Financial Advisors React featuring Graham Stephan

We welcome Graham Stephan for a high-energy round of internet money reacts. From “you can’t save your way to wealth” hot takes to high-risk crypto gambles and luxury car traps, we separate truth from clickbait. Plus, the one piece of advice Graham still gives that can make you a tax-free millionaire. ⁠⁠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. ⁠⁠⁠NordVPN.com/MONEYGUY 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.

• 0:01Speaker 00

  Into the wild, the Calteer Panther encounters a shimmering crocodile, a lonely lovebird, a breathless zebra, and a restless tiger.

• 0:15Speaker 01

  I love football season. The games, the rivalries, the food, getting everyone together. No game day feels complete without a trip to Total Wine & More. I can find everything from cold beer and canned cocktails to wines and spirits for the whole crew. And if I want to bring something different to the watch party, the Total Wine team always has ideas. Plus, it's nice knowing I'm getting the lowest prices. Get your game day lineup ready at Total Wine & More. Spirits are not sold in Virginia and North Carolina. Drink responsibly. B21.

• 0:43Brian Preston?

  We have a treat for you guys in the Money Guy family. We've got Graham Stephan joining us today for some wild and crazy reacts.

• 0:51Speaker 03

  Brian, I am so excited about this because I can't wait to see what the content team has put together for us to react to. Graham, thanks so much for hanging out with us today.

• 1:00Speaker 04

  Thank you for doing this. I'm honored to be here.

• 1:02Speaker 03

  All right, let's dive right in.

• 1:03Speaker 05

  The idea of becoming a millionaire is an adopted concept. It's a lazy man's or woman's dream. If you make 400 grand a year, I don't know how you feel good about yourself as a husband and a father. This is why I tell people, never get advice from a millionaire. Because when you go from nothing to a million, the first thing you do is you go into conservation. When you study the most successful people on this planet, they're buying whatever the hell they want. Because spending is not the problem. It is for the middle class. And the reason spending for the middle class is a problem is because they've taken their attention off of income and put it onto a budget. And a budget is a defensive position. It does not put points on the board. You cannot save your way to wealth, cannot save your way to freedom, you cannot save your business, you cannot save your brand. The only way to save anything, true prosperity and affluence come from expansion and risk-taking, not from saving.

• 1:48Speaker 04

  See, but Grant is great at marketing. Like, he's targeting that 5% of people where they're going to hear that and be like, "He's speaking to me."

• 2:00Speaker 03

  What I think is wild is that I could not agree with him more that you absolutely can save your way to wealth. I mean, we have an entire financial planning business based on folks who have literally saved and invested a wealth. And for him to say that, oh, if you make $400,000, how do you feel good about yourself? A million is nothing. That's asinine. That's not the real world. That's not where people actually live.

• 2:19Brian Preston?

  Well, I think that Graham is spot on is that what Grant is trying to do is stratify to that 5% of the population that wants to, that he can sell products to. Because without a doubt, when you start your journey, you better be budgeting, knowing what your dollars are doing. As you even catch a little traction, then you start investing index funds and all that stuff. Grant doesn't want those people because if you go get into the apartment complexes and the other products he's selling, you need to be higher than that. I've done a lot of entrepreneurs that have bought Grant's programs because it helps with sales and other things. So I think he's just thinning the herd. He doesn't really believe it's really good click engagement.

• 2:58Speaker 04

  There's another guy, Sebastian Giorgio, went viral like two years ago by saying that if you don't have a Lamborghini, you should actually sit down and have like a serious discussion with yourself as to why you don't have a Lambo. 200 grand is trump change. But he got so much attention from it. And his whole point is that the opportunities exist if you are there looking for them and it's your priority. But at the same time, it's just, it's good marketing.

• 3:21Speaker 03

  It's good marketing.

• 3:22Speaker 04

  And we're talking about it. And this is proof that like it's working for Grant.

• 3:26Brian Preston?

  Yeah, but as the part that are we making the world a better place with the content? It just that that's the part that I'm like, mm.

