Ep. 394: Who Knows the Financial Details of Your Life?

Get expert answers to your questions about money. Email us at: askpete@petetheplanner.com

This week on the Pete the Planner Show, Pete would like to note that his voice is back! Oh, and if you’re interested in a money makeover, check out the note below. Once you do that, we will get into our 13th (or 14th) year of answering your financial questions.

NOTE: In the first six months of 2021, we’re going to make over five families’ financial lives, LIVE on the air! WE’RE GIVING AWAY FIVE FREE HEY MONEY, MEMBERSHIPS to walk with them across six months telling their stories about their struggles in personal finances.

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

Show Notes:

REMINDER on WHAT WE DO: [4:30]

    • We help you with the numbers in your life – your financial future. While you might think it is about math, it’s really about the words that run around in your head: your emotions, your thoughts and feelings. If we can help you come to terms with your behavior in an approachable, conversational, realistic way, you’ll have a wonderful financial life.”

 

THE MARKET DOESN’T CARE ABOUT CURRENT EVENTS: [7:15]

    • The market was up 700 points just prior to the Capitol riot. It closed that same day just over 500 points.
      • Damian: I disagree with the premise. Another tragic event of a 9/11-type of magnitude would send certainly shockwaves through the market and cause issues.
      • In a way, it’s almost reassuring that there is some separation between the markets and the economy.
      • Pete: You can gain some perspective by seeing what the market thinks of this current event.
      • There were regrettable things that happened, but in the grand scheme of things, the market deems it insignificant overall.

 

WHAT HAS YOUR MONEY DONE IN THE LAST 10 YEARS?: [16:30]

    • If your money was in the S&P 500, in the last 10 years, what rate of return would you expect to earn on an annual basis over that 10-year period? 
      • Damian: In 2020, 16.25%  — The 10-year average: 13.53%
      • Pete: To level-set, for someone with a moderate-aggressive risk tolerance, we think between 8-9% is realistic to calculate long-term future values.

 

WHO KNOWS INTIMATE DETAILS ABOUT YOUR FINANCIAL LIFE?: [22:37]

 

There’s so much more in the full show, including the laughs!  — click PLAY below for the full show.


Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money.

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