84 episodes

Why is personal finance so complicated? Even worse, the Internet is full of personal finance “experts” providing short-sighted, error-prone, and outright bad financial advice.

Jesse Cramer has a knack for using everyday experiences to make personal finance accessible for the average investor. His extensive research coupled with skilled narrative makes personal finance actually enjoyable.

By day, Jesse works for a fiduciary wealth management firm in Rochester, NY. By night, he runs The Best Interest - nominated in 2022 for "Personal Finance Blog of the Year.”

The Best Interest simplifies personal finance and investing to make your life easier, smarter…and a little richer, too. Come invest in knowledge with The Best Interest.

The Best Interest Podcast Jesse Cramer

    • Business
    • 4.9 • 68 Ratings

Why is personal finance so complicated? Even worse, the Internet is full of personal finance “experts” providing short-sighted, error-prone, and outright bad financial advice.

Jesse Cramer has a knack for using everyday experiences to make personal finance accessible for the average investor. His extensive research coupled with skilled narrative makes personal finance actually enjoyable.

By day, Jesse works for a fiduciary wealth management firm in Rochester, NY. By night, he runs The Best Interest - nominated in 2022 for "Personal Finance Blog of the Year.”

The Best Interest simplifies personal finance and investing to make your life easier, smarter…and a little richer, too. Come invest in knowledge with The Best Interest.

    Fight, Flight, and Friction: Being Smart in Your Volatile Portfolio | Carl Richards - E83

    Fight, Flight, and Friction: Being Smart in Your Volatile Portfolio | Carl Richards - E83

    Jesse starts this episode with a confession: money still stresses him out. The four ways that Jesse reduces this stress are remembering what’s going right financially, prioritizing spending, working hard, and remembering that others have walked this path. 
     
    Then, with another call back to his blog, Jesse invokes Marshall McLuhan’s quote “the medium is the message” when sharing from his post, “The Friction is the Message”. 
     
    Today’s guest is Carl Richards, the creator of the Behavior Gap, author of The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money, and host of Behavior Gap Radio. Not only has Carl been featured on Oprah.com and Forbes.com, he’s the creator of the Sketch Guy column which ran weekly for a decade in The New York Times. In this episode, Carl gives us some great insight into how we can refocus ourselves and our finances on what really matters to us.
     
    If you’re interested in not only financial planning, but time, energy, and attention planning, too, then this is the episode for you!
     
    Key Takeaways:
    • 4 ways Jesse reduces his financial stress.
    • Friction as a bad thing, and friction as a good thing.
    • Why you should invite imposter syndrome in.
    • What is the Behavior Gap? 
    • How to choose your financial advisor.
    • How to manage your money, time, energy, and attention.
     
    Key Timestamps:
    (02:10) Jesse’s Monologue: Money Still Stresses Me Out  
    (07:24) Managing Financial Stress: Four Key Reminders  
    (13:42) The Friction is the Message  
    (22:14) Carl Richards Joins the Conversation  
    (28:48) Why Carl Shares  
    (30:41) Overcoming Fear, Anxiety, and Imposter Syndrome
    (39:02) The Behavior Gap in Investing  
    (44:48) The Value of Real Financial Planning with a Real Advisor
    (52:28) Conclusion and Resources
     
    Key Topics Discussed:
    The Best Interest, Jesse Cramer, Rochester New York financial planning, financial stress, human capital, personal energy, mental attention, financial advisor, imposter syndrome, financial anxiety, the Behavior Gap, the Friction is the Message
     
    Mentions:
    Website: https://behaviorgap.com/ 
    LinkedIn: https://www.linkedin.com/in/thinkingcarl/ 
    Mentions: 
    https://bestinterest.blog/money-still-stresses-me-out/ 
    https://bestinterest.blog/the-friction-is-the-message/ 
    https://bestinterest.blog/selling-and-surviving/
    https://behaviorgap.com/radio/ 
    https://www.50fires.com/ 
     
    More of The Best Interest:
    Check out the Best Interest Blog at bestinterest.blog
    Contact me at jesse@bestinterest.blog
     
    The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

    • 55 min
    “Truth: We Are Very Bad At Anticipating What We Want” | Jonathan Clements - E82

    “Truth: We Are Very Bad At Anticipating What We Want” | Jonathan Clements - E82

    Jesse begins today’s episode with a short monologue on the highs and lows of money. Can money buy happiness? Or are they uncorrelated? Either way, money can certainly buy flexibility and optionality. Jesse collects insights from Thom Yorke, Matthew Killingsworth, Danny Kahneman, and Angus Deaton.
     
    Today’s guest is Jonathan Clements, the founder and editor of Humble Dollar, the author of My Money Journey and How to Think About Money. Clements spent nearly 20 years at the Wall Street Journal as their lead personal finance columnist. He shares why we need financial goals that fulfill us, why he plans to continue working, and how we can plan financially for retirement, but why that shouldn’t be the end goal of our financial journey. 
     
