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Money Guy Show

How to Combine Finances the RIGHT Way!

Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 6 March 2023

⏱️ 25 minutes

🧾️ Download transcript

Summary

If you're getting married soon, how should you think about combining finances the right way? We'll walk you through that question and more in today's Q&A episode! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Check out our course, Know Your Number! - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

All right.

0:08.8

Question from Don Don 365.

0:10.8

Hi, I'm 35 and I have 100K to throw into an index fund.

0:17.6

I don't want to miss the market slingshot.

0:20.4

Do I dollar cost average 10K a month or do I lump summit?

0:24.4

Also I'm on step 6 of the food.

0:26.4

Cheers.

0:27.4

What do you guys think?

0:28.8

First of all, I love Don Don that you're thinking about putting this money to work to you.

0:33.2

You got $100,000.

0:35.0

You want to do something with it and you didn't say, hey, you know what?

0:37.3

I'm going to go buy a new Corvette.

0:38.6

I'm going to go do that.

0:39.6

I love that at 35 years old, with a substantial chunk of cash, you're making a decision for

0:45.8

your future self, which is awesome.

0:49.3

So the question is, okay, I have this 100,000.

0:51.5

I want to put it in low cost index funds.

0:53.4

What's the best way to do that?

0:54.4

Love some or dollar cost average.

0:56.5

Vanguard did a wonderful study a number of years back.

1:00.0

And they said, okay, well, let's look at what's more advantageous dollar cost averaging

1:05.1

or lump sum investing when you look at the long term.

...

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