Ep. 1036: Larry Kotlikoff Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 27 December 2021

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Laurence Kotlikoff. He is a Professor of Economics at Boston University, Fellow of the American Academy of Arts and Sciences, Fellow of the Econometric Society, Research Associate of the National Bureau of Economic Research, President of Economic Security Planning, Inc., and Director of the Fiscal Analysis Center. He has written 19 books.

The topic is his book Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life.

In this episode of Trend Following Radio we discuss:

Student Loans in the United States
Credit Card Debt
Standard of Living
Divorce Planning
Financial Thinking

Jump in!

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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

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0:00.0	This is trend following radio where great thinking comes alive.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:21.2	I am your host, Michael Covel, not filtered, raw, honest.
0:27.4	That's my passion.
0:33.4	My guest today is Larry Kotlakov.
0:35.6	He is an economist from Boston University. Today we are discussing his book Money Magic. And economist secrets to more money, less risk, and a better life. Larry definitely brings an outside the box perspective. Oh, you want to be an investor? You want to make money, but you've got a pile of debt. Get rid of the debt before you start investing.
0:58.6	Oh, you want to go take on hundreds of thousands of dollars in debt to go to school? Don't do it.
1:04.8	You want to talk about pre-nups? Well, you better. This is the kind of nitty gritty that I get into today with Larry.
1:13.4	It's not a trading or investing podcast per se, but it's all of those issues that we don't really
1:22.1	talk about that ultimately affect the bottom line, the bottom line of, do you have money or do you not have money?
1:30.8	And ultimately, I think Larry gives a great perspective on freedom.
1:34.5	Meaning if you can wrap your arms around his style of thinking, some of the tips and tricks,
1:40.5	so to speak, that he brings to the table, you're going to have a better life.
1:46.0	There is no doubt about that.
1:48.7	Without any further delay, let's jump right into my conversation today with Larry Kotlikoff
1:52.5	and talk some money magic.
1:55.1	Music. You're very counter on your kind of life management, risk management, investment management, spending management, you're very counter
2:19.0	to the norms. And at first I started going through your world and I was like, okay, this is just
2:25.5	going to be standard issue. And it's like, oh, no, not standard issue at all. Not standard issue.
2:31.3	Let's jump right into the deep end. I mean, we've got a situation where everybody loves to talk about student debt in America.
2:38.7	And I don't know what the rest of the world does, but you and I know a lot of kids, and I've got two nephews that are, you know, one's in college, one's getting ready to go.
2:46.7	And they start to look down the barrel of 60,000 or 50,000 bucks a year. And you don't think this is a good
	...

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