Living the Good Life, Financial Planning with Bobbie Munroe

Practical Financial & Lifestyle Tips for Nonprofit Professionals

Living the Good Life with Bobbie Munroe

Practical Financial & Lifestyle Tips for Nonprofit Professionals

Living the Good Life with Bobbie Munroe

by Ro

66% of millennials don’t feel they’re saving enough for retirement, and they aren’t alone! So we invited the Maven of Money, Bobbie Munroe, to discuss personal finance for the nonprofit professional. Bobbie shares practical financial and lifestyle tips to help you plan for the retirement you want without sacrificing quality of life today. This episode will help you get started on your own financial plan and sleep soundly tonight!

Listen to the Episode Here!


Website: Supporting Your Choices 

Website: The Richard C Munroe Foundation

Podcast: Ep 171: Recession-proof Your Career with Gary Hines

Podcast: Ep 149: Nail the Interview and Get the Job with Evan Piekara 


 (02:41) Where do you want to go?

(06:07) Bobbie’s 3 goal exercise

(07:51) Planning for retirement

(19:06) Retirement models

(24:27) Saving without sacrificing


Dolph Goldenburg (0s):
Welcome to the Successful Nonprofits® Podcast. I’m your host, Dolph Goldenberg. Today, we are going to be talking about personal finance for the nonprofit professional. My friend Bobbie Monroe will be joining us for this conversation. Before we start, it’s March 2021. Think about where you were a year ago. Think about all the uncertainty that we were facing. None of us were really sure what the future or what the next year would look like. We’ve gotten through that year together. I know organizations are emerging from that year and starting to think about strategic planning. If you’re an organization that’s thinking about strategic planning, I want to let you know that Successful Nonprofits® has a participatory, inclusive strategic planning process. I would love to share more about that process with you. Reach out to me at if you are interested. 

Dolph Goldenburg (50s):
Today, we are talking about personal finance for the nonprofit professional. We’re having this conversation because so many of us in the nonprofit sector ignore our retirement planning and our personal financial lives until it is too late. I have known today’s guest, Bobbie Monroe, for about 20 years, because she is good friends with a good friend of mine. 

Dolph Goldenburg (1m 36s):
Listeners, I adore Bobbie. She is the Maven of Money, the Dame of the Dollar, and the Regent of Retirement Dreams. I have had personal finance conversations with her. She is smart. She knows what she is doing. She was the professional financial advisor for an estate that I was the executor of because she was the professional financial advisor of the person who passed away. Bobbie helped this person set the estate up so well. The moment that I needed to come in as the executor, she’s like, “Dolph, here are the five things you need to do today and here are the six things you need to do next week.” She was incredible. When I realized that we wanted to have a show on personal finance for nonprofit professionals, I knew that Bobbie Monroe was the person we had to have on. Bobbie, welcome to the podcast. 

Bobbie Munroe (2m 38s):
Hey Dolph. Nice to be with you today. 

Dolph Goldenburg (2m 41s):
I was checking out your website,, to get ready for this show. I saw a true story about a young man with moderate income who said he wanted $5 million in assets by retirement. Can you tell us about that? 

Bobbie Munroe (3m 7s):
I can. I had been on a Q&A forum and am on Kiplinger a lot of the time. There was a young man who had decided he wanted $5 million when he retired. He’s a Forester. He’s probably making $35,000 a year. One of the advisors said, “Oh, if you want to save $5 million, you have to do this much a year and earn this much money.” And then the other one said, “Are we talking about present dollars? Are we talking about future dollars?” And then the third one said, ” I don’t know what your risk tolerance is. We need to be really sure we do this correctly for your risk tolerance.” 

Bobbie Munroe (3m 49s):
They were all great answers. And they’re all technical answers. Everybody that does what I do needs to know that. But I asked him, “Why do you need $5 million?” It seemed like he was willing to go with holes in his shoes and eat canned tuna fish for all those years for this goal that he had made up in his mind. I thought that if he really worked on it, we could discover why that was his script and see if we couldn’t find a way to have a little bit more life now and still maintain it through his retirement. And I think that’s the answer. 

