The BEST Financial Strategy During the COVID-19 Pandemic
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 27 March 2020
⏱️ 41 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | The best financial strategy for crisis. |
| 0:03.6 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:10.5 | investing, taxing. You've got financial questions, he's got financial answers. |
| 0:16.0 | It's Brian Preston, the money guy. |
| 0:19.4 | Both typically, they're things that can be learned during a crisis. There's also things that |
| 0:24.6 | you're going to be in the middle of ego. Man, I wish I didn't know they're going in, but |
| 0:28.4 | there's definitely something I'm going to internalize and then I'm going to make sure |
| 0:31.6 | in the future, I don't get myself in this situation again. |
| 0:35.6 | What I think is so exciting, Brian, is whether this is like a fortunate or unfortunate thing, |
| 0:39.8 | we've been through crises before, whether it be the dot com bubble or 9-11 or the great recession |
| 0:47.2 | or fill in the blank. We've been here before and one of the great things you said is after a crisis, |
| 0:52.0 | you can learn a lot from there. You get to do an after-action review and we thought, well, |
| 0:56.3 | maybe there are some things that we've learned from prior previous experience that we can share |
| 1:01.3 | that might be valuable as we approach this or even the next crisis. Let's see if there's some |
| 1:05.6 | planning opportunities and things that you can figure out how this works with your financial |
| 1:10.4 | situation. You not only go into this the next time stronger, better, and more prepared, |
| 1:17.1 | you will be in a much better place to tackle this. Number one, give it gas and drive through it. |
| 1:25.1 | I think we talked about this in pre-show. You guys love recirculating this picture that Daniel created. |
| 1:32.3 | And this is supposed to be because he did somehow he found a picture of the hat that I had |
| 1:37.6 | when I worked at parties. I was the crew leader working the drive through. I mean, if you drove |
| 1:43.2 | through the hardies in Magdana, Georgia, more than likely, you saw me working there. And I'll |
| 1:48.4 | never forget that it was at parties that days of thunder, Tom Cruise, Robert DeVol, and others. |
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