Written By Paula Pant
đź‘‹ Hey there! FYI, this post is part of our First Principles series.
About the series…
When most people talk about money management, they discuss tactics. Occasionally, you’ll encounter someone who elevates the discussion to strategy, rather than simply scattershot tactics.
But what’s missing from both conversations — both tactics and strategy — is a […]
By Paula Pant
F.I.R.E. holds four pillars: Financial psychology, Investing, Real estate, and Entrepreneurship. This September, we’re running four weeks of episodes focusing on each of these four pillars, plus one bonus episode sharing impactful lessons learned from those who have reached F.I.R.E.
Enjoy!
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Today we’re sharing three talks given at the EconoMe conference, with each of these talks relating to F.I.R.E. The three discussions are:
FI-Landia is a lie – What I Learned On My Journey To F.I.R.E., with Carl Jensen
What If You Achieve All Your Goals But You’re Still Not Happy, with Rich Jones
How To Never Again Say, “I Can’t Afford It”, with Paula Pant
Written By Paula Pant
đź‘‹ Hey there! FYI, this post is part of our First Principles series.
About the series…
When most people talk about money management, they discuss tactics. Occasionally, you’ll encounter someone who elevates the discussion to strategy, rather than simply scattershot tactics.
But what’s missing from both conversations — both tactics and strategy — is a […]
By Paula Pant
We start this episode with two anonymous callers who have opposite problems: one says her bills are too high, while the other is worried that she’s saving too much.
Anonymous (“Izzy”) saves A LOT. She wants to relax about her spending more, and start including more joy into her life. How should she approach the next 10 or 20 years, so that she can enjoy her financial security?
A different anonymous caller (“Starlight”) has the opposite problem: her expenses are mounting. Her bills make her uncomfortable. She wants to shake up her investments so that she can tap her assets in order to make her payments. Ideally, she’d also like to buy a house in Europe within the next 10 years. How should she do this?
John liked the episode with Bill Bengen, where we discussed the 4% rule. However, he questions whether that rule should really be applied to the FIRE community.
Steve is a landlord who needs his property to cash flow, but doesn’t like to raise rents. What should he do?
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.
Enjoy!
Written By Paula Pant
đź‘‹ Hey there! FYI, this post is part of our First Principles series.
About the series…
When most people talk about money management, they discuss tactics. Occasionally, you’ll encounter someone who elevates the discussion to strategy, rather than simply scattershot tactics.
But what’s missing from both conversations — both tactics and strategy — is a […]
Written By Paula Pant
đź‘‹ Hey there! FYI, this post is part of our First Principles series.
About the series…
When most people talk about money management, they discuss tactics. Occasionally, you’ll encounter someone who elevates the discussion to strategy, rather than simply scattershot tactics.
But what’s missing from both conversations — both tactics and strategy — is a […]
By Paula Pant
Welcome to our First Friday bonus episode.
Once a month, Afford Anything presents a special feature called Invest Anywhere, in which we teach our audience how to invest in real estate from thousands of miles away.
We kickoff today’s episode by discussing current market conditions. Yesterday the Fed raised interest rates by another 50 basis points, which means mortgages are more expensive than they’ve been in years. Additionally, jittery investors worried about an impending recession led the stock market to its worst day of the calendar year so far.
How should we interpret the current market conditions? Is this a good time to buy an investment property? We cover this in the first 20 minutes of today’s episode.
Next, we discuss 5 challenges associated with investing in long-distance real estate investing: (1) fear, (2) accountability, (3) traction, (4) stress, and (5) relationships.
We elaborate on each challenge and offer solutions.
Finally, we discuss 4 benefits to investing out-of-state: (1) competitive ability, (2) diversification, (3) returns, and (4) repeatability. We elaborate on four types of diversification: economic, strategy, business cycle, and asset based.
Enjoy!
By Paula Pant
Money, relationships, health and purpose: life is running smoothly when all four of these elements are working together in tandem, like wheels on a car.
But how can we make spending and investing choices that facilitate stronger relationships, better health and a deeper sense of purpose?
Andrew Hallam, who became a millionaire on a teacher’s salary, shares researched-backed, evidence-based insights into how to find balance, drawing from the worlds of behavioral finance and stock market history.
By Paula Pant
“What’s your FI number? What’s your FI date?”
People often talk about financial independence like it’s a fixed, static point. When your portfolio reaches $X value, or your monthly passive income is $Y per month, you’re FI.
“When did you reach FI?,” people will ask, as though it’s a one-way door with a distinct date, comparable to graduating from high school or college.
Today’s podcast guest, J.D. Roth, offers a fresh perspective: FI isn’t a fixed point. It’s a continuum, a spectrum.
He says there are seven stages along the road to financial independence, which include:
1: Dependence: This is what we experience when we’re five years old: total reliance on someone else.
This is also what we experience as adults if we depend on our credit cards for basics like groceries and utilities, and we can’t pay the balance in full at the end of the month.
2: Solvency: You can make your minimum payments, and you’re not adding new credit card debt to your monthly balance.
By Erin @ Team Afford Anything
PSA Thursday is back! In case you’re a new listener, PSA Thursday is a weekly-ish segment in which we talk about how to handle money, work, and life in the middle of a pandemic.
With the uncertainty of the Affordable Care Act (ACA) looming before us, many are asking:
What will happen if the ACA is struck down by the Supreme Court? How can we plan for healthcare – now and in the future? How much will I need saved to cover healthcare in retirement? What can I do if I can’t afford the expensive premiums?Â
As a community of entrepreneurs and early retirees, this is a major concern.Â
To help us understand the healthcare landscape, we brought on Tanja Hester, author of Work Optional and the blog Our Next Life.
Tanja has extensive experience with the healthcare system. She has a history of pre-existing conditions dating back to childhood, and she has also navigated the marketplace post-retirement.
