Money Guy Show

If you have money saved in a taxable account, do you really need a 3-6 month emergency fund? And how do you start investing for your kids?

We'll walk you through these questions and more in today's Q&A episode!

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What is the top money problem you face? Whether it's a practical financial issue or an unhealthy mindset, this episode will put you back on track. We did some research and polled our YouTube audience, now we're telling you how to solve the top 5 most common money problems.

For more information, visit: https://www.moneyguy.com/2021/08/5-best-solutions-to-the-top-5-money-problems/

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How do you know if you should leave a company to start your own business, and what should that process look like?

We'll walk you through these questions and more in today's Q&A episode!

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If you're maxing out your retirement accounts, what should you do next? And what's the best way to do a backdoor Roth IRA?

We'll walk you through these questions and more in today's Q&A episode!

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If you're able to save more than 25% of your income for retirement, should you? Or should you stop saving once you reach 25%? And how does having a pension affect your savings rate?

We'll walk you through these questions and more in today's Q&A episode!

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After a few months of anticipation, we got a package from YouTube last week - and we want to open it with you! After we unveil our first ever YouTube award, we'll do what we do best - answer your financial questions live from the chat.

Watch us unbox the award on YouTube!

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Wealth creation is surprisingly simple. You need discipline, money, and time. So why do so many Americans miss the mark when it comes to personal finance? The 10 stats in this episode are simple, real world reminders of how powerful a few small financial decisions can be. Keep these powerful stats top of mind to help you stay grounded, motivated, and on track to build wealth.

For more information, visit: https://www.moneyguy.com/2021/07/10-mind-blowing-money-stats-that-will-make-you-rich/

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It's confession time. We want you to be fully ready when you take the leap and make a big home purchase. After several months of being a new home owner, we grilled Producer Rebie on what surprised her and what she WISHED she knew before making this big purchase.

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40% of Americans are considering quitting their jobs in 2021. Why is this happening? Let's discuss how to tell when it's time to find a new job or change careers. We'll offer some practical self-assessment tools, along with tips on how to stand out from the crowd when applying to a new job. Get honest advice from two guys who have been on the other side of the hiring process a lot over the past few years!

For more information, visit: https://www.moneyguy.com/2021/07/40-percent-of-americans-are-quitting-their-jobs/

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Gamestop, AMC, and other "meme stocks" have blown up in 2021 - so what does that mean for your investing strategy?

We'll walk you through that question and more in this week's Q&A episode!

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You would think money at a young age would mean financial success. So, why do so many young, professional athletes end up in financial trouble? Turns out, they fall into the same common traps that derail the average Joe's finances everyday. Let's break down how you can avoid these mistakes!

For more information, visit: https://www.moneyguy.com/2021/07/5-reasons-pro-athletes-go-broke/

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We get this question all the time - "How do I start saving and investing money for my kids?" So what accounts should you set up for your children, and how do you get started?

We'll walk you through these questions and more in this week's Q&A episode!

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This isn't your average FIRE (Financially Independent/Retire Early) show. If you want to know exactly what it takes to be financially independent and retire early, this is your deep dive. We do the math on how much you need to save or already have saved at your age in order to retire early successfully. We always shoot straight with you, sharing both the encouragement and reality check you need to hear.

For more information, visit: https://www.moneyguy.com/2021/06/how-to-retire-early-by-age-what-fire-gets-wrong/

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If you're trying to buy a used car right now, you might be having a tough time. Why have prices gone up so much, and how should you best navigate it as a financial mutant? We'll talk through all of this, then answer your questions live from the chat.

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Let's break down the pros and cons of the tool we love to hate: the credit card.Is there any advantage to using one? How many millionaires regularly pay with credit cards? Is there a SAFE way to use credit? We're answering all of this, plus sharing our personal experience with credit card usage. Whether you're a credit-card-aholic or a financial mutant, this episode will help you assess and maximize your current relationship with debt, spending, and credit.

For more information, visit: https://www.moneyguy.com/2021/06/how-millionaires-use-credit-cards-in-2021/

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We hear about term and whole life insurance all the time - so do you need it? And should you have a 3 or 6 month emergency fund?