• 3:31Speaker 04

  For the 5%, yes. For 95%, they're going to talk about it like this and move on with their lives.

• 3:37Speaker 03

  That's right.

• 3:37Speaker 06

  This is day 115 going homeless to buy cryptocurrency. Yet I daily a BMW and sleep in a Tesla. This isn't a flex. Both cars need thousands of dollars in repairs and I'm drowning in the negative equity. I would have to pay thousands of dollars to get rid of these cars. I'm not keeping these cars because I want to. I'm keeping them because they're part of my survival strategy. Crypto pumps, I clear my debt, I start a business.

• 4:03Speaker 04

  It's high risk, high reward. I've been following this guy on Instagram for like a few months. He's dedicated to it. He's posting every single day. I actually reached out to him and I said, hey, let me know if you're coming to Vegas. Cause he's living in, I think it was Orange County. I'm like, hey, maybe the taxes in California are a little high. Maybe some other states.

• 4:21Speaker 03

  Park your car somewhere else.

• 4:22Speaker 04

  But he was saying the opportunities he gets in that part of Orange County, the people he networks with is worth it. He's going all in. So like his dedication from a content standpoint and going in cryptocurrency, 10 out of 10. I don't know if it's going to work. But like, he's getting attention from it. And even if crypto fails for him, I think he has a career in social media.

• 4:42Speaker 03

  If I were going to think about how to build wealth, I don't know that that's the way that I would attack it, going all in. That seems like pure speculation. Like I just don't know from a high probability success standpoint. I don't know that that's the one.

• 4:54Brian Preston?

  But chicken or egg? Is his success coming from the content creation and the engagement? Or is it actually from the way he's structuring his business? That's the thing that's so unique in these day and times is that there's people that are trying to use their uniqueness, like living out of the car in Orange County and then doing crypto strategies. That's not a viable, it might, it might be, you know, it could, it could hit. It feels more like this is a content creation strategy and creating a brand.

• 5:21Speaker 04

  He's hedging himself though, because if crypto does well, then he makes a ton of money. And if it doesn't, then he's building his brand. Either way, he's gonna win.

• 5:29Speaker 03

  That's a lot of eggs in that basket though, right? Either crypto has to hit or you gotta make it on social. One of those has to happen.

• 5:36Speaker 04

  Doesn't hit, then he's gonna get more attention on social. And if it does hit, he's gonna get more attention on social. When you look and you see his posting schedule, he is on it. Like he is so dedicated to it.

• 5:46Speaker 03

  All right. How long you been following him for?

• 5:47Speaker 04

  Few months.

• 5:48Speaker 03

  I can't wait to see.

• 5:49Speaker 04

  I don't think he's missed an upload.

• 5:50Brian Preston?

  That's great.

• 5:50Speaker 04

  His consistency, I have to say is admirable. Just from a business perspective like that. Crypto investments, I could go either way. I'm not sure.

• 5:59Speaker 07

  What's going on folks? It's your boy Sebo got me rolling today. I'm on my dog Cam here, approved on the 17 Ford F-450. First time buyer. I was just experiencing today, my man. Sebo always in here. It took a little longer than expected, but I was in and out, you know, he made it happen. A miracle with low credit score, I mean. Got it going. Well, sir. If you're in the market for a vehicle, all you need is your ID, piece of mail, your name. Shoot me a DM, Steve got me rolling. We'll get you rolling off today.

• 6:23Speaker 04

  Is this real?

• 6:24Speaker 03

  Oh, yeah.

• 6:24Brian Preston?

  No, we've been following. You've been following the crypto, live in your car. We've been following Steve because he makes an entire living off of people with bad credit, small down payments, and then financing years upon years on cars that they'll, that are going to depreciate rapidly.

• 6:41Speaker 04

  So this is real.

• 6:42Speaker 03

  It's disgusting. His, his whole thing is no matter where you are financially, he can get you in the car of your dreams. You got, you show up and Steve will get you rolling.

• 6:51Speaker 07

  Steve got me rolling.

• 6:52Speaker 03

  And what you end up with is 84 month car loans with like $100 down and 19% interest rates. And he is selling this over and over and over again to a social following.

