Ep. 73 – Stress & Money – with Peter Lazaroff

Today’s guest is Peter Lazaroff, author of Making Money Simple. Now, you may be wondering why I’m talking to a financial expert on this health show – but it makes a lot of sense if you stop and answer one question: Have you ever been stressed about money?

I’m going to guess your answer is YES! Because money is the biggest cause of stress in the United States.

Bills, kids, jobs, the cost of daily living: This is the stress we tend to ignore or push down.  Left uncontrolled, this stress affects your health – your body and your immune system.

• Stress is a factor in five out of the six leading causes of death — heart disease, cancer, stroke, lower respiratory disease, and accidents. An estimated 75 percent to 90 percent of all doctor visits are for stress-related issues.
• Percent of people who regularly experience physical symptoms caused by stress: 77%
• Percent of people who regularly experience psychological symptoms caused by stress: 73%

Making Money Simple

This isn’t really a subject taught in school, much like nutrition, but it has such a huge influence on our lives and is a major stressor. So where do you start? 

The most important thing is to start now. Because everything feels overwhelming (i.e. stressful), it’s natural for us to put these things off. But the longer you do that, the more stressful things will be in the long run.

There are some simple actions that you can start taking today:

• The neural patterns in our brain view saving money the same as giving it away to someone you don’t know. So find meaningful goals and prioritize them.
• Budget in reverse: automate your savings once you know what your financial goals are.
• If investment seems overwhelming, don’t be afraid to hire a professional. They will find things that you might miss, but you will also be buying back time. 
• However, you need to make sure you’re asking an advisor the correction questions! Luckily, Peter has put together a free worksheet that will help you interview a financial advisor.

To learn more, you can pick up your own copy of Making Money Simple or use some of the incredible free resources that Peter offers at peterlazaroff.com/resources.

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Resources:

• Learn more: peterlazaroff.com
• Read: Making Money Simple
• Worksheets: peterlazaroff.com/resources
• Find a CFP: letsmakeaplan.org/choose-a-cfp-professional/find-a-cfp-professional
• Broker Check: brokercheck.finra.org
• Smart Money Quiz: smartmoneyquiz.com
• Twitter: twitter.com/PeterLazaroff
• LinkedIn: linkedin.com/in/peterlazaroff
• Bit coin: https://peterlazaroff.com/should-you-invest-in-bitcoin/
• Bright Plan: https://www.brightplan.com/peter

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Disclaimer: The activities and research discussed in these podcasts are suggestions only and are only advised to be undertaken following prior consultation with a health or medical professional. Fitness training, nutrition, and other physical pursuits should be tailored to the individual based upon an assessment of their personal needs.