Ep. 360: July Could Get Ugly; Is A New Stimulus Coming?

Have a question? Get answers. Email us: askpete@petetheplanner.com

More changes could be coming to our economy.  Although here, Pete and Damian are back in the mailbag,  answering financial questions from our amazing listeners. 

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No time to listen? BUMMER. Here’s some of what happened:

Show Notes:

  • Our Economy:
    • So far, our federal government has put up about $3 trillion to help sustain America while we wait out the virus. This includes: stimulus payments, PPP for small businesses, and enhanced unemployment. It’s kind of working. July looks like it could possibly an uneasy month; these programs are set to come to an end.
    • The potential next phases of plans to help stabilize Americans through direct payments, to date, is quite unclear and honestly, problematic. This situation is really difficult to address.
    • Here’s a takeaway: Businesses, put your people first!

Mailbag Question 1:

    • Our writer says their current employer doesn’t have a 401(k) match program, but s/he has been contributing on their own for 10 years. They’ve received a new job offer, however it pays $60,000 LESS than the current job. However, they do offer 10-year pension and s/he can still contribute to 401(k) independently. “Is this worth it?”
      • Hmm… Making $60,000 LESS, how can the person afford to make 401(k) contributions? This person might want to stay where they are. Pensions are consistently dropping in popularity.

      • More questions to dig at more information: What’s the writer’s margin? Income? What are you spending right now? This missing information here really could change the shape of the entire answer.



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