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This week on the Pete the Planner Show, Pete goes full-on Soccer Assistant Coach!
No time to listen? Here’s a preview of what happened and when:
Show Notes:
BEING READY FOR RETIREMENT: [6:35]
- Pensions used to fund the retirement of the vast amount of Americans. Now, we have shifted towards participant-guided retirement plans like 401(k)s, 403(b)s, IRA, etc. There’s a new study out that suggests most retirees aren’t tapping their nest eggs before their required minimum distributions (RMD).”
- If you are relying on Social Security to provide the majority of your income in retirement, make sure your expenses are lining of with the level of income you’re going to have.
- DAMIAN: If you have very limited resources going into retirement, you’re going to have to figure out a way to keep your income at a place that can support you.
AMERICANS ARE SPENDING MORE MONEY IN 2021: [18:00]
- According to a new Spending Index report, Americans are spending more money in 2021. On average, Americans are spending $765 more per month on travel and dining than in 2020.
- DAMIAN: A lot of this is just reversion to mean. 2020 kept us in, but in 2021, society opened back up and we’re just doing life again.
- PETE: I totally buy this story. With the extra income from tax credits and deferments…the numbers do seem to correlate.
Keep it locked for even more! Check it out in the full show! — click PLAY below.
SIDE NOTE:
— 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.