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Business
Investing

The Pete the Planner® Show

Updated 4 days ago

Business
Investing
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Redefining Financial Wellness

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Redefining Financial Wellness

iTunes Ratings

157 Ratings
Average Ratings
133
9
4
5
6

Good stuff

By Cami Moto - Aug 07 2019
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One of my favorite financial podcasts. Relevant topics and actionable advice.

Hilariously Informative

By AHro827 - Jun 04 2019
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I’m a big fan of this show. I appreciate how Pete and Damian make it fun. Keep up the great work!

iTunes Ratings

157 Ratings
Average Ratings
133
9
4
5
6

Good stuff

By Cami Moto - Aug 07 2019
Read more
One of my favorite financial podcasts. Relevant topics and actionable advice.

Hilariously Informative

By AHro827 - Jun 04 2019
Read more
I’m a big fan of this show. I appreciate how Pete and Damian make it fun. Keep up the great work!

Listen to:

Cover image of The Pete the Planner® Show

The Pete the Planner® Show

Updated 4 days ago

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Redefining Financial Wellness

Ep. 182: Signs of a Chaotic Financial Life

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This week, we’re talking about the chaos that can ensue in your financial life.

Chaos—while fun to spell and fun to say is not so fun when it comes to your financial life. If you’re waiting on your next paycheck to pay major bills such as your rent, your mortgage, or a car payment–you feel like you’re never getting ahead. That my friends causes stress and is the first sign leading to a chaotic financial life. It’s not the only sign, but it’s a good first indicator.

When looking at chaotic financial lives, you could be in one right now. Or, you could have been there in a different stage of your financial life, heck you might even be in this situation down the road–but today I want to tackle any and all chaos in your financial life. I’m gonna break. it. down. *record scratch* If you’re living a chaotic financial life, I want to de-chaosify it. If you’re not right now, down the road you’ll know the signs to prevent chaos-ifying your life.

Today, over the course of this episode, we’re going to cover:

  1. What does chaos look like?
  2. What are the signs of a chaotic financial life?
  3. Why does chaos exists?

I want you to conquer the chaos, however much that might be, that is in your financial life. I’m going to give you the tools so you can kiss chaos goodbye, and wave hello to financial ease.

The post Ep. 182: Signs of a Chaotic Financial Life appeared first on Pete the Planner®.

Aug 17 2017

38mins

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Ep. 197 Budgeting Basics

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This week, we’re talking budgeting.

Through the different online sites, apps and e-resources, setting a monthly budget can get lost in all the noise. We live in a world of convenience, but when it comes to budgeting–convenience is one of the biggest hurdles. When convenience becomes your main focus in your budget, you automatically avoid what helps make your budget successful month in and month out: accountability. Having the security of a monitoring device following every transaction can reassure and confirm account transactions. But when you are able to check your account balance and base spending off of a leger balance, it removes your awareness of maintaining your spending habits.

Whether it’s your first time setting a budget, or you’re revisiting a budget that no longer (or might never) have worked with your financial obligations and goals, with the right tools, setting categories within your budget to coordinate your obligations and support your goals is easier achieved than thought at first glance.

Through the course of this episode, I’m gonna going to give you the tools you need to set up and maintain a monthly household budget.

The post Ep. 197 Budgeting Basics appeared first on Pete the Planner®.

Oct 19 2017

40mins

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Ep. 167: The Four Stages of Your Financial Life

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This week, we’re talking about The Four Stages of Your Financial Life.

In your financial life there are 15, yes count’em, 15 things that you need to do. 15 sounds daunting, doesn’t it? If you write them all down that’s not a quick post-it note, it is a full blown and hardy list. That’s why I’ve broken up your financial life into four stages for you to accomplish those 15 things in. Because how much nicer of a number does four sound than 15.

Your financial life starts between the age of 18 to 22 and goes all the way until you retire around the age of 67-ish. In your financial life, you are going to work through four different stages. I like to call those: Survivin’, Drivin’, Arrivin’ and Thrivin’ (yes, I know those rhymed). Within each of those four stages I have broken up those 15 things you need to accomplish appropriately in each. When you have completed the designated set of “to-do’s” in each category, you can move onto the next the stage.

