The Pete the Planner® Show

Latest Episodes:

Ep. 441: How common is insider trading, and are you at risk? Jan 25, 2022

Show notes

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, we’re exploring three main topics:

Is cash about to become popular again?
Why did Netflix and Peloton have the worst week ever?
How common is insider trading, and are you at risk?

Here’s a preview of what happened and when:

Show Notes:

More stores are giving cash discounts

Is society’s move to cashless, short-lived? A recent trend in cash discounts suggests that cash is making a comeback. Dame and Pete explore whether or not that’s practical.

Pete and Dame discuss why Netflix and Peloton’s stocks crashed

Turns-out, people want to go outside when the pandemic is over.
Netflix has hit a subscriber ceiling, possibly.

You always hear about insider trading, but how common is it

Unless you are an executive at a publicly traded company or you’re in the investment business, insider trading is pretty rare. That is unless you’re a congressperson, allegedly.

Click the PLAY button below for the rest of the show!

SIDE NOTE:

— Give your personal finances a facelift. Explore our personal guidance platform: Hey Money. —

The post Ep. 441: How common is insider trading, and are you at risk? appeared first on Pete the Planner®.

Ep. 440: Should you care if your financial advisor is an avid gambler? Jan 18, 2022

Show notes

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, we’re exploring three main topics: Can an emailer retire, whether or not you should be bothered by your advisor’s sports gambling, and how you can avoid the impending tax refund delay. Oh, and Pete may have been over-caffeinated.

Here’s a preview of what happened and when:

Show Notes:

Emailer asks questions, saves words for himself

Hi. We’re 55. 4.6m net worth, 1m of which is in our home. 2 private colleges funded
0 debt. 120k a year all in spending and we can easily cut back
Estimate 5k a month SS in 12 years or more waiting to 70.5.
Can we retire? P.S. 60/40 portfolio. 6% rebalancing bands.

Pete and Dame debate the relevance of a financial advisor’s sports gambling

As it turns out, it bothers both Pete and Dame. But they admit they’re likely way over-sensitive to this topic.
Gambling and investing are not the same, but sometimes people approach investing like they approach gambling, which is where things start to go horribly wrong.

The IRS is incredibly understaffed, which means tax refunds could be severely delayed this year

In the first 6 months of 2021, 15,000 IRS employees tried to handle 240 million calls. Yeah, that didn’t work.

Click the PLAY button below for the rest of the show!

SIDE NOTE:

— Give your personal finances a facelift. Explore our personal guidance platform: Hey Money. —

The post Ep. 440: Should you care if your financial advisor is an avid gambler? appeared first on Pete the Planner®.

Ep. 439: Market Review for 2021 PLUS Our Picks for 2022 Jan 11, 2022

Show notes

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, we’re still saying Happy New Year!

Ep. 438: Three Smart Money Moves to End 2021 & Start 2022 Dec 28, 2021

Show notes

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, a bonanza of Dunns! Damian is back, Pete’s here, and they bring on the most special guest co-host, Pete’s very own son: Theo “Ted” Dunn!

No time to listen to the LAST SHOW OF 2021? Here’s a preview of what happened and when:

Show Notes:

SPECIAL NEWS ALERT: FEDERAL STUDENT LOANS PAUSE EXTENSION: [5:55]

On December 12, 2021, President Biden extended the pause on federal student loans until May 1, 2022. Payments had been set to restart on February 1, 2022.
Approximately 41 million individuals had their loans put into administrative forbearance as part of the CARES Act nearly 2 years ago effectively removing the requirement that they make monthly payments to the government. The deadline has been extended by both Presidents Trump and Biden.

Borrowers will continue to have the option of not making any student loan payments due on their federal student loans, though they can resume making payments at any time. Any payments made during this pause will be applied against the principal of the loan as interest has been paused during this time, as well.
- PETE: I am surprised, but not shocked.
- DAMIAN: People are appreciative, but upset about this news. The conversation was previously about forgiving (some) of the Student Loan debt.
- PETE: The perfect time to restart this, politics aside, is actually now.
- DAMIAN: There may be a tax return coming in around that time, to possibly help ease the transition back into payments.

