Should You Pay Off Debt Before Investing? Here Is The Real Answer.
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 19 July 2019
⏱️ 44 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | Come one come all number lovers because we got you covered today when to pay off that fast and when to invest |
| 0:07.4 | It's Brian Preston the money guy restoring order to your financial chaos |
| 0:13.9 | retirement investing |
| 0:15.6 | Taxing you've got financial questions. He's got financial answers. It's Brian Preston the money guy |
| 0:23.3 | So often we get this question. Hey should I pay this off should I invest should and we give you all kinds of rules of thumbs |
| 0:30.0 | And we give you all kinds of sayings and we give you all kinds of |
| 0:34.3 | You know |
| 0:36.3 | March today is about the numbers today is about actually putting the rubber to the road to say when should I when should and I and why does it matter? |
| 0:47.2 | Look I love |
| 0:49.2 | That we have diversified we started off as a podcast we moved into YouTube |
| 0:54.5 | But this thing dirty little secret it is turned into |
| 0:59.6 | The the YouTube comments has turned into something they kind of occupies a little a big portion of this brain |
| 1:06.3 | It's your version of social media and you debt crusaders. I mean y'all think all debt just bad bad debt |
| 1:13.7 | And I try to give you some logic you know nope |
| 1:17.0 | Nope, then I'm like you know what we need to give them some numbers |
| 1:20.0 | Let's do they need to go to see some numbers because you can't argue with the numbers |
| 1:24.3 | So let's kind of load them up with with how this is because there's a thing about debt |
| 1:27.7 | That is one of those things where |
| 1:30.2 | It I always tell people you have to think about it as a dangerous tool. Yeah, it can be a knife |
| 1:36.0 | It can be a chainsaw it depends upon really how scared you need to be with this this tool |
| 1:41.7 | It's in there because and here's why debt is so important is because debt has a profound impact on your credit score and credit scores |
| 1:49.8 | You know that that's what's going to your insurance premium rates. That's what's going to talk about you know |
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