Bobbie Munroe (4m 31s):
If you want to know how to get there, you’ve got to know where you’re going. That’s the first thing. On my website, there is a three goals exercise that we give to everybody. You can go there. It’ll help you think about it. Try to think about what you want. Not what your mom and dad want for you. Not what your siblings want for you. But what do you want for you? 

Dolph Goldenburg (4m 59s):
That was such a smart question to ask that young man. I ran the numbers and I’m like, “Okay, let’s say this person is making like $50,000 a year. He’s got to scrimp and save for the next 40 years. And suddenly this person’s income is going to go from 50,000 a year to say 4% of 5 million, which is 200,000.” That makes no sense at all. 

Bobbie Munroe (5m 28s):
No it doesn’t. But people get their financial cues from all sorts of places in life. Unfortunately, they get all the cues about what they need to have, wear and eat to be successful from advertisers. I’ve had couples come in and tell me that their family and family time are the most important thing to them. But then they were both working 70 hours a week and driving expensive cars. There’s a disconnect there. You’re telling me what you want, but the way you’re living has nothing to do with what you want. 

Dolph Goldenburg (6m 7s):
Right. Now, you said something about a three goal exercise. 

Bobbie Munroe (6m 11s):
I have three exercises on my website, I have that, some estate planning information, and some risk management. All of that is there for free. I’d love for you to go get it. No obligations at all. This is my gift to the community. So, the three goals exercises. One of them is called the Three Questions Exercise which is extremely powerful. I would start off with that one and have some time to do it. The second one, I ask people to list 30 goals. People are like, “30 goals?!” Well, If I ask you for 5, you’ll give me really important answers like “world peace” and I don’t want that. 

Bobbie Munroe (6m 56s):
I want – clean out the tool drawer. I want – learn to speak Spanish. I want – have lunch with a friend once a week. Because you’ll find that the things that really matter to you often don’t have a very big financial component. They have a commitment component. The last one is what makes the cut. In other words, let’s get down to the things that matter really the most to you. What could you give away? 

Dolph Goldenburg (7m 27s):
Right. I had to say that to my husband about a Tesla. He really wanted to get a Tesla. I was like, “Hmm, seems like a really expensive paperweight. If Tesla goes out of business, is there another car you would consider?” 

Bobbie Munroe (7m 46s):
I have had the Tesla conversation with many clients. 

Dolph Goldenburg (7m 51s):
That’s a diplomatic way to say it. Bobbie, let’s say a 35 year old nonprofit professional making $40,000 to $50,000 a year comes to you and says, “I have $5,000 of savings. And I know that I want to retire at some point.” What questions are you going to ask? And what advice are you maybe going to give this 35 years? 

Bobbie Munroe (8m 20s):
Well, there’s a really long time horizon there. I would ask him about saving regularly and automating it. There is so much evidence that if you make it where it never gets in your hand, then the chances that you’ll do it are so much greater. You’ve got people who are going to make it very hard. I would look at a Vanguard target date fund. Target date means, Let’s say I’m 30 and I want to retire at 65. That’s 35 years from now. So, you’re looking to retire in 2055. I’d look at their 2055 fund. It’s probably very aggressive, but as you get older, it gets less aggressive and less aggressive. It’s a “set it and forget it” option. Not only that, but it’s low cost. And if you had the option of putting it in a Roth IRA, do it. 

Bobbie Munroe (9m 45s):
Many of you will not have the tax problems in retirement, but if you want to put it in a place where you can get it before you’re 59.5 without having a penalty on it and you never have to pay tax on it or its growth ever again. Vanguard can help you with that. It’s plain, it’s vanilla, but I’m here to tell you that most of the good decisions you’ll make on money are boring. It’s the Tortoise and the Hare. Keep plodding along, doing the same thing you’re doing. You will see that the time value of money will probably do its work in the end. 

