Financial Planning 101 (By Age) - The Complete Guide to Financial Success
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 5 April 2024
⏱️ 48 minutes
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Summary
Transcript
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| 0:00.0 | How to build your financial foundation, financial planning 101. |
| 0:04.1 | Run I am so excited about this because a lot of people come here and maybe they're new to personal finance or maybe they've been doing it for a while |
| 0:17.9 | But they're later on in life during their 30s 40s 50s and they're trying to think through, |
| 0:22.8 | how do I know I'm doing all the things I'm supposed to be doing? |
| 0:25.4 | Like, I get the investing and I understand about that. |
| 0:27.8 | But what about the other areas of financial planning? |
| 0:29.8 | How do I know that I'm doing the things |
| 0:32.4 | I'm supposed to be doing and focusing in the areas I'm supposed to be focusing on? |
| 0:35.4 | Yeah, and it's going to be different for 20 year olds versus 50 year olds. |
| 0:38.4 | So let's just, we're like, let's run it through and give them all the different areas they need to focus on and we focus on cash flow |
| 0:46.8 | we're going to focus on risk management we're going to focus on investing we will get into |
| 0:50.4 | legacy and estate type stuff so let's jump right in we got the |
| 0:54.3 | 20s let's talk about this this is where you build the base now for most folks the |
| 0:59.6 | 20s is going to be an incredibly busy decade. You're going to spend your time becoming an expert at something. |
| 1:06.8 | You want to make sure when you're in your 20s you're coming an expert in the right things, |
| 1:11.1 | not becoming an expert in wasting time or wasting your resources. |
| 1:15.0 | This is also when I want you, you talked about kind of making sure your shovel is good |
| 1:18.9 | with good income, but also let's get your basics working for you. |
| 1:22.4 | If you can start taking a little bit of today |
| 1:25.3 | for that great big beautiful tomorrow, |
| 1:26.7 | you're gonna be shocked that a little goes so far. |
| 1:28.8 | It grows exponentially, |
... |
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