February 14, 2017

Ep. 136: Penny just bought a house and now she’s feeling lost.

M$D: July 16, 2034Meet Penny.Penny’s main concerns, in her words:Hi Pete. I just discovered your podcast a week ago and have listened to 30 episodes so far and have already made some changes to my financial life (like not having huge amounts of money sitting in savings account). I need help with budgeting and making sure I am on the right track where I am at in my life. I am a single lady living in an expensive city and have done a good job of saving money and paying off debt ($30k in student loans and $18K car loan). I also saved for 8 years to create a down payment and bought a house this past July with a $208,000/30 year mortgage.Everything feels completely chaotic right now…it seems like I am no longer saving money and that I might be on a financial treadmill. Is this ok after you just buy a house? All I want to do is spend money on house stuff but I am worried that I may not be contributing enough to retirement or general savings. I am also worried about lifestyle creep setting in. Am I saving enough for retirement? What’s my million dollar day? How do you feel about paying for life insurance for a parent? I am sure that I will be the sole caretaker for my father in the coming years.Subscribe on iTunes | Subscribe on StitcherWant to be a guest on The Million Dollar Plan podcast? Apply Here.


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