In today’s interview, Lori Price, long-time financial advisor and CEO of Price Financial Group, talks about the challenges people face while planning out their finances for the long-term. She touches on the kinds of decisions that tend to sabotage people’s futures, and some tips anyone should consider to prevent long-term money troubles.

She also tells stories about how she helped her clients remain financially sound for a long time, despite living longer than they themselves have anticipated. Lori gives insight as well on her all-woman firm, and how she has thrived despite starting out with a smaller talent pool.

In addition, she relates her affiliation with organizations that work to help educate young girls and women in the financial world, such as Rock The Street, Wall Street and Second Saturday, and her own initiatives to help raise awareness on charitable giving.

It may be difficult sometimes to make tough financial decisions. However, Lori will help you realize the necessity of making those hard choices, and will ultimately give you a perspective on how to make your dream lifestyle happen.

 

In this episode, you’ll learn:

• The importance of knowing and getting a handle of your spending habits.
• Why you need a nest egg that will last you a very long time, even when you are past retirement.
• In what ways charitable giving may be better than taking some appreciated stock.
• One of the most surprising yet expensive costs retirees pay for and don’t normally plan for.

Tweetables:

• The first thing that your financial planner needs to know about you isn’t your assets; it’s your spending.
• It’s the same whether you’re going to stay married or get divorced. You have to have a cushion, and you have to make those hard decisions.

Big Takeaways:

• One of the first important steps in financial planning is taking a good look into your spending habits. Once you get a handle on your spending, it will be easier to plan for your financial future.
• Controlling your spending through the years will help make you better off on the long run. Sometimes, it will be necessary to make tough-love financial decisions.
• As people are living longer nowadays, it is a good idea to prepare for a long life. This includes looking into future inflation and future health care expenses.

Related Links & References:

• Lori’s Linkedin: www.linkedin.com/in/lorirpricecfp
• Price Financial Group: www.pricefinancialgroup.com
• Price Financial Group on Facebook: www.facebook.com/pages/Price-Financial-Group-LLC/161391127222430
• Rock The Street, Wall Street: www.rockthestreetwallstreet.com
• Second Saturday: www.secondsaturday.com

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