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Money Guy Show

The Truth About Keeping Up with the Joneses

Money Guy Show

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

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 6 April 2018

⏱️ 52 minutes

🧾️ Download transcript

Summary

In this week's installment of The Money Guy Show, we break down how you can inoculate yourself against the temptation to try to keep up with the proverbial Joneses.

For more details, please visit the show notes on our website:

https://www.moneyguy.com/2018/04/the-truth-about-keeping-up-with-the-joneses/

Transcript

Click on a timestamp to play from that location

0:00.0

How to fight keeping up with the Joneses. If you can master this, the world is your oyster.

0:06.2

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

0:13.0

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

0:18.5

It's Brian Preston, the money guy.

0:21.7

Hey, money guy family, it's your host, Brian Preston. Help me go beyond common sense to stretch

0:26.5

that dollar in your back pocket as far as possible. Join Bob Mr. Bo Hanson. Go check out the website

0:32.4

moneygod.com and you're missing out if you're not checking out our YouTube channel as well.

0:37.7

And then connect with us on Twitter, Facebook, all the other social media outlets. We are there

0:42.1

to connect with you. But this is an exciting one. Yeah, I'm actually really pumped about this one.

0:48.2

This is one, there's so many things out there that conventional wisdom has people thinking

0:53.6

they're making the right decision. But they don't realize how much that the behavioral finance

0:59.8

side of human nature is pushing them in the direction they don't need to get in the wrong direction.

1:06.2

Exactly. So we're going to help you on, how do you create strategies? How do you have tools in

1:11.6

your financial toolbox that helps you stay on track and not worry about what those

1:17.8

Joneses are doing? We all hear about keeping up with the Joneses. Who are these people? And then

1:22.3

what are some of the things that could be leading you astray on your mental mindset that you just

1:27.8

need to have to kind of as a foundational knowledge. And here's what I like when I was doing show

1:33.7

prep because I wrote this show six months ago, seven months ago. It started. Yeah, so I just sat

1:39.3

out there for months. I don't know why Bo Cup tell me he didn't like it. Well, come on now.

1:44.8

Well, it's because it was awful. And they got a lot better. So it's kind of a lot better. And I

1:48.4

put in some statistics to really help I think, and notculate you to what's going on with these

1:54.0

Joneses. And this one I think is beautiful about this too is that everyone struggles with this.

...

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