We want to answer your questions about money. Email us and you may hear yours on the air: askpete@petetheplanner.com This week on the Pete the Planner Show, Pete is back from vacation and Dame’s AquaDunns are expected to do quite well in... Read More

We want to answer your questions about money. Email us and you may hear yours on the air: askpete@petetheplanner.com This week on the Pete the Planner Show, Pete and Damian discuss what happens next week when Pete goes on vacation! What do... Read More

We want to answer your questions about money. Email us and you may hear yours on the air: askpete@petetheplanner.com This week on the Pete the Planner Show, Pete hits the beep AGAIN and wonders if he’s a radio master by now after... Read More

We want to answer your questions about money. Email us and you may hear yours on the air: askpete@petetheplanner.com This week on the Pete the Planner Show, Pete hits the beep AGAIN, also Damian chooses the order for the show. WHAAAAT?!

QUESTIONS ABOUT MONEY? GET EXPERT ANSWERS. EMAIL US AT: ASKPETE@PETETHEPLANNER.COMThis week on the Pete the Planner Show, Pete and Damian have an amazing surprise for our show listeners! You will now be getting the full, raw, unedited podcast to hear even more Dunn-isms each week!Show Notes:Mailbag Question 1:* My wife and I are both 52 and have a done a mediocre job at saving for retirement. Based on every online calculator I’ve used, we’re falling short of our retirement goals and the goals are modest. Between our mortgage, car payments and kids’ college educations, we don’t have much left each month. What do you tell people who are scraping by now and headed toward a not-so-great retirement?”Damian: You may have to shift your idea of what retirement looks like. The things you may have envisioned are likely going to have to change a bit.Pete: When people look at retirement shortfalls, they come to the conclusion “I don’t have a lot of money.” Change that lens; instead of focusing on not having a lot, focus on eliminating the obligations which make retirement seem impossible. Pete’s StoryTime:* “When the pandemic and recession hit, we volunteered our services to the city of Indianapolis to be able to help people who had been suffering. This guy and his wife were about 50 years old. She was staying at home, not working. He was in the hospitality industry. Last year was his best year ever, bringing in $130,000. This year, he will have made $65,000. They’re only going in the hole to the tune of $750 per month. They’re renters and want to buy a home, while staying in their good school district. They’ve saved a bit of a downpayment, and want to buy a $225,000 home. …. They had saved $100K as a downpayment and have $50K in an emergency fund. They don’t feel great about what they have saved for retirement …but they have about $250K saved for retirement. They want to stop renting, but they can’t afford a new house in their neighborhood, even with that downpayment. It’s a remarkable problem, their perspective. Is this not one of the most unusual crises you’ve ever heard of?“Damian: They must have been pretty disciplined prior to this year. They’ve got decisions to make, with younger kids still in school. “How much are they going to want to contribute to their kids’ education?” Some of that savings could need to be redistributed to other areas on their life.Pete: It’s fascinating; they’ve got four goals, but only three of them are possible. I hate to say this, but ‘college’ is at the complete end of the list here.  NO MORE SEGMENTS! There’s so much more in the full show!

QUESTIONS ABOUT MONEY? GET EXPERT ANSWERS. EMAIL US AT: ASKPETE@PETETHEPLANNER.COMThis week on the Pete the Planner Show, Pete and Damian welcome a special co-host: Pete’s daughter, Ollie!No time to listen? BUMMER. Here’s some of what happened:Show Notes:Stock Market Year-End Review (a month early):Back on March 23rd, Pete and Damian talked about the performance of the market. Neither predicted that things would recover and rally like it has.* Guessing Game: How has this stock done this year – is it: up, really up, or down, or really down?Carnival Cruise Lines: (Olivia) Down; (Damian) Very down. – Actual: Very down.Peloton: (Olivia) Up to really up; (Damian) Astronomically up. – Actual: Really up..Delta Airlines: (Olivia) Down; (Damian) Down. – Actual: Really down.ZOOM: (Olivia) Really up; (Damian) Really up. – Actual: Really down.S&P 500: (Olivia) Really up; – Actual: up. Mailbag Question:* “I like to think I’m very responsible with money. Other than mortgage ($308K), I have no debt. I make $216K salary + a bonus of about $75K per year. Cashflow is good and I max out my 401(k) with company match. I’ve got 3 kids, 17, 15, and 12 years old respectively. I have some college funds set up for them. Is it stupid to join a country club?“Damian: I’m not unbiased. I grew up on a golf course. The one word that concerns us is “some.” IF the kids know what their future college expense responsible going to be, sure, join the club. Make memories!Pete: Me too. I’m leaning yes on this. His cash flow is significant. They could basically cashflow college. 

