Build Wealth With the 3 Bucket Strategy! (By Age) 2023 Edition
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 12 May 2023
⏱️ 47 minutes
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Transcript
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| 0:00.0 | If you've ever wanted to see what the journey to wealth looks like, check out the three buckets by age. |
| 0:13.9 | Run, I am so excited about this one because this is one that people ask us about all the time. |
| 0:19.0 | They say, guys, I understand that you talk about these three buckets. |
| 0:22.2 | You tell me that as I build four financial dependents, I want to have three distinct tax |
| 0:27.4 | buckets. I want to have my tax free, my tax deferred, my after tax, but how do I do it? |
| 0:32.7 | And when do I do it? And how do I know that I'm doing it right? And where should I focus |
| 0:37.3 | based on stage in life? We want to answer those questions for you today. |
| 0:41.3 | Yeah, and this is so important. We even built it into our net worth tool. |
| 0:44.1 | Because in addition to the power that comes from just tracking your net worth as it grows |
| 0:49.3 | year over year, it's important to know how your assets, your investible assets, are actually split |
| 0:54.6 | up because this not only impacts how you pull the money out in retirement, it impacts what your |
| 0:59.2 | current taxes are while you're in the accumulation stage. It's just great to kind of know where do you |
| 1:04.6 | fall with the three buckets? And what I like about what we're going to do today, though, is that |
| 1:08.4 | we're not only going to go through the three buckets, we're going to talk about what it looks like |
| 1:12.1 | by decades from a behavioral standpoint. And this is something that when we came up with this, |
| 1:17.8 | I was like, this is going to be brilliant because from really from 20 all the way to 40, |
| 1:23.6 | this reflected me. Yeah. We're going to talk about we did a case study on Mani the Mutin. |
| 1:29.3 | And what I think is so cool for any of you who've ever wondered, what is a person who doesn't make |
| 1:34.9 | six figures right out of the gates? How do they build wealth? How does this actually look? We're going |
| 1:39.4 | to follow a financial mutant and actually see this. And like I said, this reflects exactly the way |
| 1:44.9 | my walk towards wealth felt like from age 20 all the way up to age 40. So if you're someone who's |
| 1:51.5 | not tracking this, you're not actually looking to see how your buckets are broken down. I would |
... |
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