Eyebrow-Raising Facts About How the Top 1 Percent Manages Wealth

Money Guy Show

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

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 28 January 2017

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Eyebrow-Raising Facts About How the Top 1 Percent Manages Wealth

Ever wonder what is considered the top 1 percent of income earners in the United States? Or how they wind up managing their wealth differently from those of us still building wealth? Well, we've gotten some questions from our listeners about what to do with your wealth once you cross a certain threshold and how to approach some of the "fancier" products on the market that are designed specifically for people with sizable assets. The truth behind the top 1 percent of high income earners and what they do with their wealth may surprise you.

Transcript

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0:00.0	Income-wise things are going your way. You've actually reached that status where you consider yourself high income
0:06.6	Or maybe you're out there listening you go am I high income?
0:10.1	We're going to share with you today
0:12.1	What it means to be high income from a statistical standpoint and then we're also going to help you not falling into those pitfalls of what happens once you start having
0:21.4	success and
0:23.2	Exposing the warts on those exotic investments that everybody and their brother is trying to sell you all that more
0:29.7	On today's money got show it's Brian Preston the money guy
0:34.4	Restoring order to your financial chaos retirement
0:38.2	Investing taxes you've got financial questions. He's got financial answers. It's Brian Preston the money guy
0:47.2	so about
0:49.0	last episode
0:51.2	We spent some time talking about
0:53.9	The wealth equation and some other things right there is danger
0:59.6	Doing a financial podcast because I don't know if you guys have caught on
1:03.9	When you go out to Yahoo Finance MSN money
1:08.0	Wall Street Journal wherever you go and get your financial advice from when you go down to the comments section
1:16.5	There are people who are trying to solve world problems within the comments section of typically
1:23.1	financial podcast financial
1:24.8	You know commentary and everything else where you can give thoughts and we got a lot of comments from our listeners about the wealth equation as well as the
1:33.6	Multiplow factor to figure out if you have enough money for retirement, right?
1:38.7	Before we jump into today's show on income I
1:42.6	Do want to clarify the record on something because I got hit on Twitter and then we got several emails on it when I use the equation of either
	...

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