The Long View

Preston Cherry: ‘Money Can Indeed Buy Happiness’

Feb 18, 2025

Dr. Preston Cherry, a finance expert and author, dives into the vital link between money and personal values. He shares insights from his book on achieving financial harmony, emphasizing that happiness can indeed stem from financial well-being. The conversation covers how to redefine retirement as a joyful pursuit, and why adapting financial plans to align with life stages is essential. Dr. Cherry also highlights the profound influence of family on financial attitudes, advocating for a balanced approach to both present enjoyment and future stability.

52:53

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Episode guests

Preston Cherry

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Episode notes

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Quick takeaways

Aligning financial decisions with personal values is essential for achieving fulfillment and creating meaningful connections with money.

Challenging the belief that 'money can't buy happiness' supports the idea that financial resources can enhance well-being when aligned with life goals.

Deep dives

Understanding Financial Harmony

Aligning life with financial goals is essential for achieving personal fulfillment. The concept of financial harmony, as introduced in the discussion, emphasizes the importance of matching financial decisions with individual values and life aspirations. This approach encourages individuals to reflect on their relationship with money, moving beyond traditional financial advice that often fails to consider personal circumstances. By recognizing that financial harmony is unique to each person, individuals can create a more meaningful connection with their finances, enhancing both their financial and personal well-being.

Intro

3min

Harmonizing Finances and Aspirations

23min

Lessons in Financial Responsibility and Adaptability

4min

Redefining Retirement and Personal Wealth

15min

Navigating Life Stage Vitality

7min

Conclusion and Call to Engage with the Podcast

3min

Our guest on the podcast today is Dr. Preston Cherry. Dr. Cherry is the author of a new book called Wealth in the Key of Life: Finding Your Financial Harmony. He’s also founder and president of Concurrent Wealth Management. In addition, he serves as Assistant Professor of Finance and Head of the Personal Financial Planning Program at the University of Wisconsin-Green Bay, where he also serves as the Director of the Charles Schwab Foundation Center for Financial Wellness. Prior to assuming his current roles, he served in lead and internal financial planning roles in institutional retirement sales. He has also served as co-investment manager at a Registered Investment Advisor and as a mutual fund wholesaler.

Background

Bio

Life Money Balance podcast

Wealth in the Key of Life: Finding Your Financial Harmony

Schwab Center for Financial Wellness

Themes in Book

“What Is Financial Freedom?” by Preston Cherry, concurrentfp.com, July 9, 2024.

“Building Wealth With Gratitude: Essential Tips for Gen X,” Life Money Balance podcast, youtube.com, Nov. 26, 2024.

“How to Retire Comfortably: Essential Financial and Emotional Tips for a Joyful Retirement,” by Preston Cherry, concurrentfp.com, Nov. 13, 2024.

Other

“Dr. Preston Cherry: ‘Money and Life Intertwined,’” The Long View podcast, Morningstar.com, Nov. 22, 2024.

Songs in the Key of Life, Stevie Wonder album