By Paula Pant
Kayla is torn between paying off a loan early or catching up on missed retirement contributions.
Josh wants to retire early and meets the threshold for zero capital gains taxes. Should he put all his retirement savings into a brokerage account?
An anonymous caller wants to know how to merge financial lives with her husband from another country.
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
By Paula Pant
Born in 1924, Charlie Munger was raised during the Great Depression.
At the time of his death on Tuesday, his net worth was estimated at $2.6 billion.
But Munger’s greatest achievement wasn’t merely the scorecard of his net worth. His wit and wisdom, which Munger shared with the world through his book, Poor Charlie’s Almanack, which made him one of the most respected investors of the last century.
Munger is the man who taught Warren Buffet how to invest.
He’s lauded as the moral compass of Berkshire Hathaway, the company where he has served as vice chairman since 1984.
He’s the man who famously said, “In the short run, the market is a voting machine. But in the long run, it is a weighing machine.”
Munger and Buffet met each other in Omaha, their shared hometown, at a lunch at the local Omaha Club, where they were introduced by mutual friends. They instantly connected.
Buffet was an unknown at the time, but Munger saw his potential.
Munger’s wife once asked him, “Why are you paying so much attention to [Buffet]?,” and Munger replied, “You don’t understand. That is no ordinary human being.”
Their business partnership and friendship has lasted for more than 50 years, and Munger played a key role in many of Buffet’s investing decisions.
He passed away on November 28, 2023, at age 99.
In today’s First Friday bonus episode, we pay homage to the late investing legend Charlie Munger.
By Paula Pant
When Tiffany Aliche was in her 20’s, she fell victim to a credit card scam.
A crafty swindler convinced her to take out a cash advance against her credit card for $35,000. He said that he’d invest the money and produce Bernie Madoff- style returns. She was an inexperienced investor. She believed him.
She never saw that money again.
Aliche worked at a preschool. She didn’t make much money to begin with. But matters worsened when the school shut down, and she lost her job. She fell behind on mortgage payments and lost her condo.
In order to recover from such huge setbacks, she had to grapple with an enormous sense of financial shame.
Today, financial educator Tiffany Aliche, better known as The Budgetnista, shares how she overcame financial shame.
She talks to us about the opposite of shame, which is a sense of financial wholeness. And she discusses practical tips for how to navigate the challenges of debt and scams.
By Paula Pant
Should Knoxville use a higher-interest Home Equity Loan (HELOC) to pay off a lower-interest 401k loan?
Joelle’s tenant is interested in a rent-to-own agreement. Is this a good idea from a landlord’s perspective?
A recent wildfire shifted Sharon’s house into a flood zone. Should she sell before FEMA redraws the map and it becomes official?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
By Paula Pant
Christina recently slayed her debt and put herself on track for financial success. But now she’s bored. How can auto-investing be more exciting?
Speaking of debt, Christina shares a creative HACK to SAVE $60,000 in student loan interest payments.
Mary is struggling to compare two job offers: one from a large corporation and another from a tiny business. How should she decide?
An anonymous caller wants to buy a different home, and convert his current home into a rental. How should he finance this move?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
By Paula Pant
Peter Atwater, an economics professor at The College of William and Mary and author of “The Confidence Map,” joins us to discuss how confidence shapes our financial markets.
He explains how The Hunger Games relates to the Lehman Brothers collapse. He describes why you should “Buy Adele and Sell Pharrell.”
From the Panic of 1857 to the patterns behind modern media consumption, Peter talks us through the intricate web of behavioral oddities that extend beyond finance.
He talks about the “K-shaped recovery” – how different segments of the population are experiencing different economic realities.
He touches upon economic, political, and social trends, and the hidden dynamics that shape market behavior and reveal the profound impact of consumer confidence.
Our conversation will leave you with a deeper understanding of how behavioral patterns shape the financial landscape – including your investments.
Enjoy!
By Paula Pant
Jackie is a 42-year-old paralegal with two rental properties. She wants to buy three more. She asks for Paula’s thoughts about today’s economy. Should she buy under these economic conditions?
Jen’s husband will retire with a pension that pays twice their living expenses. Does she still need her own retirement account?
Rachael just bought a duplex, which she wants to househack. But she’s having second thoughts. Did she bite off more than she can chew?
“Minouche” is a return caller with new information: she believes that borrowing from Dad is her only path to home ownership. Does this change Paula and Joe’s advice to her? (And is it even true?) And Molly, a concerned mom, shares some thoughts about this situation.
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
By Paula Pant
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.
By Paula Pant
The majority of financial advice is geared to people with 9-5 jobs:
• “Negotiate for a raise.”
• “Max out your 401k match.”
• “Budget based on your income.”
Where’s the financial advice for people who earn money in tips: restaurant servers, bartenders, hairstylists, concierge, valets, ushers, nail salon workers, strippers, or other service industry professionals?
What about gig economy workers, freelancers and entrepreneurs? People who don’t earn a regular paycheck?
Not only do these workers earn a volatile and unpredictable income, they also often don’t have job-provided health insurance, retirement plans, and paid time off. They need to provide themselves with these benefits. What should they do?
That’s where Barbara Sloan comes in. She’s a financial coach and author of “Tipped: the life changing guide to financial freedom for waitresses, bartenders, strippers, and all other service industry professionals.”
Her book and advice applies to anyone who works outside of the traditional confines and systems.
If you (or someone you know) works for tips, you’ll love Barbara. And if you’re curious about exploring work outside of the normal 9-to-5, and wonder how to set yourself up for financial success when your income is hit-or-miss, this episode is for you.
Enjoy!
By Paula Pant
Behavioral researcher, Vanessa Van Edwards, talks to us about the critical importance of charisma – and how to use the perfect blend of warmth and competence to be charismatic.
Dr. Michael Slepian walks us through what secrets mean, what they cost, and how we think about them.
We dive into the world of long distance real estate investing, and talk about two of the major components of investing – Cash and mindsets – to help you determine if long distance real estate investing is right for you.
International best selling author, Julie Winkle Giulioni, reviews eight dimensions of career development and how to navigate them.
Chris Hutchins, entrepreneur and life hacker extraordinaire, spills his best secrets on optimizing spend to travel more cheaply.
Kiersten and Julien Sanders join us to discuss money topics for couples, and their framework for being financially independent in 15 years.
Stanford professor Jeremy Utley breaks down the art of creativity and producing new ideas – and shares actionable tips on how we can be more creative and have better ideas.
Dr. Daniel Crosby discusses how we are not wired to be good investors, and how to overcome our evolutionary wiring.
Enjoy this compilation of our favorite episodes to air in the second half of 2022.
