Why Americans Are Broke

Money Guy Show

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

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 25 May 2018

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Why are Americans broke? On May 15, 2018, Charles Schwab released their second annual Modern Wealth Index Assessment for 2018. What this report revealed is that Americans have some work to do to rightsize their finances. What was even more interesting, is that this Wealth Index Assessment identified the primary contributing factor as to why Americans aren't better off financially.

Tune in to today's episode to find out why Americans are broke and what you can do to build wealth.

For more details, please visit our website for the show notes:

https://www.moneyguy.com/2018/05/why-are-americans-broke

Transcript

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0:00.0	Why are Americans broke?
0:02.0	That's right, we have all the answers on today's show.
0:05.0	It's Brian Preston, the Money Guy, restoring order to your financial chaos, retirement, investing, taxes.
0:14.0	You've got financial questions, he's got financial answers.
0:17.0	It's Brian Preston, the Money Guy.
0:23.0	Hey, Money Guy family, it's your host, Brian Preston.
0:25.0	Going beyond common sense, so every dollar in your back pocket goes just that much further.
0:30.0	Join by Mr. Bo Hanson.
0:32.0	Guys, we are recording this on May 15th.
0:36.0	Okay.
0:37.0	I don't know why that's significant, but I'm excited.
0:40.0	It's significant because just today on May 15th, Charles Schwab just released a 2018 Modern Wealth Index Assessment.
0:50.0	That sounds pretty official.
0:52.0	No, it's pretty cool. This is their second annuals. This is only the second year they've done.
0:56.0	I think they're jumping on the train because fidelity does a lot of research on retirement and wealth and other things.
1:02.0	Well, Charles Schwab is getting into the game too.
1:04.0	And this really does have a lot of takeaways.
1:07.0	And here's what I want you guys to do.
1:09.0	If you don't know, if you're brand new to the Money Guy family, maybe you discovered us on YouTube, you discovered us on iTunes, Stitcher or however, this is what we do.
1:17.0	We help you understand, get educated so you make great financial decisions.
1:21.0	So go check it out, MoneyGuy.com.
1:24.0	But here's a few key takeaways.
	...

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