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Originally aired on The Best Interest Podcast, Peter shares insights on why all-time highs are more common than one might think, the importance of maintaining a long-term perspective, and why trying to time the market is an unwise strategy.
Listen now and learn:
How often you should expect corrections and bear markets The primary long-term driver of stock returns The importance of understanding the conflicts of experts giving adviceVisit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[02:25] Investing at All-Time Highs
[04:47] Market Cycles and Volatility
[11:20] The Limits of Market Timing
[17:52] The Cyclical Nature of Stocks
[24:19] The Connection Between Stocks and Earnings
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Taylor Schulte and Benjamin Brandt join the show to talk about the Retirement Podcast Network and share valuable perspectives on various retirement-related topics.
Listen now and learn:
How to leverage the Retirement Podcast Network to enhance your retirement readiness The major pain points retirees and those planning for retirement face Diverse ideas on how to approach advanced retirement planning strategiesVisit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
02:34 Origin of the Retirement Podcast Network
07:09 Retirement Planning Beyond Investing
10:18 Retirement Income Strategies
14:10 Strategic Roth Conversions Are Great, But Not Everything
17:36 Long-Term Care Planning
20:58 Future Content Hubs at Retirement Podcast Network
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In this episode, we delve into the complexities of the S&P 500's index concentration, spotlighting the unprecedented impact of the 'Magnificent 7' on market dynamics and investor strategies.
Listen now and learn:
The historical context and current state of S&P 500 market concentration. Diversification strategies for mitigating investment risks associated with the 'Magnificent 7' How the performance of equal-weighted vs. market-cap-weighted indices offers insight on today’s market health and investment opportunities.Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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In this episode, Cameron Howe is joined by Peter Lazaroff, CIO of Plancorp and Brightplan, overseeing over $6 billion in assets under management for over 1,500 clients nationwide. Peter is also the author of the book "Making Money Simple," with a foreword by Sam Altman.
Portfolio Construction Philosophy [00:59]
There is no perfect one-size-fits-all portfolio. The perfect portfolio is the one an individual can stick with through market ups and downs.
Plancorp's approach starts with an investment philosophy rooted in peer-reviewed academic research to avoid deviating from the established portfolio.
The starting point is the total market portfolio, as that's the likely benchmark for most investors.
Factors like liquidity needs, employment status (human capital), and risk tolerance inform deviations from the total market portfolio.
Home country bias is common, with investors tending to overweight domestic holdings.
Quantitative vs. Fundamental Approach [10:16]Plancorp takes a more quantitative approach, focusing on factors with robust research backing and proven out-of-sample data across asset classes.
They primarily use three or four factors like value, profitability, and in some cases, size and momentum.
The goal is to implement robust factors while avoiding the "bad side effects" of implementing unsuccessful factors from data mining.
Reducing Emotional Biases [28:45]Clients, advisors, and portfolio managers all have inherent biases that must be accounted for.
Techniques like red team/blue team debates, blind voting on portfolio metrics, and keeping investment committees small help reduce bias.
Humility and viewing decisions through the lens of process rather than just outcomes is crucial.
Advisors should be aware of biases introduced by marketing from asset managers.
Key Takeaways
Don't overcomplicate investing; the simplest solutions are often best.
Embrace an evidence-based, hypothesis-testing approach to portfolio decisions.
Reducing behavioral biases requires processes that foster diverse perspectives and honest self-evaluation.
An advisor's role is to help clients stick to their long-term investment plan and avoid costly mistakes driven by emotion.
Connect with Peter Lazaroff
Social Media: @PeterLazaroff
Website: www.thelongtermportfolio.com
Podcast: The Long Term Portfolio
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When it comes to the disciplined approach of portfolio rebalancing, investors often find themselves in a conundrum, particularly with the necessity of realizing capital gains. This episode explores the tradeoff between maintaining a strategic, long-term asset allocation versus a higher tax bill.
Listen now and learn:
Why many investors might soon need to realize some capital gains
The importance of rebalancing and maintaining your target asset allocation
Strategies to mitigate the tax impact of portfolio rebalancing
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions. -
Manisha Thakor, author of MoneyZen: The Secret to Finding Your “Enough,” joins the show to share practical steps to embrace a life of “enough.”
