I’m Losing 50% of My Income - What Now?

Summary

Money Guy Show: "I’m Losing 50% of My Income - What Now?"

Release Date: December 16, 2024
Hosts: Brian Preston and Bo Hanson
Guests: Megan (Senior Content Developer)
Episode Theme: Navigating a sudden 50% reduction in income and transitioning to a commission-based role.

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Introduction

In the December 16, 2024 episode of the Money Guy Show, hosts Brian Preston and Bo Hanson delve into a pressing financial concern: coping with a significant income reduction. Titled "I’m Losing 50% of My Income - What Now?", the episode offers actionable strategies for listeners facing abrupt financial changes, particularly those considering a shift from salaried positions to commission-based roles. The discussion is enriched with real-life insights, practical advice, and engaging interactions, including a heartwarming segment celebrating Brian's birthday.

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Main Topic: Transitioning from a Salary to a Commission-Based Job

Listener Question from Zach R. ([01:18])

Zach R. posed a critical question: "How would a potential job change from a secure salary job to a commission-based role? The new role would have a 50% cut in base pay, but essentially unlimited upside potential. What do y'all think?"

Bo Hanson's Perspective

Bo Hanson addresses the inherent risk-reward dynamics of such a transition:

"[Bo Hanson, 01:47] So, Zach, this is an interesting one because so obviously it sounds like there's a risk reward thing going on here. Right now I have a salary job where it's consistent and I can count on and know what's happening. Or I can move to a commission-based job where it's going to be a little more variable, a little more volatile. Nothing is guaranteed, but the upside is huge."

Bo emphasizes the importance of realistic assessment:

"Is this realistically an option I think that I will be successful doing... If I pursue this commission job, is it something where I think I actually have some success?" ([02:30])

He underscores the necessity of evaluating personal skills and the feasibility of succeeding without a robust business network:

"If you are someone like us who came from humble beginnings... there’s a really good chance I would not have been successful in that environment." ([02:55])

Brian Preston's Insights

Brian Preston complements Bo’s advice by focusing on strategic planning:

"I would love to know the timeline for success... put on your 3D glasses... don't just assume because it's in the brochure." ([03:41])

Brian advises listeners to develop a detailed transition plan, considering both optimistic and pessimistic scenarios, and to build a financial cushion:

"How do you bridge the time... start building up cash ASAP so that you actually can have the money, the flexibility so you don't stress out loved ones." ([06:10])

He uses a treasure-digging analogy to illustrate the necessity of sufficient resources:

"The digging for the treasure is... eight feet deep but you only have enough cash or power energy to get six feet." ([06:35])

Practical Steps for Transition

1. Assess Success Potential:
   • Determine if you possess the skills and network to thrive in a commission-based role.
2. Detailed Planning:
   • Understand the timeline for achieving financial stability in the new role.
   • Develop both optimistic and worst-case financial scenarios.
3. Aggressively Cut Expenses:
   • Immediately reduce living costs to accommodate the decreased income.
   • Avoid spreading out cuts; make substantial changes promptly to stabilize finances.
4. Build Financial Reserves:
   • Prioritize saving to create a buffer that alleviates stress during the transition period.

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Personal Segment: Celebrating Brian's Birthday

Mid-episode, the hosts take a moment to celebrate Brian Preston’s birthday, adding a lighthearted and personal touch to the show. Bo Hanson and Megan surprise Brian with humorous gifts, including Mickey Mouse-themed items and a piñata, fostering a sense of camaraderie and relatability.

Brian Preston shares the backstory of the surprise:

"I had to pull over. I had to go buy my own sticker... I want to apologize, by the way." ([07:36])

This segment not only entertains but also strengthens the connection between the hosts and their audience, illustrating the supportive and friendly dynamic of the show.

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Secondary Topic: Understanding Step Seven of the Financial Order of Operations (FOO)

Listener Question from Clinton M. ([15:33])

Clinton M. asks: "Can y'all go over step seven of the foo? I am 33 and completed step six. I make 52,000 a year with a net worth of $275,000. I'm starting my HSA in 2025. How do I know when step seven is complete?"