    If you’re interested in long-term financial planning that will set yourself up for success, then this is the episode for you!
     
    Key Takeaways:
    • How to strike the balance between spending and saving.
    • Why you can never know what you’ll really want in the future.
    • We need personal fulfillment goals, not just financial goals.
    • Jonathan’s retirement plan is ICE over FIRE.
    • How to invest not only for retirement, but also for your heirs’ inheritance.
     
    Key Timestamps:
    (01:54) Jesse’s monologue: Can money buy happiness?
    (09:15) Introduction to Jonathan Clements
    (10:30) My Money Journey
    (12:40) Switching from saver to spender
    (15:50) We can’t predict the future
    (21:43) 8 traits successful people have in common
    (24:25) ICE: I’ll Continue Earning
    (28:46) Annuities and Social Security
    (36:29) Setting the next generation up for success
    (44:40) Close
     
    Key Topics Discussed:
    The Best Interest, Jesse Cramer, Rochester New York financial planning, immediate fixed annuities, lifetime income annuities, equity and indexed annuities, Roth IRA, Social Security, retirement wealth planning
     
    Mentions:
    Website: https://humbledollar.com/ 
    Jesse’s Radiohead article:  https://humbledollar.com/2024/05/happy-conclusion/
    LinkedIn: https://www.linkedin.com/in/jonathanclements/ 
    How to Think About Money:  https://amzn.to/3yHtlth
    My Money Journey: How 30 people found financial freedom - and you can too:  https://amzn.to/3Kw91NO
     
    More of The Best Interest:
    Check out the Best Interest Blog at bestinterest.blog
    Contact me at jesse@bestinterest.blog
     
    The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

    • 47 min
    "Is My 100% S&P 500 Portfolio Wrong?" | AMA with Jesse - E81

    "Is My 100% S&P 500 Portfolio Wrong?" | AMA with Jesse - E81

    On today’s episode, we bring you something a little different. Jesse’s collected a series of questions from newsletter subscribers and will answer them in today’s AMA (Ask Me Anything). Jesse answers into which accounts young people should be putting their money. Other questions answered are: Is getting to your “Coast FI” a good idea? How to balance which accounts you’re putting money into and how your goals might change that. How can you financially prepare for parenthood? Why you should diversify your investments, even if your lack of diversification is working for you. What are “Roth Conversions”? And how can we make the most of tax diversification? If you’re interested in hearing Jesse’s answers to these questions, then this episode is for you. If you’d like a question in a future AMA, send Jesse a message!
     
    Key Takeaways:
    When should I put money into my Roth IRA vs. my Traditional 401k?
    We don't know the future. So, diversify.
    What Jesse’s doing to prepare financially for parenthood.
    How clear goals can get you more specific guidance when financial planning. 
    When and how you can do “Roth Conversions”.
     
    More of The Best Interest:
    Check out the Best Interest Blog at bestinterest.blog
    Contact me at jesse@bestinterest.blog
     
    The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

    • 37 min
    Beware! Don’t Fall Into “The College Money Pit Trap!” | Evan Giokas - E80

    Beware! Don’t Fall Into “The College Money Pit Trap!” | Evan Giokas - E80

    Jesse starts this episode discussing his “50/50 rule” of college savings. Jesse also talks about 529-to-Roth conversions (why they’re overrated!), the FAFSA, and other financial tools at our disposal for college planning. 
     
    Evan Giokas then joins the show to dive deeper into a college admissions conversation. Evan is the founder of The College Confidence Coach, which helps students through their higher educational journey. Evan covers what a “conative assessment” is,  how to be cost-conscious when preparing for college, how to start college conversations with your child, and the importance of showing your values to college admissions staff..
     
    If you’re preparing a child for college, this is the episode for you!
     
    Key Takeaways:
    How to start the college conversation with your child 
    What is the Conative Assessment? 
    What is the college money pit trap?
    How to be cost-conscious in college planning
    How to optimize your FAFSA
    The “50/50 Rule” for college saving
    The pros and cons of 529–to-Roth conversions
     
    Mentions:
    🌐 Website: https://www.thecccoach.com/ 
    👉🏼 LinkedIn: https://www.linkedin.com/in/evan-giokas-56443746/ 
    📚 The Important Details Behind 529-to-Roth Conversions: https://bestinterest.blog/the-important-details-behind-529-to-roth-conversions/
    📚 Follow the 50/50 Rule for College Saving: https://bestinterest.blog/the-50-50-rule-for-college-saving/
    📚 University of the People: https://www.uopeople.edu/ 
     
    More of The Best Interest:
    Check out the Best Interest Blog at bestinterest.blog
    Contact me at jesse@bestinterest.blog
     