HAVE A MONEY QUESTION? GET EXPERT ANSWERS. EMAIL US AT: ASKPETE@PETETHEPLANNER.COMThis week on the Pete the Planner Show, Pete and Damian get two of the shortest questions of 2020 …and then they get the longest email question in the history of the show.

HAVE A MONEY QUESTION? GET EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Peter and Damian remind everyone that the upcoming holidays are not cancelled; we just need to look at them differently, with safety being a priority. FEATURED CONVO: Will Student Loan Forgiveness plans continue with the new federal administration?REMINDER: Try HEY MONEY, your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:Mailbag Question 1:* “I’m in Indiana. What is a reasonable fee for a fee-only advisor? What services should I expect? I’ve seen $600 for a retirement readiness assessment, and I’ve seen $1200/year fees. What’s reasonable?”Damian: Let’s compare this to the percentage of the assets managed. I’ve seen all the way up to 2%. This flat-fee idea is gaining traction. What to expect? It depends. A bigger portfolio or on-going relationship is likely going to cost more. Ask yourself ‘what do you need?’ The advisor should essentially keep you from doing something foolish in the long term.Pete: There could be some real confusion here. $125 – $300 per hour sounds reasonable to talk through your financial strategies. Also, use Hey Money, for everything else once you’ve got your investments figured out. (Hint: Use the offer code “RADIO”) Mailbag Question 2:* “My wife and I are plotting out our financial goals for 2021, but hit a snag on deciding our theme for the year. Our incomes are north of $350K, or about $17K per month. We both contribute more than 10% to our 401(k)s. We don’t have kids and live in a modest house. We have a savings account with $80K in it we kick into every month; it’s higher than normal. Our debt is our mortgage and med school loans. Should we use the excess cash and pay down our mortgage or invest into the S&P500?“Damian: I think they should wait and keep doing what you’re doing. Watch the incoming administration. Especially with regard to student loans. Does your wife qualify for PSLF (Public Service Student Loan Forgiveness)?Pete: I agree. They need more time. Maybe consider stopping saving so aggressively?  * There’s a full, entertaining conversation in here! Get the full answers to this more — click PLAY below for the full show.

HAVE A MONEY QUESTION? GET EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Peter and Damian tackle some serious relationship problems. REMINDER: Try HEY MONEY, your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:Mailbag Question 1:* “I’m feeling I’ve been abused by my husband. He thinks a stay-at-home mom is a servant and I don’t need an allowance, and is constantly saying rude things to me about our financial problems.”Pete: This hurts. So little is said, with words, but it says so much. The idea of an adult with an allowance still rubs me the wrong way.Damian: Financial abuse often comes along with emotional of physical abuse and manipulation. These stories aren’t to be brushed under the rug. Peoples’ value and worth is not their income. She might need to find an advocate to help create an opening to work through this. Mailbag Question 2:* “I believe you have a better chance of success when you know how to define success, which is to set a goal. How do you recommend people set goals when they’re doing it with someone else?“Damian: Communication has to happen. Maybe even over multiple meetings. Start talking about where you’re at and what you want to accomplish. Give yourself a specific number to reach and within a specific time limit.Pete: I’ll add “what it is you’re trying to accomplish.” It’s not enough to say, “I’d like less debt this year.” You need something like, “I’d like $350 less debt on my Best Buy card by December 6th of this year.” You’ve got to be able to measure it. Also, trust and vulnerability have to be there.We built Hey Money so someone can guide you through this process to set financial goals together. (Hint: Use the offer code “RADIO”) * There’s a full, entertaining conversation in here! Get the full answers to this more — click PLAY below for the full show.

HAVE A MONEY QUESTION? GET EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Peter and Damian welcome a special guest: Phil Schuman, Executive Director of Financial Wellness & Education at Indiana University!REMINDER: Try HEY MONEY, your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:Catching Up:* “What does the local economy of Bloomington, look like?“Phil: I’m glad people hare respecting the mask mandates and following the rules for managing COVID-19, but it’s different; it’s a very different vibe. We’ve seen lots of locals support restaurants. * “From a financial perspective… what’s the vibe of students?“Phil: Weirdly, it’s fairly similar. Also, I’m hearing more conversations about about 401(k)s and resources they can use. We’re asking “what can we do to help them overcome financial issues that keep students from their degree?” * “Have you seen a trend with parents taking out more or less student loan debt during this pandemic?Damian: The trends are still parented trying to figure out how they’re going to pay for it, especially if there’s been an income disruption in the household…* There’s a full, entertaining conversation in here!z! Get the full answers to this more — click PLAY below for the full show.

Have a money question? Get expert answers. Email us: askpete@petetheplanner.com On this episode of the Pete the Planner Show, Peter and Damian welcome a special guest: Phil Schuman, Executive Director of Financial Wellness & Education at Indiana Univer...

