M$D: November 5, 2039
Meet Dustin
Age: 25
Dustin’s main concerns, in his own words:
Hi my name is Dustin, I am 25 and I work for the phone company. I recently got engaged with a wedding date of May 2017 I make about 60,000 a year and my other half works for an orthopedic surgeon and makes about 30,000 a year with rent, health care, car payments, utilities and retirement as our main monthly bills I don’t know if I’m contributing to much to my retirement and if she is contributing enough to hers I’m putting in 8% to my 401k with a company Match of 6% and I do an additional 4% into a Roth she is at 8% as well into a 401k but the match that her office does is not a % it’s based on profit shares I have 0 dollars in my savings and we live pay check to pay check but we are comfortable, I pay all off our rent which is 1200 a month and her portion is utility’s at 500ish then we each pay for our own cars and to top it all off we are looking to buy a house asap. I just want to know if it’s safe to pull back from our retirement saving to be more comfortable day to day? Thanks 🙂
What we cover in this episode:
- How to prioritize retirement, emergency savings, and saving for a wedding
- When it’s the right time to buy a house
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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.