Financial Advisors React to Big Money Fails

We see big money fails on social media all the time, so we had to get Brian and Bo's reactions to some of the craziest money fails out there on today's react episode. 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

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Speaker 00

  I don't know what I'm doing. Need a break. Forget it, I quit.

• 0:03Speaker 01

  Escape to Pluto TV.

• 0:05Speaker 02

  This is objectively fantastic.

• 0:07Speaker 01

  Relax into the movies and shows you already know and love, all for free. Shwing! Even our news is uplifting.

• 0:13Speaker 03

  You stay classy, San Diego.

• 0:14Speaker 01

  Watch Tommy Boy, Crazy Ex Girlfriend, Anchorman: The Legend of Ron Burgundy, The X-Files, Wayne's World, and so much more.

• 0:20Speaker 04

  We're not worthy!

• 0:22Speaker 01

  The best things on TV really are free.

• 0:24Speaker 02

  You just have to know where to look.

• 0:26Speaker 01

  Escape to Pluto TV. Stream now, pay never.

• 0:30Speaker 05

  Espolón Tequila. It arrives in a cloud of feathers with a cry to wake the dead. Espolón Tequila. Balanced, delicious, perfect for nights out, nights in, and people who like to drink tequila. Just add ice, lime, and your mouth, then hold on tight. 100% A C A V, 0% E G O. Espolón Tequila. For a real margarita, ride the rooster.

• 0:54Speaker 06

  Espolón Tequila, 40% alcohol by volume, 80 proof. Copyright 2026, Comparia America, New York, New York. Drink responsibly.

• 1:00Speaker 07

  I've been losing all my money sports betting, so I'm selling my car at CarMax so I can get some money and bet on tonight's Cowboys-Bengals Monday Night Football game.

• 1:11Brian Preston?

  Hey, guys. The team has put together some cold videos for us on big money mistakes.

• 1:18Speaker 00

  Brent, I am so excited to see what the internet has for us today. Let's dive in.

• 1:24Speaker 03

  This is how much I made this week as a 20-year-old full-time day trader. Monday, in one day, I lost $4,270. It's been worse. Tuesday, it saved my week, $7,100. Maybe this week ain't so bad. Wednesday, big news event, I didn't trade, $0. It felt so good.

• 1:37Brian Preston?

  You needed a day off.

• 1:38Speaker 03

  If you ask me how I get used to losing so much money, I don't. And today, I said I was gonna come back, I dug a deeper hole. But I'm only down this much. It's been worse, surprisingly. Hopefully next week's better.

• 1:47Brian Preston?

  Oh, my gosh. See, I don't do public math, but I saw there are a lot more negatives than positives. And can you imagine? You could sense it almost in the video. His everyday interaction with happiness and sadness is directly correlated to what happened in his trading portfolio. For me, that would be a disaster emotionally and for relationships.

• 2:07Speaker 00

  That felt the exact same way, as I have friends who love going to casinos. And they'll come and tell me, "Oh, I was hot and I hit it. Oh, man, I got hit. I got..." But it's okay, I'll make it back. It's okay, it's good. That is not investing. That is not wealth building. Day trading and having huge wins and huge losses on a day-to-day basis is not how you build wealth over the long term. I would say that was indeed a big money fail.

• 2:31Speaker 07

  I've been losing all my money sports betting, so I'm selling my car at CarMax so I can get some money. And then on tonight's Cowboys-Bengals Monday Night Football game, I need some money.

• 2:40Brian Preston?

  Is he serious?

• 2:40Speaker 07

  I lost thousands yesterday. They just gave me 3,000 and I know I shouldn't do this, but I'm betting it tonight on Monday Night Football. Jamar Chase, 50 yards, Joe Burrow, two passes, touchdowns, Cooper Rush, 200 yards.

• 2:49Brian Preston?

  That makes my stomach hurt.

• 2:50Speaker 07

  Easiest bet ever. Once it hits, I'm coming back and getting a BMW right here.

