When Saving More Money Might Actually Hurt You

Money Guy Show

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

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 29 May 2026

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Saving money is a vital part of building wealth, but there are five specific situations where it can actually work against you. Financial Advisors, Brian Preston and Bo Hanson, walk through everything from why 28% of IRA rollovers sit in cash seven years later to how extreme frugality can poison your relationships, running case studies comparing Average Allen and Manny the Mutant to show who comes out ahead. Saving is still a good thing, but you might be surprised by just how much the order of your decisions can change your financial future. ⁠Jump start your journey with our FREE financial resources⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Reach your goals faster with our products⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Take the relationship to the next level: become a client⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Subscribe on YouTube for early access and go beyond the podcast⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Connect with us on social media for more content⁠⁠⁠⁠⁠⁠⁠⁠ Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Some follow the noise.
0:03.0	Bloomberg follows the money, whether it's the funds fueling AI or crypto's trillion
0:07.7	dollar swings. There's a money side to every story. Get the money side of the story.
0:13.5	Subscribe now at Bloomberg.com.
0:18.2	Changes in sexual performance are more common than most people realize and support doesn't need to feel awkward
0:23.7	with medexpress everything happens privately online start by completing a short consultation reviewed by
0:29.9	UK registered clinicians if eligible treatment is delivered discreetly to your home with ongoing support
0:35.9	whenever you need it you're not alone in this.
0:38.7	Visit medexpress.co.com.uk slash podcast to learn more. Saving money is a vital part of building
0:45.0	wealth, but there are certain circumstances where saving more could actually be hurting you.
0:50.1	Brent, I am so excited because today we're covering five situations where saving money
0:55.8	could have real negative effects on your finances and potentially on your life. And we're
1:01.6	going to show you how to avoid making these five mistakes. So I'm Brian. He's Bo, and we're
1:07.6	financial advisor showing you how to save today for your great big, beautiful
1:11.6	tomorrow.
1:12.2	And with that, let's dive right in.
1:19.8	Brian, saving is obviously a good thing.
1:22.3	We talk about it all the time.
1:23.9	We talk about how powerful it can be and how if you do it well, it can change your life.
1:29.6	But in certain circumstances, there could be too much of a good thing.
1:34.5	Yeah, look, we're not trying to create some rage bait or click bait type thing.
1:39.6	This really is we wanted to highlight where a good behavior like saving can get you in trouble if you're
	...

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