Stay ConnectedWe all need to make smart decisions with our money. The Long Term Investor shows you how to do it.
Hosted by the Chief Investment Officer at Plancorp and author of “Making Money Simple,” Peter Lazaroff distills complex financial matters into easily digestible lessons.
If you’re ready to get a clear plan for your investments and personal finances, you’re in the right place.
Copyright: © Copyright Peter Lazaroff
Are we entering a decade of low returns?
Goldman Sachs projects that S&P 500 returns will average only 3% annually over the next ten years—far below the historical norm of 13% in the last decade. While I’m not a believer in predicting the future, there are several useful elements in their research worth discussing.
In this episode, I’ll explore what’s behind this forecast and what it means for investors. Plus, how to adapt to the shifting landscape with strategies that go beyond the traditional S&P 500.
Listen now and learn:
How one goes about forecasting future returns in the first place
Historical instances where stocks underperformed cash for more than a decade
Implications and actionable considerations for a period of lower US stock returns
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
What happens if the spouse who handles all the finances suddenly isn’t there?
In this episode, Senior Wealth Manager Sara Gelsheimer of Plancorp joins us to explore why both spouses need to be involved in financial decisions. Whether due to sudden life changes or the realities of aging, having only one financial decision-maker can leave the other spouse unprepared for critical responsibilities. Sara shares practical steps and real-life examples that highlight the importance of financial involvement for both partners.
Listen now and learn:
The risks of relying on a single household financial decision-maker
Actionable steps the “non-money” spouse can take to build confidence
How couples can foster financial alignment and open communication
The benefits of choosing an advisor both spouses trust
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[00:04] The Risks of Having Only One Financial Decision-Maker
[02:24] Key Statistics on Women and Financial Literacy
[04:41] The Benefits of Both Spouses Being Financially Informed
[06:16] Real-Life Examples of Preparing Non-CFO Spouses
[11:05] Actionable Steps for the Non-CFO Spouse
[14:48] How the CFO Spouse Can Help Their Partner
[18:33] How to Choose a Financial Advisor for Both Spouses
[22:50] Resources for the Non-CFO Spouse
Do you feel like something’s missing, even with a solid financial foundation? Or wonder if there’s a better way to use your money for happiness?
In this episode, I sit down with Daniel Crosby, Ph.D., behavioral finance expert and author of The Soul of Wealth, to discuss why the traditional approach to money often leaves us wanting more—and what actually leads to lasting satisfaction. Tune in to learn how to align your financial journey with deeper values, break free from social comparison, and take practical steps toward a more meaningful, joy-filled life.
Listen now and learn:
The best way to spend money on yourself
How social comparison impacts financial decisions
Why relationships have such a powerful impact on financial well-being
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[0:30] The Inspiration Behind The Soul of Wealth
[2:10] Charitable Giving and the Path to Abundance
[05:15] Investing in Your Well-Being and Personal Development
[10:10] The Impact of Social Comparison on Financial Decisions
[17:00] Developing Better Habits for Financial Success
[23:00] The Power of Relationships in Wealth and Happiness
[27:30] The Link Between Money and Happiness
[33:20] Continual Learning and the Power of Novelty
In this episode, we sit down with Josh Brown, CEO of Ritholtz Wealth Management, to explore the major shifts shaping Wall Street and what they mean for today’s investors. From the rapid rise of private equity and alternative investments to the growing influence of passive investing, Josh breaks down the trends every investor needs to understand.
Listen now and learn:
Why private equity and alternative investments are gaining traction
The top 3 ways advisors add value beyond just picking investments
How technology is helping investors avoid emotional decisions during market corrections
Whether you’re a DIY investor or work with an advisor, this episode will give you a clear view of the forces driving today’s financial landscape—and how you can use them to your advantage.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[1:10] The Shift from Traditional Media to Blogs and Social Media
[6:10] The Growth of Passive Investing and its Impact on Wall Street
[9:05] Private Equity and Alternative Investments
[17:45] Advisors' Role in Navigating Financial Trends
[24:50] The Value of Financial Advisors and DIY Investors
[28:00] Market Corrections and Investor Behavior
[39:50] Josh Brown’s Work on Billions
The Tax Cuts and Jobs Act is set to expire in 2026, which could mean higher taxes for many. This upcoming tax law change has many asking: Should I do Roth conversion NOW to lower my taxes?