THREE SMART MONEY MOVES: [22:30]

Let’s begin with Employee Benefits. Instead of waiting until open enrollment, get into your portal and ask yourself the critical question: “Am I okay with this current path?”
- DAMIAN: Maybe it’s looking at any new changes to the benefits from over the year(s). Minor changes to health plans, or retirement accounts, are all to be considered.
- PETE: Ah, the annual rebalance. This is a good time of year to take a look at what’s happening across the entire financial landscape of your life.
- DAMIAN: Look to see if there is an automatic rebalance option.
- Second money move: Conduct a household financial meeting
- DAMIAN: Use this time (even 30 minutes) to do a household finance S.W.O.T analysis and set some financial goals for the new year
- Third money move: Look at your checking account more critically.
- How could you improve the flow of your money? What patterns do you see?
- DAMIAN: We’re not talking about huge changes, but remember that small changes can lead to big differences over time.

We only show a few previews here, but don’t stop you from enjoying the whole show.

Click the PLAY button below for the rest of the show!

FINAL SIDE NOTE OF 2021:

— Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money. —

The post Ep. 438: Three Smart Money Moves to End 2021 & Start 2022 appeared first on Pete the Planner®.

Ep. 437: Talking Modern Money with Special Guest: Joe Saul-Sehy Dec 21, 2021

Show notes

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 brings a friend and special guest co-host, Joe Saul-Sehy from the podcast Stacking Benjamins!

No time to listen? Here’s a preview of what happened and when:

Show Notes:

Looking for the TL;DR summary? This conversation is too fun not to check it our for yourself. From cryptocurrency to Joe’s latest book, “STACKED: Your Super‑Serious Guide to Modern Money,” you can tell they both have had long histories of being on-air.

Play the rest of the show for more! — click PLAY below.

SIDE NOTE:

— Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money. —

The post Ep. 437: Talking Modern Money with Special Guest: Joe Saul-Sehy appeared first on Pete the Planner®.

Ep. 436: HELP! My Employer Doesn’t Have A Good 401(k) Plan Dec 14, 2021

Show notes

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 pushed his limits tooooo far with a giant 2PM cold brew coffee.

Ep. 435: Discretionary Spending + Financial News Rundown Dec 09, 2021

Show notes

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 abandoned the show opening tune and got scolded by Damian! Whew!

No time to listen? Here’s a preview of what happened and when:

Show Notes:

MAILBAG QUESTION #1: [5:05]

“Dear Pete, I heard colleagues talking about discretionary spending this week. It got me thinking about how much money I allow myself to spend in any given month. I typically give myself some cushion for dinning out and a random purchase here or there. Beyond that, I tend to keep a pretty low balance in my checking account because I tend to spend more responsibly if I limit the amount of money I have access to. How do you think about discretionary spending?
- DAMIAN: Discretionary spending is actually planned, you just don’t know what you’re spending it on yet.
- DAMIAN: It’s quite variable, so don’t compare yourself to other families in this category
- PETE: You’re giving yourself an allowance; what you spend it on is what’s discretionary. It took an ugly turn when online banking came out. The debit card makes spending all too easy.
- PETE: You have to find a way that works for you. You don’t need to keep boatloads of money in your checking account.

The Dunns cover so much more in the full show! Don’t let this little teaser stop you from enjoying the whole thing.

Play the rest of the show for more! — click PLAY below.

SIDE NOTE:

— Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money. —

The post Ep. 435: Discretionary Spending + Financial News Rundown appeared first on Pete the Planner®.

Ep. 434: Let’s Play, ‘Will You Need That Much?’ Nov 23, 2021

Show notes

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 get into the show in record time!

