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Money Guy Show

Financial Pitfalls to Avoid During a Pandemic! (By Age)

Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 5 June 2020

⏱️ 43 minutes

🧾️ Download transcript

Summary

Watch out for the potential financial pitfalls brought on by this global pandemic! The Money Guy Show is committed to helping you keep your finances on track at every age, in every situation. Whether you’re 20, 30, 40, or 50, there are unique financial pitfalls either created or exacerbated by COVID-19. This episode lets you learn more about them, so you can avoid trouble and spread the word! For more information, visit: https://www.moneyguy.com/2020/06/financial-pitfalls-during-pandemic-by-age/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Financial pitfalls by age during unique times like a pandemic.

0:04.7

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

0:10.9

Retirement, investing, taxing.

0:13.6

You've got financial questions.

0:15.3

He's got financial answers.

0:17.2

It's Brian Preston, the money guy.

0:20.3

Yeah, I think this is so interesting, Brian, because obviously we've done this before.

0:24.1

We've talked about financial mistakes that we can make in our 20s and our 30s and our 40s.

0:28.5

But whenever things are unique, especially like what we've recently come through with COVID and the pandemic,

0:34.4

we recognize that there are some financial mistakes that we can make unique and specific to those times

0:40.4

that we can make at other times, but they get exacerbated during these times.

0:43.2

And we ought to be aware of them.

0:44.4

Yeah, and I think it'd be helpful for anybody.

0:46.9

And we wanted to do it by age where these would be things.

0:49.5

We've covered a lot of these topics in detail, but we needed something to kind of just be

0:53.9

trigger points. We would say, hey, let this be something I need to be aware of, be careful of,

0:58.9

this is a pitfall. And then I need to go back and do a little bit more research on that,

1:03.2

because we're going to move. We've got a lot to cover here.

1:05.2

So I want to make sure that we trigger you where you need to be thinking about things and make

1:09.9

you better for it.

1:11.1

So let's jump right in and start with some of the pandemic financial pitfalls that you ought to be

1:15.3

aware of if you're in your 20s. And this first one, I feel like this is almost a public service

...

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