• 7:02Speaker 04

  I've seen, I've, I talked to a, a guy who runs a car dealership who say, who does stuff like this.

• 7:07Brian Preston?

  Right.

• 7:08Speaker 04

  And he says the way he structures it, because some of these buyers are very high risk. There's a large percentage of them that can make the first few payments and then they stop. So the way he said he structures it is by making payments due every other week. So that that way they're not going to get like a full month behind on a payment.

• 7:25Speaker 03

  They naturally get ahead just by that cadence.

• 7:26Speaker 04

  Exactly. So if they default, you'll know after the two weeks and it's an easy repossession after that point.

• 7:36Speaker 03

  Imagine if your whole business was set up on this, on the fact that most of your customers are going to fail and fall off. Ah, it draws me nuts because we know in our world, in our view, automobiles can be like napalm to your personal financial wealth. If you're borrowing on a car, you're putting a low down payment, you're financing it over 84 months, you are never going to own that automobile and you're never going to be able to build wealth outside of the car.

• 7:57Brian Preston?

  You don't really, you can't afford the car. I mean, that's one of the reasons we talk about, you know, the 23 eight, when you have to have transportation, but that never applies to luxury vehicles, large expensive vehicles. That's why, I mean, paying $600 a month for the next 84 months, he's not funding his Roth IRA. He's not going to ever have enough capital so he doesn't have to work. And that's the part that saddens me when people drive their wealth instead of actually building something that can work harder than they can with their back. Their head or even their their hands.

• 8:28Speaker 04

  Who's loaning the money though? Cause it has to be a positive ROI.

• 8:31Speaker 03

  You would think so, but again, it might be one of those things that interest rates are so high. So they'll tell you they have like 14, 15, 18% interest rates on these auto loans. And the people end up not sticking with it. So I don't know what the cost associated with a loan close are. But it's not a great deal for the consumer. These people should not be able to get into these vehicles.

• 8:48Speaker 04

  They're probably paying fees upfront.

• 8:49Speaker 03

  Absolutely.

• 8:50Speaker 04

  To get the loans so that even if they repossess the car, they get their money back.

• 8:53Speaker 03

  They're still made money. Yep.

• 8:54Speaker 08

  This is the strategy that people employ. They buy a property, you fix it up, you rent it out and then you refinance it. And say it's now worth a hundred grand more than what you bought it for. You can get a loan for that exact amount, which you then use as a down payment on another property. Rinse and repeat. Do I have that right?

• 9:11Speaker 04

  So let's say the property goes from one to 1.1, they'll give you 70 to 80% of that. That extra a hundred thousand dollars, they give you 70, 80,000 dollars of that. It's just that simple.

• 9:20Speaker 03

  So when it comes to real estate investing, it's just that simple, right? That's all you gotta do. You go buy something for a million and it automatically turns into 1.1. You refinance, cash out, you go buy another one. Anyone can do it. Is that the way that works?

• 9:31Speaker 04

  This unfortunately was cut very short. Like you know, in these clips, this was probably a 10 minute segment where I talked about how to buy a property, add value in terms of remodeling it. Maybe renting it out at a higher rate. If the market's going up, you can refinance a rate. That was filmed in 2020 and the market has completely changed. Like you could look back at my old videos and it was so easy to invest in real estate back then. It was as simple as just be patient, find a right deal, negotiate, here's how you could add value. I mean, it was really rinse and repeat back then. None of those strategies work today.

• 10:05Speaker 03

  And interest rates are an entirely different place than they were then, right? The whole landscape has changed.

• 10:09Speaker 09

  My investment strategy is very simple. Be super liquid, have.

• 10:15Speaker 00

  In deepest jungle, Cartier's panther spies a wandering bird that circles the skies. A lovebird, lost and missing his mate, is far from his pass in lonely state. Dry your tears. Now there's a start. Follow my steps to heal your heart. Panther stalks through the leaves with silent grace. Through the power of scent, she finds the trace. Behold, two lovers reunite in the skies. A most precious thrill sparkling in their eyes. Together forever, they shine each day, bound by the beauty of Cartier.