We'll walk you through these questions and more in this week's Q&A episode!

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The housing market is insane these days - so should you reduce your retirement savings to help pay for a house? And what's the best way to pay for grad school?

We'll walk you through these questions and more in this week's Q&A episode!

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Do you need to be rich to have access to the best investments? Turns out, a lot of people would answer "yes" to this question. But there's something about actively managed investments that many people don't know... and it might change their minds. Producer Rebie joins the show as we break down the details, give you some good news about your wealth building potential, then answer your questions live from the chat!

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If you find yourself with too much debt, you’re not alone. America has a debt problem. The accumulation of high-interest debt is one of the quickest ways to derail your financial life, so it’s no surprise that strategies and philosophies on debt re-payment are a popular topic among financial commentators. With so many people telling you what to do with your debt, how do you know which approach is the best? In this episode, we break down two of the most popular approaches to debt re-payment (the Debt Snowball and the Debt Avalanche,) then do the math to help you understand which one will maximize your money and get your finances back on track!

For more information, visit: https://www.moneyguy.com/2021/06/debt-snowball-vs-debt-avalanche-best-way-to-pay-off-debt/

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Inflation is on the rise, but the higher prices may be hard to catch. Here's how to tell if you're being ripped off! Then we'll answer your financial questions live from the chat!

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This is a peak behind the curtain on how millionaires get on the path to financial success and stay there. We're sharing everything we've learned through our own experience - the good and the bad, the successes and the failures. We are your case studies! Here are nine "secrets" to financial success that we believe have made all the difference in our own lives and the lives of our wealth management clients. Take these and make them your own to set yourself up for long-term success!

For more information, visit: https://www.moneyguy.com/2021/06/millionaires-share-secrets-to-financial-success/

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Where should you invest in your Roth IRA? And where does saving for a down payment on a house fall in the Financial Order of Operations?

We'll walk you through these questions and more in this week's Q&A episode!

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Have you ever stumbled upon some life-changing information and thought, "If only I had known about this sooner!" or "What have I been doing my whole life?" For young Brian Preston, that was discovering the joys of buying the nicer laundry detergent.

In this episode, we walk through the life-changing financial advice you need to know! We hope you have a "if only I had known" moment today, so you don't have to experience it later. Put these financial truths and hacks to work and watch your financial life change for the better!

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Is the IRS targeting crypto?? With the announcement of 87,000 new employees and an emphasis on tax evasion, the IRS is certainly giving us something intriguing to keep an eye on.  After we talk through this announcement from the IRS, we'll be answering your financial questions live from the chat. See you there!

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We feel like the masked magician - revealing all the secrets about the financial advisor industry!

Whether it's learning how to spot conflicts of interest to catching major red flags, we're going to reveal exactly how the wealth management world operates. We'll share our own code of ethics, conflicts of interest, and fee structure, along with advice on how to vet your own financial advisor. 

For more information, visit: https://www.moneyguy.com/2021/05/dirty-secrets-of-financial-advisors-exposed/

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Why do you need a financial advisor if index investing beats managed investing after fees? And does a financial planner help you buy or sell a house in this crazy market environment?

We'll walk you through these questions and more in this week's Q&A episode!

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The real estate market is white hot. Prices are up, interest rates are low, and people are clamoring to get their foot in the real estate door in many cities. Whether buying, selling, or renting, it can be hard to decide which option is best for you and how to do it right. This episode walks you through the financial factors you need to consider when making housing decisions at every age!

For more information, visit: https://www.moneyguy.com/2021/05/how-to-buy-and-sell-in-a-housing-bubble-by-age/(opens in a new tab)

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Taxes! Let's cut through the noise of this hot button issue. We'll talk through an overview of what the new policy proposals mean, and what to expect in your financial life.

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Anyone can build wealth. It's not always easy, but that simple belief motivates us to teach smart financial strategy to everyone who will listen. We love revealing how the power of compounding interest can turn you into a millionaire, as illustrated in our Wealth Multiplier.

