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Category: Investing

September 2, 2019By Paula Pant

#212: How Andrew Hallam Became a Millionaire on a Teacher’s Salary

It’s September!! If you’ve been listening to the show for the past few months, then you know that I’m on what I’ve dubbed my September Sabbatical, in which I’m taking a break from podcast production and traveling the globe.

In light of that, we’re digging through the archives and airing some of my favorite interviews on the show, in between airing interviews I’ve done on other podcasts.

The first episode we’re bringing back is part one of a two-part interview with Andrew Hallam, a teacher who became a millionaire in his 30s and reached FI in his 40s.

How? Beyond investing small sums (we’re talking less than $100 per month) throughout college, he also saved half of his starting salary of $28,000.

Yes, you read that correctly. This episode is awesome for anyone who thinks it’s impossible to reach FIRE on a low salary.

I originally interviewed Andrew in January 2017, and we could not stop talking. Which is why our three-hour interview was divided into two parts.

In this first part, Andrew shares his story – how he became a millionaire, and why he wanted to achieve FIRE in the first place.

Keep reading...

April 9, 2019Written By Paula Pant

Six Percent is the New Four Percent

Today’s article is extra-nerdy. Pull on your Coke-bottle reading glasses and let’s run through a little bit of math.

Ready? Let’s go.

If you’re retiring on index funds, you might plan your retirement on the 4 percent withdrawal rule.

But if you’re retiring on rental properties, you could use the equivalent to a 6 percent withdrawal rule.

This holds true even if total returns on the two investments are the same.

Keep reading...

August 20, 2018By Paula Pant

#146: Ask Paula – Where Should I Keep My Money if I Want to Retire Early?

My friend and former financial advisor, Joe Saul-Sehy, joins me to answer a multitude of questions on retirement savings and investing, so let’s dive in.

Elyse has two questions:
#1: Through her job, Elyse has a 401(a) hybrid. Right now, she contributes 0.5% as her employer will contribute 2.5% only when she contributes 4%.

 […]

Keep reading...

April 16, 2018By Paula Pant

#125: How to Gain a Competitive Edge, with Morgan Housel

Morgan Housel has spent thousands of hours reading about investing.

As a former columnist for the Wall Street Journal and The Motley Fool, he’s spent more than a decade reading, interviewing, thinking and writing about how to manage money.

And he’s come to a simple conclusion: less is more.

Doing nothing is often the best […]

Keep reading...

March 20, 2018Written By Paula Pant

Here’s a Counterintuitive Idea for Your Retirement …

Once upon a time, in southern California in 1994, there lived a man named William Bengen.⠀

His friends called him Bill.

Bill was born in Brooklyn, and he studied aeronautics at MIT. He wrote a big paper on advanced model rocketry. Then he became an executive at a soft drink company. Finally, 17 years […]

Keep reading...

March 5, 2018By Paula Pant

#119: How Much Can I Spend in Retirement? – with Dr. Wade Pfau

Once upon a time, in southern California in 1994, there lived a man named William Bengen.

He read many claims, widespread at the time, that said that since the markets return at least 7-9 percent compounding rates on average, retirees could withdraw and spend 7 percent of their portfolio.

William had a hunch that this […]

Keep reading...

September 18, 2017By Paula Pant

#95: Money for the Rest of Us, with JD Stein

J. David Stein used to manage billions of dollars.

As the Chief Investment Strategist at Fund Evaluation Group, LLC, a $33 billon investment advisory firm, Stein developed the group’s investment philosophy and process.

He guided investments for major universities and nonprofits, including the Texas A&M University System and the Sierra Club.

He retired at age […]

Keep reading...

January 9, 2017By Paula Pant

#59: Andrew Hallam: How I Became a Millionaire on a Teacher’s Salary

“I was working at a bus depot,” says Andrew Hallam, describing the summer that changed his life.

“I was 19, and I was saving money for college. It was a night shift, and there was a mechanic there [named Russ]. Everybody said to me — if Russ wants to talk to you about money, […]

Keep reading...

June 27, 2016By Paula Pant

#31: The Simple Path to Wealth, with Jim Collins

Jim Collins, also known as popular blogger JLCollins, has been financially independent since 1989.

He achieved this in the simplest way possible: he saved half of his income and invested in index funds. That’s it.

Jim says that if your goal is to build financial freedom, the simplest possible approach is the […]

Keep reading...

January 19, 2016Written By Paula Pant

I Don’t Know How to Invest and I’m Afraid of Making Expensive Mistakes

Back in March 2015, I had asked new Afford Anything subscribers to answer two questions:

What’s your wildest dream? What’s keeping you from getting there?

After reading through thousands of responses, I heard a theme emerge:

“I don’t know how to invest, and I’m afraid of making expensive mistakes.”

Let’s tackle that today.

As a […]

Keep reading...

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