• 10:59Speaker 10

  I'll admit it, I'm one of those people who gets excited for football season way before the first kickoff. That's why a trip to Total Wine & More has become part of my game day routine. I can get the cooler ready with my favorite beers and ready to drink cocktails. I'm usually picking up enough for everybody, so it's nice knowing I'm scoring the lowest prices. This season, make Total Wine & More part of your game day tradition. Spirits are not sold in Virginia and North Carolina. Drink responsibly. B21.

• 11:28Speaker 09

  Minimal assets that require maintenance. I like three asset classes. One, the hard assets, I like gold and silver. Why? Because I can exchange these things anywhere in the world for a fair price, right? We all can agree that I can move $1,000 of gold anywhere and sell it for $1,000. Same thing can go with, but I can do it in a digital way. Yes, the price fluctuates. Yes, there's a little bit more uncertainty, but I can take $100,000 and move it from here to Lithuania with a hard drive and nobody would ask me a question. If I was to take $100,000 worth of gold bars from here to Lithuania, they would be all over me. So on your cash, US dollar, Swiss franc and Singaporean dollar, banking on those empires. On the digital side, have digital assets that you can move that are liquid and physical gold, physical silver.

• 12:13Speaker 03

  So what were his three asset classes?

• 12:14Brian Preston?

  It was gold, silver and crypto. And then different currencies.

• 12:18Speaker 03

  The currencies, right? It was the bullion, the gold and the silver, and then the crypto, and then the currencies. But those are all, in theory, supposedly supposed to be sort of like cash and cash equivalents or hard commodity goods. I don't know if I was going to build a diversified portfolio. I don't know that those are the ways I would do it because he just said, I can take $1,000 of gold right now and exchange it anywhere in the world for $1,000. Well, only if the spot price of gold stays at that. Exactly where it is right now. If I buy a thousand dollars of gold right now and a year from now, the value of gold goes down, that gold that I bought is no longer worth a thousand dollars. It's worth some amount less than that.

• 12:51Brian Preston?

  I mean, where do you, you walk into it with a gold bar right now in downtown Franklin, Tennessee, where we are.

• 12:57Speaker 03

  Hard to get a cheeseburger.

• 12:57Brian Preston?

  Who's going to go give you the spot price? There's going to be some, I mean, you go to pawn shops, you go to other things and they're all going to have different friction costs. I don't think it's as liquid as he was making, plus the whole custody of it. I mean, if you're walking around with gold bullion.

• 13:11Speaker 04

  But that's where Bitcoin comes in. Then you could just go on your phone.

• 13:14Speaker 03

  Well, you have your hard drive you're walking around with.

• 13:15Brian Preston?

  But that's why it's a comparing, contrasting, walking around with gold bullion or even silver. There's a little more, I will give that to the crypto side because you probably, you can just have it on a drive or something like that.

• 13:26Speaker 04

  This appeals to the doomsday prepper though, where it's like, hey, you might have to go to like New Zealand one day. You might have to do that. So you have your currencies.

• 13:35Speaker 03

  But in the event that you don't have to do that, here's what I did hear him say, hey, I really like buying, you know, solid American companies via low cost index fund in the S and P 500.

• 13:43Speaker 04

  That's not exciting.

• 13:44Speaker 03

  Right? You know what I mean? Like that's, that's even talk about that sort of thing.

• 13:48Speaker 04

  This is the same guy who says that like drinking tap water is like lowering testosterone. Red number 40 is like ruining everything.

• 13:55Speaker 03

  Got to stay away from all of it. Yeah, got it.

• 13:57Speaker 04

  So it's Luke Bellmeyer. Like I wouldn't expect anything different from him.

• 14:00Speaker 03

  So it's on, on brand for what he's saying.

• 14:02Speaker 04

  It's marketing. But again, it's like, that's the 5% who see this, they're like, oh yeah.

• 14:05Speaker 03

  When you think about general audience out there, financial advice you're going to take, be careful taking advice from folks who are speaking to 5% of the population, right? Because the advice that they're giving may not be the advice that actually makes the most sense for you.

