By Paula Pant
Princeton Professor Daniel Kahneman never took an economics class. But he won the 2002 Nobel Prize in economics, thanks to his advancements in understanding the psychology of money.
In today’s episode, we pay homage to the late Dr. Kahneman, who passed away on March 27 at age 90.
We also discuss the jobs report, inflation data, the booming stock market, the next Bitcoin halving, Capital One’s acquisition of Discover, and the National Association of Realtors settlement.
Enjoy!
Written By Paula Pant
Welcome back to First Principles, the newsletter from Afford Anything.
In 1896, a young Marie Curie, Polish physicist and mathematician, became fascinated by uranium.
She was inspired by scientist Henri Becquerel’s discovery of radioactivity, which took place that same year. Curie herself coined the term “radioactivity” to describe the occurrence of radiation […]
By Paula Pant
How much of a pay cut would you take for a lighter workload?
Paul, 35, is grappling with that question. Like many of us, Paul says he loves his job, but the hours are demanding. He would love to work less. But he didn’t think the opportunity would come so soon.
You see, Paul is a dedicated saver. He’s spent years trying to build financial independence. He’s amassed a net worth of $910,000, with no debt.
His ideal early retirement, which would be filled with travel and hobbies, requires more money. Besides, he enjoys his career.
That’s why Paul thought he’d work full-time for several more years. He felt happy with that plan.
But an interesting opportunity recently arose.
Paul’s workplace has offered him the chance to drop his hours – and his salary – by 25 percent. He’d love to work less. But the salary cut is earlier than he’d planned.
Should he take it?
Today, we kick off the podcast episode with this question.
After that, we turn our attention to an anonymous caller. She and her husband want to retire at 55. They also want a bigger home, a better car, and to start growing their family. Can they afford it all?
Meanwhile, Tim spent his 20’s in medical school. He missed out on retirement savings during those years. He’s eager to catch up. What’s the shortest path to get there?
Finally, Matthew and his family dream of leaving Florida for the Pacific Northwest. Will they regret selling everything to start over?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
By Paula Pant
Tatyana is about to pay off her house at age 39! What’s next? Her husband, who earns twice as much (and whom she met after she bought the home), has no savings. They want a boat. Should she focus there?
Matthew recently ended a relationship that resulted in a real estate buyout with an 8.1 percent interest rate. With rates expected to decline, how long should he wait to refinance the loan?
Rachel’s friends know her as the finance gal, but she’s stumped about closed-end funds. What should she know about these investments?
Erin and Angelique call in with a loan strategy to tackle Steve’s double mortgage dilemma from Episode 487.
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
By Paula Pant
Do you ever wonder what happens behind closed doors on Wall Street?
Vivian Tu, also known as Your Rich BFF, is here to spill the tea.
Vivian grew up in a modest immigrant family. After college, she found herself working insane hours on Wall Street after college.
While working on Wall Street, Vivian saw some weird things.
Once, a coworker stumbled hungover into the office after a trip to Atlantic City, carrying a duffel bag with thousands of dollars in cash inside.
Vivian realized that there’s a group of high-income and high-net-worth people who handle money in drastically different ways than she learned in her frugal upbringing.
She learned about investing, taxes, legal loopholes. She discovered new ways of thinking about money.
She shares these insights — gleaned from her Wall Street days — in today’s podcast episode.
By Paula Pant
Christine’s business is struggling. She needs more income. If she adds a full-time remote job to her plate, how will her retirement and finances change?
Rob enjoyed a banner year in 2023. He made over $1 million. But the sting of income tax has him making moves that violate his investment strategy. Is his tax tail wagging the dog?
Gena is excited to make the most of business deductions. Can she contribute 100 percent of her wages to a 401k and have the company match that?
Christina is tired of living like a pauper in the name of student loan repayment. Is Public Service Loan Forgiveness the answer?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
Written By Paula Pant
Hey Gen Z friends,
Welcome to adulting and the world of personal finance! As Generation Z, you have the incredible advantage of time on your side when it comes to investing and reaching financial independence.
Leverage your youth as a time of opportunity and learning, thinking boldly about how to create the financial future you […]
By Paula Pant
Cara made $100,000 in commissions this year, her biggest bonus ever. What should she do with the money if she wants to retire early?
An anonymous caller and his partner have lived in an RV for years. They’re ready to settle. Should they sell most of his investments to purchase raw land and build an off-grid home?
Remy and her husband need to come up with $30,000 for IVF treatments. How do they build their family without breaking the family finances in the process?
Another anonymous caller is upset that the 401k plan he sold his boss on is charging him an Assets Under Management (AUM) fee. Should he keep the 401k at all?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
Written By Paula Pant
Myth: You need to buy investment real estate in the same city where you live.
Reality: You’re free to buy investment real estate anywhere 👏🏽 you 👏🏽 damn 👏🏽 well 👏🏽 please.
When you choose a location for your rental property, you’re looking at two critical factors: returns and affordability.
Two metrics that express this […]
Written By Paula Pant
“OMG I missed it. I should’ve bought two years ago.” “Am I too late? Are all the good deals gone?” “Look at how much cheaper it used to be. I’m priced out now.” “Isn’t my best bet to wait for a crash?”
Oh my dear friend.
Those sound like remarks made today … […]
