514 | The More I Tinker, The Worse it Gets | Jeremy Schneider

In this episode: simplifying your financial life, Jeremy’s journey, dividend versus reinvesting, and automation.

This week we are joined by Jeremy Schneider of Personal Finance Club and co-founder of Nectarine, where we will be discussing the beginnings of his personal investment journey and what that looks like now, striving for simplicity while adding value to your life, as well as discuss the ins and outs of his platform Nectarine. Part of the journey to FI is about finding hacks and ways to make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive! 

Jeremy Schneider:

• Website: personalfinanceclub.com
• Instagram: @personalfinanceclub

🔑 Key Themes Discussed:

• The pitfalls of overcomplicating personal finance and investment strategies
• The power of simplicity in financial management and investing
• Mistakes made in early investing: complex ETFs vs. simple index funds
• Jeremy’s journey from selling his company to managing a $2M windfall
• The surprising truth about target date funds and why simplicity often wins
• The concept of “the more I tinker, the worse it gets” in investment strategies
• Personal finance habits that persist from childhood and their impact on adult financial decisions
• Dividends vs. reinvesting: pros, cons, and psychological aspects
• Understanding the differences between fiduciary financial advisors and those incentivized to sell products
• Why financial simplicity and automation can lead to better outcomes

🕒 Chapters:

• 00:00 – Introduction to Jeremy Schneider
• 02:00 – Simplicity vs. Complexity in Financial Decisions
• 03:30 – Jeremy’s $2M Windfall and Early Investing Mistakes
• 06:00 – Complex ETFs vs. Target Date Funds
• 08:00 – How Tinkering Can Lead to Worse Financial Outcomes
• 12:00 – Personal Finance Habits from Childhood
• 14:00 – Dividend Reinvestment: To Reinvest or Not?
• 18:00 – Simplifying Financial Life: Automating Investments
• 22:00 – The Dangers of Chasing Dividends
• 26:00 – Real-Life Examples of Bad Financial Advice
• 33:00 – The World of Financial Advisors: Fiduciary vs. Salespeople
• 39:00 – The Importance of Finding Unbiased, Advice-Only Financial Guidance
• 46:00 – Jeremy’s Key Takeaways on Simplicity and Financial Independence

🔗 Mentioned Links and Resources:

• The 7 Sins of Investing
• Nectarine
• Subscribe to The FI Weekly!

More Helpful Links and FI Resources:

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)
• Get a cheaper phone plan with Mint Mobile