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Money Guy Show

Top 3 Money Traps to Avoid By Age!

Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 28 February 2020

⏱️ 53 minutes

🧾️ Download transcript

Summary

A big part of our job as financial advisors is protecting people from making bad behavioral mistakes with their finances. Knowledge is power! In this episode, we'll equip you with everything you need in order to spot common money traps and protect yourself from accidental financial mistakes. For more information, visit: https://www.moneyguy.com/2020/02/money-traps-to-avoid-by-age/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Three money traps to avoid by age.

0:04.1

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

0:11.2

investing, taxes.

0:13.3

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

0:16.9

It's Brian Preston, the money guy.

0:19.5

Yeah, Brian, I think it's so interesting.

0:21.7

You know, this show, it kind of came about organically, you know, as we were sitting around

0:26.0

as a content team, talking about, you know, what are some things that we see and that

0:29.9

we notice out there, we started kind of telling some stories.

0:32.6

And as we were telling the stories, we started seeing some common themes be laid over

0:37.3

while, you know, this stuff is good because if we could, if we could educate people on

0:41.7

some of these things that they should be aware of, some of these traps they should recognize,

0:45.8

it will set them up to be better consumers moving forward.

0:48.9

Yeah, I want to essentially, I want to, I want to, essentially, to knock you late everybody

0:52.1

to some of the tactics, the tricks, the manipulations that sales professionals use against you.

0:58.1

And then we hit us while we were kind of talking about this and going through because

1:01.1

we came up with originally five, then we figured out some of these were related really

1:05.3

to three things.

1:07.2

So we brought it down to three, but then we were like, we're like, this every age is different

1:12.0

because in your 20s, as we'll get into, they appeal to your emotion of pride that you

1:17.1

deserve this year at this point.

1:18.8

But when you get older, they try to scare you to death with fear.

...

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