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Author: Paula Pant

May 16, 2025By Paula Pant

#608: The Stoic Path to Wealth, with Billionaire Investor and Philanthropist Robert Rosenkrantz

At age seven, Robert Rosenkrantz made a decision that would shape his entire life: he would take full responsibility for his future.

As a child, Rosenkrantz watched his parents struggle financially. His father was unemployed for two years, and his mother worked as a drugstore clerk.

Their financial insecurity was painfully obvious to young Robert. He never knew if the electricity or telephone service would be shut off.

But rather than seeing this as an obstacle, he saw it as a path to self-reliance.

By age 14, Rosenkrantz was managing investments for his family. By 35, he had amassed $400,000 — equivalent to about $4 million today. Then came the pivotal moment that changed everything: a negotiation with wealthy entrepreneur Joe Mailman.

When Mailman expressed concerns about traditional investment structures that created a “heads you win, tails I lose” scenario, Rosenkrantz made a bold counter-offer. He put his entire liquid net worth at risk in exchange for a 50/50 profit split with no carried interest.

“First deal, we lost $100,000. The second one, we made $100 million,” Rosenkrantz says during the interview. “So it averaged out.”

Now 82, Rosenkrantz joins us to discuss his book, “The Stoic Capitalist,” and the principles that guided his career.

For over 35 years, he’s carried the same negotiation card from “Getting to Yes” in his wallet — a reminder that negotiation isn’t about winning, but solving problems together.

We talk about his counterintuitive investment philosophy: look for companies that require minimal specialized talent, like laundromats or self-storage facilities. He says these often make better investments than those needing exceptional management, like restaurants.

This principle guided his first major success, a lawn and garden products business that essentially put dirt in bags — a simple operation that became a regional monopoly and eventually sold for $100 million.

Today, Rosenkrantz funds scientific research on longevity and hosts debate programs that present balanced perspectives on contentious issues. His philanthropy includes backing a groundbreaking study that has extended worm lifespans from 15 days to over 250 days — potentially the longest lifespan extension ever achieved in any organism.

When asked about retirement, he responds: “How do you spell that?”

His advice for decision-making comes straight from stoic philosophy: focus only on what you can control — the present and future, not the past. This means disregarding sunk costs completely when making decisions and using reason to regulate emotions.

For Rosenkrantz, counting the zeros — focusing only on opportunities with enough potential impact — helps prioritize time and delegate effectively. At 82, he still practices these principles daily, considering himself “biologically more like 70 and getting younger.”

Keep reading...

May 14, 2025By Paula Pant

#607: Q&A: Remember When Money Advice Came From Just One Book at the Library?

George is a worried baby boomer, wondering if today’s generation is drowning in the noise of today’s financial landscape. How does one find a balance between information and overload?

Heather is stunned by the notion that renting could make more financial sense than buying. Where she’s from, the numbers seem to always swing in favor of owning. What’s she missing?

Former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode.

Enjoy!

Keep reading...

May 10, 2025By Paula Pant

#606: Can You Really Afford to Die? – with Hospice and Oncology Nurse Suzanne O’Brien

Hospice nurse and end-of-life educator Suzanne O’Brien joins us to discuss the financial realities of dying in America — and they might surprise you.

Remember Aretha Franklin?

Her handwritten will was found in her couch cushions after she passed away. Despite her substantial wealth, this simple document was legally upheld. It’s a powerful reminder that having any form of will is better than none at all.

But there’s more to worry about than just having a will or trust. The costs of aging and dying can add up fast.

Long-term care costs can quickly deplete even substantial savings. Suzanne shares a story about a couple with over $5 million who were shocked to learn how quickly 24/7 care for dementia would consume their nest egg.

Traditional funerals average between $7,000-$11,000, but there are much more affordable alternatives:

• Home wakes and natural burials can cost just a few hundred dollars
• Water cremation offers an environmentally friendly option
• Whole body donation to medical institutions costs nothing while contributing to education

Planning ahead gives you control over these decisions and spares your loved ones additional stress. Multi-generational living arrangements can also reduce caregiving costs and address concerns like isolation and safety for aging family members.

Suzanne also shares stories about the emotional side of dying. Did you know some people seem to choose when they go? She tells us about a 99-year-old woman in a coma who somehow held on for days until she turned 100, then passed away that very night.

Keep reading...

May 6, 2025By Paula Pant

#605: Q&A: My Boss Said Return to Office. So I’m Quitting.

