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Money Guy Show

How to Win Financially Based on Your Income!

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

🗓️ 23 February 2024

⏱️ 29 minutes

🧾️ Download transcript

Summary

There’s no way around it: Americans at different levels of income face different challenges on their wealth-building journey. Some advice may only apply to those with a lower income, while other advice applies only to high-income Americans. We want to break it down by income to show how you can be financially successful no matter where you are at.

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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.

Transcript

Click on a timestamp to play from that location

0:00.0

How to win with money?

0:01.4

Buy Income.

0:02.4

Bron, I am excited to talk about this because there's no doubt about it. People at different

0:14.8

income levels face different problems, different challenges when it comes to

0:18.6

building wealth, but what we want to walk you through today is no matter

0:21.4

where you are on the income spectrum there are some

0:24.5

things you can do or at least some things that you can think about that will

0:27.8

put you on the path to building financial independence yeah we do a lot of

0:31.5

content by age and we're like you know know what, let's actually, let's look at this from a different angle.

0:36.1

Instead of by age, let's talk about it from different income levels.

0:39.9

So that way you can focus on what really is something you can control and have the biggest

0:45.0

impact with.

0:46.0

All right, Brown, so let's jump right in.

0:47.0

Let's talk with this first.

0:48.0

We're going to talk about, okay, how to win with money if you are on the lower end of the

0:52.2

income spectrum. What does it look like if you're on the lower end of the income spectrum what has what does it look like if you're making

0:55.1

$30,000 per year and and frankly in the world in which we live where we have super high

1:01.4

inflation the cost of housing has gone up, there is a really

1:05.7

good chance that if your income is $30,000 right now, things are tight.

1:11.2

And most likely, if you're going to be honest you don't so much have a

1:15.0

spending or an expense problem at $30,000 of income you have an income problem so

1:20.6

you have to figure out what are the things that I can do to impact that how can I increase and improve my income situation?

...

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