Before we dive into all you need to get done, we’re going to do a little self-evaluation. If you’ve been following my blog or podcast for a while you know I’m big on the self-evaluation. It gives us a starting point. A great inside to not only where you are in your financial life, but it will tell us the stage you’re in and whether there are things you need to catch up on or plan for. In this episode I will break down each stage and the tasks they include for you to successfully, at your own pace, make it to the next stage of your financial life.

You may be sitting there reading this and asking yourself, “How long does it take to make it through each stage?” Excellent question. It will be different for each individual, and that’s the beautiful thing about it. It may take a fresh college graduate who started a respectable salaried job right after school only two or three years to get out of survivin’. While it may take someone who has restarted their financial life 10 years to accomplish all the tasks in the first stage. This is where the 15 things come into role as: goals. Goals are apart of why I created these stages, to help focus on individual tasks to be accomplished. If you aren’t setting and working towards a goal(s), then you could be survivin’ for the rest of your life. You don’t want that, and I don’t want that. Focus on working towards your goals. The more your focus on them, the sooner you’ll make it through to the next.

I’ll be here to help you through each and every stage along the way.

The post Ep. 167: The Four Stages of Your Financial Life appeared first on Pete the Planner®.

Jun 22 2017

40mins

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Ep. 58: Budgeting

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Topic: Budgeting

What I cover:

  • Why you NEED to be a millionaire
  • Why you are budgeting wrong
  • When and how to have a successful budget meeting
  • Getting your spouse on board with budgeting
  • How to set spending goals for every category of spending

Subscribe on iTunes | Subscribe on Stitcher

Want to be a guest on the The Million Dollar Plan podcast? Apply Here.

The post Ep. 58: Budgeting appeared first on Pete the Planner®.

Mar 31 2016

38mins

Play

Ep. 120: Power Percentage™

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Introducing Power Percentage.

You have been trying to measure your financial life for years. You measure it by your credit score, your net worth, your income, your savings or retirement account balances… yet none of those reward your for good behavior like paying off debt. This is where Power Percentage comes in. Power Percentage is the metric that blows all the others out of the water. It rewards you for good behavior and doesn’t punish you for a low income. EVERYONE has to know their Power Percentage to see where they are financially. Listen to this episode to calculate yours today, and to learn how to move it up rapidly.

Power Percentage is also a huge part of the Million Dollar Plan course that helps YOU become a millionaire. It’s not rocket science, it’s not good luck, it’s a plain and simple plan to help you get your first million.

Check out the Million Dollar Plan here and listen to the Power Percentage episode below.

The post Ep. 120: Power Percentage™ appeared first on Pete the Planner®.

Nov 14 2016

41mins

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Ep. 329: Why HSAs are one of the best financial products on the planet

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Pop in your earbuds or turn the sound on and listen while you work. In this latest edition, Pete and Damian tell you why they love Health Savings Accounts (HSA). Feel like you don’t know enough about what those are or how best to use yours? This one’s for you.

Show Notes:

  • Got access to an HSA through your employer? Consider signing on; this vehicle may make better sense for stashing away more money for retirement.
  • HSAs help consumers handle the “first dollars” of healthcare expenses by making withdrawals from tax-advantaged Health Savings Accounts (HSA) to pay for those expenses
  • They offer you triple tax advantage: Contributions to HSA are tax-deferred, tax-deductible, and tax not taxed at withdrawal

There’s more to learn. Click play to hear all of the great info!

The post Ep. 329: Why HSAs are one of the best financial products on the planet appeared first on Pete the Planner®.

Oct 01 2019

39mins

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Ep. 281: Timing when to retire and paying off mortgages early

Oct 30 2018

42mins

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Ep. 268: Home buyer’s remorse and 401k roll-overs

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This week on The Pete the Planner® Show, we’re back answering more of your money questions. Our first question comes from a listener with a case of home-buyers remorse. His dilemma? He can afford his current housing situation, but he doesn’t want to afford his current housing situation. Seeing all the things he could be funding instead,  Pete weighs in and helps direct a financial focus. As we move into our next question, you may not believe me when I tell you it came from a 24-year-old. Our emailer recently left his first job out of college and is double checking his work that he should roll-over the $22,000 he put aside in a Roth 401K into his personal Roth IRA. Yes, he’s 24 years old wanting to roll over $22,000 into a personal Roth IRA. Saying Pete was proud is an understatement. Rounding out our questions this week is one of our favorites to dive into. Simply put: an emailer reached out and wants to know if she and her husband have set enough aside to retire.

