Pecuniary Presidents

Tom Cock interviews Megan Gorman, author of All the President’s Money, exploring how U.S. presidents have handled their personal finances and the lessons investors can take from their successes and failures. Gorman shares stories of leaders from George Washington to Ronald Reagan, Eisenhower, Nixon, and Clinton, illustrating how factors like marriage, frugality, grit, emotional control, and adaptability shaped their financial outcomes. She notes that while the basic principles of money management haven’t changed since Washington’s time, achieving the American dream has become harder. The conversation touches on how some presidents leveraged post-office opportunities, the ethics of political financial activity, and the importance of aligned values in relationships for financial success.

0:05 Tom introduces Megan Gorman and her book All the President’s Money

1:16 Is there a link between being a good president and good with money?

2:16 Warren G. Harding as a bad president but skilled entrepreneur

3:22 Biggest lessons from presidents’ finances—marrying up and aligning values

5:56 Trump marriages and shared transactional values

6:15 How presidents historically made their money—land speculation, inheritance, entrepreneurship

8:40 Nixon’s failed frozen juice business and debt repayment

10:43 Eisenhower’s emotional control, poker skills, and marrying up

12:43 Gerald Ford as the master of the post-presidency pivot into celebrity and corporate roles

15:12 Debate over financial conflicts for presidents and members of Congress

17:13 Clinton financial evolution from poor money management to high net worth

19:38 The role of grit—Herbert Hoover’s rise from orphan to wealthy mining engineer

21:39 Woodrow Wilson’s lack of hustle contrasted with other hard-working presidents

22:30 Biggest takeaway—financial principles haven’t changed, but the American dream is harder to achieve today
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