Are you earning more but still feeling like you don't have any extra income in your bank account each month? We often assume that a bigger pay check guarantees financial security, but without the right strategy, lifestyle inflation, tax inefficiencies, and poor financial planning can quietly erode wealth.This week, I'm joined by Lawrence Bearman, a financial advisor specialising in helping high-income Millennials keep more of their hard earned cash. We discuss how to manage wealth, optimise tax efficiency, and avoid the common money pitfalls high earners face.Expect to learn:02:03 Lifestyle Inflation: The Hidden Trap03:15 Understanding Expenditure04:42 The DIY Investor Dilemma06:14 The Value of Financial Advice13:29 Common Financial Challenges for High Earners15:51 Tax Efficiency Strategies18:57 Property Investment vs. Renting23:05 The Emotional Side of Financial Planning30:16 Finding Financial Balance31:35 Avoiding Lifestyle Creep33:39 End of Tax Year Planning34:44 Understanding Pensions39:41 Lawrence's Best Investment45:26 Social Media for Financial Advice49:59 The Role of AI in Financial Planning55:04 Summary of Financial TipsDiscover LawrenceLinkedIn - https://uk.linkedin.com/in/lawrence-bearmanGet In TouchLinkedIn - www.linkedin.com/in/jay-lawrence-5a4b3357/Website - ambitiousmindspodcast.comInstagram - www.instagram.com/ambitiousmindspodcastNOTE: The information provided in this podcast is for educational and informational purposes only and should not be considered financial, investment, or tax advice. Any opinions expressed are those of the guest and host and do not constitute recommendations for specific financial decisions.You should always consult a qualified financial advisor before making any investment, tax, or financial planning decisions. Investments can rise and fall in value, and past performance is not indicative of future results. Hosted on Acast. See acast.com/privacy for more information.

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