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Money Guy Show

Why Americans Are Broke (2022 Edition)

Money Guy Show

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

Investing, Education, Business

4.73.1K Ratings

🗓️ 3 June 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Nearly 60% of Americans can't come up with $1,000 in an emergency. Even more are living paycheck-to-paycheck. Why are Americans so bad with money? In this episode, we'll discuss mistakes the average American makes with money and what you can do differently. 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

What's going on?

0:01.5

Why are Americans broke in 2022?

0:04.3

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

0:11.2

investing, taxes.

0:13.2

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

0:16.8

It's Brian Preston, the money guy.

0:19.4

Yeah, Brian, I'm excited about this because there's some unique things going on right now.

0:23.8

This is a unique time.

0:25.7

I think maybe not more than ever, but more than recently, things are feeling kind of interesting.

0:31.8

There's a lot of sort of macroeconomic factors happening that perhaps are making folks feel,

0:36.9

or maybe not even feel actually making folks not have a very strong army of dollar bills

0:42.7

right now.

0:43.7

Well, this is one of those topics.

0:44.9

I mean, we've done this type of content in the past and previously I spent a lot of time,

0:51.2

and we'll talk about this today too, some discipline type issues.

0:54.3

But there really are macro things that are also impacting a lot of people's financial

0:59.3

decisions.

1:00.3

We wanted to kind of jump into what's going on in the economy, but also talk about what

1:05.3

you can do because there's a lot of this stuff you don't control, but there are things

1:09.1

you can actually do to navigate these unique times well.

1:13.6

Let's talk about some sobering stats, some stuff that I think for financial mutants,

1:18.8

this should kind of hitch in the face.

...

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