The post Ep. 268: Home buyer’s remorse and 401k roll-overs appeared first on Pete the Planner®.

Sep 11 2018

43mins

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Ep. 46: Nicole wants to know whether she can buy a house before paying down some pesky debt

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Meet Nicole the 2nd (not to be confused with Ep. 12 Nicole)

Age: 25

Salary: N/A

Nicole’s main concerns, in her own words:

We have a little less than $40k in debt between our two auto loans, a personal loan ($8500), a credit card ($2000 @ 0% until paid) and student loans. The student loans have the highest interest at 6.8%, the rest is below 3.5% (We scored a great rate on consolidating old debt.) We’re on track to be out of debt in two years.

My husband has almost $30k in a 401k from a former employer. I have almost $2k in a 401k that I started this year. I’m now contributing 5% of my income and receiving a 4% match from my company. My husband just set up the same (we work together now). We have about $7500 in liquid cash savings.

We’re renting from family for $1000/mo but are eager to get into our own home. We don’t know if we should buy a smaller home now to take advantage of great rates, or wait until our debt is paid off and we can afford a more comfortable home. We’d love your advice!

What we cover on the episode:

  • To buy a house or continue renting?
  • Is too much of their household income going to rent?

Special feature:

Subscribe on iTunes | Subscribe on Stitcher

Want to be a guest on the Ask Pete the Planner podcast? Apply Here.

The post Ep. 46: Nicole wants to know whether she can buy a house before paying down some pesky debt appeared first on Pete the Planner®.

Jan 12 2016

33mins

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Ep. 80: Housing

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Topic: Housing

What we cover:

  • Why housing is the single biggest factor of your Million Dollar Plan
  • Making smart housing decisions that benefit you in the long-term

Subscribe on iTunes | Subscribe on Stitcher

Want to be a guest on the The Million Dollar Plan podcast? Apply Here.

The post Ep. 80: Housing appeared first on Pete the Planner®.

Jun 16 2016

39mins

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Ep. 157: Financial Stability

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This week, I cover the top three signs of financial stability. Over the course of my career, I’ve seen thousands of different financial situations—good and bad. These three signs have consistently been apparent in the good ones.

  1. At least three months’ of expenses saved. An emergency fund. Seems simple enough right? From my experience, it can sometimes take people years to keep that amount in a savings account. You really need to go out of your way to make sure this is a lump sum completely separate from the cash account you use for everyday purchases. Start by just saving one month of expenses first. Work your way up to three as soon as you can.
  2. At least a 20% Power Percentage. Don’t know your Power Percentage? Read more about it here or listen to my podcast about it. The quickest and easiest way to bump up your percentage is to increase your retirement contributions.
  3. A clear understanding of your #1 financial goal. In other words, for the next extra dollar that comes into your household, do you have a plan for exactly where it will go? No matter what is happening in your life, keep at least one goal for your finances. Don’t let yourself become stagnant. If you’ve just hit a rough patch, your first goal is to rebuild your emergency fund. If you just paid off a large debt, have a plan for where the extra money will be going now that it’s not going to a monthly payment. I get it, bad stuff will happen, but you cannot let instability set in.

Ready to create stability in your life? Make the decision to take these steps today.

The post Ep. 157: Financial Stability appeared first on Pete the Planner®.

