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Money Guy Show

Financial Advisors React to Money Advice with Humphrey Yang

Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 17 November 2025

⏱️ 26 minutes

🧾️ Download transcript

Summary

Viral clips make big promises...so we brought Humphrey Yang to test them. We unpack the “drop to the 12% bracket” myth, rent vs buy math, why being frugal scales (even for LeBron), the ETF overlap trap, and the market timing that works. Practical steps, zero fluff. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠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. ⁠⁠⁠⁠DRINKAG1.com/MONEYGUY Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Why are businesses like HelloVet choosing Apple products and services?

0:05.6

So we started the business two years ago.

0:08.0

We had a few people who were used to PCs and this was their first foray into Macs.

0:13.3

But it's been super smooth getting everyone onto those devices and everyone seems really, really happy.

0:18.8

Find out how Mac can help you run and grow your business at apple.com forward slash

0:24.4

HelloVet.

0:26.7

The content team's been busy putting together new React, but does it matter what it is?

0:31.9

Because we got Humphrey Young.

0:35.0

I am so excited about this. Humphrey, we are stoked that you're here. We're stoked that we get to do some React content with you. Are you ready? I'm stoked, as they say here in Tennessee. I love it. All right. Let's dive right in. And anywhere else. I guess they say stoked everywhere. Let's say I make a million dollars a year. My goal is to get rid of 930,000 of it. What? Why? So that I could be in a 12% tax bracket because I understand that it's a net worth game, not how much money you make. I don't want to be in the top tax bracket. I want to make a little bit over $70,000 a year on paper, right? So my goal is this. My goal is to increase my net worth and reduce

1:12.6

the amount of money that I have to pay in taxes. This is a life lesson for y'all, all right? They're not teaching y'all this in school. All of you NFL players, all of you rappers is out here throwing a money phone, but you don't know shit about money. Let me break it down for you, big dog. You make a million a year. Your goal is to get rid of $930,000 of it. How do you do that? You then invest in things.

1:30.4

The government incentivizes business owners, real estate holders, et cetera, to invest in themselves. Well, why would I do that? Because what it does is it reduces the amount of money I have paying taxes because I can write that off as a business expense. The cars that I need to use, the flights that I have to take in order to be able to help my business, to do research, to go and look at prospects, opportunity. Humphrey? Thoughts. Immediate thought was like at first, I was like, oh, man, this is kind of crazy. We're going to talk about, you know, marginal tax bracket or, you know, progressive tax rates here and how you shouldn't make more than $70,000 to lower your tax burden.

2:02.2

But then he got into the more of the write-offs and the business deductions, and I kind of like that part. He was close. He was nibbling around the edges. He did a shock and all. Great content creation, because he actually went with a huge headline of you, if you make a million bucks, you got to get rid of $930,000. He threw out the little bit that you only want to pay taxes at that lower. That was a throwaway.

2:21.5

Oh, of you if you make a million bucks you got rid of nine hundred thirty thousand dollars he threw

2:17.7

out the little bit that you only want to pay taxes at that lower that that that was a throwaway

2:21.4

owning stuff is where it's at unfortunately for people who don't come from money and you see

2:26.7

people just building up cash and other things they never get ahead because you have to create money

2:32.1

that works harder than you can and ultimately that's what he was, investing the money, trying to get rid of if you make a million dollars, figure out how you minimize the taxes, but then get as much of that money working for you in the background by owning stuff that can work so you don't have to work. But I want to be clear, I feel like he oversimplified it in a touch. If you are, if you are someone who makes a million dollars and you want to get rid of $930,000 of that

2:54.5

and you go buy an asset for $930,000, that means that you now only have $70,000 to live off

3:00.3

of because you have sent that money somewhere else. So it doesn't quite work out exactly the way

3:04.6

he described. But conceptually, theoretically, that is something that you can do with your dollars to reduce your taxable income so long as you're doing it in the right way. Yeah, I kind of read it as like, you can't take it too literally. Like maybe that's what he is like meaning behind the content was. But if you did take it literally, it is a bad idea. It's not going to work.

3:24.4

It's not going to work.

3:25.2

It's hard to do things repeated over and over.

...

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