Dolph Goldenburg (10m 33s):
I know our listeners probably want to ask you the question, “This 35 five-year-old is making $45,000 a year. What percentage of their income should they try to be saving at 35?” 

Bobbie Munroe (10m 58s):
It’s the same at 35, at 20, or at 55. If they’ve been doing it all along, nobody’s going to like the answer, but it’s 15%. 

Dolph Goldenburg (11m 8s):
Let’s assume this is if it’s a 35 year old with $5,000 of assets, they’ve not been doing it all along. They want to catch up a little bit. Is it still 15%? 

Bobbie Munroe (11m 20s):
Let’s start there because I’m pretty sure that’s going to be pulling teeth. Now there’s some places where an employer’s going to give you a 6% match and you only have to save 9%. You’re still getting 15%. You know what I mean? If any of your listeners are in their twenties and they’re sitting there thinking, “Oh, I don’t need to start yet. They’re talking about 35 year olds. I have years to wait.” The time value of money is everything. A person that saves $2,000/yr between 20-30 years old vs. a person who saves $2,000/yr between 30-65, who has the most money, Dolph? 

Dolph Goldenburg (11m 60s):
I’m gonna guess it’s the person that saves $2k/year from 20-30. 

Bobbie Munroe (12m 5s):
That’s right. Now, I’ve worked with older college students and young clients that tell me, “I’ll do it when I get a raise. I’ll do it when I make more money” and I’m going, “Oh, you mean when you have kids and a mortgage? Please don’t wait. It’s never going to get easier.” 

Dolph Goldenburg (12m 25s):
When I first got out of college, I made the intentional decision to continue to live like a poor college student and save close to 30% of my income. Everyone does things differently. I did not invest it in the market, but I bought my first house when I was 26 years old. And I put 40% down on the house and I paid it off right after I turned 30 years old. That made all the difference. It set me up to have a much better life than if I was always trying to struggle and make it work. 

Bobbie Munroe (13m 3s):
Yes. I know that you’ve done that property thing several times, and it works. There are several ways to save money. In the 1970s, if you bought a house, you were going to pay about 7.5% interest. If you waited until the 1980s, you might’ve been paying double digit interest. But you were buying a house and you would see the value of that house appreciate. You could get your wealth from your house. I would prefer you bought it for other reasons besides appreciation because every time you get out of one, you’re going to pay a sales commission. If it’s a good investment, great. If it suits your needs and your requirements right now, even better, 

Dolph Goldenburg (13m 55s):
I could not agree with you more. And it’s interesting because I’ve had financial advisors and people who are good with money say to me, “You’d get a better return if you took out a mortgage on your house and you invested that money.” And I would always say, “But I wouldn’t sleep as well at night. And I can’t put a price on a good night of sleep.” 

Bobbie Munroe (14m 20s):
My Uncle Dick gave me a nice cash gift at my wedding. He said, “Pay off the house.” I said, the same argument you said, “I could make so much more money if I did blah, blah, blah, blah, blah.” And he said, “Pay off the house.” And I did. And it was nice. It feels really good. Listeners, I want you to know that if you go into retirement with a paid off house, when the market starts gyrating around, when things go to hell in a handbasket, you’re going to feel so much more secure with a paid-off house. 

Bobbie Munroe (15m 1s):
And this leads me to my thought about that particular subject. Is there a right answer from a technical point of view? Yes. If you can borrow the money at 2.5%, you can put it in the market over time. You are going to make more money. But that might not be the good answer. So I’m going to encourage everybody to look for the good answer, which isn’t always the technically right answer. It’s still one that fits your lifestyle and your sensibilities and your heart. 

Dolph Goldenburg (15m 32s):
Completely and totally agree. And full disclosure, for the last two years my husband and I have lived in an apartment because we sold our house a couple of years ago and we pay rent every month now. It’s not a hard and fast rule. The funny thing is, I don’t mind paying right now. It’s a nice apartment. And when something breaks, I have this app on my phone and I tell the landlord it needs to be fixed, and it gets fixed. 

