We all have our secrets.
We keep some secrets from bosses, colleagues and clients, like the fact that we hope to retire early, change careers, or start a business.
We keep other secrets from friends and family, like our income, net worth, spending habits and investing mistakes.
Research from around the world shows that we […]
Anonymous and his wife have $275,000 saved and a child on the way. They’re 27 and want to reach financial independence by 35. They want to buy a house, but with this crazy market, what’s the smartest way for them to use their savings?
Pensions make Chad uncomfortable, to the point of quitting his job to roll his $175,000 over to an IRA. Is the 12 percent match his employer offers good enough to beat the two percent growth of his pension? Or should he leave and never look back?
Anonymous and his wife are 30 and hope to reach financial independence in five years. They want to know: is a taxable brokerage account the best place for their leftover $1,000 after they max out their pre-tax 401k contributions?
Sharon called in on Episode 336 and called back to clarify her question. Her husband purchased a below-market property which has a cap that limits how much they can sell it for. Should they keep the home, or sell it, even if they can’t get the full price for it?
Norm wants to buy a house in cash and doesn’t want his name on public record. Is it possible for him to stay anonymous?
Joe Saul-Sehy, my friend and former financial planner, joins me to tackle these questions on today’s episode.
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
Anonymous is on track to be financially independent in 14 years, but isn’t living up to her potential working a boring job. How can she live up to her potential and do more without sacrificing her quality of life?
Daan is wondering if he should stake or lend his current cryptocurrency portfolio to make additional gains on assets he plans to hold long-term?
C wants to know what tax implications she should consider before working remotely from abroad?
Russell’s job offers the option to contribute to a 457 plan. Since he’s in the highest tax bracket, should he take advantage of the tax deferral offered through the 457 or invest within a taxable brokerage account?
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
The real estate market in 2021 has been bonkers.
That’s the technical term.
From 2012 to 2020, home prices nationwide rose at an annualized average of 5.8 percent per year.
From April 2020 to April 2021, home prices climbed 17.2 percent.
This sudden surge in prices has many homeowners and would-be investors fearful of a crash. The memories of the stark price run-up prior to The Great Recession are all too salient.
What goes up must come down, right?
Not exactly. In this episode, we walk through market fundamentals — discussing housing supply, lumber prices, and the distinction between cheap credit vs easy credit — to illustrate how today’s market is unlike anything we’ve ever seen.
More importantly, we offer tips for everyone — whether you’re a renter looking to get into your starter home, an empty-nester looking to downsize, an owner-occupant who wants to lock in your gains, or a curious aspiring investor who wonders if it’s too late.
Enjoy!
Russell is a busy professional who’d like to invest passively in real estate. Is there data he can use to compare this approach to owning and managing their own properties?
Laura wants to purchase her first investment property in Miami. Should she cash out some RSUs and stock from her company to use as a down payment? And what type of mortgage is she eligible for since she already owns a home?
Jordan and his wife own three properties and are under contract on a new house since they have a new baby on the way. Should he sell any of his existing properties to be in a stronger cash position, thus mitigating the risk of future fluctuations in his income as a real estate broker? Or should he keep his rental properties since his goal is to reach financial independence through rental income?
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
Anonymous and his partner have a one-bedroom condo that they rent out in Pasadena, CA. The problem? They’re barely breaking even. Should they keep the condo, or sell it and make better use of the profits?
Sam wants to know: how much of an emergency fund does a rental property need?
Michael and his wife expect their taxable income to be less than $10,000 this year. Should Michael (age 56) take distributions from his 401k to minimize or eliminate their income tax burden?
Shanon wants to switch to an ethical bank with values that align with hers. How can she create a framework for making decisions about financial institutions when authentic information is scarce?
Sharon’s husband purchased a property with a below-market loan in 2008. They now have an extra $4,000 per month, and Sharon wants to buy a property as a first-time buyer. They’re torn between keeping the property or selling it. What should they do?
Former financial planner Joe Saul-Sehy joins me to answer more of your questions.
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
In today’s episode, we answer three questions from a college senior named Rafael.
He asks about productivity tools and tactics, student debt, Robinhood and market investing, and how to establish yourself as an expert in a given domain.
We answer his questions by widening the lens.
People often ask about productivity tools. “Do you use Asana or Trello?” But nobody asked Michelangelo what paintbrush he used to paint the Sistine Chapel. The discussion around tools misses the point, which is to master the craft.
Sure, we answer his direct, overt questions. But we also dive deeper, refining these topics and exploring the questions *behind* his questions.
This is an episode in which we peel layers off the onion.
Ginger’s financial independence (FI) number is $2 million, but she doesn’t want to fully retire early. Once she hits ‘coast’ FI, she wants to 1) buy her time back with outsourcing, 2) take a mini-retirement, and 3) buy a vacation home. Does it make sense for her to divert retirement contributions to these goals, or should she aim to save $2M?
Wilson plans to have a two percent withdrawal rate in retirement. Given this low rate, should he go all-in on stocks? Or should he split up his retirement funds and invest one half conservatively and the other half aggressively?
Jennifer has a low-stress doggie-daycare, but she needs a bigger space to scale up. How the heck can she find a property to suit her needs in Austin, TX?
My friend and former financial planner Joe Saul-Sehy joins me to answer another round of listener questions.
(If you have questions on business, money, trade-offs, financial independence strategies, travel, or investing, leave them here and we’ll answer them in a future episode.)
Linda is 58 and wondering how to account for her Social Security benefits when thinking through the 25x expenditure equation. Her expected expenses are $100,000 – $150,000. How can she figure out if she’s ready to retire?
Mr. Man is eligible to retire with a full pension, health benefits, and social security at age 48. He has 20 years to go. Should he include his pension and social security benefits in his financial independence plan, or think of them as extras?
“Timothy,” a lawyer from Colorado, has $250,000 in a SEP-IRA account that’s invested in mutual funds with fees ranging from 0.61 percent to 1.06 percent. Fees on these funds are projected at $200,000 over the next 20 years. Should he and can he transfer these funds to another SEP-IRA account? What are the consequences of doing that?
Alise has dreamed of living abroad for long periods of time and wants to buy a property in Portugal before the minimum spend requirement increases. Should she go through with this, or is there another way to gain dual citizenship or travel abroad for long periods of time?
Former financial planner Joe Saul-Sehy joins me to answer more of your questions.
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
Sarah O Sahara’s parents sold their rentals and business of 24 years. They’d like to create a trust for their grandkids with boundaries in place to avoid entitlement. How should they structure this trust?
Renee and her husband are in their 60s, and most of their retirement funds are in pre-tax accounts. They have federal tax credits they’d like to use to move these funds into taxable accounts. Is this a sound strategy?
Anonymous “Yvette” in Canada has a fully paid off condo that she wants to turn into a rental once her new townhome is ready. Should she mortgage against the condo to reduce the mortgage on her townhome? Are there any tax benefits to having a mortgage on a rental?
Luis’s wife wants to start moonlighting in her field. Can she open and contribute to a Solo 401k even though she has a TSP account with her 9-to-5 employer?
Russell and his partner want to emigrate to Canada in the near future. Should they move their investments into Canadian funds?
My friend and former financial planner Joe Saul-Sehy joins me once again to answer your questions. Enjoy!
(Have an investing, entrepreneurship, lifestyle, or decision-making question you’d like us to answer? Submit it here!)
