Over the last few years I have developed a series of hypothetical questions that I consistently ask myself. While this characteristic is congruent with someone that is on the verge of institutionalization, it is also responsible for my unique form of financial advice. If I am going to help my generation get a grasp on their money lives, then I need to recreate a process of financial discovery. I strongly believe that we, as a financial community, need to hit the reset button. We have been advising every single generation, for the last several decades, the exact same way.

But here is the (not so) harsh reality. Retirement and financial independence will he completely different for us than it is for our predecessors. The main culprit in this forced change is our: health. We are going to live a helluva lot longer than our parents. It is unrealistic to believe that we can work half our lives, only to not work the other half. I don’t want to be the one to break this to you (it should be someone like Oprah or Ryan Seacrest), but you are going to live to 100. You might as well photoshop wrinkles on your senior picture just to get used to it. You need to start switching your financial thinking to adjust to your newly discovered longevity.

Ah, yes…I had a point, and here it is. Why not put yourself on the road to retirement right now? This topic is immense enough to write a book, alas I’m going to condense it down to a couple of paragraphs. Our “retirement” is going to consist of doing a job that you are comfortable doing until the day you die. It’s all about redefining your passions, skills, and work ethic. You don’t want to work that 60 hour per week middle management job? Cool with me, just find something else that you want to do. The limiting factor, of course, is your income needs. Your career decisions have, and always will be dependent on your income needs. Unless you decide to eliminate that factor. 

I swear to you, dear friend, that I have a point, and it’s right around the corner. Stick with me. How much money would you need to make for you to walk away from your job and do something that you enjoy for the rest of your life? There are a number of factors that figure into your ability to answer this question:

1. Is your current job the final solution? It’s quite possible that your current job is a job that you’re passionate about. It is a job that you can continue to work some way, shape, or form into retirement. This would be great, and you are well on your way to understanding how our “retirement” will be different.

2. You should accept less. Do you want to know how you know whether you have answered the income question correctly? You should be willing and able to accept less money to do a job that you truly enjoy. Why? Because, as will be true when you retire, you will finally put your needs and wants into perspective once you have chosen your final career. In order to live the retirement lifestyle that we will be faced with, you will have to live on less money.

3. You should regularly ask yourself the “how much to quit” question, and the dollar amount should consistently decrease. Look, I already know that I’m asking a lot of you. I’m asking you to accept less money in a time when everyone is looking for more money. And now I’m asking you to settle for less money every time that you ask yourself this question. I believe that you will finally have the right mindset to act on this hypothetical, once that your income needs start to decrease. You will have accepted this concept as reality, and you are closer to being prepared to live it. 

I consistently ask myself this major question. And I can honestly tell you that my income needs have consistently decreased. If you are currently in a career that doesn’t “do it for you”, then start asking the tough questions. The hardest part isn’t even decreasing your income needs. The real challenge is finding what you truly love, once you find that you will easily be able to decrease your income needs (or wants).

About Green Candy™

Green Candy™ (www.GreenCandy.com) is an online financial assessment tool that helps Gen Y-ers and Millennials get on the right financial track before the “debt hits the fan.” Introduced by radio personality, comedian and financial expert Pete the Planner (www.PeteThePlanner.com), Green Candy’s ™ various “pods” allow users to assess their financial health and competency in common areas such as Debt, Budgeting, Investing, Charity, Risk Management and Major Purchases, as well as in areas unique to Gen Y. A subsequent series of targeted worksheets, podcasts, tip sheets, and action plans guides them to the financial promise land. Green Candy™: Get in control before the debt hits the fan.

About Pete the Planner

Pete the Planner (www.PeteThePlanner.com) is expert financial planner Peter Dunn’s super-saving alter ego. Peter is an award-winning comedian and rising star in the financial world. Named one of “Indy’s Best and Brightest” in finance in 2007 by KPMG, Peter was also declared one of NUVO magazine’s “30 under 30 to Watch in the Arts” for comedy. Peter is the author of What Your Dad Never Taught You About Budgeting (2006) and is the host of the popular radio show Skills Your Dad Never Taught You on News Talk 1430 (WXNT). He blogs regularly at www.petetheplanner.com/blog. Pete appears regularly on Fox News and Fox Business as well as various CBS stations. His newest book, 60 Days to Change, is due out in September.

INDIANAPOLIS (WISH) – WISH-TV’s 24-Hour News 8 teams up with financial guru Peter Dunn, a.k.a. “Pete the Planner” for the “Money Watch 8 Challenge: 60 Days to Change.” This on-air / on-line program provides viewers the information and tools to help examine, evaluate and improve their overall financial lives.

“We’re working alongside our viewers to get through these challenging times together,” said Jeff White, president and general manager of WISH-TV and MyINDY-TV. “The more news, information and resources we can provide viewers, the better equipped they will be to improve their lifestyle and financial future. This program is designed to help them succeed.”

