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097R | The Good Dad Project

  • Jonathan gives an update on his vegan experiment.
  • Adopting a meatless diet was relatively easy, but going all-in vegan is more challenging.
  • Dr. Dahle, from Monday’s episode, pioneered DIY personal finance.
  • No one has a more personal interest in your personal finance than you do.
  • What makes Dr. Dahle’s ‘investing policy’ so valuable?
  • Larry Hagner, founder of The Good Dad Project, comes on the show and talks about how and why he started the project.
  • The biggest lessons Larry’s learned along the way:
    • Don’t come home with a wallet full of money and a house full of strangers.
    • Constantly date your wife.
    • Isolation is the enemy of excellence.
  • It’s easy to share life’s wins, but when things are difficult, it’s easiest to withdraw from community.
  • After Brad was a guest on Larry’s podcast, he’s made some significant changes to his financial mindset.
  • Early in his marriage Larry managed their finances, paying off $80k of debt, but doing it in a somewhat reckless manner.
  • Managing finances together with his wife, as a team, is crucial to Larry.
  • Did Brad or Jonathan have any financial education growing up?
  • Larry has started putting money into an account that he can use to pay off their mortgage in 7 years or less.
  • He and his wife are buying a rental property to assist with paying off his mortgage.
  • Automating payments/withdrawals will dramatically increase the chances that you will follow through on your investment plans.
  • What does it actually take to feed four hungry boys?
  • Larry and his wife are trying out strategies for where to shop, and how to shop for food.
  • Larry talks through the logic behind the way he budgets for all the ‘unexpected’ or inconsistent expenses that come with life.
  • Larry is experimenting with allowance for his boys:
    • A higher allowance for his older boys = they’re responsible for haircuts, purchasing clothes, putting money in savings and giving 10% for charity.

Resources mentioned:

Sweet Korean Lentils Vegan Pad Thai “ChooseFI: Stock Market, Tax and Retirement Hacks” – The Good Dad Project
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