Roth conversions can save you a lot of money—but you have to weigh multiple factors in a careful way. I’ll cover sample scenarios and careful considerations in today’s episode.
Listen now and learn:
Who benefits most from Roth conversions and why
How timing and your tax bracket can make or break a Roth conversion strategy
4 real-life examples of using Roth conversions to lower taxes
Why a calculated, strategic approach to Roth conversions is essential
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
In this episode, I’m joined by Marlena Lee from Dimensional Fund Advisors for a deep dive into evaluating investment fads and how to build better portfolios. We also explore the importance of global diversification and why certain investments may not belong in your long-term strategy.
Listen now and learn:
A framework for evaluating whether an investment fad deserves a place in your portfolio.
The truth about private investments and why gold or crypto might not be the hedges you think they are.
Why past performance and company size don’t always indicate future returns.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[0:40] Eugene Fama’s Contributions to Finance
[6:39] Evaluating Investment Fads
[11:10] Scarcity, Growth Stocks, and Extrapolating Returns
[14:13] The Importance of Global Diversification
[29:46] Gold and Cryptocurrencies as Investments
[36:36] Hedge Funds and Private Investments
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.
In today’s episode, you’ll hear an interview I did on “The Struggle Is Real” podcast. This interview dives into how to simplify investing and budgeting in a way that feels more approachable.
Listen now and learn:
What matters whenever it comes to successfully investing
My straightforward investment strategy
The most important factor in investing
How to simplify spending by reverse budgeting
How to enjoy your money as it grows
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
In this episode, we tackle one of the biggest challenges investors face: making smart, strategic decisions in an unpredictable market.
Drawing inspiration from the game of chess, my guest Rubin Miller will explain how to think several steps ahead when it comes to your portfolio, outmaneuver market uncertainty, and avoid costly mistakes. We also discuss the role of “luck” in investing and how good decisions do not always lead to good outcomes.
With his chess expertise and role as Chief Investment Officer, Rubin has a knack for explaining tricky investment concepts so investors can feel confident in the decisions being made for them.
Listen now and learn:
The similarities and differences in decision making with chess and investing
Why understanding the role of skill and luck is critical for long-term investing success
How tools like options and diversification can help you manage risk and build a resilient portfolio
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[0:54] Chess, Investing, and the Art of Navigating Uncertainty
[09:17] The Role of Skill and Luck in Investing
[11:49] The Japanese Mochi Company: Focusing on What You Do Best
[17:02] Certainty vs. Uncertainty: Building a Thoughtful Portfolio
[24:02] The Challenges of Portfolio Construction
[29:04] The Role of Options in Risk Management
When a CD matures, you have several options: renewing the CD, moving the funds to a high-yield savings account, or exploring higher-risk, higher-reward investments. Each choice comes with its own set of benefits and drawbacks.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Wes Gray, founder of Alpha Architect, joins the show to explore the evolution from traditional stock picking to data-driven quantitative investing.
Listen now and learn:
Why even a perfect stock-picking strategy can still fail during market downturns
The power of factor investing and how it systematically enhances portfolio returns
A critical perspective on investing in emerging markets and private equity
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[0:30] From Stock Picker to Quant: Wes Gray’s Investing Journey
[8:39] The Efficient Market Hypothesis and the Reality of Active Investing
[12:29] Factor Investing Explained
[19:31] Why Value Investing Has Struggled
[29:54] The Role of Momentum in a Portfolio
[33:36] A Critical Look at Emerging Markets and Private Equity
In the realm of investing, nothing is more seductive than picking a winning stock. Unfortunately, investing in individual stocks is incredibly risky. But here’s the good news: picking winning stocks isn’t necessary.