The “Money Watch 8 Challenge: 60 Days to Change” kicks off on Wednesday March 11, 2009 during “24-Hour News 8 at 11PM.” 24-Hour News 8 anchor, David Barras will introduce viewers to three local families taking the challenge. Segments will be featured throughout with week with new topics such as budgeting, debt and risk management beginning every Wednesday night at 11:00 p.m.

“We can’t change the economy, but we can change ourselves,” said Peter Dunn, C.E.O. of GreenCandy.com. “If you watch, you will improve your current financial situation.”

The “Money Watch 8 Challenge: 60 Days to Change” is another resource 24-Hour News 8 is providing viewers as part of its overall “Money Watch 8” commitment. For more information on the “Money Watch 8 Challenge: 60 Days to Change,” along with a list of upcoming segments, times and evaluations, log onto WISHTV.com or 60DaysToChange.com

Reader poll: When is the last time you accepted financial assistance from your parents? Leave a comment on this post.

We have a new President, and his message is change. Are you changing? Have you made financial changes? We are going to help you do this. Green Candy is launching our program to help you make huge financial changes. Stay tuned for the details next week. We are going to get through this together.

Young people today need more financial help than they ever have before. A recent article on MSNBC.com indicated that Gen Y’s unemployment rate is nearly double the unemployment rate of the rest of the generations. People are losing their jobs, making poor financial decisions, and negatively affecting their friends and family.

Why do people make bad financial decisions? Well, usually it’s because they don’t know what the right decision is. Green Candy was created to help people understand the basics of financial decision making. If underdeveloped financial skill is the embarrassing characteristic of Gen Y, then the defining characteristic is our fondness for free stuff. Many great things are free: air, Facebook, Sesame Street, and now Green Candy.

We have recently come to some very monumental agreements with some great businesses which will allow us to offer you Green Candy for free. We only ask a few things of you in return. Here they are:
1. Use the material. There are many aspects of Green Candy that can change your life. Don’t waste another year making poor decisions. Get started today.
2. Visit us often. We need your traffic. In order to continue to bring you great content, we need your help in making this the most popular financial site for Gen Y.
3. Be honest with yourself. Denial is for boy bands (your time is up. Accept it.)

For those of you that were early adopters of Green Candy, don’t panic. We will be adding premium content frequently and soon. Our premium content will be available a la carte, but you are grandfathered in. You will receive all premium content in 2009 and 2010 for free. We appreciate your early support, and we want to show you our thanks by giving you the premium stuff for free.

Green Candy will help you tremendously, and in this economic climate we just hope that you let us help you. Thanks again for your support, and sign up for your free Green Candy account today.

Do you like free stuff? I do too. Here is a great, and easy way to get free stuff. Green Candy , the premier online financial planning website for Gen Y, is giving away 5 free memberships. Green Candy walks users through seven pods of financial good stuff: budgeting, debt, investing, charity, major purchases, risk management, and the unique problems of Gen Y. Each pod allows you to evaluate your skill level, build some new skills, and then finally gives you an easy plan of attack.

Pete the Planner, the founder of Green Candy, appears on Fox News as their expert on Gen-Y and money. Pete is a former comedian, and his blend of humor and knowledge can teach anyone a thing or two. This is specific financial advice that cuts out all the silly things that don’t apply to this generation. 

Entries must be received by Noon EST December 17th. All you have to do is sign up for the Green Candy newsletter and you are entered. Enter the sweepstakes here.

Be sure to pick up a Green Candy membership for your favorite person this holiday season. A year’s membership is only $23.99. The perfect gift to get anyone out of a financial bind.

About Green Candy™

Green Candy™ (www.GreenCandy.com) is an online financial assessment tool that helps Gen Y-ers and Millennials get on the right financial track before the “debt hits the fan.”  Introduced by radio personality, comedian and financial expert Pete the Planner (www.PeteThePlanner.com), Green Candy’s ™ various “pods” allow users to assess their financial health and competency in common areas such as Debt, Budgeting, Investing, Charity, Risk Management and Major Purchases, as well as in areas unique to Gen Y. A subsequent series of targeted worksheets, podcasts, tip sheets, and action plans guides them to the financial promise land.  Green Candy™: Get in control before the debt hits the fan.   

About Pete the Planner

Pete the Planner (www.PeteThePlanner.com) is expert financial planner Peter Dunn’s super-saving alter ego.  Peter is an award-winning comedian and rising star in the financial world. Named one of “Indy’s Best and Brightest” in finance in 2007 by KPMG, Peter was also declared one of NUVO magazine’s “30 under 30 to Watch in the Arts” for comedy.  Peter is the author of What Your Dad Never Taught You About Budgeting (2006) and is the host of the popular radio show Skills Your Dad Never Taught You on News Talk 1430 (WXNT). He blogs regularly at www.petetheplanner.com/blog.