"I Don't Have Emergency Savings - Should I Use My Credit Card?"

Money Guy Show

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

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 15 December 2021

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What should you do if you don't have your emergency reserves, but you have a major expense you HAVE to cover? We'll walk you through that question and more in today's Q&A episode! Subscribe on YouTube! Download FREE Financial Resources from the show Get our Net Worth Tool Now! Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, Reeves, you cool if I give away some tumblers today?
0:02.4	Oh, I got the thumbs up.
0:04.0	Limited edition, just getting our full-time black tumbler
0:06.9	coming your way.
0:07.9	Now the blue will be our limited edition.
0:09.9	As we order more and more, it'll become a classic.
0:13.2	It's Brian Preston, the money guy.
0:16.2	Restoring order to your financial chaos.
0:19.1	Retirement, investing, taxing.
0:22.0	You've got financial questions.
0:23.6	He's got financial answers.
0:25.5	It's Brian Preston, the money guy.
0:28.4	All right, let's answer some questions.
0:34.4	Let me see if I can start us off with a good one.
0:41.1	Well, this is from Ellie.
0:42.3	We'll start with this one.
0:44.3	Ellie said, I'm 37 and I don't have any money in retirement.
0:48.7	I have $700,000 in cash.
0:52.5	Should I put it in mutual funds and ETFs?
0:54.3	So here's what I think is so interesting.
0:55.9	When I hear, I don't have any money in retirement,
0:58.6	but I got $700,000 in cash.
	...

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