Ep. 414: My 2021 Prediction was WRONG! 😫

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This week on the Pete the Planner Show, Pete and Damian are rested, recharged and energized from vacation and getting back in their (mail)bag! Pete calls his precious child to prove “Fun Dad Summer” is in full effect!

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?  Here’s a preview of what happened and when:

Show Notes:

REVISITING OUR PREDICTIONS FROM 2020: [2:40]

  • “I said there would be a new mindset of financial modesty. The opposite has happened; people are spending money. Is this the YOLO Movement?

    • DAMIAN: We’re seeing a lot of pent up consumerism and demand. They’re going back out and spending, which doesn’t line up with the FIRE Movement.
    • PETE: “Modest living, reasonable nest egg” is one way of thinking. Then there’s the FIRE Movement (Financial Independence, Retire Early), which people scrimp now and have a sooner and more vibrant retirement.
    • DAMIAN: The pendulum swung dramatically. From subscribing to these FIRE Movement ideals…to being stuck in the house and craving what you couldn’t have. Now that we can get out, YOLO!


INFLATION IS INFLATING THINGS!:
[14:35]

  • Inflation is at 5%. Normally, it’s around 2.5% annually. I wonder…nothing’s killing the housing market. With rising interest rates, do you think that will shrink the buyer’s pool and cool down the housing market?
    • DAMIAN: We’re seeing that happen already in some places. One of the reasons it got hot was because interest rates were so stinkin’ low. The laws of supply and demand will ensure things come back to reasonable levels.

There’s just too much not to miss! There might be something you can think about.  — click PLAY below for the full show.


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