Bobbie Munroe (15m 57s): 

Some people aren’t meant to own their own house for that very reason. One thing I do like is that the mortgage payment is fixed. Rent goes up, but I know you Dolph. You’re waiting for a deal. And there aren’t any deals in Atlanta, Georgia right now. 

Dolph Goldenburg (16m 12s):
You are right Bobbie. We are waiting for the deal and we don’t see it yet. Now let me ask you this question: What advice would you give to the 55 year old who comes to you and says, “I’m 55 years old. I have about $5,000 in savings. What should I do so I can retire at some point?”

Bobbie Munroe (16m 33s):
I had this couple walk in the door and I know he’s an attorney with a major law firm and I’m expecting he’s making mid-six figures a year. They give me their questionnaire and I’m looking through it and I don’t see many assets on it. Then I see a very valuable home and I turn the page and I see a very large mortgage on it. They don’t have much. He likes to work. This is a good thing because he might be working for a long time. At one point, she was sitting there going, “Why didn’t we have this discussion 30 years ago?” 

Bobbie Munroe (17m 17s):
By the time you’re 55, you probably need to at least meet with an hourly advisor. If you’re going to retire at 65, you’ve got 10 years to change the direction of the boat. The good news is you might find out that you’ve got more than you could need, and you could retire tomorrow. I do get to give them the good news a lot of the time, because savers have a hard time spending money and they don’t need that much in retirement. 

Bobbie Munroe (18m 1s):
There are two ways to be wealthy: have a lot or not need much. This couple absolutely needed to have that discussion a long time ago. If you haven’t had it, you need to at least check in with somebody and see where you are. A financial planner can help you know what you need to save more and how much risk you need to take. Let’s say you have saved enough. You can dial it back, put bonds in the portfolio, take it easy. Let everybody else ride the wild thing. And you can be on the baby coaster. If you haven’t saved enough, you might need to take more risks or give up some of the things that you think you want to save more. 

Bobbie Munroe (18m 52s):
You need to get a guess on it. As far as the actual investment to take you home, Vanguard Target Date Funds work for me for the very same reason. 

Dolph Goldenburg (19m 6s): 

I know from conversations that you and I have had that sometimes a person needs to think about giving up the age they are going to retire. So if you’re 55 and you have $5,000 in retirement assets, you’re probably not going to retire at 62. 


Bobbie Munroe (19m 22s): 

You’re never going to retire. 

Dolph Goldenburg (19m 25s):
Come on, Bobbie. You got to give people a little bit of hope there. 

Bobbie Munroe (19m 28s):
I’ve spent my time working for charities, professional organizations and everything. I’m probably going to work till I’m 75, but I like what I do. People who work longer have less dementia and better health. The list of benefits is huge, not to mention a much richer financial life. So it’s not necessarily a bad thing. Sometimes I will have a 30-year-old come in the door and tell me, “I want to retire when I’m 50.” and I’m going, “You’re doing the wrong thing now. Are we going to plan on staying at a job you hate for 20 more years? I bet I could show you that even though you already have bills and a mortgage, you could transition yourself, make less money, work longer, love it, and still come out with a better result.” 

Dolph Goldenburg (20m 25s):
Amen, Bobbie. My husband is about 10 years younger than me and he really wants to retire between 55 and 60, which is great, but I really love what I do. So I’m planning to work until my early seventies. My life expectancy is between 78 and 79 years old. To be honest, I think I’ll get bored if I have more than five years of retirement. 

Bobbie Munroe (20m 59s):
I’m going to be here to tell you I would expect at least one of y’all is going to live to 90. And it takes a big pot of money to live for 30 years post retirement. It just does. 

Dolph Goldenburg (21m 11s):
Let me say, based on family history, it’s going to be Frank that lives to be almost 90. But I think it’s funny because he is planning on retiring between 55 and 60 and he’ll have 35 years ahead of him. We’re structuring our finances so he’ll be able to do that. But if you really love what you do, if what you do gives you joy and you’re passionate about it, why would you not do that until you’re in your seventies? And what’s more, if you could do something that you love now, why don’t you transition to that now so it doesn’t feel like work?