May 11 2017

39mins

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Ep. 110: Self-Sabotage

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Topic: Self-Sabotage 

What we cover:

  1. Spencer Jakab author of Heads I win, Tails I Win
  2. The act of not saving before spending is self-sabotage
    1. Knowing that you have to fund your retirement and not doing it, is self-sabotage
    2. Voluntarily Buying something on credit with no means to pay it off, is self-sabotage
    3. Ignoring college costs either as a parent or a student is self-sabotage.
    4. Tax season can bring out all forms of self-sabotage
      1. When you consistently withhold the wrong amount then blow your refund.
    5. When you have a three or five paycheck month and you blow it
  3. Sabotaging a financial relationship
  4. BWOM

Subscribe on iTunes | Subscribe on Stitcher

Want to be a guest on the The Million Dollar Plan podcast? Apply Here

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The post Ep. 110: Self-Sabotage appeared first on Pete the Planner®.

Sep 30 2016

41mins

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Ep.163: The Reality Gap

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This week on the Pete the Planner® Show, I’m going to be talking about: The Reality Gap.

Ah,  the reality gap–so, this is what I’m really into right now and I’m going to explain and walk you through this concept. But first I want to talk about that there are actually a lot of applications to this, however for the time being, what I want you to focus on is your financial health reality gap.

So, if you will, think about your financial life and how you think you’re doing in two different ways: how you think you’re doing , a little self evaluation if you will, of where you feel your financial life is at. This may stem from how you good you feel about your  current income level or how you good you feel about the medical bills, student loans, ect. that you are paying off.

And then, you knew this had to be the second part, *sigh* there is how you are actually doing. After evaluating on how you think you’re doing, we need an objective measure to show us how you’re actually doing and the difference between how you think you’re doing and how you’re actually doing.

That, my friend, is the Reality Gap.

The post Ep.163: The Reality Gap appeared first on Pete the Planner®.

Jun 08 2017

39mins

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RePete Ep. 6: Everything you’ve ever wanted to know about your 401k

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On this episode of RePete we’re joined by Rick Unser to talk about your 401k! (Ok, not your 401k specifically, but you know what I’m getting at.) Pete and I wanted someone to help us understand 401ks on a deeper level and what changes are going on in the 401k industry. That person,  without-a-doubt, is Rick. He is a Workplace Retirement Consultant with Lockton Companies, LLC,  and host of 401(k) Fridays Podcast. Needless to say, a true retirement expert.

Throughout this episode, Pete and Rick dive into how target date funds fit into the 401k world. They look at changes going on within the industry and peek at the current happenings/trends going on within the 401k world right now.

The post RePete Ep. 6: Everything you’ve ever wanted to know about your 401k appeared first on Pete the Planner®.

Aug 02 2018

34mins

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Ep. 151: Mailbag

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This week, I dig into more of your questions. These are the ones I tackle:

“Hello Pete, I’m a 23-year-old and I work as a chemist making $50,000 a year. I’m currently contributing 6% to my employer-sponsored Roth 401(k) and maxing out my Roth IRA. I also recently started investing in a taxable account with my tax return and end-of-the-year bonus money. I have $26,000 in student loan debt and $10,000 in a car loan. The interest rates are 5.2% and 2.45% respectively. I currently make the minimum payments on each but feel overwhelmed by the large amount of debt. Should I keep throwing my extra money in the taxable account or start to double down on those loans? My investments have been making more than I currently pay in interest which is why I feel I am at a crossroads.”

— Alex from Wisconsin

Is a 35% power percentage really realistic? I’m a single 27-year-old, drive a paid-off car, invest 12% toward retirement (includes employer contributions, retirement is between a Roth and a traditional), invest 8% gross toward emergency savings, 4.33% gross toward a taxable brokerage account, and to show for all of it, my net worth is in the low 40’s. The only debt I have is a small chunk of credit card debt. The problem I had was that after computing my power percentage, I have a less than satisfactory percentage at 25%. Am I missing something?”

— Cory from Colorado

“Hey Pete, I’ve been a big fan for a long time, my dad was too. I have to say, he probably followed more of your advice than me. One thing he did follow was your advice for freezing my parents’ credit. It sounds great, but now that he’s passed, my mom can’t get anything in her name because she doesn’t know the answers to the security questions they’re asking. Anyway, this on top of all the stress of losing her husband is an enormous pain. What do you think? A great blog post in the making or weeks of time on the phone in frustration or both?”

—Allison

I also cover manure, silent killers, and my best tactics for faking your way through English class. What can I say? Sometimes I get off track.

