Making Money Simple: The Complete Guide to Getting Your Financial House in Order and Keeping It That Way Forever

by Peter Lazaroff

Simplify your financial life and ensure financial success into the future

Feeling paralyzed by the overwhelming number of complex decisions you need to make with your money?

You don't need to be an expert to achieve financial freedom. You just need a framework that makes the right choices simple and easy to make. Making Money Simple provides that much-needed process so you can get on the right track to long-term financial security.

This valuable resource provides a solid foundation for all the nuanced personal finance decisions you need to make as you go through your career, hit major life milestones, and look to grow wealth. It's a blueprint for financial achievement--even through tough-to-navigate situations where there are no clear-cut rules.

After you read Making Money Simple, you'll be able to create your personal plan for success using proven wealth management methods and real-world financial strategies. From basic financial principles to advanced investing techniques, you'll get comprehensive coverage of fundamental financial topics with easy-to-follow advice from author Peter Lazaroff, who draws from his expertise as the Chief Investment Officer of a multi-billion-dollar wealth management firm to give you the tools you need to simplify your financial situation and make the right moves at every opportunity.

Getting your finances in order doesn't have to be hard. It doesn't require fancy, convoluted investment strategies. Nor does it require keeping track of detailed spreadsheets. You just need this step-by-step process to get your financial house in order and keep it that way forever.

It doesn't matter what your specific situation is. We all need to understand our money--and what to do with it. Making Money Simple shows you how to:

Develop clear financial goals and plan for your future Understand the three crucial elements of building a strong financial house Implement effective investment strategies to grow your wealth and avoid costly mistakes Learn ten smart questions to ask when hiring financial professionals For those seeking to secure a solid financial future, Making Money Simple: A Complete Guide to Getting Your Financial House in Order and Keeping It That Way Forever is the roadmap to get you there.

Genres: Finance, Nonfiction, Personal Development, Money, Business, Audiobook, Personal Finance

176 pages, Hardcover

First published January 1, 2019

Reviews

[John · Rating 2 out of 5]

This book did not satisfy, although it could be a three-star. Firstly, it is one of those books that shamelessly plugs the authors' worksheets by providing a URL where to find them over ten times inside the book. Secondly, it is a very US-centric approach, and that does not make things simple. The author should have abstracted all the US-related things and instead put them in as one example of many - for instance, used the word "savings account" instead of "401k". Thirdly, it is way to complex to make money "simple". Fourthly, making money simple has little to do with the later focus on insurance. Fifthly, the book is aimed at people who already have the income level of a pretty rich person, examples are people who get 20k a month, or 150k a year - both sums that most people can only dream of, and thus almost the last chapter about getting a financial adviser makes little sense. Most families can barely save 100$ a month, not 4000$ - so it is not a complete guide, nor making money simple, nor fulfilling its promise of in any sense getting your financial house in order. In order to get your financial house in order on need to use much more time on budgeting and accounting basics, and then saving basics(no fancy rules of 72), spending basics, and smart tips regarding all those things. There are some here, but not much to make it simple.

[Avi-Gil · Rating 3 out of 5]

Chapters 1-5 and 10-11 live up to the title. Chapters 6-9 go in too much depth on investing and Chapter 12 basically says "I tried to make it easy, but you really need a financial advisor to guide you."

[Arun Verma · Rating 5 out of 5]

💰 𝑩𝒆 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍𝒍𝒚 𝒇𝒓𝒆𝒆.

First of all, I fell in love with the quality (pages) of this book.

The fact that inspired and made me interested in this book was that the author Peter Lazaroff had started investing in stock market at an early age of 13.

Due to inflation, currency depreciates every year. That’s why it’s a wise step to invest in stocks, bonds or property. We all need to understand our money and what to do with it. This book teaches you the same.

It helps you to make your financial plan by creating clear financial goals to maximize your wealth over time by offering various strategies to follow. It’s not just a book of investing tips, it’s a book that gives you a right mindset to achieve financial wisdom. It makes you work with various worksheets along the way to define your financial goals and how to reach them. Basics of investing and market (supply, demand) are also covered.