• 14:16Brian Preston?

  I, I feel like I'm learning more than anybody else probably in the audience and the fact that I feel like this whole game of education has been our motive and, and, and operation of why we create content. Graham is educating me that maybe we have missed the boat on this. We should be pushing this in a completely different way.

• 14:33Speaker 04

  It just depends on what your goal is. If, if it's reach and views, everyone that's on here is, is doing that because their goal is to maximize viewership. If you maximize impact, you're going to take a different approach. But you could also argue that the more reach you have, the more impact you're going to have.

• 14:49Speaker 03

  So long as you're sharing good stuff.

• 14:51Speaker 04

  Right, or you get fewer views and there's people who watch you really enjoy your content.

• 14:56Speaker 03

  Yeah.

• 14:56Speaker 11

  You want me to be happy with the measly 12% on average return when I need to come up now. I need to come up now. Look at these returns. If I, if I was dumb and I invested in VTSAX, I get 12%. But look, if 10 years ago, I go all in on the real stuff that makes the return. All I do is I hold Fang plus Nvidia, Meta, Amazon, Apple, Netflix, Google and Nvidia. I would have gone up 713%, 873%, 633%, 1,268%. JL, had I put my $3,000 into Nvidia, I would have gone up 26,209% in 10 years.

• 15:37Speaker 12

  That's amazing. And if you had wings, you could fly.

• 15:40Speaker 04

  Yeah.

• 15:41Speaker 12

  So what crystal ball did you have 10 years ago that told you that?

• 15:44Speaker 11

  I don't, I just.

• 15:46Speaker 12

  Oh, oh, oh, oh, I don't have one? Oh, oh, oh, well, yeah, obviously, if you knew that was going to happen. If I knew that Bitcoin was going to go from a penny, a coin to $100,000, I would have sold everything.

• 16:02Speaker 03

  Everything.

• 16:03Speaker 12

  And gone into Bitcoin. The thing is, you don't know that's going to happen. And there's a lot of stocks that looked every bit as promising as those that you put up 10 years ago that flamed out and went to nothing. You would have wound up broke. You don't know which horse is going to win, but I do know that VTSAX will reliably make me wealthy. And 12% a year compounded over time, 8% a year, let's be much more conservative. Compounded over time is an extraordinarily powerful thing.

• 16:32Speaker 04

  That guy's awesome. I love that. Right? That took a different turn, right?

• 16:36Brian Preston?

  Jerryl Collins, by the way.

• 16:37Speaker 03

  That's awesome. It's about high probability. Do you have a high probability of picking the next Nvidia or Amazon or Google? Not likely, because like we said, we don't know what the future is going to hold. But we do know over the last 50, 60, 70 years, a well diversified basket of large US American companies has done really, really well. So I like when it comes to investing, I like betting on the side of probability.

• 16:58Brian Preston?

  Can I, old man perspective here? I have like Apple. I was the guy with a group of friends. We bought a chunk of Apple during the great recession. And I talked about this at Millionaire Mission. My buddy, one of them, still owns all that Apple. And I'm telling you, about a $5,000 to $10,000 investment is worth close to half a million dollars now.

• 17:16Speaker 03

  Hundreds of thousands of dollars.

• 17:17Brian Preston?

  Took my $5,000 to $10,000, but as soon as it turned to 15,000 to 20,000, I was like, can you believe I turned $5,000 to $10,000 into this 20,000? I sold to go diversify. That's the thing, even if you win, you lose because most people who buy these, these horses that do so well, these stocks that do so well, the moon shots, you're going to sell it before it reaches the 10,000% return. It's just human behavior. You'll, you'll, you'll start getting antsy, you'll get nervous. It'll be like you, you brought this stock to your Thanksgiving dinner because you're just so emotionally vested with it.

• 17:52Speaker 13

  Dear Lord. Steve Jobs. Or as our brothers to the south call you. Steve Jobs. We thank you so much for this bountiful harvest.

• 18:00Brian Preston?

