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Money Guy Show

Top 4 Financial Mistakes We Saw This Year! (2022)

Money Guy Show

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

Investing, Education, Business

4.73.1K Ratings

🗓️ 25 November 2022

⏱️ 32 minutes

🧾️ Download transcript

Summary

We saw some wild financial mistakes this year during the bear market. From making extreme changes to portfolio allocation, chasing the hot dot, and using too much leverage, we’ll talk about some of the biggest financial mistakes we saw in 2022 in this 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

Four big mistakes we saw this year.

0:02.4

It's Brian Preston, the Money Guy.

0:05.6

Restoring order to your financial chaos.

0:08.6

Retirement. Investing. Taxing.

0:11.3

You've got financial questions. He's got financial answers.

0:14.9

It's Brian Preston, the Money Guy.

0:18.3

That's right, Brian. I'm excited to share this because hopefully if we can share some of the mistakes that

0:22.9

we've seen people make this year with you, we can prepare you to likely not make these

0:27.9

mistakes moving forward.

0:29.1

Well, look, let's not take away that this year, 2022 has been a very unique year in the fact

0:34.6

that we've actually had a bear market.

0:36.6

Fortunately, bare markets

0:38.6

only come around typically around two times every decade. And we're dead slap in the middle

0:44.4

of it right now. So let's talk about what are these four financial mistakes and how can you

0:50.4

equip yourself to know if you start feeling like you want to move in this direction,

0:55.0

you can avoid. And the first one is probably no surprise, but I think it's going to hit

0:59.2

close to home for a lot of folks is going to cash. By the way, this is an interesting one to

1:05.2

bring up because everybody who's done this, they're like, wait a minute, I thought this show

1:08.8

was the mistakes we saw. And right now,

1:10.9

you're feeling pretty good about yourself. But I'm telling you, if we fast forward five years

1:17.5

in the future, you're going to look back and go, wait a minute, why was I in cash? Because it is right now

1:22.3

a very prideful moment that everybody's in cash is probably feeling really good about the fact that

...

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