The post Ep. 151: Mailbag appeared first on Pete the Planner®.

Apr 13 2017

40mins

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Ep. 68: Minimalism

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Topic: Minimalism

Featuring: Blogger, author, speaker, and minimalist Joshua Becker. Josh and I have been friends for a few years, and I’m a HUGE fan of his work. Excited to have him back on the show.

What we cover:

  • How Josh came to minimalism
  • Overcoming consumerism, and embracing minimalism
  • The roadblocks to a minimalist lifestyle
  • The downside of minimalism (spoiler: there isn’t one!)

Check out Josh’s new book The More of Less here!

Subscribe on iTunes | Subscribe on Stitcher

Want to be a guest on the The Million Dollar Plan podcast? Apply Here.

The post Ep. 68: Minimalism appeared first on Pete the Planner®.

May 05 2016

37mins

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Ep. 250: Your money questions, answered.

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This week on The Pete the Planner Show, Pete and I are answering your money questions. To start this week’s show, we piggyback off of a question he answered in his USA Today column, “Why does my investment advisor charge based on the amount of money that I have?” Pete tackles this by diving into what a standard fee for an advisor looks like and the factors that go into why/how it can cost the same to manage $200,000 as it does $2 million. We next dive into our AskPete inbox for a question we’ve never really addressed before, “When is the right age to buy long-term care insurance?” Pete explores the benefits of long-term care insurance when timed just right, and how to avoid tacking on coverage prematurely. We answer a question from a listener wanting to know, “How do you know if you can afford youth travel sports?” Truth be told: this is a tricky question. As Pete’s daughter does youth travel sports, and… we just had to throw that out there going into this answer. Using the Ideal Household Budget to help guide our answer, Pete shows a couple options on how to about funding them. And it wouldn’t be a PTP Show episode if we didn’t wrap our show for the week up with the biggest waste of money of the week.

The post Ep. 250: Your money questions, answered. appeared first on Pete the Planner®.

May 10 2018

42mins

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Ep. 125: Renae just had a giant income increase and needs help budgeting

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M$D: 7/11/2062

Meet Renae

Age: 28

Renae’s main concerns, in her words:

Took my time to get into college, graduated undergrads in graphic design in 2013. Got pregnant. Took any work possible. Landed a decent 30k salary/benefits job that I enjoy. Earned $7,800 additional in raises over 2 years. Went to grad school for nerdy tech/engineer stuff, and now have an offer for a role that would be 20k difference from my current rate.

cmem7ka5

The post Ep. 125: Renae just had a giant income increase and needs help budgeting appeared first on Pete the Planner®.

Dec 21 2016

25mins

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Ep.177: Allison wants to retire early, but got a late start on serious retirement savings.

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Meet Allison.

Allison’s main concerns, in her own words: I am a single Federal Government employee who would like to retire at 62. I currently make just over $100,000, but I live in the high cost of living area of the greater Washington DC area. I got a late start on serious retirement savings and now have a balance of approx. $270,0000. This is the first year I will max out my Roth TSP. Right now I am on track to having a pension from FERS between $27,000-$35,000 per year in retirement.

My biggest concerns are can I afford to retire at 62 without Social Security and have the lifestyle that will potentially allow me to travel for several years minimum? What about long term care? I am single and will most likely need assistance at some time in the future as I age.

The post Ep.177: Allison wants to retire early, but got a late start on serious retirement savings. appeared first on Pete the Planner®.

Aug 01 2017

33mins

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Ep. 246: Pete’s in Phoenix

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This week on The Pete The Planner Show  we wrap up our road series! Pete’s in Phoenix for the final leg of his travel… for right now and I’m in HQ maning the board. In this episode, Pete’s diving into his least favorite things about financial advisors. He explores what makes these characteristics stand out as red flags, and how to be proactive when working with an advisor. And to end this week’s show we peak into Pete’s everflowing inbox and dig into the biggest waste of money of the week.

The post Ep. 246: Pete’s in Phoenix appeared first on Pete the Planner®.

Apr 26 2018

43mins

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Ep. 338: Inheritance Is Coming. What Should I Do?