Bobbie Munroe (21m 51s):
Yes. Doing what you love is so important. It will pay off in spades for you. Retirement doesn’t have to be a line in the sand with no work on one side and work on the other side. For me, I will probably get someone on by the time I’m 70. And I will start turning stuff over to them and start working three days a week, taking four weeks off at a time, and as long as I’m in touch, I can take a vacation. I could go live and Ecuador for a half a year. There are lots of different things that you can do. I have people that are working as consultants on what was their field doing a gig here, a gig there. Even if you bring in $20,000 a year in retirement, it changes the ball game. So remember, it doesn’t have to be all or nothing. And I think most of us are better suited for it being somewhere in between. 

Dolph Goldenburg (23m 9s):
There’s another thing that I know you suggested to folks, and I’m going to tell a personal story about it. Both my parents have passed away. In their sixties, my dad went bankrupt, which is a really bad time to go bankrupt. My parents had a little suburban home and all the kids were gone. So my parents rented a room in their house and it gave them an extra $800 a month until they no longer needed it. It was an easy way for them to bring in a little bit of money to help out. 

Bobbie Munroe (23m 47s):
We live in a world where people think every child needs their own bedroom. I know families of nine that grew up in a three bedroom, one bath house. And when mama finally got an extra room, she didn’t want another bathroom. She wanted a closet. It amazes me the boundaries people put up. “No, I can’t. I don’t like how that looks.” For God’s sakes, don’t care what anybody else thinks about your business, to be and do things that aren’t normal is a wonderful way to live. Be confident. 

Dolph Goldenburg (24m 27s):
I know you give some great advice on how people can save for retirement without it feeling like sacrifice. 

Bobbie Munroe (24m 35s):
I have a cousin that told me that one thing she remembers that I say. Whenever she wants a new piece of clothing or something and doesn’t get it, she tells herself, “I’m saving for that new house I’m going to build.” I’ve had clients take their credit cards and put them in a sleeve where they put a saying that meant something to them or a picture of their family or a picture of the house they wanted to buy. Every time they go for that thing, they see that bigger goal. And then they don’t feel so deprived. 

Bobbie Munroe (25m 16s):
As a matter of practical application, if you can take all your discretionary money and pay it to yourself in cash, you’ll spend less money. I don’t care if it’s a debit card, if you use it, you’re liable to spend double digits more than you would if you’re using cash. Cash is real. 

Dolph Goldenburg (25m 34s): 

I agree. I totally agree. Something that worked well for me in my twenties, I tore a page out of the book, Your Money or Your Life. One of the things they suggest is to calculate your real hourly wage. Let’s say my hourly wage is $25 an hour. I have to take taxes out of it. So now let’s say it’s $19 an hour because I have to take FICA, Medicare and all the income tax out of it. Then I subtract my commute costs. Let’s say my commute costs end up being a dollar an hour. Now at $18 an hour. I subtract my cost of buying work clothes and anything else that I spend money on because I have to go to work. Instead of $25 an hour, you realize you’re only making like $15 an hour. Whenever you buy something, you ask yourself, “This is $30. Is it worth two hours of my time?” If your wage is $25 an hour, you think, “That’s barely over an hour of my time.” But when you subtract taxes and everything that we spend in order to work, suddenly you’re like, “Wow, that’s two hours of time. I don’t know if that’s worth it.” 

Bobbie Munroe (26m 55s):
And God help you, if you’re a parent, especially a single parent that needs childcare. And that’s something we’re going to have to address as a nation. Those are the poor people. Those are the people going hungry at night. 

Dolph Goldenburg (27m 8s):
I agree. 100%. That’s where the earned income tax credit has to be expanded and really cover things like childcare. 

