Episode 9

Published on:

27th May 2022

009: Jennifer Rayner - Feel Better, Do Better: A New Perspective on Money & Financial Wellbeing

Jennifer Rayner is a retirement plan consultant and the founder of Moniwell, a revolutionary text-based financial wellbeing program. She and Jonathan share a passion for financial literacy and a recognition that people need easily accessible education customized to their needs at a particular time.

Today, Jennifer and Jonathan engage in a discussion about employer-offered retirement plans, how to differentiate between participation and engagement of these plans and what inspired Jennifer to launch Moniwell. Jennifer speaks to the importance of financial self- efficacy, provides some sage advice on what employees can do right now to enhance their financial wellbeing and discusses her non-profit organization, Mindfulness of Money.

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Key Takeaways

01:11 – Jennifer Rayner shares some of the financial mistakes she made in her early life, her resiliency as an entrepreneur, and her passion for financial literacy

09:48 – What employees should expect to be educated about with regards to their retirement plans

13:24 – Engagement vs. Participation in retirement plans such as a 401(k)

16:14 – The inspiration to create Moniwell and what Moniwell offers

30:01 – Financial self-efficacy and other content that’s covered via Moniwell texts

33:41 – The work Jennifer is doing through her non-profit organization, Mindfulness of Money

36:43 – Two things employees can do right now to enhance their financial wellbeing and financial content to ignore

44:46 – The last thing Jennifer changed her mind about and one thing she wishes people knew about her

47:45 – Jonathan thanks Jennifer for joining the show, lets listeners can go to follow her

Tweetable Quotes

“That’s when I started thinking about how can I make a difference, do something that I’m passionate about and find something that truly I have passion in and that I don’t ever really want to retire. And that’s when I fell into this idea of a different way to approach employees about their financial situations.” (09:18)

“So, obviously participation rates in 401(k) plans are much higher. The average is - don’t quote me on this - like 70% are actually participating. There’s a difference between engagement and participation. Participation is they’re in the plan, they’re putting something in, they have a balance. Engagement is engaging in other financial wellness products that will make a difference outside of ‘did they put anything in their 401(k) plan or are they saving enough?’ Those are two different things. That’s apples and oranges as far as I’m concerned.” (14:03)

“Moniwell is this concept of feel better, do better. If employees feel better about their money situation, they will be motivated to do better.” (19:07)

“There’s an underlying concept of financial self-efficacy which is your belief in your ability to succeed. And, if you don’t have it, you’re not gonna get anywhere.” (30:16)

Guest Resources

Jennifer’s LinkedIn– https://www.linkedin.com/in/jenniferrayner/

Moniwell Website – https://moniwell.com/testdrive/

Moniwell LinkedIn – https://www.linkedin.com/company/moniwell/

Mindfulness of Money Non-Profit – https://mindfulnessofmoney.org/

Mindfulness of Money Twitter – https://twitter.com/Moni_Confident

Mindfulness of Money LinkedIn –https://www.linkedin.com/company/mindfulness-of-money/about/

Other Links Mentioned:

The Disruptors Documentary – https://disruptorsfilm.com/see-the-film?gclid=CjwKCAjwp7eUBhBeEiwAZbHwkTIoYY0XyCK95_wLrPJPggWKaHTDOU0ZrHPfJJW5iW75sKbVkdUdYhoCpjkQAvD_BwE

Mindful Money Resources

Monthly Coaching Membership: https://courses.mindful.money/mindful-money-membership

Website - https://mindful.money/

Jonathan DeYoe on LinkedIn - http://linkedin.com/in/jonathandeyoe

Mindful Money on Twitter - https://twitter.com/MindfulMoney_Ed

Mindful Money on Facebook - http://facebook.com/MindfulMoneyPlan

Mindful Money on Instagram - http://instagram.com/mindfulmoneyplan

Mindful Money on YouTube - https://www.youtube.com/c/MindfulMoney


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About the Podcast

Mindful Money
Do you struggle with money? You’re not alone.
Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive. 
The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort.
Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life.
If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you. 
Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes.

About your host

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Jonathan DeYoe

Jonathan DeYoe is a best-selling author, speaker, financial advisor and angel investor. He is a husband, father and a practicing Buddhist. His simple underlying message brings a welcomed sense of order to financial chaos and restores a calm center to your financial life.