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Money Guy Show

How to Lose $5M in 5 Days (and How to Avoid It)

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

🗓️ 4 April 2025

⏱️ 35 minutes

🧾️ Download transcript

Summary

Through the story of twin sisters Polly and Molly, we demonstrate how 5 everyday financial decisions made in just 5 days can lead to a staggering $5 million difference in wealth over 30 years. We break down crucial choices about housing, retirement accounts, car purchases, and investment strategies that everyone faces in their financial journey. This eye-opening episode shows that building wealth isn't about getting everything perfect - it's about being intentional with your major financial decisions and understanding how small choices today can compound into life-changing results tomorrow. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

How to lose $5 million in five days. No kidding.

0:08.5

Brent, I am so excited to talk about this because sometimes what seems like a small decision,

0:14.1

what seems like maybe even an insignificant decision can have a huge impact downstream,

0:20.1

and we're going to walk through that very thing

0:23.0

in today's episode. Here's what I love about my job. We get a front row seat to see what makes

0:28.7

successful people create the wealth that they have. And I think, you know, the thing, if you

0:35.3

asked anybody successful, I know there's a lot of great

0:37.5

content asking people what they do for a living, how did you get your money? But here's the reality

0:41.7

that I have found in my own journey plus working with all these clients. You're not going to know

0:46.5

what small decision, big decision, which is actually the dollars that led to your millions.

0:52.6

It's actually going to be the culmination of a bunch of

0:55.6

different decisions. And what I've often thought, if I could just teach a young person or a

1:00.0

middle-aged person, just how to change and shift their mindset to see the opportunity of what

1:05.5

money can become and what the decision, the difference between consumption versus building is,

1:14.6

it will change the way you handle every dollar that comes in your life.

1:16.2

That's why we have the wealth multiplier.

1:18.2

That's why we talk about 88 times over.

1:23.0

And this show is going to be the perfect launch point to bring all this together.

1:30.8

So what we're going to do is we're going to walk through a case study for the entire episode, kind of showcasing two different decision makers.

1:33.6

We're just calling this a tale of two sisters.

1:36.9

And let us introduce you to our characters for today's show.

1:38.8

First, we have Polly.

...

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