Andy from Michigan loved the episode with charity:water founder Scott Harrison. After the episode, he and his 6-year-old daughter started watching videos about charity:water, and now they’re both inspired to give.
Andy’s question is on the topic of giving. His is to reach financial independence within 5 to 10 years. He and his wife are debt-free, including mortgage-free, and their retirement accounts are well-fueled. Now they’re working on building passive income. In the meantime, though, they’d like to add a bigger charitable slice to their budget. He’s not an overly religious guy, but he feels a calling to make more charitable donations than he does. What advice could we offer about how to boost his giving?
JR’s wife, before they got married, purchased two timeshares at a 17.9 percent interest rate. When the couple met, and she confessed, they immediately paid off the debt. They’re now paying $160 per month in timeshare fees. JR is trying to figure out how to get rid of their timeshare, but he can’t find any good options. How can he get rid of this?
Angela’s husband is turning 50, and she is 43. They’re on-track to have $1 million in investments within 7 years. They have two rental properties plus a primary residence, all of which will be paid off in around 7 years, as well. They’re active and healthy, but they know this can change quickly. What type of long-term care insurance do they need?
Joelle works in the public sector. She has a 457(b) retirement account. How does this differ from a 401(k)? She plans to career-change in the next few years, and she’s considering whether to keep her funds inside of her 457(b) or rollover her funds into an IRA. What are the pro’s and con’s of both?
Ines from Portugal wants to start a podcast about financial independence, early retirement and real estate investing, specifically for people who live in Europe. The issues that affect people in Europe are different than those that impact people in the U.S., and she sees a need within the marketplace. What advice would I offer to anyone who wants to start a podcast in this niche?
We received this email from a listener, Terran, after airing the show, and we’d like to publish it to provide more insight into 457 plans:
- Episode 84 – in which we answered a previous question about long-term care insurance
- Forbes article on the cost of long-term care
- LongTermCare.gov – National average costs
- AARP calculator on the cost of long-term care
- Genworth Cost of Care Survey
Thanks to our sponsors!
Grove Collaborative makes it easy to discover amazing natural home and personal care products. Grove selects only the best non-toxic products, so you can shop with confidence knowing that everything on their site is good for you, your family, and the planet. To try them out, head to grove.co/afford, sign up, and with a purchase of $20 or more you’ll receive a free $30 Mrs. Meyer’s kit + a bonus gift!
The average national interest rate on a savings account is 0.07%. Would you like to earn more on your savings while investing in local communities? CNote is a socially-conscious savings alternative that pays you up to 35x the national average. Check them out at mycnote.com/paula!
Gusto makes payroll, benefits, and HR easy for modern small businesses. In fact, 72% of customers spend less than 5 minutes to run payroll! If you sign up at gusto.com/paula, you’ll receive 3 months free once you run your first payroll.
Tired of buying clothes that don’t fit? Hate crowds? Sick of clutter? With Le Tote, you can wear, return and discover fashion that fits you better. It’ll take the stress out of getting dressed and you get to refresh your fashion monthly. Go to letote.com and enter “paula” at checkout to get 50% off your first month.