Can one become a conscious being while accumulating wealth? Today’s guest - financial planner and Buddhist - Jonathan K. DeYoe, says yes! Growing wealth mindfully is even what everybody needs in this money-focused world.

Jonathan is a California-based fee-only financial planner, the founder of DeYoe Wealth Management, an advocate of financial literacy, and the best selling author of Mindful Money, a one of a kind financial planning guide that teaches you how to save money, invest, pay off debt, fund your retirement, and pursue your dreams of financial bliss, in a mindful and conscious way.

Join us as he discusses how he developed his own philosophy of financial planning, how the practice of mindfulness and Buddhism can be applied to it, and why financial literacy is important for everyone to know.

In this episode, we’re discussing…

[02:08] From Buddhist Studies to Wall Street, how Jonathan developed his financial philosophy
[05:22] What “goal-focused and planning driven” finance means
[07:31] Goal-focused financial planning starts with what is important to you
[11:47] Elements in the overall plan of Jonathan’s financial philosophy, wealth management, low-cost retirement plan services, and mindfulness in personal finance
[16:22] The anecdote of ‘upaya’ in relation to financial planning
[19:48] A glimpse of his book, “Mindful Money”
[20:16] Jonathan shares how the exercises in the book will help you develop a financial plan the mindful way
[23:17] Why money is a significant source of stress
[24:14] Why we all need financial literacy
[26:50] How to choose a fee-only financial planner

Jonathan’s Top Tips:

“The difference between what you’re doing and what other people are doing shouldn't determine your outcomes.”
“Planning based on mindfulness is your best tool to stick with.”
“When you start knowing what makes you happy, what makes you tick, what drives you to get up in the morning, what excites you, you start understanding what those are. And these tell you what you should be doing with your life.”
“You have to find the one that works and not switch from this one to that one. Do not be concerned about what's happening outside of what you know. Find your lane and stay in it.”

“If I trade off the things that aren't so important, if I can mindfully ignore the stuff that might look fun or those which may be very interesting, but doesn't add to my long term value and the meaning for my life, and I just focus on the stuff that matters to me, I'll be happier. I'll also have better financial outcomes because I'm focusing on those things that matter to me.”
“Not judging what is good or bad, that's mindfulness. Don't judge the thing as good or bad. Slow it down.”
“Let's force ourselves to look at the long term and then let's make the decision based on that long term.”
“If you have money, you feel guilty about it. If you don't have it, you think you should have it, and you don't like those people that do have it. It's just this is the line that we've drawn in our culture that we're going to battle over. Everything is financialized and no one has a clue!”

Nichole’s Top Tip:

“Nothing happens overnight. And it doesn't happen that way, no matter what vehicle you choose - if it’s real estate investing - you do not go out and buy your first 100-unit apartment complex without either someone who has experience or you working your way up to it. All of that takes time.”

Resources:

Get a copy of Jonathan’s book, Mindful Money: Simple Practices for Reaching Your Financial Goals and Increasing Your Happiness Dividend on Amazon
Join us in the Richer Geek Subreddit!
Leave me a voicemail with your thoughts on the show!
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Resources About Jonathan:

Categories: Financial Planning, Investment, Mindfulness

Tags: Mindful Money, Savings, Investment, retirement, finance, Buddhism, mindfulness, income, money, fee-only financial planner, financial literacy, money, financing, goal-oriented, financial philosophy, asset allocation, stocks, dividends, financial philosophy, wealth management, low-cost retirement plan services, mindfulness in personal finance.

ABOUT JONATHAN DEYOE

Jonathan DeYoe is the best-selling author of Mindful Money: Simple Practices for reaching your Financial Goals and increasing your Happiness Dividend.

He writes and speaks about the intersection between love and money. He has been investing for 40 years and been a financial advisor for 25. He started his firm in 2001 and he is a big believer in financial literacy training and a big advocate for the fiduciary standard.

Jonathan is the author of Mindful Money: Simple Practices for Reaching Your Financial Goals and Increasing Your Happiness Dividend. He has led the wealth management firm Mindful Money (formerly DeYoe Wealth Management) since 2001.

Jonathan is an advocate for financial literacy education and for fiduciary responsibility in the advisory community. He believes everyone can benefit from good financial advice, but accepts people find themselves in many different situations. Not everyone needs or wants a relationship with a personal financial advisor. Many people would benefit enormously from a course in basic financial literacy.

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