Podcast Summary: Built Online
Episode: Top Financial Advisor Reveals SIMPLE Rules for Building Wealth with Douglas Lynam
Host: Cody McGuffie
Guest: Douglas Lynam, author, coach, and former monk
Date: October 20, 2025
Episode Overview
In this episode of Built Online, host Cody McGuffie interviews Douglas Lynam, a financial advisor with a unique background as a former Benedictine monk. The conversation focuses on changing mindsets around wealth, understanding financial psychology with the Enneagram, identifying personal "money monsters," and the practical steps entrepreneurs can take to master their relationship with money. Key lessons center around the tools for using wealth ethically, breaking down misconceptions inherited from culture and childhood, and actionable paths toward financial mastery.
Key Discussion Points and Insights
Douglas Lynam’s Unconventional Journey (01:07 – 05:51)
- Douglas details his path from philosophy student, to Marine Corps officer candidate, to Benedictine monk, and ultimately, financial advisor.
- A “toxic” childhood attitude towards money drove him to the monastery, trying to escape the material world.
- Unexpectedly, the monastery’s financial struggles forced him to learn personal finance and management.
- He founded an investment advisory firm from within a monastery to solve a widespread issue of mismanaged school retirement plans.
"I was also trying to escape the world of money and materialism because I grew up in a family where money was really weaponized. ... a few years into my monastic journey, the monastery went bankrupt."
— Douglas Lynam [04:01]
Money: Morality, Power & Misconceptions (05:51 – 14:05)
- Money is a neutral tool; morality arises from its use, not its possession.
- Debates the biblical trope: "the love of money is the root of all evil," clarifying types of "love" in ancient Greek and advocating for a higher, more altruistic relationship with wealth.
- Explains the “pie fallacy” (13:32): Economic success is not a zero-sum game in modern, free-market societies.
"Money is a tool, like a hammer. You can build something beautiful or whack yourself on the thumb."
— Douglas Lynam [06:06]
"There’s no ‘be a decent human’ switch that flips on or off depending on the size of your bank balance. Your kindness and your tax bracket are not correlated."
— Douglas Lynam [10:48]
- Host Cody shares the observation that some well-intentioned people unintentionally glorify poverty, calling out society’s misinterpretation of religious and cultural texts.
- Both agree: Wealth can amplify existing character but is not inherently corrupting or virtuous (11:03).
The Money Monster Archetypes & Enneagram (14:05 – 20:33)
- Introduction to Lynam’s new book: Taming Your Money Monster: Nine Paths to Money Mastery with the Enneagram.
- Outlines how money behaviors correspond to Enneagram personality types — each with two “money monsters” (one “anxiously attached,” one “avoidant”).
- Anxious: E.g., Scrooge, acquisitions-obsessed
- Avoidant: Rejecting or fearing money, seeing it as impure or corrupting
- The Enneagram offers nine archetypal patterns, helping readers understand where they might get stuck around finances.
- Four pillars of finance where these tendencies play out: Earning, Saving, Investing, Giving (18:00).
"The book really goes deep into the structure of individual personalities and then helps you understand where you are going to likely get stuck in your relationship to money."
— Douglas Lynam [15:08]
- Understanding your own and employees' money monsters is critical for effective entrepreneurship and business management.
Mastering Your Money Type (19:26 – 22:38)
- There is no universal “ideal” relationship with money; financial mastery looks different for each Enneagram type.
- For entrepreneurs, Types Three (achievers) and Eight (challengers) are most likely archetypes, but every type can succeed with self-awareness.
"For you, your ideal is going to be different than for me. And that's what I call becoming a money master… It doesn't necessarily have to do with the size of your bank account, but… how are you relating to it in the healthiest way possible for you."
— Douglas Lynam [19:55]
- Healing “money monsters” involves:
- Identifying your scripts (childhood wounds/fears)
- Contemplative practice (therapy, meditation, spirituality)
- Mindfulness to break cycles of avoidance or anxiety
"We needed to go deep into your childhood psychology. Like where did these [money scripts] come from?... Its most profound insight is it tells you what your greatest unconscious fear is."