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Familiar and funny as ever, Pete and Damian disagree. Our regular listeners will know what an occasion this is. “I’m going to receive a $130,000 inheritance. What should…”  WAIT! Before you tune out the rest of the question, there are some home-buying gems you should hear in this show.
Can’t listen? Check the Show Notes!

Show Notes:

  • The writer has a $130K inheritance coming. While we listen with jealous ears, he writes should he use it to pay down his current mortgage, or save the $130k for the next home purchase? How should he use the inheritance in the smartest way possible?
  • Without knowing all of the details, Pete and Damian discuss the range of options with two different time horizons: 10 years from retirement and 30+ years from retirement.
  • Peter and Damian disagree, one claiming a better option would be to grow the $130 through market instruments, and the other backing a more cashflow-forward approach.

Click PLAY below to learn who said which and why.

The post Ep. 338: Inheritance Is Coming. What Should I Do? appeared first on Pete the Planner®.

Dec 03 2019

38mins

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Ep. 337: New Home Buyer’s Remorse!

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Up next on the new show, Pete and Damian wince as their writer begins his question with a stunning headline: “I just bought a new home and I instantly regret it.” You have got to check this one out.
Can’t listen? Check the Show Notes!

Show Notes:

  • With $80,000 in equity, should they get out now or wait and build up equity? Pete and Damian muse with the following questions in response: “What makes him feel like he was right in the first place? Or wrong in the first place? Maybe it’s just buyer’s remorse?
  • The concept of waiting to build additional equity in the home comes with a number of important considerations, including specific location (state, city, neighborhood), as this will affect prices and likelihood of being able to sell at a later date.
  • Peter and Damian suggest, unfortunately Get out now.

Click play below to find out why.

The post Ep. 337: New Home Buyer’s Remorse! appeared first on Pete the Planner®.

Nov 26 2019

38mins

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Ep. 336: Signs of a Chaotic Financial Life

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This week, we’re talking about the chaos that can ensue in your financial life.

Can’t listen? Check the Show Notes!

Show Notes:

Chaos—while fun to spell and fun to say is not so fun when it comes to your financial life. If you’re waiting on your next paycheck to pay major bills such as your rent, your mortgage, or a car payment–you feel like you’re never getting ahead. That my friends causes stress and is the first sign leading to a chaotic financial life. It’s not the only sign, but it’s a good first indicator.

When looking at chaotic financial lives, you could be in one right now. Or, you could have been there in a different stage of your financial life, heck you might even be in this situation down the road–but today I want to tackle any and all chaos in your financial life. I’m gonna break. it. down. *record scratch* If you’re living a chaotic financial life, I want to de-chaosify it. If you’re not right now, down the road you’ll know the signs to prevent chaos-ifying your life.

Today, over the course of this episode, we’re going to cover:

  1. What does chaos look like?
  2. What are the signs of a chaotic financial life?
  3. Why does chaos exists?

I want you to conquer the chaos, however much that might be, that is in your financial life. I’m going to give you the tools so you can kiss chaos goodbye, and wave hello to financial ease.

Click play below to find out the signs and hear if you might be amidst chaos..

The post Ep. 336: Signs of a Chaotic Financial Life appeared first on Pete the Planner®.

Nov 19 2019

38mins

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Ep. 335: With $1M Saved, I Can Retire Now, Right?

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Back into the mailbag! New on the show, Pete and Damian try to find balance in their skepticism toward a retirement-bound writer. With over $1M in investable assets and a continuing part-time job, why is he still concerned about outliving his savings? Pete and Damian investigate the details of the story.
Can’t listen? Check the Show Notes!

Show Notes:

  • The first and main question Pete and Damian ask is a simple one, “With 5 years until retirement, how much does his live on now?”
  • With +$1M in assets plus the promise of part-time income, the writer checks the boxes for savings and diversification. It’s entirely reasonable that he could succeed in retirement.
  • Peter and Damian cleverly deduce that he’s left out details about current expenses and lifestyle. These are key pieces of information; they tell the story of the present to help predict the one of the future.

Click play below to follow their investigations.

The post Ep. 335: With $1M Saved, I Can Retire Now, Right? appeared first on Pete the Planner®.

