Episode
#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
1:50:15
Published: Thu Jan 17 2019
Description
"You spend the first 20 years of being rich accumulating all of this stuff. And then you'll spend the next 20 years trying to get out of one thing after another to simplify your life." — Peter MalloukPeter Mallouk (@PeterMallouk) is the President of Creative Planning, one of the largest independent wealth management firms in America.Creative Planning provides wealth management services to clients, manages over $36 billion for clients in all 50 states and abroad, and has been featured as the number one independent wealth management firm in America by Barron's (2017).Peter is featured in Worth magazine's Power 100, featuring the most powerful men and women in global finance, the only financial planner on the list (2017 and 2018). Creative Planning was featured in Forbes in 2016 as the number one RIA for growth over the last 10 years.Peter is the co-author (with Tony Robbins) of Unshakeable: Your Financial Freedom Playbook.Please enjoy!Click here for the show notes for this episode.This podcast is brought to you by 99designs, the global creative platform that makes it easy for designers and clients to work together create designs they love. Its creative process has become the go-to solution for businesses, agencies, and individuals, and I have used it for years to help with display advertising and illustrations and to rapid prototype the cover for The Tao of Seneca. Whether your business needs a logo, website design, business card, or anything you can imagine, check out 99designs.You can work with multiple designers at once to get a bunch of different ideas, or hire the perfect designer for your project based based on their style and industry specialization. It's simple to review concepts and leave feedback so you'll end up with a design that you're happy with. Click this link and get a free $99 upgrade.This episode is also brought to you by LegalZoom. I've used this service for many of my businesses, as have quite a few of the icons on this podcast, such as Automattic CEO Matt Mullenweg of WordPress fame.LegalZoom is a reliable resource that more than a million people have already trusted for everything from setting up wills, proper trademark searches, forming LLCs, setting up non-profits, or finding simple cease-and-desist letter templates.LegalZoom is not a law firm, but it does have a network of independent attorneys available in most states who can give you advice on the best way to get started, provide contract reviews, and otherwise help you run your business with complete transparency and up-front pricing. Check out LegalZoom.com and enter promo code TIM at checkout today for special savings and see how the fine folks there can make life easier for you and your business.***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Chapters
Financial Advisor shares his thought process on complex asset allocation and investment strategies, with a focus on counterintuitive insights, that help people make informed decisions about their finances.
00:00 - 09:22 (09:22)
Summary
Financial Advisor shares his thought process on complex asset allocation and investment strategies, with a focus on counterintuitive insights, that help people make informed decisions about their finances.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
The debate continues over whether gold is a reliable hedge against inflation and economic collapse, or simply an outdated and non-functional investment.
09:22 - 14:08 (04:46)
Summary
The debate continues over whether gold is a reliable hedge against inflation and economic collapse, or simply an outdated and non-functional investment. Some argue that blockchain technology will be the real game-changer for the world economy.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
In the stock market, both smart and not-so-smart people trade on the same collective wisdom, sharing the same information which eventually gets the price where it's supposed to be, and insider knowledge does not exist.
14:08 - 25:38 (11:29)
Summary
In the stock market, both smart and not-so-smart people trade on the same collective wisdom, sharing the same information which eventually gets the price where it's supposed to be, and insider knowledge does not exist. Having a process to match people's investments to their needs can lead to a better outcome as most people tend to mess things up themselves.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
When using wealth managers, the question isn't which manager to pick for trading, but rather which manager can help determine allocation of assets.
25:38 - 32:44 (07:05)
Summary
When using wealth managers, the question isn't which manager to pick for trading, but rather which manager can help determine allocation of assets. Alternative asset classes, such as private equity and real estate, are considered as potential alpha generators for clients.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
Real estate is a high-risk investment and unless an investor is diversifying their assets, everything seems to work fine until it doesn't.
32:44 - 43:03 (10:19)
Summary
Real estate is a high-risk investment and unless an investor is diversifying their assets, everything seems to work fine until it doesn't. Leverage in real estate can sometimes result in borrowing money against the portfolio to fund more purchases, which is riskier than buying stocks.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
Peter Schiff, a renowned asset manager, discusses his thoughts on the future of investing, specifically emphasizing the importance of diversification to maintain financial independence as we navigate changing economic landscapes.
43:03 - 56:53 (13:50)
Summary
Peter Schiff, a renowned asset manager, discusses his thoughts on the future of investing, specifically emphasizing the importance of diversification to maintain financial independence as we navigate changing economic landscapes.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
Sitting on the sidelines waiting for market pullbacks can cause investors to miss out on significant gains.
56:53 - 1:01:42 (04:48)
Summary
Sitting on the sidelines waiting for market pullbacks can cause investors to miss out on significant gains. The risk of being out of the market is greater than the risk of being in it, as timing the market is difficult and unpredictable.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
The key to successful investing is not only diversifying within the same asset class but also across different asset classes such as U.S. and international bonds, art, life settlements, and music royalties.
1:01:42 - 1:08:28 (06:46)
Summary
The key to successful investing is not only diversifying within the same asset class but also across different asset classes such as U.S. and international bonds, art, life settlements, and music royalties. Diversification reduces company and industry risk and helps investors weather market volatility.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
Alternative investments, such as private equity, private lending, and private real estate, have different economics and incentives compared to traditional investing, and can offer potentially higher returns.
1:08:30 - 1:16:25 (07:54)
Summary
Alternative investments, such as private equity, private lending, and private real estate, have different economics and incentives compared to traditional investing, and can offer potentially higher returns. However, custody of the investment is given to someone else.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
Tom Schumacher shares his experience of investing thousands of dollars in setting up a music store during his college days, along with insights on how the ultra-affluent spend their money.
1:16:25 - 1:22:31 (06:05)
Summary
Tom Schumacher shares his experience of investing thousands of dollars in setting up a music store during his college days, along with insights on how the ultra-affluent spend their money.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
The challenge of inheriting wealth is taking into account how the recipient will use it given the various forces at play such as their family, spouse and the possibility of their money outlasting their lifestyle.
1:22:31 - 1:29:17 (06:46)
Summary
The challenge of inheriting wealth is taking into account how the recipient will use it given the various forces at play such as their family, spouse and the possibility of their money outlasting their lifestyle.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
In order to get the best investment vehicles, one needs to avoid financial advisors who own their own products and are paid on investments.
1:29:17 - 1:38:50 (09:33)
Summary
In order to get the best investment vehicles, one needs to avoid financial advisors who own their own products and are paid on investments. It is important that the financial advisor acts in their client's best interests all the time and is obligated to do so legally.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
Create a clear investment strategy to avoid anxiety and impulsive trading in your portfolio.
1:38:50 - 1:43:43 (04:52)
Summary
Create a clear investment strategy to avoid anxiety and impulsive trading in your portfolio. Having a clear vision will allow you to stay disciplined and stick to your priorities even when faced with unexpected events.
Episode#356: Peter Mallouk — Exploring the Worlds of Investing, Assets, and Quality of Life
PodcastThe Tim Ferriss Show
LegalZoom offers legal services to assist with any legal challenge that takes away from running a business, such as managing tax laws, reviewing contracts, creating NDAs, and handling lease agreements.
1:43:43 - 1:50:04 (06:20)
Summary
LegalZoom offers legal services to assist with any legal challenge that takes away from running a business, such as managing tax laws, reviewing contracts, creating NDAs, and handling lease agreements. They also provide graphic design projects and current offers at 99designs.com and LegalZoom.com with a promo code TIM.