Listen now and learn:
Strategies to resist societal pressures that equate success with perpetual accumulation. Ways to recognize when you have enough and how this realization can transform your approach to life and money. 7 steps for implementing a Joy-Based Spending program to maximize your happiness.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[02:51] Understanding Money Zen
[05:21] How People End Up in the Cult of Never Enough
[18:20] Science of Hustle and Work-Life Balance
[23:30] How to Implement Joy-Based Spending
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In this episode, we delve into the heart of Nvidia’s recent surge and why it's not the missed opportunity it might seem.
Listen now and learn:
Nvidia’s role in the AI and tech boom Strategies to overcome feeling like you "missed an investment opportunity" Why you do not need to chase "hot stocks" to be a successful investorVisit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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In this episode, we’re joined by Christine Benz, Director of Personal Finance at Morningstar, who shares fascinating insights from her latest co-authored paper: "The State of Retirement Income 2023."
Listen now and learn:
Motivations for safe withdrawal rate research
Nuances of the 4% withdrawal rule
Implications of today’s environment for retirement spending strategies
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
02:28 Motivation Behind the Research
03:54 The 4% Withdrawal Rule: An Overview and Its Shortcomings
07:15 Variables Impacting the Ideal Withdrawal Rate
12:45 The Impact and Value of Early Financial Gifts
17:16 The Advantage of Dynamic Spending Strategies
21:07 Upcoming Book: "How to Retire – 20 Lessons for a Happy, Successful, and Wealthy Retirement"
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You need money for everything, but money isn’t everything. That’s why there are a number of non-
financial reasons you ought to embrace financial planning.Listen now and learn:
How blueprinting your life goes beyond a budget
How financial planning can strengthen your bond with loved ones
How a financial plan turns time from a fleeting resource into a strategic assetVisit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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The conversation continues with Derek Jess, Senior Wealth Manager and Shareholder at Plancorp, who returns to delve deeper into executive compensation planning strategies.
Listen now and learn:
Key strategies for deferred compensation plans Advanced strategies for exercising stock options The important nuances of establishing a 10b5-1 planBe sure to also check out last week’s episode with Derek about Equity Compensation Strategies: Everything You Need to Know.
[02:00] Advanced Deferred Compensation Planning Strategies
[11:35] Advanced Strategies for Exercising Stock Options
[16:20] Understanding AMT Planning for Incentive Stock Options
[21:25] The Importance of Setting a 10b5-1 Plan
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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Derek Jess, Senior Wealth Manager and Shareholder at Plancorp, shares his vast knowledge of integrating equity and executive compensation into comprehensive financial planning strategies.
Listen now and learn:
The essential considerations and tax implications for incorporating equity compensation into your financial plan
Unique risks faced by employees with large company stock positions
A systematic approach to managing company stock
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[2:17] Understanding Deferred Compensation
[3:43] Equity Compensation and Vesting Schedules
[6:01] Restricted Stock vs. Stock Options
[9:21] Tax Implications of Stock Options
[14:05] Employee Stock Purchase Plans
[17:36] Concentrated Stock Positions and Risks
[21:05] Integrating Company Stock in Financial Planning
[33:06] A Systematic Approach to Managing Company Stock
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Peter provides a data-driven analysis of what investing in stocks at an all-time high means for investors today.
Listen now and learn:
The significance of all-time highs in the stock market How current dynamics fit into the natural growth cycle of the market Insights into balancing risk and opportunities that lead to confident investment decisionsVisit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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Callie Cox, an acclaimed investment analyst, shares her expertise on navigating the complexities of the financial world in 2024. Tune in for an enlightening discussion that blends technical analysis with practical advice for both seasoned and aspiring investors.
Listen and learn:
What sparked the year-end rally and what to expect in 2024
Key insights from eToro’s Retail Investor Survey
What to expect from Big Tech in 2024
Detailed show notes and resources can be accessed at www.thelongterminvestor.com.