• 2:54Speaker 00

  Could you imagine your stuff being so bad that you had to go hawk your car? You had to get rid of your car and then you had to take that money and go bet? And you know what I'm willing to bet, Brian? I bet it didn't hit. I bet that he did not get that money back. Nate, can you confer? He did, it didn't happen. He just lost that money, Brian.

• 3:14Brian Preston?

  I think that we talk about compounding growth. You can also have compounding bad decisions where you keep making one bad decision and you chase it with another. The sheer fact that he's having to go sell a car or get a title loan on a car to be able to do sports betting, it just breaks my heart. And then the fact that he still has, by the way, if he hits it, you notice he didn't say, "I'm gonna go fund my Roth IRA." He had his eye on this consumption decision of buying a BMW. That is just not the path to success. We work with thousands of millionaires and I can just tell you that that is not their journey to building seven-figure wealth.

• 3:54Speaker 00

  Could you imagine if one of our employees called in and said, "Hey, guys, I cannot come to work today because Joe Burrow did not throw for two touchdowns last night. I sports bet my car and it's gone. Maybe I'll see y'all next week."

• 4:07Brian Preston?

  I'm noticing a trend here. Understand the difference between gambling, speculating versus investing. Investing can actually build wealth for you. Gambling, speculating, yeah, maybe you get it, you hit it, but the sheer numbers, the majority of people are going to come out as a sad tale.

• 4:28Speaker 09

  Do you think any respectable business owner is gonna waste their time trying to pass by slow walking, normal people? People don't respect their time, which is why they walk as slowly as this. And then you, as a business owner, you have to take over. It's gonna waste a lot of your time. That's why rich people don't walk. If you're gonna walk through the premium version of walking, which is on a freaking treadmill in your house, at your desk, making money.

• 4:47Speaker 00

  Rich people don't walk. I just, I don't think that's true. I know many very wealthy people and a lot of them walk. A lot of wealthy people walk all the time. If you are in the place where walking is causing you to not build wealth and the only type of walking you ought to be doing is premium walking at your desk on a treadmill, I'd argue you haven't found the right job yet.

• 5:06Brian Preston?

  Proof. If you go look at the Apple campus that Steve Jobs

• 5:11Speaker 00

  Lots of walkers.

• 5:11Brian Preston?

  Steve Jobs designed, so he, cause he did some of his best

• 5:15Speaker 00

  Uh huh.

• 5:16Brian Preston?

  Like decision making while he was walking. It kind of, maybe he was wrong. He goes, what did he say? Did he say millionaires? Maybe he meant to say millionaires don't walk, but billionaires do. I don't know, but I disagree. I'm sure it was all a joke.

• 5:28Speaker 10

  Jason, this is Alex with Earth Motor Cars. Giving you a call about your 21 SF90 you have for sale?

• 5:33Speaker 11

  Yes, sir. Yeah, I'm trying to get rid of this car and I wanted to trade it Corvette Stingray C8. I think it's the 21, yeah.

• 5:40Speaker 10

  Okay. And you have a Ferrari SF90 for trade?

• 5:44Speaker 11

  Yeah, I do, man. Yeah, that's, that's the car that I wanna kinda get out of now. So.

• 5:48Speaker 10

  Okay.

• 5:49Speaker 11

  I don't know, man. The payments are getting kinda crazy. So I just thought I'd get rid of it and get into something else. So.

• 5:53Speaker 10

  Yeah, sure.

• 5:54Speaker 11

  Yeah, I just wanna get as close to my payoff as possible, or if not all of it.

• 5:57Speaker 10

  Okay.

• 5:58Speaker 11

  Um, I still owe a reasonable amount on the car, so.

• 6:01Speaker 10

  Okay. Well, how much do you owe on it?

• 6:02Speaker 11

  Uh, about 690 something.

• 6:05Speaker 10

  Oh, man.

• 6:06Speaker 11

  Yeah, I bought the car for 770 in 21.

• 6:10Speaker 10

  I'm gonna be honest with you, man. My number is probably gonna start with a four.

• 6:13Speaker 11

  Oh, my God.