But what about inflation? What about people in high cost of living areas? What about the uncertainty of social security? Without fail, we have naysayers bringing up these questions and more, saying that $1,000,000 does not count as financial success.

Let's take an honest look at the naysayers' perspective - what should we consider and where do they go wrong? Ultimately, we'll make sure these fears don't knock you off track from achieving your financial potential!

For more information, visit: https://www.moneyguy.com/2021/05/is-1000000-enough-to-win-financially/(opens in a new tab)

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What are some of the things you should think about when you're selecting when you want to retire? And should you prioritize a Roth IRA or an HSA first?

We'll walk you through these questions and more in this week's Q&A episode!

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It's shocking that 35% of American employees are leaving free money on the table by not getting their employer match. 401(k) accounts tend to hold the largest amount of assets in the average portfolio. In fact, 80% of millionaires invested in their 401(k) match and many credit this account as being a huge catalyst to reaching their first $1 million.

How does your 401(k) balance compare to the average American? This episode helps you discover not only how powerful this wealth building tool can be, but gives benchmarks for where most people are and where you should be in your 20s, 30s, 40s, 50s, and beyond!

For more information, visit: https://www.moneyguy.com/2021/04/average-401k-balance-by-age/

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We were recently sent an article called, "It’s Not What You Earn, But What Your Parents Have that Truly Counts." So... if your parents weren't rich, should you stop expecting to have wealth? Is there data to support this claim? Join us in this episode to hear our (very strong) opinions on this article, then we'll answer your questions!

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It's difficult to ignore market volatility. News about its rise and fall gets plastered on every news and media outlet. Many will even tell you what you should feel about it and how that emotion should affect your financial decisions.

So, what's really going on with the stock market right now? Does the recent volatility and current all-time high mean we should be worried? How can we protect our finances and stay secure in the event of downturn? This episode unpacks all of these questions and more.

For more information, visit: https://www.moneyguy.com/2021/04/stock-market-is-at-an-all-time-high-should-you-be-worried/(opens in a new tab)

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Should you go after your dream job when you're younger, or wait until you have a stable income and then chase that dream job? And when should you prioritize paying off your mortgage?

We'll walk you through these questions and more in this week's Q&A episode!

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• How to protect yourself from getting trapped in too much debt
• How to avoid the biggest debt pitfalls at every age
• Healthy ways to approach big sources of debt like mortgages, auto loans, and student loans
• How you measure up to your peers

For more information, visit: https://www.moneyguy.com/2021/04/average-debt-by-age-2021/

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Where did you first learn how to invest? Who explained the power of compounding interest and the discipline of living on less than you make?  In today's episode, we're breaking down a recent survey revealing where the majority of investors get their investment advice. We'll share our thoughts on these sources and explore how to tell if a source is trustworthy!

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Understanding history can keep you protected as you move into your future.

After years of working in the financial space, we see trends in the investment world. With a desire to build wealth fast and a fear of being left behind, we've watched the public jump on the latest investment trends, often leading to severe disappointment. When one financial frenzy or "hot dot" investment fades into the past, a new trend never fails to replace it.

What causes these financial frenzies, what can we learn from them, and what might that "hot dot" investment be today? Let's learn to recognize these bubbles, both past and present. Your wallet will thank you.

For more information, visit: https://www.moneyguy.com/2021/04/worlds-strangest-investments-you-need-to-avoid/(opens in a new tab)

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When should you start working with an advisor? And how much should you be investing when you're saving for a house?

We'll walk you through these questions and more in this week's Q&A episode!

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Here's exactly what a millionaire looks like. The 2021 Money Guy Survey has officially wrapped and we're sharing the results in this episode. We surveyed our Abound Wealth clients who have reached millionaire status (and beyond) to help you better understand who they are, what steps they took to reach their first $1 million, and the common mentality that drove each one of them to financial success.

For more information, visit: https://www.moneyguy.com/2021/04/shocking-millionaire-secrets-revealed/(opens in a new tab)

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Poor... not exactly the outcome most folks are going for! But are you doing any of these five things that keep you from building wealth? We get that living for the moment is fun, but what if you didn't have to trade your financial security for it? Join us for this week's show where we name the five ways you're keeping yourself poor and how you can build lasting wealth instead.

