Afford Anything

Category: Episodes

By Erin @ Team Afford Anything

PSA Thursday – How Does the CARES Act Impact Student Loans?

Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic.

In this episode, we cover how to manage student loans in the midst of the pandemic with Travis Hornsby, a Chartered Financial Analyst and the founder and CEO of Student Loan Planner. He is an expert in the complex topic of student loans. If there’s anyone who can deep dive 

We cover: 

  • The CARES Act, and its impact on student loans
  • Options for those with private student loans
  • Why you might want to stop paying extra towards your student loans
  • The changes in government policy around student loans as a result of the pandemic that you need to know
  • The best strategy for managing your student loans in 2020
  • How to view financial independence when you have an overwhelming amount of student loans

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By Paula Pant

#260: Ask Paula – Should I Fire My Financial Advisor During a Pandemic?

Katelyn wants to fire her financial advisor and move her investments from mutual funds into Vanguard index funds. Should she do this during the pandemic? Or should she wait?

Marisa asks: can you invest in a Roth IRA if your income is inconsistent and might exceed the cap?

Anonymous “Flo” had a Simple IRA at her old job that she can no longer contribute to. She also can’t contribute to a 401k until she’s been at her new job for a year. Where should she put her money in the meantime?

Mary received an $80,000 grant of RSUs from her employer when she started. These RSUs began to vest after one year, and the price per share has increased 44 percent. What should she do with the shares?

Anonymous “Olivia” is interested in a Roth conversion ladder, but wants to know: does the pro-rata rule apply here as it does with a backdoor Roth conversion?

My friend and former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode. Enjoy!

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By Erin @ Team Afford Anything

#259: How to Lead with a Vision, with Michael Hyatt

Vision. 

We’re bombarded by articles and books and social media posts that tell us that a “vision” for life and work is essential.

But what is a vision? 

Is it a fluffy, pie-in-the-sky, feel-good statement that elicits warm-and-fuzzy feelings?

Is it the result of a week-long retreat spent in deep reflection? 

Is it a board full of a zillion post-it notes with color-coordinated topics?

Not according to our guest, Michael Hyatt, a New York Times and Wall Street Journal best-selling author on the topics of leadership and business. 

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By Paula Pant

PSA Thursday – Actions Speak Louder Than Words

This has been an exceptionally painful week. 

We have muted the podcast thusfar this week, in support of the #amplifymelanatedvoices movement, the #amplifyblackvoices movement, and in support of the #theshowmustbepaused movement. 

We have assembled a list of resources that highlight a variety of books, websites, podcasts, nonprofit organizations and GoFundMe campaigns that I would like to direct your attention to in lieu of our normal programming. These resources can be found below.

This podcast, as I say in every episode introduction, is dedicated to two questions: first, what are your priorities? Second, how do you align your limited resources — including your time, money, energy and attention — to the things that matter most? 

If dismantling systemic racism and social and economic injustice is a priority to you, as it is to me, then the challenge that we as a community face is answering that tough question. We’ve identified the priority. How do we align our money and time to support that priority?

I have intentionally designed Afford Anything to be a nonpartisan platform. All major party affiliations are welcome here. All religions are welcome here. All people who have love in their heart are welcome here. 

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By Paula Pant

PSA Thursday – Your Guide to Giving: How to Donate, Volunteer and Practice Spontaneous Kindness

Let’s start with the good news: the majority of U.S. households, 6 in 10, donate money to nonprofits and charities, and 1 in 4 adults in the U.S. volunteer their time and talent.

The only way our society is going to get through the struggles and the stresses that we face is if we are good to each other. Compassion and common humanity are crucial.

In this PSA episode we discuss strategies around giving, including how to donate money and volunteer time effectively, as well as how to embrace the opportunity to practice informal, random, spontaneous acts of kindness.

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By Paula Pant

#258: Ask Paula – Can I Quit My Job Before I’m Financially Independent?

“Burned Out in Boston” wants to reach financial independence.

But she’s not sure she can stick it out in Boston much longer.

