The Pete the Planner® Show

M$D: January 28, 2024 Meet Mark. Mark’s main concerns, in his words: I have 300k in retirement savings. Putting $3000 a month toward retirement in Roth 401k and 457b plans (We make too much for a Roth IRA).  Have $170,000 in student debt. Three kids and 529 plans for each of them. We want to make sure we are putting money in the right places to minimize tax implications. Should we be paying off de...

In this episode I talk about financing. Surprisingly, I haven’t touched on this topic much yet. But today, I got fired up about it. Over and over again, I’ve come across people who have ruined their financial lives by financing a purchase they couldn’t afford outright. Making a big purchase isn’t about affording the payment, it’s about affording the purchase. Of course, I want you to afford the pa...

M$D: July 16, 2034 Meet Penny. Penny’s main concerns, in her words: Hi Pete. I just discovered your podcast a week ago and have listened to 30 episodes so far and have already made some changes to my financial life (like not having huge amounts of money sitting in savings account). I need help with budgeting and making sure I am on the right track where I am at in my life. I am a single lady livin...

In this episode of the Pete the Planner® Show, I talk visualization. If you are wandering aimlessly through your financial life, this is the key you are missing. Visualizing the financial life you want is a great tool to get you motivated to achieve it. You use visualization every single day. For me, it’s usually food. Any given day you can find me visualizing the Fat Havana Burger from Fat Dan’s....

M$D: June 16, 2033 Meet Bernard. Bernard’s main concerns, in his words: I’m not completely sure how to plan effectively for my retirement. My wife and I are both public school teachers. In our state, we will receive a pension when we retire. We each have a 401k from our previous jobs as private school teachers. Combined, we have about $95,000 in those. Our pension will be equal to 2/3 the average...

M$D: N/A Meet Princess Leia (or, if you’re a longtime listener and heard her first episode, welcome back Princess Leia) Leia’s main concerns, in her words: I was featured on your podcast a little over a year ago and you gave me the name Princess Leia… Rest in Peace, Carrie Fisher. I was hooked and practiced what I learned from your podcast and book. Maybe this is breaking the rules… but I’d love t...

Topic: Retirement Checklist Special Kudos: Ann, our listener of the week who suggested this topic No matter what your age, you’re going to walk away from this episode with either a wake up call and a list of what to do next or…the opposite of a wake up call? A go-back-to-sleep call? And the reassuring feeling of being on the right track. We will cover: * Income sources in retirement * Major financ...

M$D: N/A Meet Aaron Age: 29 Aaron’s main concerns, in his words: We just got married on July 22nd and would like to be financially literate and on the same financial page. We are fortunate enough to have our condo paid off but I do have significant student loan debt.

Topic: College Savings Special Guest: Troy Montigney, ‘The 529 Guy’, Executive Director of the Indiana Education Savings Authority This week we talk saving for college, specifically Indiana’s 529 plan. You may have heard me talk about this before in the form of a commercial on the radio. I’m happy to do these commercials because I believe strongly in the 529 plan.  I’ve often felt that society has...

M$D: 10/3/2026 Meet Ed Age: 38 Ed’s main concerns, in his words: In 18 months, we went from supporting two people on two full-time incomes to supporting five people on one.  We now have 1 full-time and 1 part-time income. We have been able to save for retirement and pay off debt even after the income reduction, but are now having trouble deciding if it is okay to begin spending some of the money o...

Topic: Fresh Starts Special Guest: Marc Williams, A.K.A. Mr. Kinetik, A.K.A. Mr. K This week I talk Fresh Starts for the new year with my friend Mark Williams. Financial goals—how do we make them and how do we keep them? I go over four ways to start your financial new year off on the right foot. Check out Mark on his Twitter, Bandcamp, or website.

M$D: N/A Meet Dave Age: 28 Dave’s main concerns, in his words: I am in medical sales and my wife is in procurement. Getting married next month. Share bank account. Combined, we make about $110k/year, but we always seem to have the same amount of money we had when we were single and making about $36k/year. Need to pay off credit card debt and save. I would also like to start investing or supplement...

Topic: Charity Special Guest: Steven Shattuck from Bloomerang.

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 diff...

The post Ep. 124: Essential Truths appeared first on Pete the Planner®.

M$D: 12/29/2037 Meet Judy  

Topic: Healthcare Special Guest: Paul Ashley from FirstPerson.

M$D: N/A Meet Joey Age: 26 Joey’s main concerns, in his words: I used to be a budgeting boss but now that I am the boss I’m a lifestyle creep – maybe. It felt easier to budget and handle money when our income was modest and followed a straight line. I need help thinking through how much money I should feel okay about spending. Should I save a certain percent or amount and then get a free pass to s...

Topic: Power Percentage * Why we need it * How to calculate it * The scale * 10% and below – Eh * 11% to 20% – OK * 21% – 34% – Getting there * 35% and above – Perfect

M$D: 8/5/2028 Meet Monica Age: 26 Monica’s main concerns, in her words: My income isn’t crazy high (active duty military), but I’m able to save  and invest 50-60% of my take-home pay depending on the month, while feeling that I live a pretty high quality life.  I have a somewhat closeted goal of being financially independent by 35. I say somewhat closeted, because if I reveal that goal to 99.9% of...

Topic: Patience * Housing Patience * Until you have a downpayment * Until you prove you can save money * Until you have an emergency fund * Until you can afford the 15 yr mortgage * Until you can afford a house which you’ll be able to sell later * Until you can buy a house which doesn’t prevent you from spending any money. * Market Patience * “Should I change my investments, the market isn’t havin...

M$D: 7/31/2026 Meet Tony Age: 28 Tony’s main concerns, in his words: I’m 28, my wife is 26. We have a 16-month-old son. Our main goal is to have enough money where I can semi-retire at 40 (or earlier), if I want, and work part-time/full-time for my father’s company. We earn about $110,000 a year and have $94,000 in retirement savings. Right now we are saving almost $3,000 per month for retirement...

Topic: This week, I answer your emails.   Subscribe on iTunes | Subscribe on Stitcher Want to be a guest on the The Million Dollar Plan podcast? Apply Here

M$D: 4/14/2051 Meet Malcolm Age: 28 Malcolm’s main concerns, in his words: I’m a little over a year out of medical school, doing a three year residency training program. I have about $312,000 in student debt, and make about $50,000 a year until I graduate in about two years, at which point I will make between $200,000 and $250,000 per year. My girlfriend is a graphic designer without student debt,...

Topic: Action What we cover: * How to get out of a financial rut and get your motivation up * The importance of doing something * Why action is the key to a successful financial life * What is the financial equivalent of a FitBit? * The emergency isn’t when something happens, the emergency is generally the result of your reaction to an event Subscribe on iTunes | Subscribe on Stitcher Want to be a...