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Money Guy Show

Do Millionaires Have 7 Sources of Income?!

Money Guy Show

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

Investing, Education, Business

4.73.1K Ratings

🗓️ 26 June 2023

⏱️ 31 minutes

🧾️ Download transcript

Summary

How many different streams of income does the average person have, and how many should you have? We'll walk you through that question and more in today's Q&A episode! 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

Click on a timestamp to play from that location

0:00.0

Next up we have a question from Caleb.

0:09.7

He says, how do you overcome the fear of making sure you are providing enough for your children's

0:15.2

future while saving for your own?

0:18.4

For context, I am an expectant father, so congrats first of all.

0:22.4

That's exciting.

0:23.4

So is it a legit fear to ensure that I am setting her up for the future while also providing

0:29.0

for my wife's and I?

0:30.0

It's such a hard balance to strike.

0:32.2

So potential new dad, he's like, oh man, what am I going to do now?

0:37.2

Congratulations.

0:38.2

It's awesome.

0:39.2

Having kids rocks.

0:40.2

It's a super fun thing.

0:41.6

It's a fun journey you're about to be on.

0:45.0

It's hard, right?

0:46.0

Because there's a natural struggle that when you hold that baby for the first time, I think

0:50.9

it's Ryan Realty.

0:51.9

He's like, I would jump in front of a bullet for this kid, right?

0:54.8

I just met him like today and they're amazing.

0:57.7

And so we want to do everything as parents in our power to provide for them and to create

1:03.7

a life that is better for them than our life was for us and all of these things.

1:10.0

But what that naturally causes us to do is it naturally causes us to act in a very irrational

...

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