• 6:14Speaker 10

  Yeah, man. You're close to a little over $200,000 in negative equity, bro.

• 6:18Brian Preston?

  Graham Stephan had some content on with this, this gentleman who's from Atlanta. I was like, how do I not know this guy since we're, we're Atlanta boys? And he was saying, cause he, he sold luxury cars, you know, kind of these exotics. 75% of people that are buying those type of cars are financing them for super extended links. And I couldn't believe it. So to hear somebody has $200,000 in negative equity. Guys, what are we doing? Don't drive your wealth around. It's better to be rich than to just look rich. And do people really care what you're driving in the first place? No.

• 6:54Speaker 00

  All right. So I'm going to throw this out there. And when you do buy an automobile, we think you should follow 238. 20% down. Don't finance pretty more than three years and you cannot have your car payment exceed 8% of your monthly gross income. That guy did not follow any of those. And our number one caveat is if you buy a luxury automobile, you do not finance it. You have to pay cash for luxury automobiles or else you're going to find yourself in a situation. Maybe you're not $200,000 underwater, but maybe you're $20,000 underwater. And any underwater on a vehicle is too underwater on a vehicle.

• 7:27Brian Preston?

  Here, here's a succinct thought. If you had to put premium fuel in the vehicle, you ought to pay cash for it.

• 7:31Speaker 00

  I like that. Write that down.

• 7:33Speaker 12

  I would encourage people to really look into the penny stocks where you paying a couple of dollars, 50 cents or whatever, whatever. Within five or six months, that money will flip so fast.

• 7:41Brian Preston?

  It'll flip alright.

• 7:43Speaker 12

  Opportunities where I got into crude oil, it was fluctuated with $3, $2. And I ended up kind of doing my research and I found a competitor of it. They kind of had the same trend. And I seen them. They were down one of like 39 cents. So I bought into it, right?

• 7:58Brian Preston?

  I like that music they put in the background. It makes it seem more.

• 8:01Speaker 00

  This is not investing. This is, this is no different than Adrian Peterson sitting at a roulette table saying, hey, you know what I love? I love the red 17. That red 17 is looking hot. And yeah, you might hit red 17 and you might get a big ROI, but over the long term, that is not a consistent and sustainable investment strategy. Picking penny stocks, hoping that you're going to find the one that happens to go 10x is not how you build wealth.

• 8:25Brian Preston?

  Was that Adrian Peterson?

• 8:26Speaker 00

  Yeah, that's who that was. Adrian Peterson.

• 8:28Brian Preston?

  Peterson giving that advice. So Adrian Peterson is telling people to buy penny stocks and then he's done. Okay, what Adrian is not telling you is yes, he might have made $2 million on that one transaction. I want to know about the other 60 transactions that he didn't make that on. That's the thing. Everybody always tells you they're winners. They're very quick to tell you about the winners. I want to know about the losses. I've worked with a lot of NFL players back in the early part of my career. And I don't think that's something you can build your financial life off of.

• 8:58Speaker 13

  Going off folks, it's your boy Stevo got me rolling. Today I got my man Marco approved on this 2019.

• 9:05Brian Preston?

  He's got a baby in his arms. He's got his wife there with him.

• 9:13Brian Preston?

  Oh my gosh, and he's got the shovel out. He's digging the hole for his life and death.

• 9:18Speaker 13

  Everyone's approved. As you know, I use your ID, piece of mail and your name.

• 9:22Brian Preston?

  Oh God.

• 9:22Speaker 13

  DM me at Stevo got me rolling. We're gonna get you rolling off to the.

• 9:25Brian Preston?

  Uh, rolling into the ditch.

• 9:26Speaker 00

  Uh, one is a luxury automobile. So you're gonna buy a luxury automobile, you gotta pay cash. Two, I don't think $499 down qualified for 20%. I don't think that that would have been 20% of that. And look, when you are in the messy middle and you have life pulling you in a thousand different directions, you have a brand new baby. The thing that you probably don't want to be doing is going out and buying luxury automobiles that you're putting very little down on. I imagine you're financing it over an extended period of time with a huge monthly payment. I just don't believe that is what a sound financial decision maker would be making in the messy middle.