Listen now and learn:
A history of individual stock returns
How professional investors perform
The best way to own winning stocks
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Taylor Schulte joins the show for a dive deep into the world of dividend investing. Tune in as we debunk common myths and provide a clear framework for building a successful investment portfolio.
Listen now and learn:
The drawbacks of chasing high-yield investments and how to build a balanced portfolio
How dividend-focused funds perform relative to the market
Tax implications of dividends vs stock buybacks
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[0:30] Introduction to Dividend Investing and Common Misconceptions
[4:45] Building a Portfolio: Yield Focus vs. Total Return Approach
[12:30] Performance of Dividend Strategies
[17:30] Understanding Buybacks and Tax Implications
[22:15] Retirement Income Strategies and Aligning Investments with Goals
With the S&P 500 rapidly declining over the past two weeks, what should investors be doing?
Listen now and learn:
How often the stock market falls
What triggered the most recent stock market decline
Timeless wisdom for periods of stock market losses
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
If you want to maximize your investing returns beyond what traditional methods offer, discover leading edge opportunities, or simply stay up to date on the latest investing trends, alternative investments may be for you. The pursuit of diversification is not as straightforward as it once was — and the classic 60/40 portfolio may no longer be sufficient in helping investors achieve their financial goals. Alternative assets are emerging and may start to play a more prominent role in future investor portfolios.
This episode is recorded LIVE from the 2024 Morningstar Investment Conference with Phil Huber. He's the Chief Investment Officer for a multi-billion dollar wealth management firm and author of The Allocator’s Edge: A Modern Guide to Alternative Investments and the Future of Diversification.
Listen now and learn:
Why traditional asset allocation strategies may face challenges going forward
How private credit has emerged as one of the fastest growing alternative asset classes
The benefits of interval funds relative to traditional drawdown funds
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[02:23] The Case for Alternative Investments
[06:15] Understanding and Implementing Alternatives
[09:37] Educating Clients on Alternatives
[14:21] Exploring Private Equity
[16:45] The Rise of Private Credit
[23:52] Interval Funds: A Modern Solution
[32:14] Crafting an Alternative Investment Strategy
[36:09] Effective Communication and Benchmarking
In this episode, we're dissecting a strategy that many believe is a must-do for every investor: Tax-Loss Harvesting (TLH). But what if I told you that this widely recommended tactic might not be beneficial for everyone?
Listen now and learn:
The three components necessary to derive value from tax loss harvesting
Reasonable expectations of value from tax loss harvesting
Actions you can take to maximize the potential benefits of tax loss harvesting
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
If you’ve ever felt anxious or overwhelmed by market volatility, don't miss this episode. I’m joined by Darius Foroux, a newsletter writer to 100,000 subscribers and author of the brand new book The Stoic Path to Wealth. His steady approach helps investors navigate the chaos of modern-day markets with discipline, emotional distance, and self-mastery.
Listen now and learn:
How a Stoic approach to investing leads to better consistency and less emotional decisions
The role education and skill-building play in achieving financial freedom
Essential stock market fundamentals and practical strategies for financial success
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
[1:57] Importance of Investing and Challenges Investors Face
[06:40] Managing Emotions and Staying Consistent
[13:33] The Role of Education in Financial Success
[19:03] Understanding the Stock Market
[28:58] Balancing Life and Investing
[35:22] Practical Wisdom and Strategies for Investors
This episode dives into a topic that grabs investors’ attention every four years: the Presidential election.
The potential impact on the economy, policy, and markets often leads to increased anxiety and speculation.
Listen now and learn:
The historical impact of elections on the stock market
How markets have performed during different presidencies
A framework for thinking about investment decisions during election season
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
There are few topics as broadly misunderstood as US government spending and, as a result, many conversations regarding Social Security are off the mark. The financial well-being of Social Security is obviously important from a policy perspective, but perhaps even more important from a financial planning and personal investment perspective.