She and her husband want to move to an area that doesn’t have many job prospects, and they want to make this leap soon, ideally before they reach FI. How do they know when it’s the right time to jump ship to their dream location?

Ingrid and her husband own two rentals. They’re torn between paying one of their rentals off or buying more properties. Which is the better route to take?

Pat is torn: should she convert her garage into an accessory dwelling unit, or use funds to buy an out-of-state rental property?

Chelsea wants to know: what should you do if your newly purchased home is an instant money pit?

Julia wants to know how to approach investing in sector-specific index funds, like utility ETFs. Should they be a small or large portion of your portfolio?

I answer these five questions in today’s episode. Enjoy!

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By Paula Pant

#257: How to Stop Screwing Up Our Finances, Even in a World That Leads Us Astray — with Dr. Dan Ariely

“The checking account is like the trash can of personal finance.”

Today’s podcast guest, the famed behavioral economist Dr. Dan Ariely, is not a fan of checking accounts. Or supermarket end caps. Or anything that distracts us from our financial goals.

In this episode, he explains why.

Dan Ariely is one of the world’s most renowned behavioral economists. He’s the James B. Duke Professor of psychology and behavioral economics at Duke University.

His TED Talks have been viewed more than 15 million times. In 2018, he was named one of the 50 most influential living psychologists in the world.

He’s the New York Times bestselling author of many books, including Predictably Irrational, a book that challenges our assumptions about our ability to make rational decisions. He also wrote Dollars and Sense, a book about our cognitive biases, and The Honest Truth About Dishonesty, a book about how we lie to everyone, including ourselves.

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By Paula Pant

PSA Thursday: How Can I End 2020 in a Stronger Position Than I Started It?

Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic.

Today, our discussion focuses on work. 

How can you find business and investment opportunities in today’s tough pandemic bear market? 

What should you do to emerge from 2020 stronger than you started?

We tackle this question in today’s PSA Thursday episode. Here are 7 specific, immediate actions that can set you up to succeed in this recession.

#1: Keep your plans intact.

Don’t rewrite your life plans based on fear or anxiety. 

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By Paula Pant

#256: Ask Paula: Bonds Are Tanking. Should I Switch to Real Estate Instead?

Jon is wondering if now is a good time to move his RRSP into a tax-free savings account, given the market downturn. He knows you can’t time the market, but the opportunity is tempting. What should he do?

Laurel’s question revolves around the CARE Act and early withdrawal from a 401k. She needs to rebalance her 401k and wants to buy a rental. Instead of selling stocks, should she sell bonds as a form of rebalancing and to withdraw for a rental property?

After seeing so many businesses experience financial hardship, Rebecca and her husband are curious: why don’t companies have emergency funds?

Salome sees the stock market downturn as an opportunity for tax-loss harvesting, but does this hold if you’ve held stocks for less than a year?

Josh and his wife have funds in Vanguard and Betterment, and they own their apartment in Queens, NY. Does the equity they have in their apartment count as real estate, or should they invest in something else for more diversification?

Jenny and her husband earn $220,000, max out their 403b and HSA, and have an extra $4,000 per month to invest. Where should they put this money?

Sheena has the option to purchase company stock at a 15 percent discount through an Employer Stock Purchasing Plan. However, it’s volatile right now. Should she contribute the maximum amount, or nothing?

My friend and former financial planner Joe Saul-Sehy joins me to answer these questions. Enjoy!

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By Erin @ Team Afford Anything

PSA Thursday: How Is The Pandemic Affecting the Housing Market?

Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic.

Before the pandemic, the U.S. housing market was strong. Home prices were at historic highs. Borrowers were more qualified than ever, with two-thirds of mortgage originations going to borrowers with excellent credit. As of January 2020, delinquencies (borrowers more than 30 days late on a payment) reached a 20-year low.

How has the pandemic affected the market? Are we due for another spate of foreclosures? What’s going to happen to housing supply? What about demand? Are buyers still buying? Are sellers still selling? And if you’re thinking about buying a home — either as an owner-occupant or as a rental property investor — what do you need to know about the new pandemic landscape?

We dig into depth in this short, researched-packed PSA Thursday episode.

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