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Money Guy Show

What Americans Get Wrong About Building Wealth

Money Guy Show

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

Investing, Education, Business

4.73.1K Ratings

🗓️ 28 January 2022

⏱️ 39 minutes

🧾️ Download transcript

Summary

Building wealth is surprisingly simple, but it isn't easy. Most Americans aren't successful at building lasting wealth. What are they getting wrong? How can you build wealth successfully? In this episode, we'll discuss how most millionaires build their wealth and how you can, too. Check out our website for more information. Subscribe on YouTube! Download FREE Financial Resources from the show Get our Net Worth Tool Now! Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

What Americans get wrong about wealth building?

0:03.7

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

0:10.6

investing, taxes.

0:12.6

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

0:15.8

It's Brian Preston, the money guy.

0:19.8

Yeah, Brian, I am so, so, so excited about this show because I think a lot of folks have

0:25.2

some misinformation or the wrong idea about what it actually takes to build wealth, specifically

0:31.3

in this country, at this time, in this day and age.

0:34.3

And we've been doing this long enough now.

0:36.0

We've seen the tried and true steps that you can take, the tried and true methods to

0:41.4

actually build wealth.

0:42.4

So we want to kind of flip the script and set the record straight on the right ways to

0:46.2

do it and how not to fall into that broke category.

0:48.7

If you've ever been curious how wealthy people do it legitimately, not what's in some

0:54.6

brochure, what's in somebody's glossy sales process, we're going to show all that today.

1:01.0

But first, let's set the table, though.

1:02.4

What I would like to do is go over some stats that prove without a doubt most Americans

1:08.6

are failing on the wealth building process.

1:10.9

Yeah, so the first stat, this one, this one just like, if you want to think about one that

1:14.3

makes our blood boil, this is it.

1:17.0

47% of credit card users carry a balance.

1:20.7

That means 47% of folks who use credit cards make the decision every month, hey, I'm not

...

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