Bo Hanson Explains Step Seven

Bo Hanson introduces the Financial Order of Operations (FOO), a nine-step process designed to guide financial decision-making:

"Step seven is called hyper accumulation... it's the bridge between step six and step eight." ([16:41])

He highlights that step seven focuses on maximizing savings and utilizing tax-advantaged accounts tailored to individual goals, such as early retirement or investment in a vacation property.

Brian Preston's Detailed Breakdown

Brian Preston elaborates on the transition from foundational financial steps (1-6) to hyper accumulation:

"Steps one through six are really mechanical... They are trying to protect you from making desperate decisions." ([17:10])

"Step seven lets us... customize it so you live your best life." ([18:54])

Brian emphasizes that step seven involves strategic allocation of assets across after-tax, tax-deferred, and tax-free accounts, ensuring that financial growth aligns with personal aspirations.

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Promotion: Financial Order of Operations Course

The hosts promote their Financial Order of Operations course, now available at a discounted rate of $49 for Black Friday, extended until the end of the year. This course provides in-depth guidance on advanced financial planning, particularly beneficial for those entering or completing step seven.

Brian Preston connects the course to their broader suite of financial tools, emphasizing their commitment to accessibility and value:

"We want to keep paying it forward... more generous we are, the more generous you guys are back." ([20:25])

Bo Hanson encourages listeners to consider the course as a perfect holiday gift for those beginning their financial journeys:

"Financial Order of Operations course is a fantastic place to start... especially for newlyweds, new college graduates." ([22:05])

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Conclusion

In this episode, Brian Preston and Bo Hanson adeptly address the challenges of a sudden income reduction and the considerations involved in transitioning to a commission-based role. Through practical advice, personal anecdotes, and the introduction of valuable resources like the Financial Order of Operations course, they empower listeners to navigate financial uncertainties with confidence. The episode’s blend of strategic insight and personable interactions makes it a valuable resource for anyone facing similar financial dilemmas.

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Notable Quotes with Timestamps

• Brian Preston ([03:41]): "I would love to know the timeline for success... don't skip on the worst of the worst."

• Bo Hanson ([06:10]): "If you can make the very base minimum 50% work, then if you do have success in the commission-based role and you are able to get back to your old income, all that's gravy at that point."

• Brian Preston ([06:35]): "The digging for the treasure is, it's eight feet deep but you only have enough cash or power energy to essentially get six feet."

• Bo Hanson ([14:22]): "What would you do if we told you we filled it full of money? There's nothing but just stacks of cash in there so that when it breaks open, it just rains down."

• Brian Preston ([20:25]): "When we ever create a new tool, a new course, it's more for the accelerating on the path because we know ultimately we think if you get successful enough complications going to find you."

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Additional Resources Mentioned

• Financial Order of Operations Course: Available at learn.moneyguy.com for $49 until the end of the year.
• Financial Order of Operations Book: "Millionaire Mission" available on Amazon under $20.

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The Money Guy Show is a production of Abound Wealth Management, a registered investment advisory firm regulated by the SEC. All financial advice provided is for informational purposes only and does not constitute personalized investment, tax, or legal advice.

Transcript

[Brian Preston]

Four Essential Tips to a Perfecto Retirement. Come on, keep it together. This is a live show.

[Bo Hanson]

Sure is. Oh, my gosh. That's right. We do have a show coming up for you in the next couple weeks called Four Essential Tips for a Perfect Retirement.

[Brian Preston]

That's not what we're doing right now.

[Bo Hanson]

That's not what we're gonna talk about right now, though. Right now we love.

[Brian Preston]

Hey, it's been a week. I took a Thanksgiving break right now.

[Bo Hanson]

We love that Every Tuesday at 10am we get to answer your questions. We love that we can load you up with the things that you care the most about. And we have some interesting ones right now because we know that life can throw all kinds of curve balls at us, just like Brian just threw at all of us. So we want to make sure that we load you up. So if you have a question that you want us to weigh in on right now, get it in the chat. We have the team out in the wings collecting your questions. With that, I'm gonna throw it over to someone new with us today. We have.

[Brian Preston]

Not new to us.

[Bo Hanson]

Not new to us.

