Should I Pay Off My Mortgage Before Retirement?
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…
Category Archives: Retirement
Want a Good Lesson in Financial Planning? Study How Well Your Parents Did or Didn’t Do
The look on the man’s face was one I’ll never forget. Five seconds prior, his wife unleashed a verbal blast heard around the world. Fine, it was just my office. “As long as we don’t end up like his parents,…
Why waiting 3 more years for benefits will help this 66-year-old
Hey Pete: I’m 66 years old, still working, a year away from taking social security, and I’m wondering how in the world I’m going to make the $80,000 in my retirement nest egg last the rest of my life. I have…
Layoffs: 3 Steps to Take When You Lose a Job in Your 50s
I don’t know why my father insisted that a book about career change was a good idea for a 20-year-old college junior, but nonetheless I found myself reading Who Moved My Cheese? in the fall of 1998. The wildly…
What Happens to Your 529 if Your Kid Gets a Full Ride Scholarship?
Saw your piece in USA Today, July 30, ’16. ‘Earning a scholarship creates an exception to the 10% penalty rule for non-qualified withdrawals.’ Luckily we’re in that situation. Question: Does a non-qualified withdrawal equal to the scholarship have to be…
Is Term Life Insurance Worth Paying for at Age 70?
Dear Pete, I have always been good with money, and my wife of 50 years and I have zero debt. Taxes on our home are about $8,000 a year. We have about $700,000 in savings, and are both 70 years old….
How to Break Down Job Offers Into What Matters Most to You
I’m 56 years old and I have two job offers that I need to decide between within the next day. (Each only gave me 48 hours to make a decision.). Offer #1 is with a high-tech company that offers $26,000…
Ep. 291: Raven
This week on The Pete the Planner® Show, we meet Raven. Raven has all the right things going, in all the right places. She’s been actively paying down her student loans and is ready to get serious about her housing…
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Ep. 286: Thanksgiving edition
This week on The Pete the Planner® Show, we’re getting into the holiday spirit! Well the Thanksgiving spirit, that is. We can’t go a show without answering one of your money questions, so we kick off this week’s episode with a 529 question,…
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Ep. 285: Stella
This week on, The Pete the Planner® Show, we meet Stella. She’s never been one to save and is feeling the repercussions as she prepares for retirement. Stella has carried some bit of debt for a majority of her adult financial life and is…
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