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Money Guy Show

Debt: The Darth Vader of Financial Planning Tools, Money-Guy Podcast 7-13-2006

Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 13 July 2006

⏱️ 39 minutes

🧾️ Download transcript

Summary

Credit is also a great lead in to the Power of Debt. Debt gets a bad rap by most financial professionals and there is a reason. Unfortunately most individuals do not use debt as a wealth enabler instead they use it to extend their income and life style (an expensive way of faking success). For more, go to http://www.moneyguy.com/2006/07/money-guy-07-13-2006-podcast/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

It's Brian Preston, the money guy, restoring order to your financial chaos. Retirement, investing, taxes.

0:09.0

You've got financial questions, he's got financial answers. It's Brian Preston, the money guy.

0:16.0

Welcome July 13th, 2006.

0:19.0

Last podcast I talked about, I was going to go see Superman Returns and indeed I did go see it.

0:25.0

I truly enjoyed it. I even though I was a little nervous. Heidi had scared me telling me that she heard the love story overwhelmed a lot of the action sequences.

0:34.0

But that was not the case. Sure, there were some sappy stuff in there, but overall I thought it was great.

0:40.0

But in keeping with the whole superhero and supernatural type theme, I've decided today's topic title for the financial chaos topic.

0:49.0

Because remember, this is the money-guy.com show. And our whole purpose here is to restore order to your financial chaos.

0:56.0

And today's topic is debt, the Darth Vader of financial planning tools. And what I mean by that, you know, don't worry.

1:05.0

Next time I am not going to do Star Trek, at least I don't think I don't truly sit down and think about these things.

1:11.0

But what I mean by that is, if you think about Darth Vader, he has the Jedi Force.

1:17.0

And the Jedi Force can be used for good, like you think of Luke Skywalker. And then, or for bad, if you go the way of Darth Vader and go to the dark side.

1:27.0

And that's what I think debt is as well. It can be a great enabler to build wealth or it can truly take you down a dark street.

1:34.0

So that's what we're going to talk about today. But we need to take care of a few things and talk about some of the current events of things that are going on at money-guy.com.

1:43.0

And I don't worry. Remember, we mixed up the way we do business here a few weeks ago.

1:48.0

We jump right into the financial chaos topic, but I do want to tell you a few quick things. First, great news.

1:55.0

If many of y'all have been following this show since the beginning, we started the first episode. It was on January 30th, 2006, so we have not been around too long.

2:04.0

But the time we have been here, we've had rapid, rapid growth. And I told you when I started this, my biggest goal was to reach 1,000 subscribers.

2:16.0

And guess what happened? Just this week, we reached 1,000 subscribers. That's right, everybody. So I want to give a big thank you for helping us out and reaching that goal.

2:27.0

Truly, thank you for your help on all that.

2:32.0

I was the king, you know, crowd noise that I went and downloaded. I wasn't willing to pay the $2.99 to some of the pay sites, but I was able to find the three-second applause.

2:41.0

It's some free, free sites. I hope you enjoyed that. But truthfully, I do want to thank you guys. A big thank you goes out to you guys for making our growth happen.

...

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