Listen now and learn:
The sustainability of Social Security
Potential policy changes to Social Security
How to account for Social Security in your financial plan
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The US national debt is a significant and often misunderstood topic: With the current debt sitting at around $34.6 trillion, many wonder if this signals an impending crisis. Peter breaks down what this figure means and explores the broader implications (many of which may surprise you).
Listen now and learn:
Differences between the deficit, the debt, and the debt ceiling
How US government finances are very different than household finances
Why inflation, not default, is the real risk of our deficit spending
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
While the US dollar currently enjoys a dominant position as the world's reserve currency, various factors could challenge its supremacy. Emerging economies, digital currencies, geopolitical shifts, and global financial reforms all pose potential threats. Understanding these dynamics is crucial for navigating the future of global finance.
Listen now and learn:
What it means to be a reserve currency
Why the US dollar is the dominant reserve currency
The probability and implications of the US dollar losing its reserve status
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Jesse Cramer, author of The Best Interest, joins the show to share his in-depth research into the astounding math behind car ownership. This episode originally aired in 2023 and was a top interview of the year. Although this is a replay, the content shared is just as relevant today and important to consider for the impact big purchases can have on your finances.
Listen now and learn:
How to evaluate the impact of time owned vs miles driven
When purchasing a used car is smarter than buying a new car
How leasing compares to owning from a cost perspective
To see the original show notes, YouTube interview, and resources visit this page: EP 116: The Astounding Math Behind Car Ownership with Jesse Cramer.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
TIMESTAMPS
(4:08) The Primary Costs of Car Ownership
(11:08) Buy a New Car vs Buying a Used Car
(17:48) The Difference in Cost of Owning a Gas vs Electric Vehicle
(19:08) Evaluating a Car’s Utility
(28:08) Buying a Car vs Leasing a Car
(32:08) When to Repair a Car vs Buy a Car
The problem with conventional wisdom is that it represents the masses, but there's a whole host of things that conventional wisdom gets wrong. By default, that feeds into what investors get wrong. This episode with Ashby Daniels originally aired in 2023 and was a top interview of the year. Although this is a replay, the content shared is just as relevant today and important to consider for your investing strategy and how you think about risk.
Listen now and learn:
What investors get wrong
A new way to think about risk
How to define investment success
To see the original show notes, YouTube interview, and resources visit this page: EP 104: Challenging Conventional Wisdom with Ashby Daniels.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
TIMESTAMPS
(3:32) Blaming the Market Instead of Yourself
(10:03) Defining Risk
(16:49) How to Define Investment Success
(21:33) No Need to Be Smart. Just Don’t Be Stupid
(30:48) Investing Like an Optimist
(35:57) The Value of a Financial Advisor
Michael Kitces is one of the industry’s leading experts on all things financial advice and financial planning. In this live episode recorded at Wealth Management EDGE, Michael explains the evolution of financial advice and how AI might impact the profession going forward. This episode originally aired in 2023 and was a top interview of the year. Although this is a replay, the content shared is just as relevant today and important to consider for the evolution of financial advice.
Listen now and learn:
The evolution of financial advice from the 1960s to present
Ways consumers benefit from financial advisors moving up the value chain
How AI might impact the financial advice profession
To see the original show notes, YouTube interview, and resources visit this page: EP 102: AI and the Evolution of Financial Advice with Michael Kitces [LIVE]
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
TIMESTAMPS:
(3:33) The Evolution of Financial Advice
(12:33) The Lack of Barriers to Entry for Giving Financial Advice
(18:33) The Impact of AI on the Financial Advice Profession
In this episode, I’m joined by Carl Richards, a Certified Financial Planner (CFP®) and creator of the Sketch Guy column, appearing weekly in The New York Times since 2010. This episode originally aired in 2023 and was a top interview of the year. Although this is a replay, the content shared is just as relevant today and important to consider for your investing strategy.
