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Money Guy Show

How to Get Out of Traps Laid by Bad Investments

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

🗓️ 9 October 2015

⏱️ 45 minutes

🧾️ Download transcript

Summary

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Do you feel stuck with an individual stock you bought? Or maybe you bought into a front-loaded mutual fund a while ago, and now you’re not sure what to do with it. Perhaps you’ve got one of those variable annuities and it’s dragging your financial life down. On the show today, we’re talking about financial follies and the traps we fall into from bad investments -- and how to get out of them.

Transcript

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0:00.0

Are you one of those people that has bought an individual stock and now you kind of feel stuck?

0:05.5

Or maybe you got sold a loaded mutual fund, you paid a big commission on the front end,

0:10.8

you know like, what do I do now? Or better yet, what happened if somebody sold you a variable

0:16.1

annuity or a cash value life insurance? Or how about even the people you work with, your financial

0:21.5

advisors, your CPAs, your insurance agents? All these things are financial follies and traps that we

0:29.4

fall into. If you get hit by any of those points I talked about, this show is for you.

0:51.6

Hey guys, it's your host Brian Preston. Kind of excited about this this show today because

0:55.8

this is one of those shows where we're going to turn lemons into lemonade. And I like that because

1:01.0

I think a lot of times in, I know in my personal life, as well as my personal financial life,

1:06.3

you make decisions and you hope that you're betting a better than 50% average and getting a better

1:13.0

place in life. But every now and then you will step into something and you're trying to figure out,

1:17.8

okay now that I'm here, what's the next step? How do I navigate out of this? So that's what we're

1:23.4

going to be hitting today. I'm going to go through everything we just talked about in the intro.

1:28.8

But let me go ahead and give you some housekeeping on who we are. This is the Money Guy show.

1:32.4

Feel free to go check us out. It's moneygod.com. If you want to go check out the show notes,

1:36.8

also on the Money Guy website you can go connect with us on all of our other social media platforms,

1:41.6

whether it's Twitter, Facebook, have at it. Also sign up, give us your email address just so we

1:46.8

can say in contact with you so we can blast out whenever we have new content. I'm joined today,

1:51.8

of course, as always, I don't know why I say join just today, but joined probably forever,

1:57.3

Mr. Bo Hansen who sits across the way from me. Real as we are, feel only financial advisors by

2:03.0

day. So if you like what you hear, if you like how we're just giving it away and trying to take

2:07.0

your financial life to the next level, reach out to us because we do work with clients all across

...

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