Want to Retire? Avoid These Three Tragic Investing Mistakes

Stay Wealthy Retirement Podcast

Taylor Schulte, CFP®

Financialplanning, Retirement, Money, Taxplanning, Stocks, Wealth, Business, Investing, Retirementplanning

2.4 • 606 Ratings

🗓️ 30 April 2019

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When it comes to investing, historical returns show us that, for the most part, a buy-and-hold strategy will always outperform an active one. This means that, once you have a concrete investing plan in place, you should stick with it through thick and thin — and no matter what the market does on any given day.

But that doesn’t mean you can randomly buy stocks and bonds and expect things to go your way. Well, you can, I guess...but you will likely regret it for years to come if you do.

In today’s podcast, I interviewed Peter Lazaroff, financial expert and author of Making Money Simple: The Complete Guide to Getting Your Financial House in Order and Keeping It That Way Forever to find out the biggest mistakes even the most well-intentioned investors make with their portfolios over time.

His answers may surprise you, so you don’t want to miss out.

Show Notes & Links: www.youstaywealthy.com/43

DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Transcript

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0:00.0	Hey, everyone. Quick announcement before we start the show. My guest today is Peter Lazeroff,
0:05.2	and he's the author of a new book called Making Money Simple. And thanks to Peter, I have five signed
0:11.3	copies of the book, and I'd love to give them away. So if you want a copy, all you have to do
0:15.8	is shoot me an email at podcast at you staywealthy.com with the subject line, I want Peter's book. And I'll send it out to you.
0:23.3	There's no catch. I'm not adding you to email list or anything. I just want to help Peter and
0:27.5	help get good information in people's hands. All right. Let's get into it. People are overly
0:36.9	active, particularly if they're not using an advisor, but if they are using an
0:41.6	advisor and they're paying them every quarter, they want to see a transaction every quarter,
0:46.2	like that's getting their money's worth. Whereas 99 times out of 100, the best action
0:51.9	in investing is to do nothing.
0:57.5	Welcome to the Stay Wealthy podcast.
1:01.6	I'm your host, Taylor Schulte, and today I have a really special guest for you.
1:09.4	I'm joined by Peter Lazaroff, who is the co-CIO of PlanCorp, a $4 billion investment advisory firm out in St. Louis.
1:12.9	Peter is also the author of a new book called Making Money Simple, and today he's going to share with us three common mistakes
1:18.0	that he sees people make when investing for retirement. Peter is a CFA, CFP. He writes for
1:24.5	the Wall Street Journal and Forbes. You'll see him on CNBC from time to time.
1:28.5	I think you're quickly going to recognize that Peter is just an all-around rock star and he is a wealth
1:33.3	of information. For all the links, resources, and show notes for this episode, you can go to
1:39.0	you stay wealthy.com forward slash 43. All right, let's go make money simple.
1:48.8	Welcome Peter Lazaroff to the Stay Wealthy Podcast. Thank you for joining me.
1:52.7	Hey, Taylor. How's it going? I'm doing well. Peter, you've got a new book out called
1:57.6	Making Money Simple. And in the book, you share this story, which I've heard
	...

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