In a 2018 research study of American household’s financial lives, 15% of the adults surveyed were “workplace-only investors.” That is, they invested in stocks and bonds, but only through their workplace retirement accounts. What the survey found was that these…
As the COVID-19 crisis continues, the severity of the economic impact on households is becoming clearer and more widespread. For some, the impact may be prolonged. As the ability to postpone creditor payments diminishes over time and emergency savings whither,…
Dear Pete, I’m 58 and for the first time ever, retirement seems real to me. The problem is, I don’t have any money. I make a lot ($200k a year) at my new job, but due to a large number…
Pete, Some of my friends are opening Roth IRA accounts and telling me what a good idea they are. I understand how they’re different from a normal IRA account, and I think I’d like to open my own account, but…
In episode 333 of the Pete the Planner Show, Pete and I found ourselves discussing the role that time plays in our investing lives. The short version is this: The younger you are when you begin investing, the more of…
Damian, I keep hearing people talk about the coming recession. I know you can’t tell me when it’s going to happen, but what should I do to make sure I’m prepared for when it does happen? – Emily —————— Hi…
Hey Damian, I’ve been reading a bit on freezing my credit and I guess I’m on the fence about it. It seems like unnecessary work when I could just use the credit monitoring service I pay for and get the…
My brother-in-law and I were talking about investing recently and I told him the big swings in prices make me a bit nervous. He told me that “his guy” uses “stops” to make sure he doesn’t lose money. What’s up…
Dear Pete, I have seven years until retirement, and I still owe about $63,000 on my mortgage. My home is slated to be paid off in just under 10 years. I have an extra $750 per month right now, and…
On March 11th, President Trump released his 2020 Budget Proposal. The 150-page document included cuts for many programs, including but not limited to education. It’s no secret that student loan debt becomes an ever increasing problem for students and their…