  So that's why I tell you, be careful because I've also seen people where they, they bought these stocks, they, they sold it too soon. And now they just kick themselves every time they, they see the stock keep going up. Nvidia, I have friends that still, three years ago, asked me about this stock they didn't bought, and now they're like, do you know how much I'd be worth? That's why I don't even play those games. I think that they're not healthy.

• 18:24Speaker 04

  Oh, I beat myself up over that all the time. I look at the stock that I sold and it's worth this now. And I think, oh, that could have been, I'm bad at that. I do that all the time.

• 18:34Speaker 03

  That's the problem with individual stock investing is you've got to get two decisions really, really right. I gotta buy it at the right time and I gotta sell it at the right time. If I get either one of those slightly wrong, I'm going to live in the world of what it could have, should have.

• 18:44Speaker 04

  What's the worst financial decision you see 20, 30 year olds make? Not setting up a Roth IRA. You could be a millionaire from this and it's incredibly easy. It's a retirement account. And by the time you're 65, all that profit you make within the account is tax free. But the goal is that when you're young and doing that, you have 40 years of compound interest where all of a sudden that $800 you invest could be worth 8,000.

• 19:05Speaker 03

  Yeah. So you would say the number one mistake that you see people make is not doing a Roth IRA, not just getting something working for them early on.

• 19:12Speaker 04

  Yeah, that's like the easiest low lift thing you could do because it takes you five minutes to set up.

• 19:17Speaker 03

  Yep.

• 19:17Speaker 04

  You could contribute anything you have into it. And most people like in their. Late teens, early twenties, they're below the income threshold anyway. Most people just are below. So you may as well, it's like, the way I see it, it's a free opportunity.

• 19:29Speaker 03

  That's right.

• 19:29Speaker 04

  Free money they're giving you. So you may as well just take advantage of it. If you don't, you're leaving out hundreds of thousands of dollars.

• 19:35Brian Preston?

  Now, I have to ask you, you have a successful platform, viral videos. That was a 95% answer, meaning that was, I consider it educational. Hits everybody. Cause we've had quite a few videos we've reacted to that where you kept calling them 5% answers. You gave a 95. I think that's commendable, but it's just interesting to me.

• 19:54Speaker 04

  I did, when you look at my early videos, talking about a Roth IRA. My video that got like a few hundred thousand views when I first started my channel was how to be a tax-free millionaire.

• 20:03Speaker 03

  I love that, that's great.

• 20:04Speaker 04

  That was like, that was the 5% is like, how do I be a millionaire tax-free? Oh, it's with a Roth IRA. So don't lead with a Roth IRA. I lead with, hey, do you want a million dollars? Let me show you how, exactly how you could do it. With like, you know, 90% probability, if you stick with these things, it will happen. Barring, you know, a massive collapse. I mean, we have no idea.

• 20:25Speaker 03

  What I love is you said that when I first started doing these YouTube videos and early started out, my answer was Roth IRA. And it sounds like still today, even now, you'd say that's one of the best things for young people to go out there and do. Open a Roth IRA and get something in it and something working for you.

• 20:37Speaker 04

  From an investment standpoint, yes. And then outside of that, like sales, I think people are sleeping on like sales careers.

• 20:44Speaker 03

  Love it.

• 20:44Speaker 04

  And the trades.

• 20:47Speaker 14

  Kieran. Yeah, it is. Christian from B O T V. Nice to meet you. How are you? Good, thank you. How are you? I'm all right. Your family's kept a bit of a secret from you.

• 20:58Speaker 14

  I've got something parked down the road for you.

• 21:01Speaker 14

  You've just won a V8 Defender for 18p.

• 21:06Speaker 14

  Don't know what to say, I'm starstruck. So this technically would be your first car, would it? Indeed, yeah. Yeah, that's an interesting first car to have, that's for sure. We start it, foot on the brake. Which one's that?

• 21:19Speaker 14

  Nearly 85 grands worth of. Wow. Motor. And you've got your provisional licence. And you didn't know which one was the brake, so we're off to a good start. Will you take the cash alternative or do you think you'll take the car?

