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S4: Episode 2 – Money Magic With Laurence Kotlikoff – Part 2



“The biggest risk we face in old age, or maybe the second biggest apart from healthcare costs, is longevity risk – out running our money.” – Laurence Kotlikoff

In this episode, Stephen Stricklin continues his conversation with Laurence Kotlikoff, a Professor of Economics at Boston University and best-selling author. They cover several more details about Laurence’s new book, “Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life”.

A large part of the discussion was around the 5 main risks to one’s living standard that Larry talks about in greater detail in his book. Those 5 risks are earnings risk, mortality risk, longevity risk, inflation risk, and investment risk.

They discuss:

  • Chapter five of his book titled, Get House Rich.
  • Moving out of his house in Boston to a “new” house in Rhode Island.
  • Living Standard and mitigating several different risks.
  • The 5 main risks mentioned in Money Magic.
  • Laurence shares the importance of annuities and why they got one for his mom when she was 88 years old.
  • Stephen and Paul end the episode talking about the importance of retirement plans that are specific to the individual.

Connect With Laurence Kotlikoff:

Connect With Stephen Stricklin:

About Our Guest:
Laurence Kotlikoff 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, and President of Economic Security Planning, Inc, and a New York Times best-selling author. His columns, articles, and books cover personal finance, generational policy, climate policy, inequality, tax reform, Social Security, banking, robotization, growth, and much more.


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S4: Episode 1 – Money Magic With Laurence Kotlikoff – Part 1



Welcome to season 4 of the Simplify Your Retirement Podcast! Season 4 will be packed with exciting guests, and popular FAQ’s Stephen gets from clients.  

In part one of this two-part interview, Stephen Stricklin is joined by Laurence Kotlikoff, a Professor of Economics at Boston University and a best-selling author. They discuss Kotlikoff’s brand-new book, “Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life”.

A magician isn’t smarter than anyone else, he just happens to learn something that he can convey in a way that surprises people. Laurence’s goal is just that – to share what he’s learned in an unconventional and entertaining way that will transform your financial thinking and show you how to improve your financial future.

He shares snippets from his book such as: Why he decided to become an Economist rather than a doctor, why students should consider not borrowing for college, finding a job you love but others hate, among other things. 

Laurence discusses:

  • Why he decided to become an Economist instead of a doctor
  • Discusses his latest book, “Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life”
  • Why he has a chapter in his book on not borrowing for college. 
  • Thinking about those who don’t graduate or even go to college. What are they going to do?
  • Having a smooth living standard over your lifetime.
  • And more

Resources:

https://simplifyyourretirement.com
Season 1
Season 2
Season 3
Larry’s original Episode: S2 Ep3

Connect With Laurence Kotlikoff:

https://kotlikoff.net
LinkedIn: Laurence Kotlikoff
http://maxifi.com

Connect With Stephen Stricklin:

stephen@wisewealth.com
WiseWealth.com
Simplify Your Retirement
LinkedIn: Stephen Stricklin
LinkedIn: Wise Wealth LLC

About Our Guest:
Laurence Kotlikoff 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, and President of Economic Security Planning, Inc, and a New York Times best-selling author. His columns, articles, and books cover personal finance, generational policy, climate policy, inequality, tax reform, Social Security, banking, robotization, growth, and much more.