You’ll learn:

🔸 The effect of time and compounding on money.
🔸 Planning your both short term and long term goals and setting financial priorities.
🔸 Understanding your cash flow, restricting too much spending and prioritizing savings (reverse budgeting process).
🔸 How to avoid mistakes in order to invest in a smart, strategic way.
🔸 The importance of asset allocation and diversification when building a portfolio.
🔸 Importance of finding the right time to invest in the market and balancing risks.

It provides you tips beyond investing on how to make big financial decisions like buying a house, life insurance and how to choose a financial advisor if you need one.

[Aaron Dutton · Rating 2 out of 5]

Not captivating at all. Plus some errors that make me not trust the author.

On page 16-17, the author states “If your income is too high to invest in a Roth IRA, then the next best option is a deductible Traditional IRA”. However, on the facing page with the chart that lists the income limits, it shows the limit for Roth IRA as $203k and the Traditional IRA for $123k. If your income is too high for a Roth, then it will be too high for a Traditional. I had to reread this multiple times to convince myself that the author and editor had printed such an obvious mistake.

There is another less egregious misstatement on the same set of pages about how having money in a Traditional IRA can be a detriment to later Roth conversions but really that is only an issue for backdoor Roth contributions OR if you have non-deductible contributions to a Traditional IRA. That’s not going to be a scenario for many people and the footnote seems like it’s telling you to not contribute to a Traditional IRA because of this problem.

All in all, I did not find any compelling reason to recommend this book.

[Tomas Gronich · Rating 3 out of 5]

Making money simple by Peter Lazaroff is ... an okay book. I guess.

At first, a lesson in the importance of commas and stress you put on different words. This book is not about "MAKING MONEY, simple" but rather "making MONEY SIMPLE".

The author aspires to be a one-stop-book for all things personal finance and does an okay job at it, with one catch.

The - very important - catch is that it is very US-centric and focussed on US audience, because a lot is tied to US taxes and US systems.
It is not a bad book, just very dry, somewhat boring but that is what you want from a personal investing book. He does cover most of the basics quite well, even though non-US readers can drop 30% of the book as it will be of no use to them.

If you are an Australian, like me, rather read the Barefoot Investor. Similar learning, but in a much more entertaining and easy-to-read way. Also - caters more to the Aussie audience.

#book #bookreview #personalfinance #peterlazaroff #makingmoneysimple #bookstagram #booklover #review #financebooks #barefootinvestor

[Pradeep Kumar · Rating 5 out of 5]

Thank you, Mr. Peter, for this insightful book on managing money. It provides a thorough understanding of financial management principles, especially tailored for readers in the United States. However, the concepts are universal and highly relevant, no matter where in the world we live. The book goes beyond mere tips; it delves into the psychology behind spending, saving, and investing, offering valuable perspectives on building a secure financial future. Despite the U.S.-centric examples, the fundamental ideas and strategies can be easily adapted to suit financial landscapes in other countries. Overall, it’s a well-rounded guide that empowers readers to make informed financial decisions.

[JW · Rating 3 out of 5]

Some good basics, but very Americentric in the options it provides potential investors.

[Sarah Deacon · Rating 2 out of 5]

Review of basic concepts and more in depth into investing. I like other books on this topic better but this one is decent.

[Jen · Rating 5 out of 5]

This is the best of the handful of financial overviews I’ve read the past couple of months. It’s a great place to start.

[Reader · Rating 4 out of 5]

Great in depth advice explained easily. It's only heavily focused on United States tax system.

[Gloria · Rating 2 out of 5]

It’s too American. Not for a broader audience. Focuses too much on the American financial system.

[Reece Powell · Rating 2 out of 5]

More of a guide than anything and nothing too dissimilar to books such as rich dad poor dad etc.

[Sara J · Rating 4 out of 5]

Straightforward presentation of the basics of personal finance. I think it would be a great introduction for beginners with an interest in building a financial plan.

[Enoch · Rating 4 out of 5]

I liked this book. Short practical and actionable.