Listen now and learn:
How investors fall victim to the behavior gap
What it means to do real financial planning
The best way to avoid “The Big Mistake”
To see the original show notes, YouTube interview, and resources visit this page: EP 100: What Real Financial Advice Means with Carl Richards.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
TIMESTAMPS:
(04:30) What is the Behavior Gap?
(07:45) Why Investors Get Distracted
(11:05) What Investors Need When Markets Are Scary
(17:30) Real Financial Planning
(24:30) Getting Ahead vs. Having Enough
(30:00) The Value of a Real Financial Advisor
Dr. Burton Malkiel, author of A Random Walk Down Wall Street, joins the show to talk about the 50th anniversary of his investment classic. This episode originally aired in 2023 and was a top interview of the year. Although this is a replay, the content shared is just as relevant today and important to consider for your investing strategy.
Listen now and learn:
The two biggest mistakes investors make
Lessons from market bubbles of the past
Practical ideas for achieving investment success
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
(03:00) What Efficient Market Hypothesis Means for Investors
(19:15) Lessons Learned from The History and Bubbles
(29:00) How Interest Rates Are Impacting Stock Prices
(32:30) The Case for Diversification
(42:05) Behavioral Finance
Khe Hy of Rad Reads and The Examined Life Podcast joins to discuss the pursuit of meaningful wealth by balancing money, time, and happiness.
Listen now and learn:
Why not all hours are valued equally and the importance of aligning activities with true life purposes
How the value of money diminishes as wealth growths
The issue with retirement planning that focuses too much on trading time today for more time later
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
(06:18) The Value of Time
(10:12) Diminishing Returns of Money and Marginal Utility
(14:38) Balancing Financial Independence and Time
(20:34) Questioning Financial Independence Conventional Wisdom
(31:36) The Scarcity Mindset and Non-Money Fears
How do you choose between a Roth and a Traditional 401(k)? Explore the financial implications of each option as we break down what it means for your current taxes, future gains, and overall retirement strategy.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
This episode welcomes back Sara Gelsheimer, Senior Wealth Manager at Plancorp, to discuss the challenges and strategies for female breadwinners, balancing career and family, and the importance of integrating mental wellness into financial planning.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
(02:04) Empowering Women in Finance
(05:54) Challenges for Female Breadwinners
(08:34) Tailored Financial Planning for Women
(09:09) Balancing Career and Family as a Working Mom
(14:37) Financial Planning Strategies for Women Leading Financially
(21:59) Integrating Mental Wellness into Financial Planning
(24:00) Emerging Financial Trends and Advice for Women
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:
Visit 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
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:
Visit 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
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:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
In this episode, Peter shares his interview from Investipal’s Podcast about all things portfolio construction and investment management.
Listen now and learn:
How Peter thinks about designing portfolios
When to think about deviating from an index strategy
Novel ways to remove bias from a portfolio decision
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Episode Timestamps:
(02:59) Portfolio Construction Philosophy
(12:16) Quantitative vs. Fundamental Approach
(30:45) Reducing Emotional Biases
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:
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
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:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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"
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:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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:
Be 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.
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
Peter provides a data-driven analysis of what investing in stocks at an all-time high means for investors today.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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
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:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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:
Visit 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
In this episode, we explore setting financial goals that transcend mere numbers.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
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:
You’ll also find all the show notes, free resources, and links mentioned in this episode.
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:
You’ll also find all the show notes, free resources, and links mentioned in this episode.
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:
You’ll also find all the show notes, free resources, and links mentioned in this episode.
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:
You’ll also find all the show notes, free resources, and links mentioned in this episode.
This is the second 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 30s are the time to begin building lasting wealth to meet life’s growing demands.
Listen now and learn:
Best practices for consolidating your investments
How to prioritize paying down debt vs investing goals
The 3 essential components to protecting you against the unexpected
To listen to the entire 6-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to:
You’ll also find all the show notes, free resources, and links mentioned in this episode.
This is the first episode in 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.
