Ep. 255: Helicopter Parents & Entrepreneurship

This week on The Pete the Planner Show, Pete answers more of your money questions. And, for the first time ~ever~ I’m on the other side of the control room!!! I join Pete in the studio this week and let me tell you, it might be something I could get used to. We dive into this week’s episode with an email from a parent who just wants the best for his son.

My son recently married, they are both 25. His wife is a pharmacist and took on over $200,000 in debt for her degree. They use one joint account to pay all of their combined bills. So, obviously, my son is paying toward her student loans. I’m not sure he should be paying her loans, but that is his decision. Should her debt become his financial responsibility as well? What are your opinions?”  

We have a few opinions on this one. Pete and I unpack this question Hollywood Squares style and deliver an answer… eventually. We next answer a question from an emailer who saw Pete speak earlier in the week.

I would like to be an entrepreneur sometime in my career, when do you think it is the best time to start my own career? And what should I do, or what resources do I have, if I go broke/ bankrupt?” 

This one is a bit of a doozy, however, it’s a question we couldn’t pass up.

Then Pete threw a heavy hitter and asked, “What is the one thing missing in peoples’ financial lives?” To answer this, Pete breaks down the history of financial wellness and what has changed in not only retirement savings but also the climate of our culture since our grandparents were in the workforce. And of course, to wrap up our episode, we’ve got another biggest waste of money of the week for you. Cheers! 

Want to have your question answered on air with Pete? Submit your money question to askpete@petetheplanner.com. You never know, your question could be featured in our next episode!


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