Money Guy Show – Detailed Episode Summary

Episode Title:
The #1 Financial Fear Plaguing Gen X & Gen Z (& How to Beat It)
Hosts: Brian Preston & Bo Hanson
Date: November 26, 2025

Main Theme of the Episode

This episode tackles the number one financial fear shared by both Gen X (ages 45–60) and Gen Z (ages 13–28): feeling underprepared for their financial future. Brian and Bo break down why this fear exists in both generations, discuss the societal and practical causes, and outline practical strategies to overcome it. The conversation is mixed with engaging Q&A from listeners and actionable advice for anyone looking to build financial confidence.

Key Discussion Points & Insights

1. Shared Financial Anxiety: Gen X and Gen Z

• Gen X Fears:
  Approaching retirement with insufficient savings, uncertainty from the transition away from pensions to 401(k)s and self-driven retirement strategies.

  • “We are the first generation that's this big experiment with 401ks and instead of being defined benefits…we're kind of, now we're on this defined. We're going to give you this certain amount of money every year and you—good luck. Make sure you do it right.” — Brian Preston (04:22)

• Gen Z Fears:
  Facing high education costs, student loan uncertainty, expensive housing, and lack of financial education.

  • “54% of teenagers right now…say they feel underprepared for their financial future.” — Bo Hanson (02:41)

• Societal Cause:
  General lack of early financial education and guidance for young people.

  • “We don't do a great job training our young people early on how to make wise financial decisions.” — Bo Hanson (03:32)

[01:06 - 05:28]

The Data Behind the Fear

• 54% of Gen Z teens feel unprepared for their financial future.
• 52% of Gen Xers feel not financially ready for retirement.
• The average Gen X household has saved only about $40,000 for retirement; 40% have saved nothing.
  • “Remember, these are the folks that should be at least seeing the destination line…they've only got $40,000 saved for retirement. And 40%, 4 out of 10 Gen Xers say I have absolutely nothing saved.” — Bo Hanson (04:47)

2. Overcoming Financial Fear: Building Confidence & Strategies

[05:28 - 10:29]

a. Financial Education First

• Consume quality content, read newsletters, keep current on law and policy changes.
  • “The better educated you are, the better you're going to be able to navigate the decisions you're going to have to make over the coming years.” — Bo Hanson (05:45)

b. Have a Written Plan

• Make a tangible plan for eliminating debt, searching for jobs, or building savings.
  • “Have you actually put pen to paper to figure out how am I going to pay this off?...Do you actually have a plan of how you're going to end up in the place you want to be…?” — Bo Hanson (07:10)

c. Harness Time

• Understand how the powers of time, discipline, and margin (living below means) compound wealth.
  • “Are you ahead of the curve, behind the curve, or right where you're supposed to be? So then you can triage and figure out, hey, how do I take the time that I have and be the most effective and efficient…” — Brian Preston (07:52)

d. Be Kind to Yourself and Start Now

• Regardless of age, you can build substantial wealth if you start today; don’t dwell on regret.
  • “The best time in the world to have figured all this stuff out was yesterday. Which means the second best time…is today.” — Bo Hanson (08:44)
  • “Every one of you has a wealth multiplier that's significantly higher than a 52-year-old Gen X or has…Choose your small decision today that's gonna have huge impacts for your great big beautiful tomorrow.” — Brian Preston (09:45)

Listener Q&A Highlights

[10:51 - 13:42]

Q1: HSA Deductible and Emergency Funds (Paul T.)

• Situation: HSA health plan deductible increased—how to handle this in the “Financial Order of Operations (FOO)?”
• Key Insight:
  • Cover the highest deductible in your emergency fund—doesn’t need separate account if you’ve fully funded.
  • Tackle high-interest debt before progressing to larger reserves.
• “Whatever the highest deductible is, that does need to be step number one because that's where we're trying to protect you…” — Brian Preston (11:15)
• “Those can be combined. So … you do have a fully funded emergency reserve and … the deductible … is increased, … you're still covered, no need to go back to step one.” — Bo Hanson (12:20)

[13:43 - 22:33]

Q2: Fee-Only vs. Commission-Based Advisors (Zach G.)

• Situation: Dad works with a high-fee, non-fee-only firm—how to convince him to seek a fiduciary advisor?
• Key Insight:
  • Define “fee-only” (transparent, paid only by client) and “fiduciary” (legally required to act in client’s best interest).
  • Use Socratic questioning:
    • Compare fund/fee structures.
    • Ask about holistic advice (taxes, estate planning, etc.).
  • “Are they giving you the best advice for you or … what the law allows them to do?” — Brian Preston (14:32)
  • “Ask your dad…every year at tax time, does your advisor like ask for a copy of your tax return? ... You will begin to uncover very quickly if you were working with a true fiduciary financial advisor…” — Bo Hanson (18:32)

[28:11 - 32:39]

Q3: Underwater Car Loan & Downsizing (MrTrib12)

• Situation: Current car worth $17k, owes $19k, wants to buy $6–9k car.
• Key Insight:
  • Best Approach: Tighten spending, aggressively pay off negative equity before swapping.
  • Avoid “rolling negative equity” if possible—don’t perpetuate the shortfall.
  • “We got to have a few months of pain to get you out of this…I would love to get rid of, just completely eat up that negative equity before I made any transaction.” — Brian Preston (28:58, 29:26)
  • “That’s the thing that I want you to do…make the hard decisions that are going to set you up better than just exacerbating and rolling on this bad.” — Bo Hanson (30:18)

[33:13 - 38:08]

Q4: 529 Plans vs. Custodial Roth IRAs for Kids (Walker P)

• Situation: Kids are under 2. When should savings move from 529 plan (education) to custodial Roth IRA (retirement)?
• Key Insight:
  • 529s are for education; Roth IRAs require earned income.
  • Open Roth/custodial when kids have real taxable earnings—progress naturally as circumstances allow.
  • “This is not an age based thing…It's the why.” — Brian Preston (33:20)
  • “Keep it simple. There's no need to complicate it until it makes sense to introduce in that complication.” — Bo Hanson (35:55)

[38:11 - 44:37]

Q5: Emergency/Disaster Preparedness—Where in the FOO? (Matt Y.)

• Situation: West Coast family prepping for earthquakes/wildfires—where does this spending fall in priorities?
• Key Insight:
  • Reasonable, basic supplies (food, water, lights) don’t need to be delayed—can be purchased affordably.
  • Larger “prepping” (generators, etc.) should wait until debts, reserves are established.
  • “I think it's just good planning that if you were without power and other things for three days, your family's gonna be okay…This stuff doesn't have to be expensive.” — Brian Preston (41:18)

[45:00 - 48:46]

Q6: Saving Money on Hourly Income

• Situation: Advice for non-salaried, hourly workers on managing savings.
• Key Insight:
  • Still target 25% of gross income—regardless of frequency/variability.
  • Budget conservatively, base spending on minimum expected income.
  • For freelancers: remember self-employment tax (15%+), plan for fluctuations.
  • “Know thyself…be honest with yourself on what the income coming in…and also if you have an employer that's not giving you the hours that you want, put that into the assumptions as well.” — Brian Preston (46:13, 47:27)

Notable Quotes & Memorable Moments

• On Facing the Future:
  “If you do not own your financial future, your financial future will own you.” — Bo Hanson (09:33)

• On Timing:
  “The best time in the world to have figured all this stuff out was yesterday. Which means the second best time…is today.” — Bo Hanson (08:44)

• On Advisor Standards:
  “Are they giving you the best advice for you or … what the law allows them to do?” — Brian Preston (14:32)

• On Resetting Bad Financial Decisions:
  “We got to have a few months of pain to get you out of this…” — Brian Preston (28:58)
  “That's the thing that I want you to do…make the hard decisions that are going to set you up better…” — Bo Hanson (30:18)

Timestamps for Important Segments

• 01:06: Main topic intro—Gen X & Gen Z’s top financial fear
• 02:41: “54% of teenagers feel underprepared” (Gen Z statistics)
• 04:22: Gen X 401(k) transition, retirement worries
• 04:47: “$40,000 average Gen X savings, 40% have nothing”
• 07:10: Practical tips—form a specific written plan
• 08:44: Powerful call to action on starting now
• 11:15: HSA deductible & emergency fund, FOO step clarification
• 14:32: Fee-only fiduciary advisory explained
• 28:58: Car loan advice & negative equity approach
• 33:20: 529 vs. custodial Roth—when and why
• 41:18: Where disaster preparedness fits in personal finance
• 46:13: Advice for hourly earners, budgeting and tax considerations

Tone and Style

The episode is reassuring, pragmatic, and motivating—interwoven with the hosts’ usual humor and authenticity. Both Brian and Bo emphasize actionable, non-judgmental steps regardless of where a listener might be on their financial journey. There’s a community vibe, with frequent affirmations that “you’re not alone” and reminders to celebrate small progress along the way.

Final Thoughts

• Don’t be paralyzed by fear—action and education are powerful antidotes.
• Start where you are; the compounding effect of small, right decisions is enormous over time.
• Engage with your financial plan, seek professional advice when necessary, and prioritize holistic well-being over quick fixes.
• The Money Guy Show offers numerous resources (“moneyguy.com/resources”) for more guidance.

(Summary covers main actionable content; advertisements and banter skipped as requested.)