So, You Won the Lottery - What Should You Do Now?

Money Guy Show

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

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 3 October 2022

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

As a fun hypothetical, let's say you just won the lottery. What should you do next? We'll walk you through that question and more in today's Q&A episode! Check out our NEW course, Know Your Number! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -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.
0:15.4	All right.
0:16.4	Poon, it has a question.
0:18.3	He says, baby is on the way.
0:19.9	Congrats.
0:20.9	Congrats.
0:21.9	Is it smart to max out our HSA knowing those expenses are coming up while pausing other
0:27.5	forms of investment?
0:29.9	He says they do have a company match that's up to 1K and plus it reduces taxable income.
0:36.0	How should he think about this?
0:37.8	How important is the HSA versus his investments like it's 401K, Roth, all that stuff?
0:42.1	It's so fine.
0:43.1	Normally I get to sit here and listen to Brian or beat himself over and over.
0:47.3	Here's where I've got to start, Poon.
0:48.3	The first thing I got to say is you got to go buy the financial order of operations as
0:53.5	your first line of defense.
0:55.8	The very number two thing on here is employer match.
0:59.8	It's free money.
	...

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