[Brian Preston]

New to you, to the audience visually.

[Bo Hanson]

Our Senior content developer, Ms. Megan.

[Megan]

Good morning. All right, we're gonna start it off with a question from Zach R. He says, how would a potential job change from a secure salary job to a commission based role? The new role would have a 50% cut in base pay, but essentially unlimited upside potential. What do y'all think?

[Bo Hanson]

So, Zach, this is an interesting one because so obviously it sounds like there's a risk reward thing going on here. Right now I have a salary job where it's consistent and I can count on and know what's happening. Or I can move to a commission based job where it's going to be a little more variable, a little more volatile. Nothing is guaranteed, but the upside is huge. And so obviously one of the things that we do, I think this is natural human nature, is we begin to daydream about all the wonderful things. Holy cow. Unlimited upside. I can make so much money. I can achieve all my financial goals. I can do all of the things that I want to do. And while that may be true, I think some reality has to be thrown in that that may not be what it looks like immediately out of the gate. So you're asking, how should I think about this? What are some things I should do? The first thing that I would think through if I were facing this opportunity is, is this realistically an option I think that I will be successful doing, meaning if I pursue this commission job, is it something where I think I actually have some success? This is not uncommon for us Brian. In the financial world. A lot financial advisors out there are paid on commission. The way that they're able to generate income for themselves is by selling products or going and attracting assets or something like that. Well, if you happen to be someone like us who came from humble beginnings and did not have wealthy friends or wealthy family, the ability to go out there and drum up business from your social network might not be there. So had I me personally pursued that type of vocation, there's a really good chance I would not have been successful in that environment. So Zach, I think one of the things you have to figure out from the jump is is it realistic that I can be successful in this commission based job? Is there some reason I believe that I'll be able to do that? What are some other things, Brian, you think, Zach?

[Brian Preston]

Well, I mean we're on the same trunk of the tree. Is that I was. I immediately wrote down I would love to know the timeline for success, meaning that go ahead and measure twice, cut once, and don't forget to put on your 3D glasses. So you don't just assume because it's in the brochure. Everybody tells you upside is unlimited, but the reality is it's going to take some time to develop any type of good paying job. It requires talent, it requires time. There's other things that go into that success moment. So put your 3D glasses on, meaning the down to earth plan of how long you think it will take, the dream plan that they probably presented to you and the pitch on what your opportunities were. And don't skip on the worst of the worst, which is the doo doo plan on if it takes you a lot longer. So then you can move on to step two, which is how do you bridge the time. And I would base it off of somewhere between the doo doo plan and what you really think is the down to earth plan and really start building up cash ASAP so that you actually can have the money, the flexibility so you don't stress out loved ones so you actually give this the best opportunity. As you're trying to figure out how do I come up with that cash that moves on to number three. Here's what I know about planning, research, making huge life changes. There's a lot of research into happiness and this ties into the hedonic treadmill and other things. And what they found out in research is that when you have good things you should spread them out as much as Possible meaning that if you win the lottery or come into a windfall, don't go buy a brand new car, don't go buy a brand new house, don't go buy all this stuff all at once. Because you just don't give yourself enough time to process the happiness.

[Bo Hanson]

You don't actually enjoy it.

[Brian Preston]

However, when you have rough stuff happen to you in life or you have to make drastic decisions to change lifestyle to get back to your base level of happiness as fast as possible, you should cut savagely on expenses and other things all at once. Don't spread it out. So if you figure out, hey, to make this timeline successful, to make this cut and pay 50%, don't just say, well I'll cut a little bit this month, I'll change this, I'll sell this car this month, you know, maybe I'll downsize into my house a year from now. No, do it all at once. Give yourself the best chance of having success, but also bringing yourself back to that baseline of happiness as fast as possible. Make the hard decisions all at once so you can actually give yourself an opportunity to make this work.

[Bo Hanson]

If at all possible, you would say, maybe even figure out how to make the lifestyle work on just that 50% of pay.

[Brian Preston]

Right?

[Bo Hanson]

Like if you can make the very base minimum 50% work, then if you do have success in the commission based role and you are able to get back to your old income, all that's gravy at that point, right? I love that. I love cutting down as much as you can on those variable expenses and then probably control your fixed expenses. You probably shouldn't go also buy the new house, buy the new car, lock in a bunch of fixed expenses while you're going through this.

[Brian Preston]

Well, I think it's anything that's hard that has a success moment. It's kind of like digging for treasure in the way that you've got this opportunity. As you even said, it's unlimited potential. But what if that the, the digging for the treasure is, it's eight feet deep but you only have enough cash or pow energy to. Essentially I'm using cash as the equivalent of energy to get you six feet. You'd be pretty sad that you did, you know, 80% of the work and you didn't give yourself the opportunity to actually reach the level of success. So make. That's why having margin, it's much easier to cut savagely now so that you can give yourself the best chance of opportunity and success. So maybe you have where you could dig 10ft down to reach your goal. And then when you go back up, it's much easier to go back up and spend and plan for the worst and then get the best later.

[Bo Hanson]

Love it.

[Megan]

Great. Well, Zach, thank you so much for your question. Hopefully you find that helpful. And today is a Tumblr day.

[Bo Hanson]

Tumblr day.

[Megan]

So if you would like a winner winner, you can email winner. W I N N E R moneyguy.

[Bo Hanson]

I love it. I love it.

[Brian Preston]

You did. That's a. That's a teacher background.

[Bo Hanson]

Meg, you know what's super interesting?

[Megan]

Yeah.

[Bo Hanson]

I don't know if you guys noticed this. Brian, you got a sticker over there on your balloons. On your chest. You got balloons.

[Brian Preston]

You know, it was weird that I had to pull over. I had to go buy my own sticker. I had to buy these balloons because I wanted to make sure everybody celebrated my birthday, which y'all know you didn't want it to. Slow down. That is I walk in this morning, first of all, I still don't know if you were in on it or if it was just our normal routine. I'm in there talking to Bo and Carter and then. And I'm like, bo, we are eight minutes late to the content meeting and we go into the content room and essentially there's chicken mini biscuits, there's platter of fruit, there's stickers, there's balloons. I'm like, you guys, I mean, it's pretty cool. And I want to apologize, by the way. You got a little prime time look into a future show. When Bo asked me, he's like, hey, do you know what you're going to say to kick off the show today? I was like, oh yeah, easy peasy or something like that. I made some smart alecky comment. I catch it now because I'm supposed to go with a different intro than the show we're recording. So there you go. I'll blame it on my birthday.

[Bo Hanson]

I love it. I love it, love it. Well, so I just.

[Brian Preston]

But I want everybody like, why are they laughing? Why is everybody laughing at Brian's intro? It's cuz Brian screwed it up the wrong show. But that's right.

[Bo Hanson]

You know what? It's your birthday. You can do whatever you want to do.

[Brian Preston]

You sound just like two chains.

[Bo Hanson]

Well, okay, I'll take it, I'll take it.

[Brian Preston]

But Bo and two chains, the surprises.

[Bo Hanson]

Don'T just start with that intro. So one of the questions I have.

[Brian Preston]

For you, bro, Y'all see my free coffee that got delivered to you?

[Bo Hanson]

You had a free coffee?

[Brian Preston]

We are Maximizing this birthday moment.

[Bo Hanson]

I love it. You know, you just came through year 50.

[Brian Preston]

That doesn't taste like half sweetness. I put it in there, but it stays like whole sweetness.

[Bo Hanson]

You just came through your 50th year. And as you go into this 54th.

[Brian Preston]

Year, why are we giving ages?

[Bo Hanson]

I'm just saying. Here's what I think would be interesting. I would love. I'm going to step out for a moment. I'd love for you to reflect just for a moment on what are some great things that happened over this past year and what are you excited for as we go into this next year?

[Brian Preston]

Well, here's the thing. If you're going to go into a key landmark birthday that's already going to press you, here's a good opportunity for you is go ahead and write a book. So that way you can celebrate, you can have good things happen.

[Bo Hanson]

Where did he go?

[Brian Preston]

What is this? What are you doing? Okay, this is bad. This is called dead air.

[Bo Hanson]

You're supposed to be talking to them, not.

[Brian Preston]

No, but then you get up and leave in the middle of the show. But I wrote a book, if you didn't know. By the way, Amazon, let me tell you something about Amazon. They do a lightning type deal where every day I'm going on there and I go, are we going to hit 100%? Because they're acting like they're only selling a limited quantity of these things for right at $19. And then we get right to 100%. And then you know what they do? They keep the price at that now, I guess it sold so well at the new price. The new price. So now if you have not picked up Millionaire Mission to celebrate my birthday, I would encourage you go check it out. It's under 20 bucks on Amazon and elsewhere. I'm sure others are matching that price. And I still love reading the comments. There was one yesterday.

[Bo Hanson]

What a great birthday gift that would be for Brian for you go out and buy the book if you've not or you know what, it's great for that. I'm thinking this time of year, then I'm actually gonna do this for some people in my life. It's a wonderful stocking stuffer. You buy it and you give it to some of your college high school ages.

[Brian Preston]

Girthy stocking to fit that in there. Do you not?

[Bo Hanson]

Oh, Hanson household has huge stockings. Are y'all a small stocking household?

[Brian Preston]

Yes. Yeah.

[Bo Hanson]

So we as a content team wanted to get you a gift, some gifts and we thought we'd share it with all of our favorite people here. So we were trying to figure out, what do you get the guy that has everything? And you've been dropping hints. One of these presents in here is from me, and the rest is from the content team of something I know that you've really wanted and you've said it over and over and over again. And I feel like all of our audience knows this as well. So we would love for you to open our gift to you, Mr. Money Guy, Brian preston.

[Brian Preston]

What in the world could y'all bought me?

[Bo Hanson]

I don't know. You probably ought to open it up and see.

[Brian Preston]

You probably should have called my wife and then let her give it to me for Christmas Since I'm the hardest person in the world to shop for.

[Bo Hanson]

All right, so that's a blindfold. We are. We are going to have Brian.

[Brian Preston]

Matt's is our built in in office pinata hitter.

[Bo Hanson]

That was his gift to you. So if you would like to later today. See, Brian.

[Brian Preston]

No, we're hitting pinata.

[Bo Hanson]

You need to go. Make sure you follow us on socials. We might just be putting it out there on instagram, twitter, facebook, TikTok.

[Brian Preston]

All this sounds like more of a gift for you than it does for me. And what I see, I see Mickey mouse ears. What are these?

[Bo Hanson]

Oh, look at that.

[Brian Preston]

Oh, my goodness.

[Bo Hanson]

Look at that.

[Brian Preston]

Now you know I can't mess. Oh, my gosh. It's down on the grass. Wait a minute.

[Bo Hanson]

Is this.

[Brian Preston]

I see a pinata. I'm not beating up Mickey mouse.

[Bo Hanson]

Well, not right now. Keep going. You gotta keep opening the presents.

[Brian Preston]

This is gonna mess up.

[Bo Hanson]

You don't have to put it on. It's just something for that way, when you're at the theme parks, you now, now you have something that you can wear at the theme parks, and that way everyone will know. So if you are at one of the theme parks, you see Brian wearing a sad.

[Brian Preston]

I think you bought me a kid socks. Based upon Matt's reaction over there, you should have whipped that camera out really quick because I don't know. That one's fitting over my noggin again.

[Bo Hanson]

All right, so we got a blindfold, we got a pinata. We have the Mickey mouse ears.

[Brian Preston]

Oh, geez.

[Bo Hanson]

And this is the one for me, Brian. This is the one. I know you've wanted this more than anything else you've wanted over the past couple months, and I'm just so glad that I was able to deliver you this thing that you have been asking for you've been commenting on.

[Brian Preston]

I feel like this Is foreshadowing. We had an event yesterday where he had to put name tags on. And everybody knows I chew on my fingernails, so I have zero ability to separate.

[Bo Hanson]

Why don't you just hold it up for our audience?

[Brian Preston]

They can see that's not the real look.

[Bo Hanson]

Okay, all right.

[Brian Preston]

I mean, look, if we're gonna do this, we're going whole hog on it, so you must have bought the cheapest version. Look, it's already falling apart.

[Bo Hanson]

Well, in true money guy fashion, we weren't gonna.

[Brian Preston]

We're saving a few bucks we weren't.

[Bo Hanson]

Gonna spend a mint on. Do you know what the value of.

[Brian Preston]

Spend 25 bucks on Amazon to get this thing deliver?

[Bo Hanson]

You know what that could turn into by.

[Brian Preston]

Or was this why Nick was at Party City? Is this why Nick was at Party City? Y'all sent poor Nick to. That's not coming off.

[Bo Hanson]

I think you should just hold it up so everyone can see. We got Brian his very own mustache so that he would not feel left out.

[Brian Preston]

Let's make it. I gotta make it like bows. There we go. Turn that frown upside down. Oh, my God, it's already going in my mouth.

[Bo Hanson]

That's fantastic. So now you also have a mustache, Brian, so we can be part of the mustache crew.

[Brian Preston]

But seriously, why did we do a pinata as Mickey Mouse?

[Bo Hanson]

Because we know that you love Mickey. We know that you love.

[Brian Preston]

Well, you don't beat on something that you love, though.

[Bo Hanson]

All right, maybe we'll just hang it. Maybe we'll just hang it in your aisle. Maybe we'll hang it in the studio. So when you come to do your.

[Brian Preston]

Studio tour, you want others to beat on Mickey Mouse?

[Bo Hanson]

You can see the Mickey Mouse pinata. What would you do if we told you we filled it full of money? There's nothing but just stacks of cash in there so that when it breaks open, it just rains down. Pretty awesome, right?

[Brian Preston]

I don't know. Mickey's pretty priceless.

[Bo Hanson]

Brian, we are so happy that it's your birthday. We are so happy to celebrate you. And we're so happy that he chose to be here. Do you realize that he could have been anywhere else in the world today celebrating his birthday, and he chose to be here with you guys and with us. And for that, we are so, so thankful.

[Brian Preston]

Thank you. I had no idea any of this was gonna happen. You can tell. I show up today, and you guys are just. I can't wait. What else are y'all gonna do for me today?

[Bo Hanson]

Oh, just wait.

[Megan]

Just wait and see.

[Brian Preston]

Just wait. Goodness gracious.

[Bo Hanson]

All right, Megan, you wanna keep answering some questions? You want to do some more of those?

[Megan]

I would love to. All right, we have got a question from Clinton M. He says, can y'all go over step seven of the foo? I am 33 and completed step six. I make 52,000 a year with a net worth of $275,000.

[Bo Hanson]

Wow.

[Megan]

I'm starting my HSA in 2025. How do I know when step seven is complete? Thanks, money guys.

[Bo Hanson]

I love it. So for those of you who are new or have not interacted with our content a ton, we have a nine step, tried and true process. Brian, can you hold it up for us? It's called the financial order of operations and it walks you through exactly what to do with your next dollar. If you want your free copy, you can go to moneyguy.com resources and download yours. Well, what Clint is asking about is as you get into step seven, that step is called hyper accumulation. It's after you've maxed out all of your employer retirement plans inside of step six. And Brian, we get a lot of questions about step seven. It's something you wrote a lot about inside of your book Millionaire Mission. So what would you say to Clinton? How would you break down? How does one think about step seven? And why is that kind of the bridge between step six and step eight?

[Brian Preston]

