Meet BJ
Age: 31
BJ’s main concerns, in his own words:
My financial situation is relatively complex, for a 31 year old. I am in technology sales and have been pretty successful, especially over the last 3 years. The large increases in my W2 over this time span have led me to purchase a house (not on a 15 year mortgage, though…), start and contribute to a 401k, invest in an employee stock purchase program, etc. I am saving, but not sure I am saving enough.
To add to this, my wife owns a franchise restaurant and is paying off a large loan that she used to get started. She owns the land, the building itself, and the franchise now. She pays herself a decent wage to manage the store, but ultimately, my salary/commissions pay for the mortgage, bills, etc. We are DINKs…dual income, no kids.
I’d love to actually have a strategy with my money and be confident that I am not screwing up.
What we cover in this episode:
- How to manage a high income
- Setting net worth goals to measure progress
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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.