Are Americans Getting Poorer?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.2K Ratings

🗓️ 12 November 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Prices are rising, and it seems like Americans everywhere are having trouble buying a house, taking on too much debt, and aren't saving enough. Are Americans getting poorer? In this episode, we'll discuss how Americans are doing financially and what you can do about it, including how to tackle inflation, owning your life instead of renting, and how to invest like a Financial Mutant. Check out our website for more information. Subscribe on YouTube! Download FREE Financial Resources from the show Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Are Americans getting poor?
0:03.0	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:09.9	investing, taxing.
0:12.0	You've got financial questions, he's got financial answers.
0:15.6	It's Brian Preston, the money guy.
0:18.3	Yeah, Brian, I'm excited to have this conversation today because I think a lot of folks are seeing
0:23.9	a number of things going on out there macroeconomically.
0:27.6	It looks like perhaps the deck is being stacked against wealth creation.
0:32.6	If that's the case, that means the general well-being and wealth of the average American
0:37.6	might be declining.
0:39.1	Yeah, we've talked about it earlier.
0:41.2	It feels like the topic everywhere right now is inflation.
0:46.6	Let's face it, it's been a long time since this has been a concern.
0:50.4	Probably late 70s, early 80s is the last time in my lifetime.
0:54.2	I can remember this, I would consider hyperinflation where things are just running away with
0:59.2	going up and cost.
1:01.7	Here's what I want to do today.
1:02.9	Is I'd like us to cover the main areas we see impacted, but then better than that, how
1:09.4	do you actually navigate this yourself so you make sure it's not pulling you down?
1:13.6	Yeah, what would a financial mutant do given each of these circumstances?
1:17.3	And so obviously you mentioned inflation, Brian.
1:19.6	If we just go look at the investipedia definition of inflation.
	...

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