy and then once he got that good-paying job in his field his career was back on the right track.

Now onto the key takeaways from the research:

By |April 19th, 2017|Article, Career, Current Events, Employment, Research|

Chart of the Week: What Are Your Two Favorite Platforms for Watching “Television?”

 

The answer to this question has budgetary implications given how the cost differential between the platforms. If you are a millennial, your top four platforms, based on a recent survey, are:

  • Netflix
  • Cable TV
  • Hulu
  • Amazon Prime

Hat tip to VisualCapitalist for this infographic: 

Question: What’s the Average Credit Score In Your Community?

Update of an earlier post from January 2016 (we like to keep things current around here:)

Here’s where the data came from for this report:

In order to identify the cities with the highest and lowest credit scores, WalletHub’s analysts compared the average credit scores of residents in each of 2,534 U.S. cities as of October 2016, based on TransUnion data.

Click on a dot in the map near where you live to determine how your community’s credit score compares with the rest of the country: