M$D: N/A Meet Princess Leia (or, if you’re a longtime listener and heard her first episode, welcome back Princess Leia) Leia’s main concerns, in her words: I was featured on your podcast a little over a year ago and you gave me the name Princess Leia… Rest in Peace, Carrie Fisher. I was hooked and practiced what I learned from your podcast and book. Maybe this is breaking the rules… but I’d love to speak with you again. A lot has changed from a year ago, and I mean a lot. I know you don’t have t...
Jan 31, 2017•32 min
Topic: Retirement Checklist Special Kudos: Ann, our listener of the week who suggested this topic No matter what your age, you’re going to walk away from this episode with either a wake up call and a list of what to do next or…the opposite of a wake up call? A go-back-to-sleep call? And the reassuring feeling of being on the right track. We will cover: * Income sources in retirement * Major financial obligations * Healthcare Plus I drop a little info about PTPTV, the next big thing here at the P...
Jan 26, 2017•40 min
M$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.
Jan 17, 2017•26 min
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 attacked the college spending issue from the wrong direction—focusing too heavily on post-funding ra...
Jan 12, 2017•40 min
M$D: 10/3/2026 Meet Ed Age: 38 Ed’s main concerns, in his words: In 18 months, we went from supporting two people on two full-time incomes to supporting five people on one. We now have 1 full-time and 1 part-time income. We have been able to save for retirement and pay off debt even after the income reduction, but are now having trouble deciding if it is okay to begin spending some of the money or if we should put more towards kids’ college and retirement. We also received some inheritance money...
Jan 10, 2017•26 min
Topic: Fresh Starts Special Guest: Marc Williams, A.K.A. Mr. Kinetik, A.K.A. Mr. K This week I talk Fresh Starts for the new year with my friend Mark Williams. Financial goals—how do we make them and how do we keep them? I go over four ways to start your financial new year off on the right foot. Check out Mark on his Twitter, Bandcamp, or website.
Jan 05, 2017•40 min
M$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 $36k/year. Need to pay off credit card debt and save. I would also like to start investing or supplementing our income.
Jan 04, 2017•24 min
Topic: Charity Special Guest: Steven Shattuck from Bloomerang.
Dec 22, 2016•41 min
M$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 $7,800 additional in raises over 2 years. Went to grad school for nerdy tech/engineer stuff, and now have an offer for a role that would be 20k difference from my current rate.
Dec 21, 2016•26 min
The post Ep. 124: Essential Truths appeared first on Pete the Planner®.
Dec 15, 2016•40 min
M$D: 12/29/2037 Meet Judy
Dec 13, 2016•26 min
Topic: Healthcare Special Guest: Paul Ashley from FirstPerson.
Dec 08, 2016•42 min
M$D: N/A Meet Joey Age: 26 Joey’s main concerns, in his words: I used to be a budgeting boss but now that I am the boss I’m a lifestyle creep – maybe. It felt easier to budget and handle money when our income was modest and followed a straight line. I need help thinking through how much money I should feel okay about spending. Should I save a certain percent or amount and then get a free pass to spend the rest on whatever I want? My income has grown significantly over the last few years and my w...
Nov 15, 2016•34 min
Topic: Power Percentage * Why we need it * How to calculate it * The scale * 10% and below – Eh * 11% to 20% – OK * 21% – 34% – Getting there * 35% and above – Perfect
Nov 14, 2016•42 min
M$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 people, I’m hit with all the reasons why that’s impossible. I’ve done the math, the retirement calcul...
Nov 08, 2016•25 min
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 having a very good year” * Your contributions are the key. * Manipulation * Risk Tolerance * A snapshot o...
Nov 04, 2016•40 min
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 ($2036.44 per month into my 403b (including 9.5 % match), and maxing out both of our Roth IRA’s ($91...
Nov 01, 2016•28 min
Topic: This week, I answer your emails. Subscribe on iTunes | Subscribe on Stitcher Want to be a guest on the The Million Dollar Plan podcast? Apply Here
Oct 31, 2016•40 min
M$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, making about $55,000 per year. I’ve heard a lot about the Public Service Loan Forgiveness program, ...
Oct 25, 2016•32 min
Topic: Action What we cover: * How to get out of a financial rut and get your motivation up * The importance of doing something * Why action is the key to a successful financial life * What is the financial equivalent of a FitBit? * The emergency isn’t when something happens, the emergency is generally the result of your reaction to an event Subscribe on iTunes | Subscribe on Stitcher Want to be a guest on the The Million Dollar Plan podcast? Apply Here
Oct 25, 2016•32 min
Topic: Action What we cover: * How proactive activity leads to a successful life and how reaction leads to regret. Subscribe on iTunes | Subscribe on Stitcher Want to be a guest on the The Million Dollar Plan podcast? Apply Here
Oct 21, 2016•41 min
M$D: 6/17/1945 Meet Steve Age: 28 Steve’s main concerns, in his words: Hello. I am a 28 year old guy who works as a Public Defender. I am in a long term relationship that will lead to an engagement very soon (ring is already purchased), and my future-fiancee is currently in a 2 year masters program. I’ve recently paid of all consumer debt, but still have ~$83,000 in student loan debt from law school that I am not attacking because I am participating in the Public Service Loan Forgiveness plan. A...
Oct 12, 2016•35 min