[1:30] Reflecting on the Fourth Quarter 2023 Rally
[9:30] Market Leadership and Trends
[15:10] The Surge in Money Market Fund Flows
[19:20] The Case For Optimism in 2024
[22:50] Insights from eToro’s Retail Investor Survey
[29:15] Potential Impact of a Bitcoin ETF
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This episode explores the groundbreaking approval of spot price bitcoin ETFs by the SEC. Understand the impact of this development on investors
Listen now and learn:
How spot price bitcoin ETFs differ from previous bitcoin ETF products The nuances of popular bitcoin investment theses Important questions to ask prior to investing in bitcoinVisit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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This episode features a deep conversation with renowned author and coach Brad Stulberg, exploring the intricate dynamics of mastering change in both personal and professional spheres.
Drawing from Stulberg’s latest book, “Masters of Change: How to Excel When Everything is Changing – Including You,” they delve into the science behind change and how individuals can navigate change effectively.
Listen now and learn:
How embracing change paves the path to true stability Way to achieve rugged flexibility Why core values play an essential role as anchors amidst changeVisit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[2:14] The Science of Change
[7:20] Rugged Flexibility and The Importance of Core Values
[16:00] How a Diversified Identity Reduces Fear and Increases Resilience
[22:15] Tragic Optimism
[28:20] Reacting vs Responding to Change
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In this episode, we explore setting financial goals that transcend mere numbers.
Listen now and learn:
Why most money goals aren’t aligned with holistic wealth How to set meaningful financial goals Ways to align your spending with those goalsVisit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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This is the sixth episode of the Investing By Age series.
The episode originally aired in July of 2022 in a six-part series. Although this is a replay, the content shared is just as relevant today and important to consider for your finances.
As you retire and transition from saving to spending, there are several unique planning opportunities and challenges that arise.
Listen now and learn:
How to simplify your investments
Strategies for minimizing your total lifetime tax bill
Different ways to navigate healthcare costs
To listen to the entire 6-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to:
EP.56: Investing in Your 20s
EP.57: Investing in Your 30s
EP.58: Investing in Your 40s
EP.59: Investing in Your 50s
EP.60: Investing in Your 60s
EP.61: Investing in Retirement
You’ll also find all the show notes, free resources, and links mentioned in this episode.
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This is the fifth episode of the Investing By Age series.
The episode originally aired in July of 2022 in a six-part series. Although this is a replay, the content shared is just as relevant today and important to consider for your finances.
In your 60s, retirement is approaching quickly. The decisions you make in the few years leading up to retirement and the first few years of retirement are potentially the most impactful financial decisions of your lifetime.
Listen now and learn:
How to prepare for market downturns before retirement
A simple strategy for projecting future expenses
Where to download a comprehensive retirement readiness checklist
To listen to the entire 6-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to:
EP.56: Investing in Your 20s
EP.57: Investing in Your 30s
EP.58: Investing in Your 40s
EP.59: Investing in Your 50s
EP.60: Investing in Your 60s
EP.61: Investing in Retirement
You’ll also find all the show notes, free resources, and links mentioned in this episode.
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This is the fourth episode of the Investing By Age series.
The episode originally aired in July of 2022 in a six-part series. Although this is a replay, the content shared is just as relevant today and important to consider for your finances.Your 50s are the time you have the highest earnings and ability to save, so it’s time to make the most of it.
Listen now and learn:How to take advantage of your peak earning years
Ways to eliminate unnecessary investment risks
Why you may need to update your retirement goals
Two important reasons to rethink your asset allocation in your 50’s
To listen to the entire 6-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to:
EP.56: Investing in Your 20s
EP.57: Investing in Your 30s
EP.58: Investing in Your 40s
EP.59: Investing in Your 50s
EP.60: Investing in Your 60s
EP.61: Investing in Retirement
You’ll also find all the show notes, free resources, and links mentioned in this episode.
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This is the third episode of the Investing By Age series.
The episode originally aired in July of 2022 in a six-part series. Although this is a replay, the content shared is just as relevant today and important to consider for your finances.
As you move into your peak earning years, it’s all about making smart decisions right now.
Listen now and learn:
How to optimize your retirement savings
Ideas for strategically investing for education costs
5 estate planning documents you need to get
To listen to the entire 6-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to:
EP.56: Investing in Your 20s
EP.57: Investing in Your 30s
EP.58: Investing in Your 40s
EP.59: Investing in Your 50s
EP.60: Investing in Your 60s
EP.61: Investing in Retirement
You’ll also find all the show notes, free resources, and links mentioned in this episode.
- Visa fler