Megan Gorman on U.S. Presidents, Their Personal Money Stories, and How They Built Wealth — Or Didn’t

I’m so pleased to have on the show today Megan Gorman, who wrote a very compelling book called All the Presidents’ Money: How the Men Who Governed America Governed Their Money, which is out September 24. Before we get into the book — which isn’t that such a great idea and such a great title? — let me tell you a little more about Megan: she is the founder and managing partner of Chequers Financial Management, a female-owned high-net-worth tax and financial planning firm. Her clientele ranges from entrepreneurs to corporate executives to inheritors of family wealth. She is an attorney by training and is passionate about the problem solving required to work in the world of complex financial planning. She has been named to Forbes’ list of America’s Top Women Wealth Advisors and was a vice president at Ayco, a Goldman Sachs company, and BNY Mellon Wealth Management prior to launching her own firm. Megan is a senior contributor at Forbes, where she writes about personal finance and income tax, and she is frequently cited across prominent financial media outlets, including The Wall Street Journal, The Washington Post, and CNBC. She has now written the brilliant All the Presidents’ Money: How the Men Who Governed America Governed Their Money, where she dives deep into the personal finances of the presidents. As she writes, “most of their money problems are just like ours.” In the book, Megan teaches readers what president is the best at money (and he may surprise you!), and who is worst with money. Interestingly, Megan writes that, when it comes to solid financial advice, “if you ever asked me what is the best thing you could do financially, my answer would be quite succinct: get married and stay married.” We talk about First Ladies, too, and about financial advice for the presidents and for us; Megan writes about financial fragility and financial resilience, and how “In many of the presidents’ stories, financial fragility is a common theme.” We talk about what grit has to do with wealth, how the American dream is still there but much harder to attain in present times, and so much more. Studying the U.S. presidents and their personal money stories and how they built wealth — or didn’t — is incredibly fascinating. Take a listen.

All the Presidents’ Money: How the Men Who Governed America Governed Their Money by Megan Gorman