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Money Guy Show

Should You Start Your Own Business?

Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 4 August 2021

⏱️ 25 minutes

🧾️ Download transcript

Summary

How do you know if you should leave a company to start your own business, and what should that process look like? We'll walk you through these questions and more in today's Q&A episode! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You know what, we're gonna give you guys some tumblr.

0:02.0

So make sure you get your questions in the chat.

0:04.1

We're gonna load you guys up.

0:06.3

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

0:13.2

investing, taxing.

0:15.2

You've got financial questions, he's got financial answers.

0:18.8

It's Brian Preston, the money guy.

0:22.8

Guys, just keep giving them to me.

0:24.3

I'm gonna start with this first one from Brian, his Brian with a Y.

0:28.1

He said, for a person in their early 40s that has a net worth over a million, is it okay

0:34.0

to slow down in order to make a kid's dream come true?

0:38.7

Specifically, he wants to be a race car driver, so it has a monetary cost to it.

0:43.4

So this is a little unique.

0:45.3

He's asking, all right, we're in our 40s and we have this net worth over a million.

0:50.9

Can we take our foot off the pedal and pursue this other thing for the benefit of my child

0:57.1

or perhaps if that's something they're thinking about doing, how would they assess if they're

1:01.9

at a place where they can do that?

1:04.6

And that is something that they've done the work to lay the foundation and be able to

1:09.5

do.

1:10.5

Well, I don't look at this.

1:11.5

I mean, I think this is a great time to ask a question like this because we're right

1:14.1

in the middle of the Olympics right now and you just know every one of those Olympic

...

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