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Money Guy Show

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

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

4.62.8K Ratings

🗓️ 5 April 2024

⏱️ 48 minutes

🧾️ Download transcript

Summary

Throughout every decade, there are different areas of your financial life that come in and out of focus. In this episode, we'll discuss what you need to focus on by age, pitfalls to watch out for, and how to know you're doing it right.

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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.

Transcript

Click on a timestamp to play from that location

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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