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Today on Wealthy Wellthy Wise is Peter Lazaroff, CFA, CFP®. Peter is a financial advisor, speaker, and author of the book Making Money Simple. Peter is also Co-Chief Investment Officer at Plancorp, which manages over $4 billion of client assets, and a digital advisor called BrightPlan that emphasizes financial planning. Peter the first digital advisor to be a certified fiduciary by the Centre For Fiduciary Excellence.
In this episode Peter shares so much knowledge, as well as the importance of seeking advice and guidance when planning your financial future. We discuss his thoughts on money and marriage and how he and his wife were successful at creating an open conversation about money. Peter and I talk about how to turn career success into financial success, and how these are two totally different things. And best of all, he shares models for getting your financial household in order to build long-term wealth and financial security.
You can also click on the time stamps below to jump to those specific points in the conversation.
What We Covered
- [2:08] Peter shares his passion for finance and a little about how he helps others
- [4:44] Treat your financial household like a business
- [8:35] The importance of getting personal finances in order and places to start
- [12:31] Our most valuable financial asset
- [14:40] Finding your freedom number and setting goals
- [20:53] The amount of investment options may be overwhelming Peter shares filtering through the noise
- [24:09] Peter gives advice on couples and describes the “household CFO”
- [26:49] We discuss finances with couples and how to make money a safe conversation
- [30:48] How the financial blueprint is evolving with technology
- [35:34] Lifestyle Creep, income grows so does spendings
- [38:09] Peter gives us some interesting info pertaining to savings and age
- [41:12] Time and money, investing early wins
- [45:44] Peter busts his money myth
- [49:12] Paying for professional advice is the best check you can write
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