Nov 12 2019

39mins

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Ep. 334: Am I Saving TOO MUCH Money? Help.

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New week, new show! This time, Pete is joined by… Damian! They wax so poetic about retirement and advisors that they had to extend the segment! Is it possible to be saving TOO MUCH money for retirement? Find out when you push play!
Can’t listen? Check the Show Notes!

Show Notes:

  • When is it ever enough? Is that even possible? How do you know when you’re overdoing it? There are layers and nuances to the work/life balance. There is no easy answer. But having hard conversations (especially with your significant other) can help you think through the strategy that makes the most sense for you.
  • Maybe you’ve been able to successfully manage your own money yourself. Pete Loves an in-tune investor.” It’s good. But, recognize what you’re capable of and your inclinations if things start to go sideways.
  • Seeking an advisor? Ask *these questions first. (But make sure you tell them you’re interviewing, upfront.)

*You’ve got to listen to find out what to ask.
Click play below to hear all the goodies.

The post Ep. 334: Am I Saving TOO MUCH Money? Help. appeared first on Pete the Planner®.

Nov 05 2019

39mins

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Ep 333: This Is Motivation to Start Saving! (Maybe.)

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This week, Pete and Damian talk examples of the classic phrase: “Have your cake and eat it too:” You can save $3.8M in your lifetime? Do Student Loan payments build credit? New spouse, new house & new baby: Am I ok? Three very real topics, for very real people!
Can’t listen? Check the Show Notes!

Show Notes:

  • If done perfectly, it’s conceivable that a person can have 76% of their career earnings at retirement! It’s about compounding interest.
  • Oh, the dreaded credit score; again. If you see a debt that you are making a payment on it or are behind on it, it affects your credit.
  • Remember that retirement is coming. Despite the burdens of bills to pay, (responsibly) the younger you can get started on this: the better off you’ll be in the long run.

Life can be hard for everyone. Solutions can still exist.  Click play to learn how to have your cake and eat it too!

The post Ep 333: This Is Motivation to Start Saving! (Maybe.) appeared first on Pete the Planner®.

Oct 29 2019

39mins

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Ep. 332: Power Percentage™

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Introducing Power Percentage.

You have been trying to measure your financial life for years. You measure it by your credit score, your net worth, your income, your savings or retirement account balances… yet none of those reward you for good behavior like paying off debt. This is where Power Percentage comes in. Power Percentage is the metric that blows all the others out of the water. It rewards you for good behavior and doesn’t punish you for a low income. EVERYONE has to know their Power Percentage to see where they are financially. Listen to this episode to calculate yours today, and to learn how to move it up rapidly.

Power Percentage is also a huge part of the Million Dollar Plan course that helps YOU become a millionaire. It’s not rocket science, it’s not good luck, it’s a plain and simple plan to help you get your first million.

Check out the Million Dollar Plan here and listen a replay of our classic Power Percentage episode below.

The post Ep. 332: Power Percentage™ appeared first on Pete the Planner®.

Oct 22 2019

41mins

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Ep 331: Preparing for A Prenup & More!

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The tag team is back again! This week, Pete and Damian tackle Considerations when Preparing for a Prenuptial Agreement, Going into Debt to buy Furniture, and ‘Retirement Confidence.’ Three very real topics, for very real people!
Can’t listen? Check the Show Notes!

Show Notes:

  • Proposing a prenup can be tough. Having a clear and vulnerable conversation about the households you both come from and the (perhaps painful) experiences you’ve had is key. It’s about emotional intelligence.
  • You’ve got to want to retire. And you’ve got to have a plan to do so. If your nest eggs cover your month to month needs and are willing to manage your expenses, enjoy the new freedom!

Establishing better behaviors with money is always the goal.  Click play to learn how to make the best of these very real scenarios!

The post Ep 331: Preparing for A Prenup & More! appeared first on Pete the Planner®.

Oct 15 2019

38mins

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Ep 330: Is A HELOC the Winning Option?

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Another week, another show! Press play and listen as Pete and Damian weigh the HELOC vs. the ‘Double Move.’ Yes, it’s HELOC, not to be confused with a mythical Master of the Universe. Can’t listen? Check the Notes.

