The rich should be investing a smaller share of their assets in stocks than the poor. The economics has very counter intuitive prescriptions, but t once you think about them, they're quite logical. But what we as economists are saying with respect to personal financial matters is almost at complete right angles to what conventional adviceis provided on every topic. I know lots of financial planners who are trying their best, but i think the tools of personal finance that they're using are basically product driven.
#329: Have you ever thought about how an economist views financial planning? Would you guess that it's vastly different from how some financial planners approach this work?
Today's guest, Laurence Kotlikoff, is a Professor of Economics at Boston University. The Economist named him one of the world's 25 most influential economists in 2014. Professor Kotlikoff has written 19 books, and hundreds of professional articles and Op-Eds.
He's here to explain why economists take a different view than financial planners on investing, retirement planning, and risk mitigation.
For more information, visit the show notes at https://affordanything.com/episode329
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