Peter Lazaroff is a contributor to the Wall Street Journal and Forbes, and he just wrote a book, Making Money Simple, which is available for pre-order and will be released this coming March.
Peter Lazaroff is also the Co-Chief Investment Officer at Plancorp, which manages over $4 billion for individuals, institutions, and retirement plans. He also serves in the same capacity for robo-advisor called BrightPlan, which allows investors of any size to plan and save for all their life goals.
We don’t learn about money basics in elementary school. We don’t tell seniors how to budget or pay bills as part of their last year in high school. You can take finance classes in college, but most people who graduate from college don’t take a course in personal finance or receive an unbiased education in the right way to invest money. It’s even more unlikely they took a deep dive into financial planning topics like how to plan for retirement, buy a home, save for a child’s education, or any of the other situations in life that require an understanding of how to best use the money you have to your name.
In school, you are given a lesson then a test. In life, you are given a test and then you learn a lesson – and money lessons can be expensive.
We spoke about
It’s inevitable, markets will go down. How will you prepare for it?- Working as a fee for service advisor since 1983, long before it became popular.
- His first investment was Nike Shoes at age 12.
- The pain and agony of studying for the CFA exam.
- The habit of writing at least 250 words per day.
- The book
- The first part is about setting goals and understanding where you are,
- The second part is about investments,
- The third and final part is about the critical decisions people have to take in their lives.
- “You can not take the human out of the human when making investment decisions, but you can set up systems to prevent the human from making mistakes. “
- “The more you learn about investing, the more you realize the simplicity of what it takes to be successful.”
- The dark side of compounding: taxes, fees, debt, credit card debt is the worse.
- “Time is more important than timing.”
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