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Money Guy Show

Should You Buy a New or a Used Car?

Money Guy Show

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

Investing, Education, Business

4.73.1K Ratings

🗓️ 4 October 2021

⏱️ 22 minutes

🧾️ Download transcript

Summary

With used cars being so inflated right now, does it make sense to try to buy a new car? 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 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

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:07.0

investing, taxing.

0:09.0

You've got financial questions.

0:10.6

He's got financial answers.

0:12.6

It's Brian Preston, the money guy.

0:16.6

Here's a Facebook question, Brian.

0:18.6

This is from Reena.

0:20.8

So Reena said, what's the goal of investing for someone who has a pension or is 25% still

0:27.8

the number?

0:28.8

This all the time, hey, okay, guys, I hear you talk about 25% and I hear it, I hear it.

0:33.4

But I, I'm one of that rare few that has a pension.

0:37.6

How should that change or reframe my thinking?

0:40.1

Yeah.

0:41.1

I mean, if you have it, it doesn't change a ton.

0:42.6

I mean, because I think pensions are powerful for your retirement and the fact that twofold,

0:47.2

if you, you know, a lot of times you might have the chance to roll it over and they're going

0:52.0

to tell you what your value of that account is.

0:55.8

But for true pensions that get a new attized, you're going to be able to take whatever that

0:59.6

amount is and look, compare it to your living expenses at retirement, reduce it by the

1:05.2

pension.

1:06.2

And then whatever the difference is, that's what you need from your other assets to for

1:11.8

retirement and financial independence.

...

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