Bobbie Munroe (27m 17s):
We don’t want to get political today, but, yes. It is very hard to figure out how much something really is worth to you. And I’m going to tell you one of the best ways you can start. I’ve never known somebody to walk into their parents’ house when they died and said, “Oh, this is going to be easy.” Because people accumulate so much. I have prospective clients calling me and saying, “We need a bigger house.” I go, “Why?” “Because we have so much stuff.” and I go, “There’s an alternative to that. You could get rid of some of your stuff.” Traveling light is much easier. 

Bobbie Munroe (27m 58s):
And I’m not asking you to live in 350 square feet. I’m saying don’t buy so much. Don’t be attracted to that crazy little thing, because you will wonder why you have it five years from now, or even five minutes from now. Don’t get it. 

Dolph Goldenburg (28m 20s):
I am so glad you said that. I’ve served as the executor of a couple of estates. One of the things I’m always floored by is people’s treasured things that they spent money on. You go, and you get an estate broker who puts together an estate sale and has lists of antique dealers. Things are selling for 10 cents on the dollar, 15 cents on the dollar. Sometimes they don’t even sell. And then they go to the thrift store. It really puts everything in perspective when you realize, we spent all this money on things. When we’re done with them, whether we’re done with them because we dispose of them or we’re done with them because time has disposed with us, they don’t have much value. 

Bobbie Munroe (29m 9s):
Yesterday I had two of my very best friends in the world out here and I’d taken out all of my Christmas wrapping. And I have a lot of Christmas wrapping. Oh my goodness. I had three boxes of tissue paper and wrapping paper and bows and ribbons and boxes and mailers. I let them go through and pick out the things that they would want. So they would go to somebody that it might mean something to. I had people who saved their antiques for their children. Guess what? Their children don’t want them. If you’re tired of it, push it away. If you’re downsizing, push it away, push it away. Your children will thank you in Heaven because it can be daunting to have to deal with a hugely crowded house. 

Dolph Goldenburg (30m 6s):
My mother outlived my father. She had Alzheimer’s and by the time she passed away, she had lived in the same house for 45 years. And it’s an emotionally difficult time. How do you say to a sibling, “I’m really sorry, but we’re gonna have to rent a dumpster because this stuff has no value. And you don’t want it and I don’t want it and neither does our brother.” The best gift that a parent can give their child is to take care of that stuff while they’re alive. 

Bobbie Munroe (30m 37s):
And this is true. When I moved down from Atlanta I got rid of about 35%. When you start really cutting into it, you’re giving away things you love. But who needs seven sets of dishes? I didn’t. 

Dolph Goldenburg (30m 52s):
Right. I think this really has a lot to do with money, but really what you end up doing when you’re cutting away is you’re curating. You’re curating the things that you like the best so that your life is full of things that you love. That, as Marie Kondo would say, has sparked joy for you. 

Bobbie Munroe (31m 7s):
I had one client turn her bonus room into a store. She had so much stuff. You couldn’t really see any of it. So we put it in that bonus room. And I told her, “Next time you want to go shopping, I want you to go into your bonus room, reconnect with something that you love and trade it out with something that’s showing right now.” She still bought things, but not as much. She was finally able to see the stuff that she loved because when it was all in the room together, you didn’t see any of it. All you saw was a massive amount of clutter. 

Dolph Goldenburg (31m 45s):
Bobbie, I got to ask you an off-the-map question. I know that you started a foundation and I am hoping that you share the origin story of that. 

Bobbie Munroe (32m 8s): 

It was my Uncle Dick, really. I called him Uncle Daddy. I lost my parents when I was younger and he was really instrumental. He started a foundation in 1989 with not much in it. It began with $40,000 and then he funded it with his will. The foundation, besides a truly charitable motive, was meant to help bind his children together in a continuing relationship of some sort. And I’ve got to tell you that it has been done marvelously. 

Bobbie Munroe (32m 49s):
Anyway, we started off with $40,000 and 1989. His will left a significant amount. One of the sons has given some money to it. And since 1992, we have probably given away $5 to $6 million. We do it a lot to smaller groups that are like us. Because there are three board members and we can run fast and loose, but it’s not that hard today. Back then, there were no community foundations or charitable trust funds that you could use or something like that. You do have a chance to define your own mission. 