• 10:03Brian Preston?

  Yeah, I think he's feeling good only in the moment because I think about the depreciation.

• 10:07Speaker 00

  Insurance.

• 10:08Brian Preston?

  I think about the insurance. I think about the premium fuel. I think about the repairs on those premium vehicles.

• 10:15Speaker 00

  I think about the chicken nuggets and the french fries and the milk and the throw up and the poop.

• 10:21Brian Preston?

  All that stuff with the baby.

• 10:22Speaker 00

  Oh yeah.

• 10:22Brian Preston?

  By the way, Stevo, he might get you rolling, but he ain't gonna get you out of the ditch.

• 10:26Speaker 02

  Tell us your biggest money mistake you've ever made.

• 10:29Speaker 09

  Biggest money mistake would have to be the investment in the solar panels.

• 10:33Speaker 00

  Oh, what'd you spend on the solar panels?

• 10:35Speaker 04

  It's 36,000.

• 10:37Speaker 00

  On alone?

• 10:37Speaker 04

  Yeah.

• 10:38Speaker 02

  Nothing down.

• 10:39Speaker 04

  Nothing down.

• 10:40Speaker 02

  What's your biggest money mistake?

• 10:41Speaker 04

  I would say buying a brand new car.

• 10:43Speaker 02

  Ooh, what was it?

• 10:45Speaker 04

  The 2015 Grand Cherokee.

• 10:46Speaker 02

  Brand new Jeep Grand Cherokee, and you took out a loan for this? How big was the loan?

• 10:50Speaker 04

  The full amount.

• 10:52Speaker 02

  I think the biggest money mistake was financing a bed. Ooh, a bed. How much did you finance? Seven, eight thousand.

• 10:59Speaker 01

  Wow.

• 10:59Speaker 02

  Yeah, so.

• 11:00Speaker 01

  Where's that bed from?

• 11:01Speaker 02

  Did they make you coffee? I mean, what are they, what are they putting in that?

• 11:03Speaker 00

  It seemed to me that there was a common thread here around depreciable assets. Whether it be solar panels, or an automobile, or a bed, and people financing 100% of it, meaning they have no skin in the game, no down payment. Now, I don't love financing furniture if you can avoid it. I don't know that financing solar panels makes a ton of sense when you actually run the math, but financing an automobile is not the craziest thing in the world, so long as you're following 238. But if you were borrowing 100% of whatever the value of that asset is, and that asset goes down in value over time, you are literally setting your financial future on fire.

• 11:38Brian Preston?

  You know, the key ingredient to wealth creation, the first ingredient is discipline. That's the ability to live on less than you make. You know what doesn't get you closer to that, that goal? Is when you're having to leverage all of your key consumption purchases. Because in the short term, it feels like you can afford anything at $200 a month at a time. But when you start stacking those on top of each other, plus the interest payments, you quickly realize that you're paying more towards the consumption than delivering your best life. And that's why I don't, I don't like anybody using debt that way. Make sure, if you don't know any better, I want you to go check out moneyguy.com/resources. We have our financial order of operations. If you want to fast track, I've even written a book called Millionaire Mission

• 12:23Brian Preston?

  that details each one of those steps. You don't have to be stuck in this life where you're lost, knowing where your next dollar is going to come from, but also what you're going to do with your next dollar after you build that margin into your life to actually live on that discipline.

• 12:39Speaker 14

  I'm gonna be completely honest, man. I done lost all my money trading crypto, and I'm basically homeless. This meme coin get rich scheme is really not what it is, and everyone's just trying to sugar. But I'll be the first to tell you that I basically feel like I got scammed. You guys might be asking, well, who scammed you, bro? Who scammed you? Well, it's really you guys in the comments. I mean, you guys just keep telling me to buy all these coins.

• 13:00Brian Preston?

  I see it in my comments, too.

• 13:01Speaker 14

  Of course, right when I bought it, I saw a big dip and my money just went down. So the fact that you guys keep commenting and I keep buying is just getting ridiculous.

