Is A 3-Month Emergency Fund Enough?
For years you have likely heard that you should have an emergency fund equal to three months of expenses. But in 2020, is that enough? There are two reasons why it may not be: First, the country has entered a…
Category Archives: Saving
COVID-19 Notes: The EIP Stimulus Check
We frequently answer questions regarding the Economic Impact Payments (EIP), or stimulus checks. In order to provide you an easy to access resource, we’ve compiled a number of those questions and answers here. If you have additional questions that aren’t…
Is 58 too old to buy my first home?
Dear Pete, My husband and I are wanting to purchase our first home. We are 58 years old and are concerned that we are too old, and will have a hard time getting a mortgage. Should we buy or continue to lease?…
Pete the Planner launches Hey Money®
For immediate release Media Contact: cherylreedright@gmail.com You Have Financial Questions. ‘Hey Money’ Has Answers. First-of-its-Kind, On-demand, Affordable Financial Guide Launches Today INDIANAPOLIS — (February 24, 2020) — Americans know they need to save more and spend less money…
My husband wants me to retire with him, but he’s 10 years older with no life insurance. What should I do?
Dear Pete, I’m worried about what will happen to my retirement income when my husband dies. I’m 52 years old, and he’s 62. He’s made much more money than me for years, and I personally don’t have many assets. He…
I’m 58 and have no retirement savings. Is my financial life ruined, or is there still hope?
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…
Should you share a checking account with your spouse or keep separate bank accounts? It depends.
Dear Pete, My wife and I have been married for seven years this February. We get along great, except for one minor issue. Well, it’s not that minor. She spends a tremendous amount of money, which makes achieving our financial…
Where to Start …and Finish?
With the hullabaloo of resolutions settling down, let’s start fresh. Not everyone who reads this blog or listens to the podcast wants to concern themselves with seemingly trivial things like a safe withdrawal rate, or updating their net worth regularly,…
Getting Started with Investing
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…
Could a retiree outlive his savings even with a part-time job? Possibly.
Dear Pete, I just retired at 60. I am a single, head-of-household male with no children. When I retired, my annual salary was about $120,000. I have had my mortgage paid off for about four years and have no monthly debt load. I have approximately…