HAVE A MONEY QUESTION? GET EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMIt’s time for a semi-annual review! On this episode of the Pete the Planner® Show, Peter and Damian discuss their current views on the concerns they had from March 1, 2020! Don’t forget! HEY MONEY is your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:On the Pandemic:* “On the pandemic, how concerned are you on a scale of 1-10?“Damian: (NOW) – 6/7. We’re navigating our daily lives, but there’s still something sitting out there… (MARCH) – 1, for my family’s safety.Pete: (NOW) – About an 8, trending towards 9. (MARCH) – I was a 6.On the Market:* “On the market, 1 = no concern, 10 = freaking out?“Damian: (NOW) – 2. We’ve been through lots of traumatic stuff over the last 100 years, but things keep steamrolling on. (MARCH) – 1.Pete: (NOW) – 1 on a long-term view, 2 on short-term view. (MARCH) – 1.On the Economy:* “On the economy, where are you on the US economy?“Damian: (NOW) – About a 7. We’ve talked about a number of challenges coming (election, evictions, virus ramping back up) so sI’m a little afraid of getting into an open-close cycle in the next 3-12 months… (MARCH) – 3-5, with the information we had.Pete: (NOW) – About an 8 or 9. For the same reasons, maybe a hair stronger though. (MARCH) – I was more concerned about the economy than the pandemic, back then. * This is only the highlight reel! Get the full answers to this more — click PLAY below for the full show.

Have a money question? Get expert answers. Email us: askpete@petetheplanner.com It’s time for a semi-annual review! On this episode of the Pete the Planner® Show, Peter and Damian discuss their current views on the concerns they had from March 1, 2020!

HAVE A MONEY QUESTION? GET EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Damian is gone forever! Well….forever was a stretch. For this awesome episode, Pete is handling hosting duties and welcomes our very own, OZ for an important chat!Reminder: HEY MONEY is your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:  Women and Investing:* “I’m 24, and a woman. I have never invested in the stock market and I’ve always wanted to. Thinking long term, is it wise for me to invest? Studies show, fewer women invest in the stock market than men. Is there a better mechanism for the risk-averse to grow their money? How do women know when and how to jump into the market?“Pete: There’s been a lot of research around this topic. One shows that when women do invest, they tend to be better investors than men. Here’s the theory on why: in situations where women don’t know what to do, they investigate and to find the answers first. Men tend to plow through the lack of information anyway. That likely leads men into more binds than women.Nevertheless, it’s a predominantly male industry. You should find a female investment advisor. Here’s one!”Equity and The Industry:“The gender equity gap is expected to only grow wider in this country. We are all better off with equitable workplaces.* * This is only the highlight reel! Dive into this critical conversation! — click PLAY below for the full show.

Have a money question? Get expert answers. Email us: askpete@petetheplanner.com On this episode of the Pete the Planner Show, Damian is gone forever! Well….forever was a stretch. For this awesome episode, Pete is handling hosting duties and welcomes ou...

HAVE A MONEY QUESTION? GET EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Peter and Damian ask, “Should a person buy a home right now?” And they answer it!Don’t forget! HEY MONEY is your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:Mailbag Question 1:* “As my means has grown, so has my budget. My wife and I used to make $25K, now we are both at about $85-90K. Over the years, we’ve purchased a home and pay for daycare now. We both contribute over 15% to our retirements accounts, and we have no debt other than our mortgage. At what point is a growing budget lifestyle creep and what are key indicators to watch out for?“Damian: Find a way to measure yourself year-over-year. Make sure your goals are covered up front, and appropriate for your situation.Pete: Their income has increased significantly. Their metrics are indicative of people who can responsibly increase their lifestyle. Ask, “what can you remove if times get tough?”Mailbag Question 2:* “Is now a good time to refinance my house? … If I am a renter right now, who has a down payment and an emergency fund, is now a good time to buy a house?“Damian: …No.* This is only the highlight reel! Get the full answers to this more — click PLAY below for the full show.

Have a money question? Get expert answers. Email us: askpete@petetheplanner.com On this episode of the Pete the Planner Show, Peter and Damian ask, “Should a person buy a home right now?” And they answer it! Don’t forget! HEY MONEY is your new secret...

HAVE A MONEY QUESTION? GET EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Peter and Damian tell personal stories about their households!Don’t forget! HEY MONEY is your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:Mailbag Question 1:* “My grandmother passed away and left me $15,000. I could use a new car. What should I do with it?“Damian: I don’t think there’s any way you told them to use that on the car. How are we feeling about their employment? Is it solid?Pete: They also are considering a $12,000 home repair. There are responsible options here. Small-ish inheritances don’t seem to get the same respect as larger amounts.Mailbag Question 2:“You often talk about budgeting. Where I struggle in budgeting is to know what is actually left. We no longer live in a cash society. With debit and credit cards as our spending method, how do you actually know when you’re out of money?”* For the answers to this and this episode’s featured question, click PLAY below for the full show.

