Average Debt by Age! (How Do You Compare Against Other Americans?)
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 11 August 2023
⏱️ 46 minutes
🧾️ Download transcript
Summary
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Let's talk about debt in America. |
| 0:03.0 | How do you compare? |
| 0:04.0 | Brut, I am excited to go over this show because we have a problem, right? |
| 0:13.9 | And we know that this is a problem, but I think far too many people don't recognize quite |
| 0:20.6 | how devastating debt can be if it's used inappropriately, or at least what a weight it can be on your |
| 0:27.9 | financial wealth building journey. |
| 0:29.8 | Yeah. |
| 0:30.8 | I mean, debt is chainsaw-dangerous, you know, and the fact that if you were not scared |
| 0:34.8 | whenever you signed the dotted line to put yourself on a commitment, you're encumbering |
| 0:40.6 | yourself for the future, you need to be nervous about that. |
| 0:44.2 | Yep. |
| 0:45.2 | I mean, if you're not getting buyers remorse or you're getting fearful of what are you |
| 0:49.2 | signing up for, you're definitely not respecting the damage that this can do to your financial |
| 0:54.8 | life. |
| 0:55.8 | Now, we're not proponents saying that all debts is bad. |
| 0:58.2 | You should never use that. |
| 0:59.2 | We're actually going to talk about when debt might actually be necessary, but there's |
| 1:03.3 | a right way and there's a wrong way. |
| 1:06.4 | And so you have to assess for yourself, am I using this the right way, am I using the |
| 1:10.2 | wrong way? |
| 1:11.2 | And so one of the things we're going to walk through today is, okay, what does the rest |
| 1:14.3 | of America and what specifically peers in your age range, what do their debt loads look |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