• 13:09Speaker 00

  Peter Lynch, great mutual fund manager from yesteryear, always said, "Don't invest in something you don't understand. Don't buy things that you didn't understand." If you're buying a meme coin or a crypto or something like that, and you have no idea what it is, how it works, or why it might make sense for you, you should have a red flag going off saying, "Maybe I should not invest in this thing I don't understand." That's thing number one. Thing number two, don't let other people tell you how to spend your money or how to use your resources if they are not qualified to do so. And let me go and put your mind at ease. Most folks in the social media comments are not qualified to tell you what to do with your dollars. So just because someone says, "Hey, buy this thing, invest in this thing, carry out this strategy. It's what you will need to do."

• 13:52Speaker 00

  They don't know you. They don't know your situation, and they are not looking out for your best interest.

• 13:57Brian Preston?

  You know, I did a crypto experiment, and here's where the big red flag for me. When I saw the daily volatility, when this thing was moving multiple percentage points, not every now and then, but almost every day, I was like, it hit me. I mean, as a person who actually manages money and has built my own very successful portfolio, I was like, if it's moving this much every day, this is closer to speculation than it is to investing. Investing shouldn't feel this way emotionally. Investing shouldn't have this much ups and downs. And investing shouldn't take you to on these rides where you could, yes, hit the boom, but there's a heck of a lot of bust out there. And that was a red flag for me, and I realized I don't want on this train.

• 14:39Brian Preston?

  I'm going to do investing my way, where I take a little bit today to build my great big beautiful tomorrow by doing index funds and other things that are much more likely to tie into the success of the economy than just hoping this is the next big thing that's going to hit for me.

• 14:55Speaker 00

  Building towards financial success, building wealth is surprisingly simple, but it's not incredibly easy. And there are tons of voices out there, tons of people out there trying to get you to make bad financial decisions. Well, that's not what we want to do. We want to help you believe that you can do money better. It's exactly what we do at the Money Guy Show. If you want to know more, make sure you go to the website, moneyguy.com/resources. Check out all the free resources so we can load you up. I'm your host, Brian Preston, Mr. Bo Hanson. Money Guy team, out. The Money Guy Show is hosted by Brian Preston and Bo Hanson. Brian and Bo are partners with Abound Wealth Management. Abound Wealth Management is a registered investment advisory firm regulated by the Securities

• 15:38Speaker 00

  and Exchange Commission in accordance and compliance with the securities laws and regulations. Abound Wealth Management does not render or offer to render personalized investment or tax advice through the Money Guy Show. The information provided is for informational purposes only, may not be suitable for all investors, and does not constitute financial, tax, investment, or legal advice. All investments involve a degree of risk, including the risk of loss. I don't know what I'm doing. Need a break. Forget it, I quit. Escape to Pluto TV.

• 16:06Speaker 02

  This is objectively fantastic.

• 16:08Speaker 01

  Relax into the movies and shows you already know and love, all for free. Swing! Even our news is uplifting.

• 16:14Speaker 02

  You stay classy, San Diego.

• 16:15Speaker 01

  Watch Tommy Boy, Crazy Ex Girlfriend, Anchorman: The Legend of Ron Burgundy, The Ex Files, Wayne's World, and so much more.

• 16:21Speaker 13

  We're not worthy!

• 16:23Speaker 01

  The best things on TV really are free.

• 16:25Speaker 04

  You just have to know where to look.

• 16:27Speaker 01

  Escape to Pluto TV. Stream now, pay never.

• 16:30Speaker 05

  Espolón Tequila. It arrives in a cloud of feathers with a cry to wake the dead. Espolón Tequila. Balanced, delicious, perfect for nights out, nights in, and people who like to drink tequila. Just add ice, lime, and your mouth. Then hold on tight. 100% agave, 0% eagle. Espolón Tequila. For a real margarita, ride the rooster.

• 16:55Speaker 06

  Espolón Tequila, 40% alcohol by volume, 80 proof. Copyright 2026, Compaq America, New York, New York. Drink responsibly.