The #1 Financial Regret of Americans (And How to Fix It)

The #1 Financial Regret of Americans (And How to Fix It)





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.

[michaelschiemer]

The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

[kD-bxmu]

you can really tell that Bo looks up to Brian. just by the way he looks at him, its truly amazing to see two people in the same field that work together have this much passion together as well. it's just nice to see.

[JoshHallingse]

When I started my first job fully funding a roth on top of matching the work 401k and saving for my first home would have been tough. I wish someone would have told me it's ok to contribute what you can and work towards the fully funded status in future years. Get out of the mindset of all or nothing.

[zackcinq-mars]

Brian should sign the books during a podcast so we can all see how dedicated he is!

[rhondavigil]

We invested in our 401ks slow and steady. Then, we got out of debt and took control of our finances. We turbo charged our investing after paying off the mortgage.
Now, we are retired and loving it.

[RyDoC]

Hearing the cup, and quieted giggle at the beginning gave me life

[graceyloufb]

Finally a pension related question! I'm further into my career, but this confirmed I need to save more on top of my pension to be financially secure. Thanks, guys!

[grantgoodman]

Is there ever a time Bo’s not SO EXCITED??? I love it guys! Keep up the great videos!

[rossinverted]

Would love to hear you on legacy 529 ideas. Legacy being opening multiple accounts (one per state rules) to let interest accrue to the cap for “infinite” college expenses. Multiple beneficiaries!

A Trust the best option? Rules after I pass away?
Love coming on and exchanging finance energy in a lacking society. Thanks Team

[yzyepnq]

I’m 52 and way behind in retirement savings but have learned so much from these guys since I started focusing when I turned 50. When I was younger part of me just really didn’t care and the other part thought investing was solely about buying, holding and selling individual company stocks and I would first have to understand all the terminology and know what all those numbers mean when you watch CNBC. Therefore I only contributed off and on small amounts to my 401k and did 100% bonds because it said safe. 😞

[wpelfeta]

My favorite memories are ones that were completely unexpected and maybe not so fun in the moment. But looking back, they are memories I wouldn't give away for anything. Like the time when we spent 72 hours hopping from airport to airport because our flights kept getting cancelled and delayed due to winter storms and they kept rerouting us.

[gojl]

I've been to Chatanooga. Ruby Falls and Rock City, then the Battlefield are fun. Also my aunt wouldn't paint See Rock City on her backyard birdhouse, which I think she should.
But I love road trips. My Dad's factory would close for two weeks every July. We drove up to Nova Scotia one trip, to Banff/Jasper one year, to LA and the Grand Canyon another. It was incredible. I've been to 48 states which will make you unusual.

[iansean]

lol @ the lemon over Bo’s left shoulder. That’s a new one in the background.

[Kindred]

It's true. I'm in my 40s now, mid-career and relatively successful making about $200k, and I'm living like I'm making $70k trying to catch up. If you're in the early phases of your financial journey - don't follow in my footsteps. It's not fun.

[MT-sqjo]

I don’t quite agree on using the current marginal tax rate alone to determine making pretax or Roth contributions.

Savings 30% tax now on a $1000 401k contribution may sound attractive, but for a 35 years old, that $1000 could turn to $8000 by the time he turns 65 (double 3 times over a 30-year span, approx. 7.2% yearly return). When he withdraws the money, even his marginal tax rate drops to 22%, this $8000 pretax withdrawal could cost him $1760 in income tax.

So, instead of saving $300 pretax money at age 35, one should still consider doing Roth instead so by the time he retires at age 65, the whole $8000 could be tax free.

Of course, this is oversimplified since one can argue that he could still invest the $300 tax savings to generate extra income by 65. But you get the point of my argument - if you are young, consider the potential size of tax free ‘earnings’ and not just the size of the initial investment.

P.S. Tax diversification is almost always a good thing, having money in pretax, Roth, and regular accounts make tax planning after retirement easier (mindful of Medicare surcharges, social security tax torpedo, RMD, etc.)

[angierice]

I wish id started at 10% 401k contribution instead of 6. It took me years to understand what I should have done, and Im now compensating by doing 15% in addition to my Roth and HSA. Time has been good, but man, it could have been great!

[treesarecool]

I’ve done so many of the roadtrip stops they’ve talked about. We did some ruby mining in North Carolina and then on to Chattanooga!

[eedre]

I wish I would have started a brokerage account earlier. Sure it's nice to have all those tax advantages and comfort factor in retirement accounts, but you won't have true dominance of your time and peace of mind until 59-1/2 without a an income stream separate from your pay check.

[RoqueCowboy]

Hi guys, would it be possible to have a second channel for highlights? I don't subscribe because I want to watch the full episodes and streams and don't need the highlights filling up my feed

[dandulik]

Appreciate the content as usual. Maybe try to make it to Cleveland. Just not in July!