Financial Advisors React to Massive Money Mistakes

Money Guy Show

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

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 18 May 2026

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Why go small when you can go massive? Financial Advisors, Brian Preston and Bo Hanson, react to the internet's biggest money mistakes, from Steve-O getting someone approved on a 120-month Dodge Charger to a man who cashed out his 401(k) to buy a boat in the Virgin Islands (and somehow met his wife doing it). We break down the solar panel loan trap, the job-hopping debate, and why personal finance is so personal that a 30-second clip telling you what you must do may be the biggest mistake of all. 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	Changes in sexual performance are more common than most people realize, and support doesn't
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0:18.9	You're not alone in this.
0:20.4	Visit Medexpress.co.ukote.combe. To learn more. Why go small when you can go massive? That's what we're covered today. Massive money mistakes. I am so excited to see what the content team has in store for us today. Doing all our folks. You got me rolling. And Ashley got me rolling. And Ashley got me rolling. And today we got my dog.
0:38.3	TK. You got it. I'm approved on this Dodge Charger. 120 months. That's 10 years. Great experience. I highly recommend you. They got me on 300 buckly payments. For only 10 years. he's going to pay it off and then be able to put an antique tag on the back. Yeah, buddy. That's, oh, I... If it's still rolling, like, unlike Steve-o. We believe that there's a better way to buy cars. We want you to do 23. I want you to put 20% down. We don't want you to finance for any more than three years or 36
1:11.7	months. By the way, 120 months is more than 36 months. And we did not want your total monthly payment
1:17.1	to exceed 8% of your gross income. If you can do that, you can prevent your car from
1:22.5	becoming financial napal in your financial. I'm surprised, Steve-o hasn't figured out how he can
1:27.2	slap a tent in the trunk and then give
1:29.6	them the mortgage interest deduction for how long he's financing these cars.
1:33.3	I don't know that I want Steveau to get me rolling.
1:36.0	People willingly go in to get slaughtered financially.
1:39.6	The company is very successful.
1:40.9	Manning the seven figures.
1:42.0	They have no coaches, no mentor, none of that.
1:43.6	What I did was I was borrowing from my property to invest into my clothing company. I didn't know about credit and know about funding. I didn't even know that I could borrow from my own property to invest. So I was using my own cash. So when we started to have issues where it were cash flow, I wasn't paying my mortgage. So then my house got foreclosed on. And it was a house that I grew up in.
2:04.6	It was a house that foreclosed on.
2:02.6	And it was a house that I grew up in.
	...

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