Ep. 399: How Our Financial Views Have Evolved Decade x Decade!

We want to answer your questions about money. Email us: askpete@petetheplanner.com

This week on the Pete the Planner Show, Pete is not a cat, but he and Damian crrrrritique comments from Dave Ramsey!

Remember: 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 and when:

Show Notes:

HOW OUR FINANCIAL VIEWS HAVE EVOLVED: [5:00]

  • For a lot of people, when they think about their financial lives and major goals, wealth ends up being their primary aim; that makes sense. Pete used to be “a lot of people.” His relationship with money has since evolved. But first, Damian…when do you consider yourself and adult?
    • Damian: Post-college, you’re almost expected to make some low mistakes between 18-22.
    • I was knee-deep in saving money as quickly as I could. I was fortunate to not have car expenses and living expenses were low, so I stashed away a lot. I was entirely a saver at that point.
    • My dad used the kitchen table for managing everything, so these concepts were part of my normal, everyday life.
    • I transitioned into investing with my first real job, mid-20s.
    • Currently, at 43, successful retirement means not needing a lot of money, and not having a lot of money.
  • Pete: I got started in high school doing Roth IRA-style investing. In college, I was day trading…a lot. At 22, my goal was to establish a lifestyle so I could have what I wanted. I was a financial advisor.
    • At 26, things were going well. So my next financial goal was to make more money than my dad had earned at the high point in his life. In retrospect, I realize that wasn’t a great goal. 
    • Pete the Planner® started at around 27.
    • At 28, I began saving and investing with purpose. The materialism began to fade.
    • I used to give really aggressive advice early. I didn’t see that people have different realities, sometimes based in systemic racism and poverty.
    • I used to aspire to have wealth, then I aspired to have flexibility (money and time), now I understand the currency of attention.


DAVE RAMSEY’S STIMULUS REMARKS:
[27:20]

  • You know how the show notes go by now! We love you, so we help you get the gist of things if you can’t listen, but we can’t give you all the goods!
    • LISTEN TO THE FULL SHOW FOR THE LATEST SCOOP

 

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


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