The Dark Side of Being a Millionaire! (The Truth About Being Wealthy)

Money Guy Show

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

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 27 May 2022

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Building wealth feels amazing, but beware of the pitfalls and traps along the way! We want you to be set up for success financially and personally. Let's explore the downfalls countless millionaires have fallen into and unpack loads of tips to keep you from going down the same path. Here's how to stay on the path to a life of freedom and abundance! For more information, visit: https://www.moneyguy.com/2020/01/dark-side-of-being-a-millionaire Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The dark side of being a millionaire.
0:03.8	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:10.9	investing, taxes.
0:12.8	You've got financial questions, he's got financial answers.
0:16.4	It's Brian Preston, the money guy.
0:19.1	Yeah, Brian, I'm excited for us to talk about this today because it seems like in the
0:23.4	world in which we live, becoming a millionaire or being wealthy is the status symbol that
0:28.3	you're going to ascribe to.
0:29.3	People want us to be like lifestyles of the rich and famous and have wealth and have
0:34.0	comfort and have security, but it's important to note there can be a dark side too well.
0:40.4	Well, I think people just have the wrong impression about what money will do for them.
0:45.1	Money is just a tool.
0:46.6	I know that.
0:47.6	That sounds so easy when you see somebody talking head on YouTube, says that to you, but
0:52.7	because here's what I think about though, is it?
0:54.6	I see so many people say, you know what, if I could just have $3 million or if I'm going
1:00.5	to live like a miser because so many people are saving to the point that they think if
1:05.2	I get to $2 million, it's going to answer all of their hopes and dreams and it's going
1:09.4	to put them on this thing.
1:10.4	But the reality is wealth is so much more complicated than that.
1:15.9	That's why I say when I come back and fall back to, it's a tool, people are like, what
1:20.7	does he mean by that?
	...

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