Ep 350: Coronavirus! But More Importantly, Retirement.

Have a question? Let us know! askpete@petetheplanner.com

This week, VIRUS ALERT! And yet, all things considered, we still understand that things in the market cycle. Pete and Damian return with a special offer for the new consumer service, HEY MONEY! Also, retirement is a journey with many paths. Let’s discuss.
Can’t listen? Check the Show Notes!

Show Notes:

  • Announcement: HEY MONEY IS LIVE! For the last 15 years, Pete has been trying to figure out how to offer very affordable financial guidance to the masses. Now, the technology and the timing have met in a perfect marriage to make this possible. Be an early adopter. — Listen to the show for the special 10%-off offer code! — Ready to get started? Subscribe here: www.CallHeyMoney.com

  • Coronavirus: *Due to its time-sensitive nature and in order to maintain proper context, check out the show to hear what Pete and Dame think of the recent market drops, fears, and forecasts!
  • Question #1 – Retirement: Our writer, 53, has but $4,000 in his 401(k). Approx. 5 years ago, he suffered an injury and has been on disability from work as a flight attendant. To make ends meet, he dipped into 401(k) and savings. Better now, he returns to work in April of 2020 and can fly/work as much as he wants (140 hours/month-ish). He makes $68 per hour and has $30,000 in savings. He wants to buy a house, as he sold his previous house in 2017. — “WHERE SHOULD I BEGIN TO GET MY LIFE BACK ON TRACK?”
    • DAMIAN: It’s good that he knows there’s work to do. Considering he will be on the road a lot, maybe his expenses will be lower than normal? In any case, He should control expenses for the foreseeable future. By doing that, he should stash a bunch of money away toward retirement and lingering (likely medical) bills to pay off. Finally, the likelihood of paying off the home before retirement is low at this point…so it may not be worth being a high priority.
    • PETE: This calls for some pretty intense problem solving that requires a plan and then to work the plan. It’s going to take some time to rebuild stability on a short and long term basis. Becoming a homeowner sounds like a massive distraction. Especially since he works away from home for stints at a time.


Click PLAY below to hear this and more AND to get your special offer code!

Leave a Reply

Your email address will not be published. Required fields are marked *