Yeah, if you think about it, steps one through six are really mechanical in the fact that they're trying to protect you from making desperate decisions by not having enough cash that you can see yourself in a pickle of a situation, an emergency. Are these things that just are too good to pass up, like step two with the employer match the 50% or 100% guaranteed rate of return. Then the other thing is paying off high interest debt. You're never going to get ahead if you're paying twice as much as what you hope to earn. And then the rest is just leveraging those tax benefits and getting to the good discipline behavior of trying to save and invest 25% of your income. Imagine as you get into step seven, hyper accumulation. People are like, what is it that's beyond 25% savings rate is really what that means for some people. That means you're going to max out to the full amount of what the government allows you to do in step six. For others, it just means you reach 25%. You got step seven. But what I like, and Bo's right, I did detail a lot of this in really detail, and I'm very proud of the most improved chapter of the book, when I was going through edits was chapter seven is because it's the step that actually lets you think about how you're actually going to use the money. Because this is kind of one of those first steps into not mechanically what you need to do to maximize and optimize your money, but actually how are you going to use it? What's going to, how are you, are you an early retiree? Are you going to be somebody who's buying a vacation property in the future? Are you somebody who is, you know, really got a lot of goals that are different than your peers and relatives and those around you. So you need to plan a little, you know, differently. That's what step seven is because it's going to now focus on the account structure between the after tax accounts, the tax deferred accounts, the tax free accounts, and really let you start planning for how the use of those assets will intersect with the structure of those accounts. And I think that's kind of unique because a lot of places they just don't give you enough credit that you're sophisticated enough that you should make a custom plan for yourself that you cannot create a one size fits all plan. And I love how step seven kind of lets us with a seven step process, I mean a nine step process, get into step seven and actually customize it so you live your best life.

[Bo Hanson]

You know, one of the things that is really, really unique is we recognize that some of this stuff can be nuanced. And you may know the steps, but you may not know like the intricate details of the steps. It's why we developed the financial order of operations course. You can go out to learn.moneyguy.com to get your hands on the course. And one thing that we have recently done that we have never done before is for Black Friday, we discounted it all the way down. What was the price on it?

[Brian Preston]

250?

[Bo Hanson]

Well, we discounted it all the way down to $49. It's a discount that we had never done before. And the feedback from you guys was unbelievable. Hey, thank you, thank you, thank you. I've been wanting to get the course, but I didn't want to do the price tag. And I'm so happy I have it now and I'm so happy I was able to get into it. And we heard that and we sat down and we said, man, this is, this is valuable. Less so in terms of like the revenue and dollars and cents that are coming into the enterprise, but more in terms of getting it into your hands. So One of the things that the content team pitched us on, and we love the idea of it, is rather than having that $49 price go away, we're going to leave it in place until the end of the year. So if you have not taken the food course, if you've not worked through the foo course, if you want to know more about step seven and hyper accumulation and what that is and how we develop that and how we think through that between now and the end of the year, you can get access to the financial order of operations course for $49. We have heard your feedback, we are responding in kind. So if you've not checked that out, go to learn.moneyguide.com to check that out.

[Brian Preston]

Well, I think it ties into the whole abundance cycle of the fact that I've told you guys many times, when we ever create a new tool, a new course, it's more for the accelerating on the path because we know ultimately we think if you get successful enough complications going to find you, you're going to need us as your wealth advisors at some point. But before you get there, you don't need to hire an advisor if you're just not if you're on that journey. But we quickly recognize there were certain points on the journey where people needed tools or they needed accelerators. And that's why we did the net worth tool so people could start tracking. And then we created the that one's free by the way, if you just go to moneyguy.com resources. But then we were like let's create a net worth dashboard, you know, so we actually created a tool with the dashboard so you can actually track the data points that are going to be really important. One of them by the way is those three buckets it built right into the net worth tool. And then the know your number course is so you know, if you're ahead of the curve, behind the curve, right where you're supposed to be. And then of course the financial order of operations kind of sat on top of all of it and it was, you know, that price point is because we put a lot into it, we even revised it twice and we let everybody who had previously had it, you know, just get the free download. We were like, let's make it even more accessible so people can accelerate the journey. And we have never been burned on the abundance cycle by giving more for better value, better resources. It seems like the more generous we are, the more generous you guys are back. So we want to keep paying it forward.

[Bo Hanson]

Love it.

[Megan]

Yeah, the whole team was really, really excited to be able to offer this new price point. I think it's going to get in the hands of a lot of people. It's going to do a lot of good.

[Bo Hanson]

Another great idea for a Christmas present. Maybe you've been trying to introduce someone to the Money Guy ecosystem and maybe they're not a big reader, they don't want a book, but they might be interested in a digital type course. The Financial Order of Operations course is a fantastic place to start, especially for newlyweds, new college graduates, somebody just starting out, wanting to know how they can command their army of dollar bills.

[Narrator]

The Money Guy show is hosted by Brian Preston. 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 and does not constitute financial tax, investment or legal advice.