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.

Video: How Can We Overcome Our Behavioral Biases Against Saving?

Hat tip to Vikram Parekh of USAA (podcast upcoming) for highlighting the work of one of his favorite behavioral economists, Shlomo Benartzi of UCLA’s Anderson School of Business. In this 17 minute TED video, Shlomo highlights the hurdles to saving and how he designed a savings program (“behavioral economics on steroids”) to overcome these challenges. He provides some good examples that you might use with your students to show how our behavioral biases cause us to fall short of our intentions and how we should design our a savings plan to meet our goals.

Here are my notes:

Interactive: What Does $1,500 In Monthly Rent Buy You in Different Markets?

Visual Capitalist provides a great interactive tool for your students to see the wide disparity in the cost of living as seen through rental costs:

With rental prices across the country continuing to rise from this demand, there is one question on the minds of many Americans: how and where can dollars spent on housing be stretched the furthest?

Why is this important to know? Largest cost item for young people living on their own will be that monthly rent check so they better have a realistic view of what these costs look like in their target cities.

My favorite tool has a slider bar which allows a user to select a monthly rental amount and shows how much square footage that would buy you. I know that right about now you are thinking that your rental dollar doesn’t go very far in New York City or San Francisco! (Note: This is a screenshot of only a portion of the chart):

Their other graphic shows what $1,500 buys you in terms of square footage, as represented by the size of the boxes in this chart (when you roll your cursor over the chart on the website, you see the sq. footage):

What Would You Do If You Owned the World’s Best Investing Contract?

Hat tip to Sid Sharma for pointing out this fascinating article. Imagine knowing stock prices one week into the future? Better yet, imagine getting these future stock prices every week for the rest of your life. Such is the plight of Max Herve-George as featured in this story in the Independent

UPenn “The Process” Podcast: College Rankings, SAT vs. ACT and Financial Aid Process

Part 2 of the UPenn “The Process” Podcast series continues with conversations about college rankings, whether to take the SAT and/or ACT, the Financial Aid process and the college essay. Here’s a summary of the notes from the podcast:

By |July 10th, 2017|Paying for College, Podcasts|

A Simple Approach to Investing (Podcast and Article)

I just got back from a ride to the coast listening to Meb Faber’s podcast with surgeon and investor Bill Bernstein. I have read a bunch of Bill’s books (Intelligent Asset Allocator, Four Pillars of Investing, Investor’s Manifesto) and he has had quite an impact on my approach to investing (index funds, tilt towards small cap and value). Bill has a great quote in the podcast that really resonated with me: “Investing is simple but not easy.”

First, the simple. He espouses a three fund approach to investing: 1/3 U.S. stocks, 1/3 International stocks and 1/3 U.S. Bonds. Later in the podcast he makes it even simpler by advocating for one Target Date Fund that matches up with your expected retirement date. Pretty simple right?

Why isn’t it easy?

Want to Stay Current on All Things Financial? Read the NGPF Blog!

We have a daily discipline at NGPF to create 2 blog posts (our Daily Dose) every weekday during the year which amounts to 500 posts per year. It takes a total team effort to accomplish with ideas springing from all our full-time team members (and interns too!) Why do we do this?  1) It forces us to stay current on the fast-changing world of financial services. 2) It scratches an itch of mine to be creative and come up with ideas on how to bring current events into the classroom in an engaging fashion 3) These posts become a source for future curriculum that we develop. For example, many a Question of the Day, Interactive, Video Library and Data Crunch stemmed initially from a blog post.

We take great pleasure in finding ideas and inspiration for these posts “off the beaten path.”  I wanted to gauge how broadly we search by analyzing the number of sources we relied upon for the 287 posts we completed in the first half of 2017. Drumroll please….I turned this analysis over to our interns, Grace and Nupur, who found that the content for our blog posts came from over 250 different sources

Here were the Top 20 NGPF Blog sources with the number of times they were cited in a blog post in the first half of 2017:

By |July 9th, 2017|Uncategorized|

NGPF Podcast: Tim Talks To Charles Best, Founder of DonorsChoose.org

Today, you will hear from an amazing social entrepreneur, Charles Best, founder of DonorsChoose.org. Ask any teacher about his organization and you will see their eyes light up and inevitably hear these words “I love DonorsChoose.org” Why? They have channeled hundreds of millions of dollars from citizen-philanthropists to support teacher projects in classrooms throughout the country. He was crowdfunding for public schools long before it became “a thing.” Here are some examples of financial literacy projects currently up on their site and how DonorsChoose.org brought financial education to over a thousand classrooms this spring.

What has impressed me about Charles over the years has been his laser focus on impact (here is how his organization measures it), his management prowess at scaling DonorsChoose.org and how he has created a mission-driven organization enabling him to build an A+ team. If you haven’t used DonorsChoose.org, you definitely should, and if you have used them, you will enjoy hearing the origin story while also getting some tips on how to make your next project a success. Thank you Charles for creating such an amazing organization that is making such a difference!

Details:

By |July 9th, 2017|Entrepreneurship, Front Page Spotlight, Podcasts|

NGPF FAVORITES: Our Best OFF TO COLLEGE Resources

This month’s NGPF Favorites List comes from Sid Sharma – one of NGPF’s veteran “Power Interns” who has been with us for 3 years. Sadly, we will wish him well as he heads off to college this fall! We wanted Sid to reflect on his NGPF experience (he has literally “touched” every element in the NGPF curriculum) and highlight the resources that have enabled him to become the knowledgeable, action-oriented, process-innovator that he is today! Thanks to Sid for all of his contributions!
Without further adieu, Sid‘s “Off to College Resources”…