In the latest issue of IBJ, financial advice columnist Peter "Pete the Planner" Dunn shares a letter from reader who for undisclosed reasons has spent a great deal of the money that he made through a successful business.

It’s evident from the letter that this person has hit an emotional low. And in his response, Dunn addresses the dangers of linking your self worth to your financial worth.

IBJ Podcast host Mason King picks up on that thread for this week's podcast and talks to Dunn about steps to stabilize and buttress your finances if you've suffered a big loss or are just behind in saving for retirement.

There's good news: Dunn says even later in life you can make your finances work—but it's more about adjusting your spending than it is about saving.

You can read Dunn's columns here.

The IBJ Podcast is brought to you by Taft.