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Money Guy Show

Reacting to Viral Money Clips with Erin Talks Money

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

🗓️ 25 August 2025

⏱️ 26 minutes

🧾️ Download transcript

Summary

Brian and Bo team up with special guest Erin from Erin Talks Money for a special reaction episode. From Roth IRA debates to the “poor rich” trap, the psychology of retirement spending, renting vs. owning, and the magic of compounding, this episode unpacks the biggest money myths and lessons you need to hear. ⁠⁠⁠⁠⁠⁠⁠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. ⁠⁠⁠⁠⁠⁠⁠⁠⁠NordVPN.com/MONEYGUY Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

When you have a pixel 10, you may get asked a few questions.

0:05.0

Like, what is that?

0:07.3

How did you do that?

0:09.0

And can we use your camera instead?

0:14.3

Ask more of your phone.

0:17.0

Google Pixel 10.

0:20.0

Welcome back, Money Guy Family.

0:22.3

We got a special React for you today with Aaron from Aaron Talks Money joining us today.

0:28.0

I can't wait to see what the content team's put together.

0:30.3

Brent, I am so excited that we have Aaron with us today.

0:33.7

Thank you so much for being here.

0:34.9

Thanks for having me.

0:35.8

I'm so excited.

0:37.0

That's my line. You can't say that's my thing. I'm borrowing it for your show.

0:41.4

There we go. Perfect. All right. Let's see what clips we have today.

0:45.0

Wow, I got a $10,000 bonus at my first job. I'm going to take $6,500 and put up my Roth IRA

0:50.0

and then never contribute another dollar until I hit 65. Wow, I also got a $10,000 bonus in my job, but I'm going to use it to go on vacation. I could die tomorrow. I have the rest of my life to invest. Well, I guess I should start saving for retirement now. I'm going to put $500 in my Rath IRA every year until I hit 65. What about you? I don't know. I haven't touched my Rath IRA since I put that $6,500 in it when I was 21 years old.

1:11.6

I've been investing in other things, but not my Roth. Well, I've put $10,000 in my Roth IRA. Let's see what we got? $25,000. Okay. What do you have? You only put like $6,500 in there when you were kids. Um, let's see. My Roth IRAs currently worth $178,000.

1:10.1

Wow, I made $170,000 completely passively.

1:12.7

And it's tax-free. I should have invested sooner. Well, I mean the end part, yes. We should invest in. I wish there was a third option of the person who said, you know what, I'm going to do my Roth this year. And then I'm going to keep doing it every single year thereafter. Because then imagine what those numbers would have been. I always love this.

1:44.7

Compounding interest really is that eighth wonder of the world.

1:47.7

I would encourage everybody if you're just now discovering this concept, go to moneygoy.com

...

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