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PFB Spotlight: LAMoneyGuy

Posted By Jim On 05/05/2006 @ 1:46 pm In Personal Finance | 8 Comments

It’s been over a month since the last personal finance blogger spotlight but it’s back with a vengeance with a nice chat with LAMoneyGuy [3]. While he’s only started his blog within the last four months, LAMoneyGuy has been one of the most active of the new personal finance bloggers and it’s been great to have him around. He’s always eager to start a conversation so if you comment on his blog, return sometime later because he will likely have responded, something you don’t see as much as you probably should when it comes to some blogs.

jim: Could you tell us a little about yourself?
LA MoneyGuy: I’m recently engaged, 32 year old and work in the wealth management field. I am studying to become a Certified Financial Planning certificant. My fiancĂ©e and I enjoy traveling, cooking, house hunting, and planning our wedding and lives together. I grew up in Torrance, California, a suburb of Los Angeles. My father was a very hard working, blue collar business owner, and my Mom was a stay at home mom. We weren’t poor, but we learned to enjoy playing sports, making friends and being part of the community more than having stuff. I hope to provide my eventual kids the type of upbringing that I enjoyed.

jim: When and why did you start a blog?
LA MoneyGuy: Most of my clients are somewhere between wealthy and very wealthy. I realized a while ago that my passion was in helping people with their finances when they truly needed help. The wealthy also need help, as managing seven figure portfolios, planning their estate, etc. is no task to be taken lightly. But I never felt that the work is as life changing as working with people who are on the fence between making it and not.
jim: Is there anything that makes your perspective unique?
LA MoneyGuy: I believe my experience in the money management industry gives me an “insider’s” view of the markets, and financial services. I have been part of the conversations that you are not supposed to hear. Guys boasting about how much commission they made from that last client. I have also talked with a lot of people about their money. You begin to hear common mistakes, complaints, and troubles.
jim: What’s your favorite personal finance book and why?
LA MoneyGuy: The Millionaire Next Door [4] is a popular one among PF bloggers, but there’s a reason for it. It’s a life changing book. Why Smart People Make Big Money Mistakes [5] by Gary Belsky is the most interesting and readable book on the topic of Behavioral Economics. This spoke to what I felt as I studied economics in college. Traditional economics begins from the assumption that people act rationally and in a manner to maximize personal utility. I had difficulty believing that to be the case. People are emotional more than rational.
jim: Which of your posts do you think all your readers shouldn’t miss?
LA MoneyGuy: What if We Weren’t So Private About Our Personal Financial Lives? [6], I Bought an Engagement Ring! [7], Why is it so Dang Hard to Sell Stocks? [8], and Psychology behind Income Tax Refunds [9].
jim: What financial “mistake” bothers you the most?
LA MoneyGuy: Buying whole life or variable life as an investment. It’s insurance. Very expensive insurance. A close second is running up big student loan debt without any thought about it. As far as debt goes, it’s good debt, but it’s still debt, and too many students take out the loans when other options may be available.
jim: What was your best financial decision to date?
LA MoneyGuy: Asking my Fiancee out on our first date. And no, it was not a financial decision. And no, she is not rich, or expecting a big inheritance. She centered my life. I was being a little bit crazy with money and my LAMoneyGuye. I was spending too much on things that were too unimportant. Dating her brought more clarity to the way I was behaving and helped me to see what was truly important. Us. Our future. Funny how much easier it is to reign in the spending when you start wading through the emotional crap and start seeing the big picture.
jim: What is your favorite personal finance blog and why?
LA MoneyGuy: Yikes, loaded question. Well, obviously, a Blueprint to personal finance. My Money Forest started about the same LAMoneyGuy that I did, and he’s done a wonderful job. Financial Freedumb [10] and I seem, in many ways, to be cut from the same cloth. Amanda of Young and Broke [11] is very honest in her writing. Jeez, there’s so many more great ones. I’d also like to thank the Academy, and my agent…
jim: If your blog ended today, how would you like people to remember it?
LA MoneyGuy: I would like people to say that my blog made them think. Sure, I hope readers learn something, but we can learn from books and class. If I can make people stop and think about some of the things in their life that have gone auto-pilot, I would be proud.

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URLs in this post:

[1] Tweet: http://twitter.com/share

[2] Email: mailto:?subject=http://www.bargaineering.com/articles/pfb-spotlight-lamoneyguy.html

[3] LAMoneyGuy: http://www.itsjustmoney.blogs.com/

[4] The Millionaire Next Door: http://www.amazon.com/exec/obidos/ASIN/0671015206/ref=nosim/easeoftravel-20

[5] Why Smart People Make Big Money Mistakes: http://www.amazon.com/exec/obidos/ASIN/0684859386/ref=nosim/easeoftravel-20

[6] What if We Weren’t So Private About Our Personal Financial Lives?: http://itsjustmoney.blogs.com/its_just_money/2006/03/what_if_we_were.html

[7] I Bought an Engagement Ring!: http://itsjustmoney.blogs.com/its_just_money/2006/02/i_bought_an_eng.html

[8] Why is it so Dang Hard to Sell Stocks?: http://itsjustmoney.blogs.com/its_just_money/2006/02/why_is_it_so_da.html

[9] Psychology behind Income Tax Refunds: http://itsjustmoney.blogs.com/its_just_money/2006/03/psychology_behi.html

[10] Financial Freedumb: http://financialfreedumb.blogspot.com/

[11] Young and Broke: http://cakesandale.typepad.com/

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