The financial decisions you make in your 20s are arguably more impactful than any other time in your life because of the time your decisions have to compound.
Listen now and learn:
Why it’s important to start investing now
The essential elements to investing in your 20s
The most important thing to avoid in your investments
To listen to the entire 6-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to:
You’ll also find all the show notes, free resources, and links mentioned in this episode.
What does it mean to be a long-term investor? In this special mash up episode, all the show’s guests from the past year weigh in.
Listen now to hear from Ben Carlson, Taylor Schulte, Burton Malkiel, Phil Huber, Rubin Miller, Dasarte Yarnway, Robin Powell, Brian King, Jeremy Schwartz, Rick Ferri, Mike Piper, Carl Richards, Ashby Daniels, Polina Pompliano, Mathieu Pellerin, John Jennings, Cait Howerton, Tyler Olson, Jesse Cramer, Meir Statman, Susan Jones, Hal Hershfield, William Bernstein, and Peter Lazaroff.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Recorded in front of a live audience for the CFA Society of Detroit’s Annual Luncheon, Morgan Housel shares key insights from his new book Same As Ever. Morgan Housel is a partner at the Collaborative Fund. His first book, The Psychology of Money, has sold over four million copies and has been translated into 53 languages. Listen now and learn:
Why people get so focused on predictions
How optimism and pessimism are needed for success
The importance of stories in a world overflowing with data
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
William Bernstein, author of The Four Pillars of Investing, joins the show to talk about the most recent edition of his highly influential work.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Just as you'd scrutinize a potential new car's specs or a house's foundation, your investments deserve the same diligence. The Form ADV Part 2 offers a panoramic view into the inner workings of an advisory firm, from its business practices to the individuals pulling the strings behind the curtains.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Hal Hershfield is a Professor of Marketing, Behavioral Decision Making, and Psychology at UCLA’s Anderson School of Management. His research, which sits at the intersection of psychology and economics, examines the ways we can improve our long-term decisions.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Dive into the world of evidence-based investing, where empirical research informs portfolio strategies. meets portfolio construction. This episode unravels the science behind applying successful investing strategies and avoiding mistakes that can hinder your financial growth.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The time for year-end tax and estate planning is now, and this year it’s particularly important to get started as certain provisions from the Tax Cuts and Jobs Act will end soon. Plancorp’s Susan Jones, JD, CFP joins the show to explain these important planning opportunities that deserve your attention before the end of the year.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Live from Future Proof, the world’s largest wealth festival, Meir Statman talks about the evolution of behavioral finance and how the latest generation of behavioral finance focuses on holistic well-being.
Listen now and learn:
The three generations of behavioral finance
The difference between “errors” and “wants”
The tradeoffs between a financially optimal and behaviorally optimal portfolio
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Concentrated stock positions typically emerge through employee compensation, inheritance, or a singularly successful investment. But in all cases, a large individual stock position introduces unnecessary risk to your portfolio.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
When you plan to invest a large amount of money, you probably want to know when it’s best to invest that cash. Should you invest it all at once or dollar cost average over time?
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Jesse Cramer, author of The Best Interest, joins the show to share his in-depth research into the astounding math behind car ownership.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The Federal Reserve recently unveiled a new payments system called FedNow that would replace the United State’s antiquated system created more than 50 years ago. But like anything else, change can cause anxiety and there is a lot of false information floating around making matters worse.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
In the second episode of a series about student loan debt, I’m joined by Tyler Olson, who provides financial advice and education for early and mid-career physicians.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Cait Howerton, CFP® shares her deep expertise in student loans and provides a broad overview on strategies for paying them off.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
John Jennings, author of The Uncertainty Solution joins the show to explain how to invest with confidence in inherently uncertain and unpredictable markets.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Building the perfect portfolio doesn’t matter one bit if it doesn’t align with your willingness and ability to take risk. Evaluating your own risk tolerance is difficult for individuals because of the emotions that are intertwined with investing.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
How does the choice of using index funds or core funds with an emphasis on value, size, and profitability impact your retirement savings?
