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 recently, most of it was reinvested but we were wondering what to do with the rest of it.
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Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.