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This week on the Pete the Planner Show, Pete and Damian haven’t the foggiest about what’s going to happen! Hey, it happens to all famous people.
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. Check us out!
No time to listen? BUMMER. Here’s some of what happened and when:
NET WORTH AVERAGE / MEDIAN BY AGE: [2:32]
- “What is net worth?”
- Damian: “It’s what’s left over. …after calculating assets minus debts.
- It should really go up all the time.
- There are many ways to make your net worth go up: pay down debts, save money, invest money, your investments going up in value, etc.
- Ages of Americans and their net worth:
- <35 years old: $76,300 (average) — $13,900 (median)
- 35 – 44: $436,200 (average) — $91,300 (median)
- 45 – 54: $833,200 (average) — $168,600 (median)
- 55 – 64: $1,175,900 (average) — $212,500 (median)
- 65 – 74: $1,217,700 (average) — $266,400 (median)
HOW TO INTERVENE WHEN YOUR FRIEND IS STRUGGLING WITH MONEY: [27:05]
- Billy is struggling. Dave is the friend who notices.
- Pete: Dave’s job isn’t to solve Billy’s problem. Listen empathetically, instead. Validate their feelings (“Yeah, I would feel that way, too.”)
- Damian: Encourage Billy to find someone to talk to. People just need to be heard a lot of times.
There’s so much more in the full show! — 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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Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.