We recently connected with Lori Friedman and have shared our conversation below.
Lori, thanks for joining us, excited to have you contributing your stories and insights. What’s the best advice you ever gave to a client? How did they benefit / what was the result?
I teach people how money works and show them how they can make the most out of their money. Everyone is different and has different needs, so I customize a plan for their needs. I had a client call me and ask for help. After inquiring as to the help they needed, I discovered that they needed help getting out of debt. I have a Debt Dominator Spreadsheet that I help clients get out of debt quickly. I created a Debt Domination spreadsheet for them and instead of getting out of debt in over 30 years, (including their mortgage), they were going to be out of debt in 17 years. They were ecstatic! Also, Is showed them how to compound their money at the same time!! http://www.moneychimp.com/
Lori, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
For years I struggled losing money in my investments even though I had a financial planner. Then I discovered a company that would TEACH ME how to be financially educated so I could understand what was going on the in the market and how to properly protect myself and my family from down markets. I also discovered that my financial planners were captive and had quotas, so they were not working in my best interest.
Now, not only am I financially educated, I am also protected from downside loss. In addition, I am helping other people be financially educated. I am also helping them get protected from losing money in their investments and giving them a solid financial foundation on which to stand! I don’t want anyone to have to go through what I went through for not knowing how money works. I will take the bullet, so many American’s can learn this information and not get screwed over like me.
Are there any books, videos or other content that you feel have meaningfully impacted your thinking?
In regards to books, anything from John Maxwell. His leadership teaching are amazing!
In regards to video or podcasts, Ed Mylett. Ed’s teaching are incredible. He interviews people from all walks of life and you get to hear views that you might not get anywhere else.
We often hear about learning lessons – but just as important is unlearning lessons. Have you ever had to unlearn a lesson?
I had to unlearn to trust my financial planner. He did not have my best interest in mind, and I had to learn the hard way. Financial Planners, I discovered really only have 1 product and that product is securities. They want your money to manage and for them to take their 1% (and other fees built into the products). They don’t care about market loss, because they don’t do anything else. Their only advice to their clients is just wait, the market will recover. So what happens to clients that are just about to retire and the market goes down 30% or 50% like in 2000, 2001, and 2002. I believe their advice hurts people. But that is my opinion only.
Contact Info:
- Website: www.LoriFriedman.org
- Instagram: https://www.instagram.com/lorimariefriedman/
- Facebook: https://www.facebook.com/lori.friedman.77
- Linkedin: https://www.linkedin.com/in/lori-friedman-474750146/
Image Credits
Photo by Abbey Friedman