Sarah has cash to pay a $8,000 medical bill but she’s reluctant to drain her savings. Should she sign up for the hospital’s interest-free payment plan?
Brian is getting inundated with spam calls as a real estate investor. Is there a way to stop the madness?
Jennie is an independent consultant but gets paid as a W-2 employee. Without access to a SEP IRA or a 401k plan, is there another option to save for retirement?
An anonymous caller is wondering how to run a cost-benefit analysis on pursuing a graduate degree.
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it here.
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Sarah asks (at 01:35 minutes): I was hospitalized earlier this year, resulting in an $8,000 bill.
Is it better to pay the bill in full or get on a payment plan?
The hospital offers an interest-free payment plan that could take two or three years to pay off.
I could arbitrage the interest in my savings account that’s earning over four percent.
I have the savings to pay it off, and it’d be a psychological relief to be done with the bill. However, I also don’t love the idea of draining the account.
What should I do?
Brian asks (at 11:41 minutes): Do you have advice for real estate investors to deal with spam calls?
I own several out-of-state rental properties. They were purchased in my name and managed by a property management company.
I’m getting inundated with spam calls from “local” investors asking if I want to sell. I tell them I’m not interested and I block the number.
I now have over 400 numbers blocked on my phone, but the calls never stop.
What else can I do about this?
Jennie asks (at 20:57 minutes): I’m a 36-year-old independent consultant. My main and only client for the year wants to pay me as a W-2 employee.
I’m lost about how to save for retirement.
I can’t take advantage of a SEP (Simplified Employee Pension) IRA and the company doesn’t offer a 401k plan. I’ve already maxed out my IRA for the year.
Are there any other ways to contribute to retirement?
Anonymous asks (at 32:20 minutes): How do I run a cost-benefit analysis on pursuing a graduate degree?
I have an undergraduate degree in Africana Studies, which I love and would do again if given the chance. It opened up many doors for me to pursue my dreams.
I lived and studied in Ghana, worked on an exhibition in South Africa, and spent years working at world-renowned media and culture organizations.
I’m now 10 years into my career. While I’ve had a ton of fun and learned a lot, I’ve also experienced a significant amount of discrimination because of my race and gender.
I’m exhausted, and I feel like taking a step back to get an MBA could help me get seen for the value that I bring. In my mind, it means removing one more obstacle in my path.
I’ve identified an online program at a top 50 business school that’d allow me to keep working full-time. I can pay for it easily out-of-pocket. But is it worth it?
Everyone says the point of an MBA is the network. Will I regret not choosing an in-person program at a more famous school?
Or is it okay to put financial stability ahead of prestige and brand name? Truthfully, I love working. Even if I could get a full ride, I don’t want to do a full-time program.
Am I choosing the easy way out instead of the smartest way?
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