    The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

    • 1 hr 11 min
    Health = Money = Time | Phil Pearlman - E79

    Health = Money = Time | Phil Pearlman - E79

    In episode 79 of The Best Interest Podcast, host Jesse Cramer discusses the intricate relationships between health, wealth, and time with guest Phil Pearlman. Jesse starts with his usual monologue, explaining and establishing that health, money, and time are all interchangeable resources that many people trade-off throughout their lives. Jesse and Phil then delve into how health decisions significantly impact financial standing and overall quality of life, emphasizing the importance of viewing health as an investment in one's future. Phil, transitioning from a finance profession to focusing on personal health, shares his insights on behavioral finance, the importance of making conscious decisions regarding health and finance, and the impact of societal trends on individual well-being. Additionally, Phil discusses his unique approach to personal health, advocating for self-experimentation and critical thinking in navigating health advice. The conversation also touches upon cultural aspects of addiction and the power of individual choice in improving one's health, wealth, and time. Finally, Phil shares information about his work at the Pearl Institute and his dedication to helping people make better health and life decisions.
     
    Key Takeaways:
    How physical health is a critical aspect of financial health.
    Health will allow you to enjoy your wealth.
    Phil’s holistic approach to health and how it includes finances.
    Why you need to imagine yourself in the future.
    How to see your future self as a real person, and consider their needs.
    Why you should be a scientist and your most important subject!
    You don’t have to be a statistic.
     
    Mentions:
    🌐 Website: https://www.pearlinst.com/ 
    🌐 Prime Cuts Newsletter: https://primecuts.substack.com/ 
    👉🏼 LinkedIn: https://www.linkedin.com/in/philip-pearlman-1002183/ 
    📚 Rebels with a Cause by Phil Pearlman: https://primecuts.substack.com/p/rebels-with-a-cause 
    📚 Fahrenheit 451 by Ray Bradbury: https://amzn.to/3xHyaSF
    📚 Brave New World by Aldous Huxley: https://amzn.to/3U7W55j
    📚 1984 by George Orwell: https://amzn.to/3U5e2Bu
    🎥 The film Fahrenheit 451, on Vimeo  https://vimeo.com/433467090
     
    More of The Best Interest:
    Check out the Best Interest Blog at bestinterest.blog
    Contact me at jesse@bestinterest.blog
     
    The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

    • 50 min
    An Informative Debate: The Most Important Rules of Personal Finance | Justin Peters - E78

    An Informative Debate: The Most Important Rules of Personal Finance | Justin Peters - E78

    Jesse starts this episode with an engaging monologue: how exactly does The Best Interest generate revenue? Jesse answers this question and asks YOU for your help in ensuring The Best Interest continues as a terrific free financial resource. 
     
    And then Justin Peters joins for the second half of the episode. Justin hosts The Struggle is Real, a podcast about adulting through your twenties. He’s also a co-founder of SimplePod Studios, which produces The Best Interest Podcast. In this episode, Justin and Jesse discuss, compare, and contrast their top five “Golden Rules” of personal finance. If you’re looking for an insightful, fun, and fast-paced conversation, this is the episode for you. 
     
    Key Takeaways:
    How does The Best Interest make money?
    The intersection of Jesse’s professional life and The Best Interest
    Why you need to track your money!
    How gift cards trick you into spending more.
    The best investment is in yourself.
    Simple is better than complex (almost always).
    Why and how you should prepare for risk.
    Why you MUST automate your finances, as much as possible.
    Think long term, but don’t forget the present.
     
    Mentions:
    🌐 Website: https://simplepodstudios.com/ 
    👉🏼 LinkedIn: https://www.linkedin.com/in/justinleepeters/ 
    🎙️ Podcast: https://www.tsirpodcast.com/ 
    🧠 The RRTTLLU Framework: https://bestinterest.blog/rrttllu/
     
    More of The Best Interest:
    Check out the Best Interest Blog at bestinterest.blog
    Contact me at jesse@bestinterest.blog
     
    The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

    • 1 hr 12 min

Customer Reviews

4.9 out of 5
68 Ratings

68 Ratings

nyrak111 ,

Straightforward clear, concise language

Stumbled upon this after hearing about it on another podcast. I’ve listened to more than 5 already - I really like how his presentation style, I’ll be listening to more!

wrbsuperman ,

Excellent

Concise, easy to understand, responsive. My (multi)millionaire friend recommended it and it is my go-to on my drive into work!

yeirs ,

Very Helpful

I came across the podcast ~a week ago and have since listened to ~8 episodes (in no particular order). As a newbie, I find it immensely helpful & easy to follow, which is exactly what I needed. The variety of guests on the show discussing different topics have also been very helpful. I look forward to discovering more valuable content in the content library, blogs and future episodes to come.

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