112: TJ van Gerven - Millennials' Homeownership Secrets Unveiled

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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.

📺 Watch on YouTube

https://youtu.be/ATG2dn18R4I

Key Takeaways

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

Tweetable Quotes

"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."

Guest Resources

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

For all the free stuff at Mindful Money: https://mindful.money/resources

To buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369

To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763

Subscribe to Jonathan’s Weekly Newsletter: https://courses.mindful.money/email-opt-in

Capture the most important benefit of an advisor – behavioral support – without the 1% fee: https://courses.mindful.money/membership

For more complex, one on one financial planning and investing support with Jonathan or a member of Jonathan’s team: https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/

Website: https://mindful.money

Jonathan on LinkedIn: https://www.linkedin.com/in/jonathandeyoe

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