No time to listen? Here’s a preview of what happened and when:

Show Notes:

MAILBAG QUESTION #1: [2:07]

“Hey Pete, honest question: given recent content around inflation and changing conventional knowledge about drawdown rates… My wife and I generally set aside $50,000 – $60,000 annually for retirement, including employer matches. We have 25-30 years until retirement and our savings is about $430,000. We max out one 401(k), we’re also funding two 529s and making weekly contributions into brokerage accounts. We have a very aggressive risk tolerance, but assume conservative returns for long-term planning. Despite all of this, most retirement calculators have us coming up short because they assume we’ll need 75%-80% of our current income in retirement. Our income is slightly variable based on annual bonus potential and whatnot. But shouldn’t we reduce the amount of annual retirement income we’ll need by what we’re currently saving? At the point of retirement, we’ll be drawing down our balance rather than actively contributing so it seems that it should be reflected in the assumed need…
- PETE: I major beef with retirement calculators. Do they assume people won’t reduce their expenses at all?
- DAMIAN: Most people don’t want to live on less in retirement. Hopefully your health will be in good condition, and you may end up spending more with the extra time on your hands.
- PETE: Most people accumulate priorities without shedding priorities
- DAMIAN: That can be an absolute retirement plan killer.

WILL YOU NEED THAT MUCH?: [13:50]

Let’s look at the Ideal Budget and play a game. Do you think you will need more or less of the following expenses in retirement?:
- HOUSING (25%) of your income: Damian – Less. Pete – Less
- TRANSPORTATION (15%): Damian – Maybe a push. Pete – Less
- FOOD (12%): Damian – Less. Pete – Maybe about the same.

Review the rest of the Ideal Budget with the Dunns in when you listen to the full show!

Play the rest of the show for more! — click PLAY below.

SIDE NOTE:

— Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money. —

The post Ep. 434: Let’s Play, ‘Will You Need That Much?’ appeared first on Pete the Planner®.

Ep. 433: Retirement – Digging Deep Into the 4% Rule… Nov 16, 2021

Show notes

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 revisit a #FAIL of their own: the intro music to the show.

No time to listen? Here’s a preview of what happened and when:

Show Notes:

DIGGING DEEP INTO THE 4% RULE: [6:33]

One of the weird things about saving money into a retirement plan for 45 years is your find yourself perpetually in the accumulation phase. You don’t really think about the distribution phase. It can be hard to stay focused and remember why you’re doing it. The industry rallied around this idea that you should calculate how much your nest egg will generate by multiplying your nest egg by 4% and that will tell you how much you can safely withdraw annually without the fear of running out of money. This past week, a paper was published suggesting the new number should be 3.3%.
- PETE: This means a $500,000 nest egg at retirement would then drop from $20K to $16,500 per year without the fear of running out of money.
- DAMIAN: $500,000 sounds cool, but that’s a pretty small number when you break it down with maths.
- PETE: If more people calculated a proper withdrawal rate at the midpoint in their career, I think it would make people get on their horse a bit more when thinking about retirement.

IRS CONTRIBUTION LIMITS HAVE CHANGED AGAIN!: [19:45]

Every year, the IRS puts together the increases in contribution limits people can put into retirement vehicles and other things. Their changes are always shockingly predictable. Special note: there has been a lot of criticism lately as this relates to the income gap and how retirement plans unfairly reward those with money, which in turn, leaves people with no money behind.
- In 2021, if you were to max out a 401(k) or 403(b), you could put in $19,500. It used to be $18,000 some years ago.
- PETE: One of the ways people can prepare for the retirement crisis is by putting away the right amount of money. By not moving the limits up, in some respects could dissuade people from properly planning for retirement.
- DAMIAN: In the year 2000, it was $10,500. In 2005: $14,000. In 2010: $16,500. In 2015: $18,000. In 2022: it’s $20,500….if you’re 49 years old or younger.

Find out why we think this is problematic in the full show!

Play the rest of the show for more! Check it out in the full show! — click PLAY below.

SIDE NOTE:

— Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money. —

The post Ep. 433: Retirement – Digging Deep Into the 4% Rule… appeared first on Pete the Planner®.

Ep. 432: Does Being ‘Dependable’ Make You Financially Stable? Nov 09, 2021

Show notes

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 could be the biggest business FAIL of all time! No... Read More

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