In light of recent federal mandates to return to the office, Pedro is having a hard time giving up on his fully remote lifestyle. Is there a creative solution to his dilemma?

An anonymous caller is excited to move abroad permanently. How should she structure her investments to support her international lifestyle while maintaining a home base in the US?

Former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode.

Enjoy!

Keep reading...

May 2, 2025By Paula Pant

#604: First Friday: How April’s Tariffs Changed the Economy

The biggest trade shake-up in 135 years is happening right now.

April brought tariff levels that economists say haven’t been seen since the 1890s, creating ripple effects throughout the economy.

We’re seeing a stark disconnect between official economic data and how people feel about their financial future.

While the economy added 177,000 jobs in April — beating forecasts — consumer confidence has plummeted to alarming levels.

Almost 70 percent of Americans now expect higher unemployment ahead, despite the strong job numbers.

The tariffs have triggered some unexpected behaviors. Companies rushed to import goods before prices increased, which ironically pushed the trade deficit to record levels.

Consumers went on buying sprees for cars, computers, and other expensive items, fearing they’d soon cost much more.

Meanwhile, inflation expectations have surged to their highest levels in decades.

What does this mean for investors? Bond markets reacted dramatically, with Treasury yields posting one of the sharpest spikes on record mid-April before settling back down.

The dollar weakened significantly, and economists have raised recession probability to 45 percent — up from 30 percent just last month.
Small businesses are feeling the uncertainty too.

After initial optimism about potential tax cuts and deregulation, their expectations have soured amid concerns about how tariffs might hurt smaller firms disproportionately.

Market volatility has hit retirement savers particularly hard. We take a call from a listener named Johanna who shared that she lost 30 percent of her portfolio due to recent tariff-related swings.

She’s wondering whether she’s still “Coast FIRE” — even when market shocks alter her retirement math.

Join us as we break down April’s economic data, explain what’s behind the market volatility, and discuss what these historic tariffs might mean for your money in the months ahead.

Keep reading...

April 29, 2025By Paula Pant

#603: Q&A: Who Actually Makes Money From Gold and Silver These Days?

Bethany’s partner wants to invest most of their money in gold and silver, but no one seems to talk about this kind of investing. Is this a red flag or a potential opportunity?

Diana is worried she’s been saving too much for her kids’ college – hundreds of dollars a month since they were born. How does she know when to stop?

Wendy’s pension and social security will cover all her basic expenses during retirement. Does the four percent rule still apply to her discretionary nest egg, or is there another approach?

Former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode.

Enjoy!

Keep reading...

April 25, 2025By Paula Pant

#602: The Surprising Science of Six-Figure Thinking

Ever looked back at an old Facebook post and cringed? According to Olga Khazan, staff writer at The Atlantic, that discomfort is evidence of something powerful: your personality has changed, even if you didn’t notice it happening.

In our latest episode, Khazan, who recently wrote a book on the science of personality change, breaks down […]

Keep reading...

April 22, 2025By Paula Pant

#601: Q&A: The Stock Market Sucks. Is Private Equity Any Better?

Nick and his wife have $100,000 to invest, but they’re worried about the volatility of the current stock market. Should they look into alternative investments such as private equity?

Even though Roth IRAs come with tax-free withdrawals in retirement, Josh is worried about his tax bracket going up and neutralizing the benefits. Is he right to be concerned?

The retirement portion of Cindy’s financial three-legged stool is set, and she’s now focused on her taxable brokerage. What investment strategy will allow her to be work optional in 10 years?

Former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode.

Enjoy!

Keep reading...

April 21, 2025By Paula Pant

#600: Mini-Retirements Are the New Early Retirement – with Mom of Six, Jillian Johnsrud

Jillian Johnsrud was falling apart. After suffering a miscarriage, she couldn’t pull herself together to return to her job as a youth pastor in DC. She decided to take a month off.

That unexpected break became Jillian’s first “mini-retirement” — a deliberate step away from work for at least 30 days to focus on something […]

Keep reading...

April 17, 2025Written By Paula Pant

Are you leaving $19,909 on the table?

Picture this: It’s 2 a.m. and you’re wide awake, mentally rehearsing tomorrow’s salary conversation for the fifteenth time.

Your stomach tightens at the thought of asking for more.

“There are people who will be up nights on end stressed about asking for a raise,” explains Bob Bordone, who taught negotiation for 21 years at Harvard Law […]

Keep reading...

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Afford Anything

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