— Douglas Lynam [22:41 – 23:45]
Breaking Free from Negative Money Scripts (24:44 – 27:37)
- Cody shares his early money anxieties: equating wealth with unhappiness and divorce (via media/celebrity narratives).
- Lynam explains that most financial self-sabotage is rooted in these hidden scripts and “money monsters.”
- Recognizing and addressing these scripts is essential to avoid unnecessary pain and blocks to success.
"That's what the money monsters are. These are the ways you can sabotage your financial life in these two different ways: anxiety or avoidance."
— Douglas Lynam [26:44]
Advice for Entrepreneurs: Mindset & Mission (30:01 – 32:41)
- Essential qualities for business owners: independence, time management, strong “why” or mission.
- The “why” need not be tied to a market initially (Cody): A personal mission (e.g., overcoming poverty) can later evolve into a solution for others.
- Reference to Simon Sinek’s “Start with Why” and Nietzsche’s “He who has a why can endure any how.”
"You got to have a why... Because it’s going to be hard. And if you don't have a good why, then you're not going to be able to make it through the hard parts…" — Douglas Lynam [30:13]
Notable Quotes & Memorable Moments
-
On the neutrality of money:
"Money is a tool, like a hammer. You can, you can build something beautiful or whack yourself on the thumb."
— Douglas Lynam [06:06] -
On abundance vs. scarcity:
"There’s no ‘be a decent human’ switch that flips on or off depending on the size of your bank balance. Your kindness and your tax bracket are not correlated."
— Douglas Lynam [10:48] -
On the illusion of zero-sum economics:
"There’s no point where the amount of money runs out. Money is constantly being generated in our economy all the time. That’s why we have inflation."
— Douglas Lynam [13:32] -
On personality and money archetypes:
"The book really goes deep into the structure of individual personalities and then helps you understand where you are going to likely get stuck in your relationship to money."
— Douglas Lynam [15:08] -
On self-sabotage:
"That's what the money monsters are. These are the ways you can sabotage your financial life in these two different ways: anxiety or avoidance."
— Douglas Lynam [26:44]
Timestamps for Key Segments
- [01:07] — Douglas Lynam’s path: from philosophy student to monk to financial advisor
- [06:06] — Is money evil? Changing the narrative on money’s morality
- [13:32] — The “pie fallacy” and why wealth isn’t a zero-sum game
- [15:08] — Explanation of “money monsters” and Enneagram archetypes
- [18:00] — The four pillars of finance: earning, saving, investing, giving
- [19:55] — What does financial mastery look like? (Different for each type)
- [22:41] — Healing “money monsters”: overcoming money anxiety/avoidance via self-awareness
- [24:44] — Cody’s personal story: rejecting poverty scripts, overcoming self-sabotage
- [26:44] — The essence of financial self-sabotage
- [30:13] — Who should be a business owner? Why a strong “why” is essential
Additional Recommendations
Book References
- Douglas Lynam’s Books:
- From Monk to Money Manager: A Former Monk’s Financial Guide to Becoming a Little Bit Wealthy and why that’s okay
- Taming Your Money Monster: Nine Paths to Money Mastery with the Enneagram
- Other Recommended Book:
- Naked Economics by Charles Wheelan [28:22]
Where to Learn More
- Douglas Lynam’s Website: douglynam.com
- Email: doug@douglynam.com
Final Thoughts
Douglas Lynam brings a rare blend of spirituality, philosophy, and practical financial wisdom, providing both a theoretical framework (via the Enneagram) and actionable tips for entrepreneurs to overcome deep-seated money anxieties. The episode empowers listeners to recognize their own “money monsters,” reflect on their financial scripts, and embrace wealth as a tool for good—affirming that abundance and virtue are not mutually exclusive.