Afford Anything

Category: Episodes

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#446: Ask Paula: How to Build a New Career After Adversity

Paul suffered a stroke at 48. He’s on disability and feeling lost. How does he figure out what’s next?

Should Ashley’s aging parents spend a third of their retirement savings on a house?

Margaret is wondering if she could use her 401k for a down payment and save on her taxes.

An anonymous caller is concerned she won’t have enough access to cash if she retires at 50. Is an Indexed Universal Life policy the right solution?

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

Enjoy!

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#445: Boldly Unemployed: Embracing Entrepreneurship, with Steve Chou

We sit down with Steve Chou, an accomplished entrepreneur who, alongside his wife, built two businesses that each bring in seven figures – and gives them the freedom to spend more time with their kids. 

We delve into the challenges he faced in the early stages of his business and how he overcame these obstacles. 

Additionally, Steve opens up about the personal and emotional aspects of running a business. He candidly discusses the fears, doubts, and sacrifices he and others have encountered during this transformational journey, emphasizing the importance of resilience and avoiding the comparison trap.

Whether you’re contemplating leaving your job to start your own venture or simply seeking inspiration from a seasoned entrepreneur, this episode with Steve Chou is a must-listen.

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#444: Student Loan Payments Restart Soon: What to Expect

The student loan pause is coming to an end. 

A moratorium on student loan repayments has been in place since the start of the pandemic, but starting Sept. 1st, millions of borrowers will be required to start making payments on their loans again.

What does this mean for borrowers? In this episode, we’ll discuss what borrowers can do to prepare, including an in-depth look at the variety of repayment plan options. 

We’ll also talk (in general terms) about how to handle ANY surprise new monthly bill – whether it’s a medical bill, a family member who needs ongoing financial help, or a student loan repayment that’s about to restart. 

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#443: Building Your Dream Business, with Amy Porterfield

As a former corporate powerhouse turned successful entrepreneur, Amy knows firsthand the challenges and triumphs of building a business from scratch.

Amy is the host of the top-ranked podcast “Online Marketing Made Easy,” and the owner of a multi-million dollar digital course business. She is also the author of “Two Week’s Notice,” a guide to quitting your job and building your own business.

Get ready to be inspired as we uncover Amy’s secrets to building a thriving business and learn how you can apply her proven techniques to achieve your own entrepreneurial dreams.

Whether you’re just starting out or looking to take your business to the next level, this episode is packed with actionable advice that you won’t want to miss.

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#442: Ask Paula: I Tripled My Income. Now What?

An anonymous caller is struggling with a tempting offer from her family to buy her first house.

Tyson is wondering if it’s a good time to convert his bonds into treasuries.

“Jaula” wants to know if she should count her side hustle income as part of her retirement money.

Chris recently tripled his income. How should he manage this unexpected surplus?

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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#441: How to Invest in a Volatile Market, with JD Stein

It’s GRADUATION WEEK!

For those of you who’ve been following along this past year, you know that I’ve been completing the Knight – Bagehot Fellowship at Columbia University.

This week, my family and I are celebrating the countless hours of studying, all-nighters and eye opening experiences, so here at Afford Anything, we’re airing an important episode from our archives.

This episode addresses important questions we’ve been getting from the Afford Anything community, including:

• Where do I invest?
• How do I diversify outside of the stock market?
• How many individual stocks should I hold?

I’m looking forward to returning to the amazing Afford Anything community full-time as of June 1st, and eagerly anticipating sharing everything I’ve learned with YOU!!!! The team has big plans for the next year, so enjoy this episode and stay tuned for future announcements.

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#440: Ask Paula: Am I Saving Enough For Retirement?

“Barbara,” an anonymous caller from Episode 422, is struggling with a scarcity mindset. How does she stop worrying about the future and build the confidence to enjoy life now?

Samantha and her partner have lived out of their truck for 20 years. They sorta-kinda feel ready to buy a house and settle down. But they’re hesitating. What if they hate it?

An anonymous caller wants to retire and travel in 20 to 30 years. How does she know if she’s saving enough?

Trace plans to take a mini-retirement next year. Where should she keep her savings until then?

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

Enjoy!

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#439: Banks Collapsing?! What’s Next? – Plus ENCORE episode with Financial Advisor Michael Kitces

There are massive rapid changes unfurling in the financial world. This week’s biggest news: First Republic Bank collapsed; JP Morgan Chase acquired it. (As it happens, I was one of 12 people who was lucky enough to have dinner with Chase CEO Jamie Dimon exactly one week ago – just days before the acquisition. I tell that story around the 8-minute mark of today’s episode.)

The Fed issued a 10th consecutive rate hike, raising interest rates another quarter of a percentage point. Inflation is still double the target rate. And public confidence in bedrock financial institutions, as measured by a regional banking index fund, is in the toilet.

I talk about these issues for the first 18-ish minutes of the podcast, and then we switch to a replay of an interview that we held with acclaimed financial advisor Michael Kitces, which originally aired as Episode 64.

Enjoy!

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#438: Life in Five Senses, with Gretchen Rubin

“Do you want to save money? Or do you want to enjoy your life?”

That’s a common question, but it’s strange. It assumes these ideas are opposites: frugality is synonymous with deprivation; spending is a proxy for enjoyment.

That premise is wrong.

Let’s stop conflating spending with happiness. Let’s stop using “savings” or “free” as a euphemism for second-tier or sucky.

Most online articles that discuss free or frugal enjoyment are poorly-thought-through listicles that offer half-baked ideas, like “go to the park” or “host a potluck.” Not only are these insufferable, they also miss the point. Behavioral change doesn’t come from a laundry list. It comes from cognitive reframing.

To facilitate this reframe, we’ve invited Yale-educated former attorney and world-renowned happiness expert Gretchen Rubin to return to our show.

Gretchen was a guest on Episode 40, when she cited research about effective habit formation. She returns with a methodical, structured look at how to derive more joy from daily experiences through heightened sensory awareness.

She draws from science, philosophy, medicine, literature and psychology to tell a layered story about how to find simple pleasures in everyday things. Her latest book, Life in Five Senses, came out on April 18 and immediately hit the New York Times bestseller list.

Enjoy!

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#437: The Five Types of Perfectionists, with Katherine Morgan Schafler

Do you have a project you want to start … but you’re stuck in analysis paralysis?

Do you feel like if you want to do something right, you have to do it yourself?

Do you try to wind down after the end of a long day, but your energy levels are just not quite restored?

If you answered “Yes!” to any of these questions, then this episode is for you.

Psychotherapist Katherine Morgan Schafler, a former on-site therapist at Google, and author of “The Perfectionist’s Guide to Losing Control,” joins us to chat about her research on perfectionism.

She shares a framework on five types of perfectionism. She describes the pros and cons of each type, and how to work through some of the negative tendencies to build a more emotionally healthy life.

Enjoy!

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