Mathieu Pellerin, Senior Researcher and Vice President at Dimensional Fund Advisors, shares his recently published research on the impact of factor investing on retirement outcomes.
Listen now and learn:
How a core portfolio differs from an index portfolio
The impact of investment strategy on accumulation, decumulation, and bequest outcomes
When short-term ends and long-term begins
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The primary purpose of bonds is to reduce the overall volatility of the portfolio, but as we saw in 2022, that doesn’t mean they can’t lose money.
In fact, 2022 was the worst year for bonds in US history. And now that we’re in a new period of higher interest rates on money market funds, CDs, and short-term Treasury bills, I’ve noticed an increasing number of people wondering whether they should hold cash instead of bonds.
Listen now and learn:
How reinvestment risk impacts yield
Why investment goals drive your choice of cash vs bonds
Where diversification can help boost yield
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Jill Schlesinger, host of Jill on Money and award-winning business analyst for CBS News, joins the show to talk about her latest book: The Great Money Reset. Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The United States is an exceptional place to invest and they’ve historically delivered higher returns than international stocks.
That begs the question: Does it make sense to own international stocks? Are US stocks enough for your portfolio?
Listen now and learn:
The primary driver of recent US stock outperformance
Why factor investing in a global manner tells a different story
How International stocks perform during periods of low returns for US stocks
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Polina Pompliano is the author of HIDDEN GENIUS: The Secret Ways of Thinking That Power the World's Most Successful People. She is also the founder of The Profile, a media organization that studies successful people and companies.
Listen now and learn:
Why mental models are more important than life hacks
How to problem solve in a crisis
The difference between systems-based and outcomes-based thinking
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Retail investors are often curious about various aspects of AI, especially regarding its potential impact on the financial markets and investment opportunities. Some common questions asked by retail investors about AI include:
Listen now and learn:
Whether you’re investing in companies at the forefront of AI
Questions to ask about your existing holdings
How AI can and can’t be incorporated into portfolio construction
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The problem with conventional wisdom is that it represents the masses, but there's a whole host of things that conventional wisdom gets wrong. By default, that feeds into what investors get
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
There isn’t a better retirement savings account than a Health Savings Account (HSA).
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Michael Kitces is one of the industry’s leading experts on all things financial advice and financial planning. In this live episode recorded at Wealth Management EDGE, Michael explains the evolution of financial advice and how AI might impact the profession going forward. Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Plancorp’s CEO, Chris Kerckhoff, joins the show for a live recording at the Wealth Management EDGE Conference.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
In this episode, I’m joined by Carl Richards, a Certified Financial Planner (CFP®) and creator of the Sketch Guy column, appearing weekly in The New York Times since 2010. Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Using index funds in your stock portfolio has historically been a wise choice, but bond indexes have some inherent disadvantages that make them a less obvious choice.
Listen now and learn:
How bond indexing differs from stock indexing
The different types of active bond management
How to choose a fund that’s right for you
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The death of a spouse is one of the most emotionally challenging times of a person's life. In this financially driven conversation, Mike Piper explains the financial steps to take for a surviving spouse.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Bond funds are superior to individual bonds for four distinct reasons.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Rick Ferri, host of the Bogleheads on Investing podcast, joins the show to talk about the three components of successful investing.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
As consumers, we’ve come to expect customization and personalization with most things these days, whether it’s our coffee order, streaming preferences, or insurance policies…So why should our investments be any different?
With direct indexing, investors can create custom portfolios based on their specific goals, values, and preferences.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
This week, financial history expert Jamie Catherwood of Investor Amnesia joins the show to share the history of innovation in investment vehicles and how it impacts investors today. Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The daily news cycle is of very little importance when it comes to long-term investing, but the failure of Silicon Valley Bank is the type of news item that catches the attention of even the most disciplined investor.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
In this episode, I’m joined by Jeremy Schwartz, Global Chief Investment Officer at WisdomTree.
