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Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 12 May 2023

⏱️ 47 minutes

🧾️ Download transcript

Summary

We believe there are three distinct taxable buckets you have the option of investing in for retirement. We’ll talk about how to balance those buckets by age and show a case study by age that shows what your buckets may look like! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

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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