Show Notes:

  • Have an end-game in mind, then set about finding financial options to make it happen. In other words, it’s helpful to know what you want and know what you want to avoid. It makes narrowing your options much easier.
  • LIFEHACK: (Assuming plans are in place), put your house on the market, take a well-timed vacation, stow your housewares in a POD and have them waiting for you at the new place when you return.

This one includes a BONUS feature on a particularly bad idea for Emergency Funds. Learn why. You’ve got to click play on this one!

The post Ep 330: Is A HELOC the Winning Option? appeared first on Pete the Planner®.

Oct 08 2019

39mins

Play

Ep. 329: Why HSAs are one of the best financial products on the planet

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Pop in your earbuds or turn the sound on and listen while you work. In this latest edition, Pete and Damian tell you why they love Health Savings Accounts (HSA). Feel like you don’t know enough about what those are or how best to use yours? This one’s for you.

Show Notes:

  • Got access to an HSA through your employer? Consider signing on; this vehicle may make better sense for stashing away more money for retirement.
  • HSAs help consumers handle the “first dollars” of healthcare expenses by making withdrawals from tax-advantaged Health Savings Accounts (HSA) to pay for those expenses
  • They offer you triple tax advantage: Contributions to HSA are tax-deferred, tax-deductible, and tax not taxed at withdrawal

There’s more to learn. Click play to hear all of the great info!

The post Ep. 329: Why HSAs are one of the best financial products on the planet appeared first on Pete the Planner®.

Oct 01 2019

39mins

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Ep. 328: Dipping your toe into minimalism

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Special guest Gayle Evezich joins Pete and Damian to discuss starting a minimalist journey.

The post Ep. 328: Dipping your toe into minimalism appeared first on Pete the Planner®.

Sep 24 2019

39mins

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Ep. 327: How many 529 accounts does our family need?

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Pete and Damian discuss college funds, Power Percentage, and more. Special guest this week is Kristen Ahlenius from Your Money Line®.

The post Ep. 327: How many 529 accounts does our family need? appeared first on Pete the Planner®.

Sep 17 2019

39mins

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Ep. 326: Getting rid of an old car which starts costing you money

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It’s the age old question — “When do I bite the bullet and just get a new car?” Damian and Pete do their best to answer this question.

The post Ep. 326: Getting rid of an old car which starts costing you money appeared first on Pete the Planner®.

Sep 10 2019

38mins

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Ep. 325: Prenups are certainly something

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Pete and Damian discuss the prudence of pre-nuptial agreements.

The post Ep. 325: Prenups are certainly something appeared first on Pete the Planner®.

Sep 03 2019

39mins

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Ep. 324: Using a Roth to buy a house

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This week Pete and Damian explore alternative uses for a Roth IRA.

The post Ep. 324: Using a Roth to buy a house appeared first on Pete the Planner®.

Aug 20 2019

39mins

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Ep. 323: What should we do with this inheritance?

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Pete and Damian help a guy deal with a $60,000 inheritance.

The post Ep. 323: What should we do with this inheritance? appeared first on Pete the Planner®.

Aug 13 2019

39mins

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Ep. 322: One of the two topics married couples argue about the most

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Pete and Damian answer questions around money and relationships.

The post Ep. 322: One of the two topics married couples argue about the most appeared first on Pete the Planner®.

Aug 06 2019

39mins

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Ep. 321: Don’t buy the house

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Pete and Damian tackle two emails in which the solution is to not buy the house.

The post Ep. 321: Don’t buy the house appeared first on Pete the Planner®.

Jul 30 2019

39mins

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Ep. 320: Stock market update

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Pete and Damian give you an update on what the market is doing and why you should care.

The post Ep. 320: Stock market update appeared first on Pete the Planner®.

Jul 23 2019

38mins

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Ep. 319: I’ll pay for college if you get good grades

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An emailer wants to know if his self-created “merit” based college funding idea makes sense for his sons.

The post Ep. 319: I’ll pay for college if you get good grades appeared first on Pete the Planner®.

Jul 16 2019

39mins

Play