Have a money question? Get expert answers. Email us: askpete@petetheplanner.com On this episode of the Pete the Planner Show, Peter and Damian tell personal stories about their households! Don’t forget! HEY MONEY is your new secret weapon for advice in...

HAVE A MONEY QUESTION? GET EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Peter and Damian remember they don’t speak Spanish!Don’t forget! HEY MONEY is your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:Main Question:* “How much should I have saved based on how old I am in relation to my retirement portfolio?“Damian: This is a very common question; especially the younger a person is. They’re more focused on a benchmark or guideline to see where they are on “track.”Based on an article by Michael Batnik responding to a Fidelity infographic (https://theirrelevantinvestor.com/2020/09/25/how-much-money-should-you-have-saved-for-retirement/), at Age 30, Fidelity says you should have the equivalent of 1 year’s income in your retirement plan.At Age 40: you should have 3x your current income set aside in retirement funds.At Age 50: you should have 6x your current income set aside in retirement funds to know that you are on track.At Age 60: you should have 8x your current income set aside in retirement funds.At Age 67: you should have 10x your current income set aside in retirement funds.Follow Up:“Michael Batnik didn’t believe this was realistic until looking at the data. He found that this is actually realistic if you start in your early 20s. Also, this falls apart if you have huge pay jumps through the years, largely due to lifestyle creep.* Tune in for the featured segment. The segments in this episode are INTERESTING. It’s pretty different from many of our educations. Click PLAY below for the full show.

Have a money question? Get expert answers. Email us: askpete@petetheplanner.com On this episode of the Pete the Planner Show, Peter and Damian remember they don’t speak Spanish! Don’t forget! HEY MONEY is your new secret weapon for advice in your perso...

HAVE A QUESTION? GET SOME EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Peter and Damian realize that the show is so good, we’ve got return visitors! There are actually people who have emailed us back!Don’t forget! HEY MONEY is your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:Question 1:* “I was previously featured on episode 291. I bought a home in New Jersey for $148,000 with $1110 monthly payment on the $114K mortgage at 2.75%. My other expenses come to $400 per month. I’m making $47,000 per year, hoping to increase my income in the future. My Roth IRA is up to $34K now, and my student loans are down to $11K at 3%. A 1-year emergency fund is about $20K to me, so what do I do with that money?“Pete: She lives well within her means and is incredibly stable. What should she do? With relief options available, wiping out student loan debt wouldn’t be the highest item on my list.Damian: She’s got some opportunities as this point. with nearly two years of savings sitting there waiting. She could get rid of student loans entirely. She could max out funding retirement accounts. And she’s not in a rush, not even being 30 years old yet.Question 2:* “Bryan here again…my girlfriend and I, both 26, currently lease an 700 sq. ft. apartment in Westchester, NY for $2600 per month. For our next place, I’ll be working from home more due to COVID-19. We want more space now, so I see our options as rent a 2 BR apartment for $3K per month, but hearing of a possibly disastrous rental market coming. Or purchase a townhome, running at least $750K with 15% down, and 3% interest, for a monthly fee of about $4K per month. I’m hesitant to commit due to other homeownership costs and our short-term interest in a house. What do you two think?“Damian: I would not want to be tied into an interest-only mortgage with all that’s coming. Renting is the only answer here.Pete: I hate interest-only mortgages with a passion. Ask the landlord for a month-to-month agreement for added flexibility.* Tune in for the featured segment. The light-hearted conversation about the serious topic of finances never stops! Click PLAY below for the full show.

Have a question? Get some expert answers. Email us: askpete@petetheplanner.com On this episode of the Pete the Planner Show, Peter and Damian realize that the show is so good, we’ve got return visitors! There are actually people who have emailed us bac...

HAVE A QUESTION? GET SOME EXPERT ANSWERS.EMAIL US: ASKPETE@PETETHEPLANNER.COMOn this episode of the Pete the Planner Show, Pete and Damian, use 3/4 of the show to tell and answer ONE question and cover the greatest segment in the history of this show.Don’t forget! HEY MONEY is your new secret weapon for advice in your personal finances.No time to listen? BUMMER. Here’s some of what happened:Show Notes:Question 1:* “I’ve got an unusual conundrum. On a previous show, you said that a landscape artist shouldn’t aggressively pay off his mortgage during a pandemic. What if you already had the cash to do so? My wife and I bought our home 11 years ago with

Have a question? Get some expert answers. Email us: askpete@petetheplanner.com On this episode of the Pete the Planner Show, Pete and Damian, use 3/4 of the show to tell and answer ONE question and cover the greatest segment in the history of... Read More