Have a question? Let us know! askpete@petetheplanner.com Pete and Damian are back to solving financial issues for a new week. Oh! But first, here’s a quick prelude: We are so excited for the soft launch of Hey Money tomorrow exclusively for... Read More

Get ready to dive in! In this episode, Pete and Damian spare no details exploring our writers’ financial lives. There is far too much to discuss; let’s get into it, post haste!Can’t listen? Check the Show Notes!Show Notes:* Scenario: Writer, Jake and his wife bring in over $250,000 jointly, per year. She’s maxing out her 401K, he’s contributing 11% and increasing it by 2% each year. He currently has $20,000 saved, she has $50,000 saved. They are renters at $2100 per month, have student loans, car payments, live in Southern California, and are considering IVF ($20,000) in their family planning. They want to take out a $235,000 mortgage on an investment property.* Question 1: – Should they make this home purchase or do something else with cash flow? — Pete and Damian have a lot to say about this! Using every bit of information, they present some compelling arguments for not going through with this move. Click PLAY to hear how they dissect the facts!* Question 2: Pete and Damian help settle a 5-year debate between co-workers: Co-worker #1 says his 401(k) – comprised of 6 funds – is more diversified than the S&P 500. Co-worker #2 believes the S&P is in itself (already) diversified because it’s made up of 500 different holdings. …Who’s right? — Peter swings for the fences saying, “Having a large number of financial holdings…IS in itself a diversity of money, but not diversification of styles. The S&P 500 is not diverse enough to be your only holding.”  Listen to understand more about what that means.* Question 3: A young, 19 year-old student needs to learn how a credit card works, asking: “What happens when you hit your limit? Do you just get more?” — Pete speculates if the absence of “No” has created so many financial behavior issues…Something Special* REMEMBER: We’re rolling out a new thing! Hey Money – our new service for everyone! Get instant access to financial experts whenever you need it to help you solve your toughest (or easiest) money conundrums. Get on the Hey Money Launch List (https://petetheplanner.com/heymoney) for EXCLUSIVE first access. The Launch List (https://petetheplanner.com/heymoney) is the only way to access Hey Money for the first few weeks when we launching in early February.

In an uncommon feat, This episode is dedicated to Brendan. Pete and Damian feel so much gratitude to our writer's email that he earned the entire show dedicated to his three questions Click PLAY below to see if you could use any of the same answers they came up with for Brendan.Can't listen? Check the Show Notes!Show Notes:* Scenario: Writer, Brendan and his Wife are both about 30 years old and have three young children. After expenses and student loan payments, they have about $1500 cash left.* Question 1: Should they put that #1500 toward 529s (https://petetheplanner.com/considering-a-529-plan-heres-exactly-how-to-create-one/) for their kids and just pay the minimums to student loans? — Damian says, "Do both." Reap the benefits of compound interest and pay down debt. Have a plan for how much you want to accumulate in the 529 plans. Listen to hear if Pete actually agrees..* Question 2: Brendan needs life insurance. He currently pays for a $400,000 policy and has a preexisting medical condition. Would he be better off getting a term policy (https://petetheplanner.com/ep-165-life-insurance/)? — Damian says, "Look into a 20 or 30-year fixed term for yourself and have the agent shop you around with respect to your medical condition. Can't hurt to look."* Question 3: Should they save to pay for their kids’ future weddings (among all the quality-of-life benefits they enjoy)? Brendan and his spouse disagree. —— This is about your priorities. — Damian says, "This is a nice-to-do. Don’t put the psychological weight of identifying money for that on yourself. Not saving for a wedding, specifically, is the best move here."

FIRST SHOW OF THE NEW DECADE! Starting 2020 off in the right way, Pete and Damian are…still here.  Seriously, to welcome us all into a new season, it’s only right that the team introduce you to something new. Click play to hear... Read More

Coming up this week: Pete and Damian try even harder to try to figure out what they can disagree on!  For the final show of 2019, the dynamic duo try to empty out the mailbag and answer what they can... Read More

It’s almost 2020, people! As we wrap up 2019, we’re digging deep into the mailbag to discuss more of our listeners’ questions.  Listen to this show to hear a variety of situations  and Pete and Damian’s expert insights. Perhaps you’ve been... Read More

This week’s show is, in a word: focused.  Pete and Damian really drill into the most general area there is: Retirement. The mailbag was opened and brought out a question from a listener that Pete could get excited over: “Here’s my financial... Read More

New this week, Pete and Damian spend the entire show on The 401(k). Our writer is suffering a crushing blow with this from the mailbag: “I lost my job after 27 years of employment there. What should I do with my 401(k).”... Read More

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. 

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... Read More

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?... Read More

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... Read More

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... Read More

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... Read More

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... Read More

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...

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?

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: HELOC means Home...

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.

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

Pete and Damian answer questions around money and relationships.

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

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

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

Pete and Damian discuss ABLE plans and how they can help families with children with special needs.