Episode 148

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Published on:

28th Aug 2024

Reverse Budgeting: Low-Stress Way to Spend Guilt-Free and Keep Your Finances Healthy | E148 Peter Lazaroff

Things can get complicated quickly in the world of personal finance. From investing and budgeting to estate planning and insurance, there are multiple ways to accomplish what you need to get done.

Let’s take investing for example. There are different strategies including but not limited to passive index investing, value buying, the 3-fund portfolio, rental real estate, stock picking, target date funds, 70/30 splits…Honestly, I could rattle off a hundred different options which is why I wouldn’t be surprised if you got overwhelmed by all of the choices.

The more experience I get, the more I realize, that simple is usually better. Although the word simple can mean different things to a lot of people, at the heart of the meaning, it means something is easily understood and easily done.

So how can we simplify money? Well, my friend Peter Lazaroff wrote a whole book about the topic called Making Money Simple and he is on the show today to share some of those tips. In particular, we focus on investing and budgeting.

On the investing side, we discuss why Peter chose to invest his personal portfolio into one index fund although he has gained a ton of knowledge managing six billion dollars as the Chief Investment Officer at Plancorp. And if you hate tracking every dollar you spend, we discuss an alternative to traditional budgeting, the reverse budget, which is a simplified way to make sure your spending is aligned with your income.

Key Takeaways:

  • What matters whenever it comes to successfully investing
  • Why Peter invests in only one mutual fund
  • The most important factor in investing
  • How to simplify spending by reverse budgeting
  • How to enjoy your money as it grows


Mentions:

Making Money Simple (free book): https://peterlazaroff.com/freebook

How Peter Invests Guide: www.HowPeterInvests.com


More of Peter:

The Long-Term Investor Podcast: https://peterlazaroff.com/podcast


More of The Struggle is Real:

Find show notes and more at https://www.tsirpodcast.com/

Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/

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FI Minded: Achieve Financial Independence & Have Fun Doing It
Achieve Financial Independence & Have Fun Doing It
Want to achieve Financial Independence (FI) without missing out on life?

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