Afford Anything

Category: FIRE

By

#459: Ask Paula | 10-Year-Old Asks: How Do I Save for My First Car?

Andrey is a savvy 10-year-old wondering what’s the best way to save up for his first car.

Ingrid wants to know if her parents’ preference for Retiring on Dividends is a better approach compared to the 4 Percent Rule.

Erica’s part-time work schedule will place her in an unusually low tax bracket this year. Should she take this rare chance to execute a Roth conversion? Or is it better to prioritize debt payoff?

Chloe is worried about the end of student loan forbearance. Should she pull back from making retirement contributions to focus on debt payoff?

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

Enjoy!

Keep reading...

By

#458: The Reality Behind High Home Prices, with BiggerPockets CEO Scott Trench

Today we chat with Scott Trench, the CEO and President of BiggerPockets, a real estate investing education company with more than 2 million members.

He joins us to share cutting-edge insights on today’s real estate market. We discuss economic trends, demographic shifts, and talk about how interest rates impact home buyers.

Whether you’re a potential homebuyer, an investor, or simply curious about the housing market, this conversation will shield light on what’s REALLY happening in today’s confusing real estate market.

Keep reading...

By

#457: Ask Paula: I Sold All My Stocks Last Year. Now I’m Kicking Myself.

Angie sold all the stocks in her retirement account last year. And now the market’s climbing. What should she do with her $500,000 cash position?

Christina will be graduating with six figures of student debt. Should she refinance out of a federally protected loan to lower her interest rate?

An anonymous caller wonders how Paula and Joe handled their primary residences when they moved out of state.

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.

Keep reading...

By

#454: Ask Paula: Financial Disaster? How to Get Help Before It’s Too Late

Amy says she hit “rock bottom” with her finances. She says she struggled to ask for help before her situation became an emergency. How can others ask for help sooner?

Rebecca is a mother of four, which means she’s juggling four distinct college timelines and 529 plans. How does she make a withdrawal plan when there are so many unknowns?

Anne Marie switched jobs. What should she do with her old retirement accounts?

And Dylan wonders if the IRS Rule of 55 applies to Roth 401k accounts.

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

Enjoy!

Keep reading...

By

#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!

Keep reading...

By

#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.

Keep reading...

By

#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. 

Keep reading...

By

#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.

Keep reading...

By

#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!

Keep reading...

By

#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!

Keep reading...

Afford Anything