Bobbie Munroe (33m 28s):
Our mission is helping communities help themselves. There is so much need right now. I believe in a philosophy that it’s not all about money, that the goal is personal wealth. Money is the first tool that you have to have for that. And not too much. There’s evidence that shows after you’ve paid your basic bills, more money doesn’t make you happier. Then there’s community wealth. I will make the case all day long that unless you give back to your community and foster community, you can never get to that goal of personal wealth. It’s all balled up together. I am so lucky. I came from a family of givers. They would wonder if they can afford a new washing machine, but they would always give. It’s been such a pleasure and such a legacy to my cousins and me. 

Dolph Goldenburg (34m 30s):
I love that. And as you said, your uncle’s other purpose really was to keep the family together and over 30 years later, it has. 

Bobbie Munroe (34m 40s):
And we see each other at least once a year. What has happened is we’ve all gravitated down to the farm, which is the other thing he left. And they never used to come to any of these things. And now it’s a huge part of our life. We see all of our other cousins who were down here and it’s great. I was saying the other day that our parents would be so pleased. 

Dolph Goldenburg (35m 5s):
The other thing I love about that story is it goes to show that you don’t have to be a gazillionaire to live a good life, have a good retirement and leave a legacy. 

Bobbie Munroe (35m 16s):
There’s so many stories about women who worked in the lunchroom at the local school that gave $500,000 to charity when they died. It’s not about what goes in any more than it is about what goes out. And like I said, you need to find a place where there’s enough. If you hang around with people who have more than you, you’ve got to learn to accept that and not try to keep up with them. I’m not saying don’t be friends with them, but I see people trying to keep up. And it’s ridiculous because these people have so much money. And besides there’ll always be someone with more than you. It’s not a winning battle. You really need to think about what is enough for you. The simpler you can keep your life, the happier you’re going to be. And that has a lot to do with knowing what is enough. 

Dolph Goldenburg (36m 18s):
I love it, Bobbie. That was a great place for us to leave it. Thank you so much for being on the podcast. Listeners, Bobbie Monroe is someone you really need to think about reaching out to. Her URL is That’s where her certified financial planning practice can be found. At the website, you can get a real idea of who Bobbie and her associates are and exactly what they do to help people understand and build their personal financial life. And if you’re interested in the Richard C. Munroe Foundation, which is the foundation that her uncle started you can find it at They primarily fund in Atlanta and Florida, but they have a really simple application. Their website says, “Hey, please try to keep this down to one page because we only need to know the facts. We don’t need everything else.” Even if you’re not in the region, it’s worth checking out so you can be jealous that some grantees have to complete such a simple application. Bobbie, again, thank you so much for being on the podcast today. 

Bobbie Munroe (37m 36s):
My URL for you is That is Dolph. I’ve enjoyed the heck out of this. Thank you so much for the opportunity to tell these stories. As I could go on and on and on. 

Dolph Goldenburg (37m 52s):
That is sweet. Bobbie, thank you so much. If you missed either of those two URLs, we will have them at our show notes at If you’re there and realize it’s been three or more years since you’ve done your strategic plan, then reach out as well. If you enjoyed this conversation with Bobbie, I would suggest Episode 171: Recession-proof Your Career with Gary Hines and, one of my favorites from earlier in 2020, Episode 149: Nail the Interview and Get the Job with Evan Piekara. That is our show for this week. I hope you have gained some insight to help your nonprofit thrive in a competitive environment. 

Dolph Goldenburg (38m 44s):
And just a quick reminder that I am not an accountant nor an attorney, and neither I nor the Goldenburg Group provide tax, legal, or accounting advice. This show is intended for informational purposes only and should not be relied on for tax, legal, or accounting advice. If that’s what you need, you should find a qualified, licensed professional and talk to them 


**  We have edited this transcript because how you listen is not how you read. If you have a problem with this, remember you got this for free!


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