Prior to joining WisdomTree in 2005, Jeremy was a head research assistant for Professor Jeremy Siegel and, in 2022, became Professor Siegel’s co-author on the sixth edition of the book Stocks for the Long Run.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Being more than a year into the current bear market, it’s natural to wonder when it will end. In this episode, Peter shares his thoughts on where we are in the market cycle and how to invest going forward.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The SECURE 2.0 Act passed at the end of 2022 includes 100 changes to the rules governing retirement savings. In this episode, I’m joined by Plancorp’s Chief Planning Officer, Brian King, to talk through the most important opportunities resulting from the legislation.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Creating a budget and sticking to it is difficult for most people because the process is time consuming and restrictive. Traditional budgeting forces you to make every decision as if you live in a spreadsheet. But guess what? You don’t live in a spreadsheet.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Robin Powell is an award-winning journalist and campaigner for positive change in global investing, advocating better investor education, and greater transparency.
Listen now and learn:
● what evidence-based investing is all about
● The importance of developing a financial plan prior to choosing investments
● The differences in the adoption of evidence-based investing outside the U.S.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Measuring the success of your portfolio is important for several reasons, but most people don’t know how to properly measure the success of their portfolios.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Upon starting his independent advisor journey in 2015, Dasarte Yarnway quickly learned that underrepresented clients and advisors alike were overlooked and underserved.
Due to the grave statistics associated with this reality, he sought out to change the landscape of the financial services industry one client and one advisor at a time.
Listen now and learn about:
Changes in financial services over the last decade
The importance of diversity in financial services and how to increase it
The most important thing an advisor can do for business owners and entrepreneurs
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Now that yields are high enough to warrant our attention, what is the right way to measure yield?
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
I love talking shop with colleagues from around the country and wanted to give you a peek into those conversations, so this week I invited two of my favorite Chief Investment Officers, Phil Huber and Rubin Miller.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
How can two people with the same income, financial experiences, or education have very different levels of financial wellbeing? It’s simple: a sense of wellness doesn’t come from numbers alone. It’s all about the sense of security and freedom of choice each individual feels, both in the present and future.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Dr. Burton Malkiel, author of A Random Walk Down Wall Street, joins the show to talk about the 50th anniversary of his investment classic.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
The start of a new year is one of the best inflection points for your finances.
There are really nice tax planning, investment, and capital allocation opportunities right now. If this year you are considering seeking professional help with your finances, this top “rewind” episode from 2022 is for you.
By the end of this episode, you’ll understand how to structure your search for an advisor, research if they are trustworthy, and complete a structured interview with anyone you are considering hiring.
Listen now to learn:
To listen to the entire 3-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to:
You’ll also find all the show notes, free resources, and links mentioned in this episode.
Markets are down, inflation is high, and many are expecting a recession.
Are you ready?
In this “rewind” episode, I revisit a popular episode that is now more relevant than ever. By the end of this episode, I hope to help you answer an important question: “When is it time to seek professional help with your finances?”
Listen now to learn:
To listen to the entire 3-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to:
You’ll also find all the show notes, free resources, and links mentioned in this episode.
Successful retirement savers often find themselves in a high tax bracket during retirement (pensions, social security, RMDs, etc.). One of the downsides, in addition to a higher tax bill, is getting hit with Medicare IRMAA.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
After age 72, a Required Minimum Distribution (or RMD) must be withdrawn from your traditional IRAs and 401(k)s each year—whether you need it or not. Failing to take an RMD could result in a tax penalty worth up to 50% of the amount you should have taken.
Listen now and learn about seven strategies to minimize the RMD tax liability.
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
When it comes to maximizing wealth, there is usually going to be a mathematically optimal solution, but that solution doesn’t always align with our human emotions.
Ben Carlson, co-host of Animal Spirits and author of A Wealth of Common Sense, joins me to talk about the variety of instances where spreadsheets and theory don’t align with human emotions and reality.
Listen now and learn:
Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.
Our TOPPODCAST Picks 
