How Much Is Your Lifestyle Really Costing You?! (Shocking Stats)
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 10 July 2020
⏱️ 38 minutes
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Summary
Transcript
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| 0:00.0 | How much is your life really costing you shocking stats on today's show? |
| 0:06.0 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, investing, taxing. |
| 0:15.0 | You've got financial questions, he's got financial answers. It's Brian Preston, the money guy. |
| 0:22.0 | Yeah, Brian, this one I'm really excited about, because you said a little bit, you said this a little bit in pre-show prep, right? |
| 0:27.0 | Everything that we're going to cover today, we've covered previously in different shows or different topics. |
| 0:32.0 | But we've never actually put it all together to see what the real tangible impact is of the decisions that we make that seemingly are just decisions for today, but really are decisions far out into the future. |
| 0:45.0 | Well, I think this got me so excited because here's what we do to get you motivated, because I've often shared my high school story of the Jim, |
| 0:54.0 | I mean of my economics teacher who's also the wrestling coach, who told me $100 a month would turn me into a millionaire. |
| 1:01.0 | So we all the time cover the motivational aspect of the opportunity of putting your army of dollar bills to work. |
| 1:08.0 | And I think it's worth repeating just in case this is your first show, this is the first time you've ever been to see a money guy experience. |
| 1:16.0 | This is something we talk about a lot with the power of your army of dollar bills is that $1 has the opportunity for a 20 year old to become $88. |
| 1:25.0 | That's exactly right. If you haven't had a chance to go out to our website, you can go to moneyguide.com slash resource page. |
| 1:30.0 | We have right here on the screen, this shows what does $1 turn into for a 20 year old or a 25 year old or a 30 year old, but maybe you're 33 or you're 26 or you're 42 and you want to know exactly what $1 will turn into you. |
| 1:43.0 | Go out to the money guy.com slash resource page. We have this deliverable that you can download for free and see exactly how powerful every dollar you put to work right now at your current age can be. |
| 1:54.0 | But in these things are related, but it's a it's a different side of the discussion is because that's the opportunity of what every dollar can become at retirement. |
| 2:02.0 | So that way you'll think differently about how you're looking at your money. |
| 2:06.0 | So that then leads to the transition point of what's the opportunity cost because here's the reality of the situation. |
| 2:13.0 | Small decisions lead to big impacts. So then if you think about what is lifestyle creep? What is keeping up with the Jones is what are all these things as we go through life? |
| 2:24.0 | How does this all impact your future self and how much you have the opportunity to build in financial independence? |
| 2:32.0 | So that's what today's shows go cover, not the opportunity, but what the opportunity cost is for all these major life decisions. |
| 2:39.0 | And we're going to kind of go through four common choices or four common decisions that most people make. |
| 2:44.0 | Most people thought the course of life are faced with one of these four decisions. And what I think is so wonderful is every one of them seems so easy when you're making the decision right now. |
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