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Money Guy Show

How to Be Young Money Millionaires! (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

🗓️ 22 January 2021

⏱️ 52 minutes

🧾️ Download transcript

Summary

Financial success doesn't have to be rare. By teaching the younger generation basic principles of compounding interest and money management, we can equip each and every one of them to become multi-millionaires by the time they retire. Our message to young savers (from small children to young adults) is this: wealth creation is surprisingly simple, but it's not easy! This episode will show you how much your money can grow when you have time on your side, and teach you how to avoid common financial mistakes that can hurt your success. Whether you're young yourself, or a friend or family member to a young person, this episode is for you! For more information, visit: https://www.moneyguy.com/2021/01/how-to-be-young-money-millionaires-by-age/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

How to be a young money millionaire

0:05.0

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

0:12.2

Investing taxes you got financial questions. He's got financial answers. It's Brian Preston the money guy

0:21.4

That might not be the best little way, but it is like warm up

0:26.3

I think I nailed it much better and we're gonna do this by age as well

0:30.2

We had a lot of practice going into that and and we are super excited

0:35.1

Because one of the things we hear from you guys over and over again is how do I get young folks either?

0:40.0

I am a young person or I influence young people or I have children or I have grandchildren

0:44.5

How do I get them excited about finances?

0:47.4

How do I get them to grab on to this exciting thing?

0:50.6

And so we thought you know what we're gonna put together some information that will be valuable for that demographic

0:55.9

Well, I was this is about a month ago a month and a half ago

0:58.6

I was at dinner with another couple and they said look

1:02.3

My teenager has come into some money. They're doing some side jobs

1:06.7

They want to start investing their older siblings telling them Bitcoin and don't read anything into this Bitcoin people

1:13.5

But I don't know that's your first investment. I'm at the first one

1:16.7

And so he was like do you have a video you can share and I went back and looked and all of our teenage videos are young

1:22.6

Investor might you know videos were pre the content

1:26.8

So I felt like we needed to kind of really get people energized

1:30.7

But also this is hopefully something you can share with loved ones

1:34.2

This is something if you're younger person use this to get motivated

1:37.5

But I think this is going to really help a lot of people know how to get the ball rolling and so what we did is

...

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