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This episode will help you transform your finances using real life advice from a billionaire! Each year, Warren Buffett writes an annual letter to shareholders, reflecting on the past year and commentating on his journey to financial abundance. Once again, 90-year-old Warren drops BOMBS, and he does it with remarkable simplicity! We'll show you the best takeaways from the letter and how to apply each one to your personal finances.

For more information, visit: https://www.moneyguy.com/2021/03/billionaire-warren-buffetts-best-investment-advice-summarized/

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Inflation is a hot topic in the financial world right now. Our YouTube comment section attracts nay-sayers, claiming that the money we want you to invest today will not be worth as much in the future due to inflation. Let's address this! What is inflation? Why is it concerning? What action items should you take to protect yourself from it? We unpack it all in this episode. 

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Pull up a seat for this special episode of The Money Guy Show! Rebie joins Bo to share some of the biggest financial mistakes she's made in her 20s and what she learned. From buying a car to getting married and buying her first house, find out what Rebie got right and what she got wrong when it came to her finances. These are lessons everyone can learn from!

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Let's break down how The American Rescue Plan Act of 2021 will affect YOUR finances.

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Life is a collection of big decisions and trade-offs that can have a significant impact on your life. Strong goals are what keep you on the path that will get you where you want to go. Goals function as our "why." They are a grounding force, helping us make big and small decisions. We've experienced this in our own lives. Now we're sharing our secrets with you! Accomplished goals are the secret to a fulfilled life. Let's teach you how to make your dreams a reality and set goals like a pro!

For more information, visit: https://www.moneyguy.com/2021/03/make-your-financial-dreams-a-reality-setting-goals/(opens in a new tab)

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Even people with a lot of money are in danger of going broke. There's a big difference between being "rich" and "wealthy." Is your cashflow high, but your net worth statement low? Do you own your life, or are you do you find yourself, like the man in one of our favorite commercials, "in debt up to your eyeballs"?

This episode will show you the fascinating statistics behind the broke high-income earners across America. Plus, you'll walk away knowing how to protect yourself from the same fate as you reach financial success.

For more information, visit: https://www.moneyguy.com/2021/03/why-high-paid-americans-are-actually-broke/

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A paper found that young adults don't need to start saving for retirement until age 40. The study is based on "total life satisfaction" rather than savings. But, hang on. Let's take a closer look at this and see what actually happens if you wait until 40 to start saving. Who do you think would be more miserable? The person who starts saving before age 40 or the person who doesn't...? We'll break it down by the numbers and see what we can see.

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If you interact with any other human beings, you are involved in negotiations! At its heart, the art of negotiation is an interpersonal skill that can not only help you save money, but can make you a better friend, co-worker, partner, or boss. Too often we think one person wins and the other loses when negotiating. That is not the case! It is all about setting aside your own desires long enough to learn about another person. This episode will show you our top five tips to transform your personal and professional interactions for the better.

For more information, visit: https://www.moneyguy.com/2021/02/top-5-negotiating-strategies-to-save-you-money/(opens in a new tab)

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Tax evasion is illegal, however, tax avoidance is highly encouraged. Roth accounts provide an outstanding opportunity for tax advantaged retirement savings and wealth building. This powerful investment vehicle was created to encourage everyone to save for retirement and see the beauty of investing in their financial future.

This episode will teach you exactly how to take advantage of this opportunity in your own financial life.

For more information, visit: https://www.moneyguy.com/2021/02/legally-hide-money-from-the-government-forever-roth-secrets-revealed/(opens in a new tab)

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No one wants to be fooled. Unfortunately, there are many popular financial products that seem like a good idea, but can actually derail your financial plans and cause you to miss out on true wealth building opportunities. Truly wealthy, secure people know how to tell which financial investments are worth it and which are too good to be true. In this episode, we'll teach you how to tell the difference and think like a millionaire!

For more information, visit: https://www.moneyguy.com/2021/02/5-things-millionaires-dont-invest-in/

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