Protecting Yourself: Banking System Under Stress

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

🗓️ 20 July 2008

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our banking system’s clearly under a lot of stress at the moment. Coming off a decade of aggressive mortgage lending, the system’s troubles have been compounded by a sputtering economy and retreating stock market. As an investor, you need to be smart about insulating yourself from the system’s problems. While I don’t want to be alarmist, a little effort now on your part could pay significant dividends down the road. If nothing else, you’ll sleep better with the knowledge that you’ve assessed your exposure and taken appropriate action. For more, visit the show notes on our site at http://www.moneyguy.com/2008/07/protecting-yourself-u-s-banking-system-under-stress Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Brian Preston, The Money Guy, restoring order to your financial chaos, retirement,
0:07.0	investing, taxing.
0:09.1	You've got financial questions, he's got financial answers.
0:12.7	It's Brian Preston, The Money Guy.
0:16.1	What a week!
0:17.1	I tell you what, you guys, you got to bear with me because I was planning on having
0:22.4	everything set up for you guys to go deeper into the world of investing and talk about mutual
0:27.0	funds.
0:28.0	Don't worry.
0:29.0	If you're tuning in this week and want to jump on that, and here how you can pick out
0:32.1	good mutual funds, we're going to do that, but it is going to get put off by one week
0:35.7	because there's just too many other things going on that require immediate attention, and
0:40.8	that's what we're going to be talking about today.
0:42.4	The state of banking, a lot of you guys have probably seen a lot of the stuff going on
0:46.7	on the nightly news with some of these bank runs that kind of reminds you of the Great Depression,
0:51.6	and I'm going to kind of put your mind at ease as well as tell you what you need to protect
0:55.7	yourself because there are some things that are going on out there in the world of banking
0:59.5	you need to know so that you can go make the correct actions right now before you get
1:05.0	caught in a bad situation.
1:07.5	Before we get into all the hot discussion here today, let me tell you, I am your host,
1:11.5	Brian Preston.
1:12.5	I'm a certified financial planner, a certified public accountant, and a personal financial
	...

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