• 21:34Speaker 14

  Car. Your family's like, car, take the car.

• 21:37Brian Preston?

  Can I ask you a question? Let's all be honest, 18 year old versions of ourselves. Do we take the cash or do we take the car?

• 21:43Speaker 03

  18 me, I'm probably taking the car.

• 21:45Brian Preston?

  Yeah. Graham?

• 21:46Speaker 04

  I, I might take the cash.

• 21:48Speaker 03

  Really?

• 21:48Brian Preston?

  I would like.

• 21:49Speaker 03

  85 grand over the car.

• 21:51Brian Preston?

  I mean, I was the guy driving the thousand dollar car with $2,000 worth of subwoofers. So I'm, I'm worried 18 year old me would have taken the car. But now with wisdom, that is a mistake.

• 22:03Brian Preston?

  Go get a much more modest vehicle and then invest that money. It'd be an incredible opportunity.

• 22:08Speaker 04

  At least in the United States, when you receive something like that, you have to pay tax as though it's income. So I don't know if they're covering the tax or not, or what the law is in the UK. But he might have a pretty big tax bill and then he's going to have to take the cash equivalent at some point.

• 22:22Speaker 03

  Even from a behavioral standpoint, not even factoring into taxes. If you start out and you're 15, 16 years old and that's your very first car.

• 22:29Brian Preston?

  Where do you go?

• 22:30Speaker 03

  Where do you go from there? What happens when that car is time to replace a new one? Do you, do you go back to the Corolla then? Right? Like the, ah, that's one of my biggest gripes that I see with wealthy folks or folks who've had any sort of financial success. They'll go buy their kids really nice luxury automobiles. And I think in my opinion, they're setting them up way too early with something way too nice. It's going to create a very difficult to sustain lifestyle over the long term. I don't think they're doing them any favors. I don't think they're doing that guy any favors setting him up in that car.

• 22:57Speaker 04

  I would agree.

• 22:58Brian Preston?

  So Graham, this has been an absolute pleasure having you here. This is kind of fun, isn't it?

• 23:02Speaker 04

  I really, I thought this went by too fast. I think we needed to.

• 23:05Brian Preston?

  That's what.

• 23:05Speaker 04

  We don't want the episode to be an hour.

• 23:06Brian Preston?

  When you came in town, we like, we promise this will be really quick. This won't take long at all.

• 23:10Speaker 04

  This should be longer.

• 23:13Brian Preston?

  But if anybody, just in case, I think it's almost laughable to say this. If they don't know who you are or where to get more info on you, where can they go check you out?

• 23:20Speaker 04

  If they want to check out the channel, uh, honestly, at this point, Iced Coffee Hour. Like I would recommend the podcast and you guys are going to be on. Maybe by the time this posts, our podcast will have gone live. So I would just recommend the Iced Coffee Hour podcast.

• 23:34Brian Preston?

  Guys, we love creating this type of content. And by the way, we're trying to create both the 95 and the five, giving you the best of all worlds. So you can maximize every dollar that comes into your army of dollar bills. I'm your host, Brian Preston, Mr. Bo Hanson, Graham Stephan, Money Guy team.

• 23:51Speaker 03

  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 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.

• 24:23Speaker 15

  Welcome to the 50th Hunger Games.

• 24:25Speaker 16

  Witness the beginning of the revolution.

• 24:28Speaker 15

  Hey Mitch, you've been trying to take down these games from Star.

• 24:30Speaker 16

  Film for IMAX.

• 24:32Speaker 15

  Make them remember you.

• 24:35Speaker 16

  The Hunger Games: Sunrise on the Reaping, November 20th, rated P13.

• 24:39Speaker 17

  Hey, listen. Power up your play with Nintendo Switch 2 and experience Link's legendary adventure, now reborn in vibrant detail on our fastest and most powerful system yet. And harness the power of the Ocarina with the built-in microphone.

• 25:01Speaker 17

  The Legend of Zelda: Ocarina of Time, a Nintendo Switch 2 exclusive. Game and system sold separately. Game rated everyone 10 and up.