Afford Anything

Category: Personal Finance 101

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#430: Ask Paula: My Parents Are Drowning In Credit Card Debt. What Should I Do?

D is worried that she’s going to suffer from her parents’ poor financial choices. Is it time to confront them about it?

An anonymous caller and her fiance both own a house. Which one do they move into after the wedding?

In a world of rising inflation, Nick wants to know if it’s time to change the way he saves for his future.

Another anonymous caller wants to buy a second home within a decade. How does she start planning now?

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.

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#428: Ask Paula: Do I Really Need a Financial Advisor?

Jamie currently lives at home and dreams of reaching financial freedom by her early 30s. How can she take advantage of her low expenses to accelerate her wealth building?

An anonymous caller has enough to retire in 5 years. Does she still need her financial advisor or is it time to do it on her own?

Meghan is a personal finance enthusiast who wants to start a coaching side hustle. What’s the best way to get started? 

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

Enjoy!

P.S. Got a question? Leave it here.

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#425: Ask Paula: My Dad Died, and My Mom Is CLUELESS About Finances

Ellen’s dad died unexpectedly. Her mom is clueless about finances. How does she help a 70-year-old unravel financial complexities?

Mike has an opportunity to buy into his friend’s growing business. What should be his legal, financial, and relationship considerations?

Pepp wants to know what’ll happen to her Restricted Stock Units when her company goes private.

An anonymous caller needs to build her nest egg. She’ll be a full-time student with no income. She has 20 years until retirement. Should she execute a Roth conversion?

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.

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#423: Ask Paula: Can I Make Money with My Passion?

We’ve heard the warnings about following your passion.

People ask if you can *actually* make money doing what you love. They frame the question “passion or profit?” as though these are in opposition.

The majority – who have never tried – decry, “what if you fail?”

Nobody asks the more important question: what if you succeed?

Are you still going to love your passion when you rely on it to pay the bills?

We grapple with that question in today’s episode, which is devoted to side hustles and starting a business. We use questions from two of our listeners as a jumping-off point to discuss the realities of going into business for yourself, doing what you love.

We share examples from our own lives as professional podcasters, as well as from the lives of friends who are full-time photographers, musicians, writers and other creative entrepreneurs.

Enjoy!

P.S. Got a question? Leave it here.

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#422: Ask Paula: We’re Saving 72 Percent Of Our Income…and It SUCKS

Emily is saving aggressively for financial independence, but it’s hard to enjoy the present. Is it time to increase spending?

Monroe wants to stop working. Forever. Which is more important: debt payoff or investing?

Another anonymous caller and his spouse dream of building a homestead on an expensive piece of land. How much is too much to spend on housing?

Given the high costs of moving, Sarah wonders if buying a starter home is the best decision. Should she and her fiance jump straight to buying their forever home?

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.

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#420: What We Learned in 2022, with Paula Pant

Dr. Ellen Vora, M.D., shared insight into the roots of procrastination, offering evidence-based tips for how to overcome our own inner demons of anxiety, fear and laziness.

Psychology professor Bill von Hippel described why too much happiness is just as detrimental to our long-term health and wellbeing as too little happiness.

Wall St. Journal columnist Spencer Jakab observed the perfect storm of conditions that gave rise to meme stonks and other oddities of our era.

Former financial planner Joe Saul-Sehy argued for “strategic under-diversification” and explained the Sharpe Ratio.

Data scientist Nick Maggiulli explains the save-invest continuum.

And financial planner Bill Bengen, the creator of the 4 percent retirement withdrawal rule, talks about what most people misunderstand about the safe withdrawal rate.

These are just some of the highlights from the Afford Anything podcast in this 2022 year-in-review episode.

Enjoy!

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#419: Ask Paula: Should I Stay At My Job For the 401k?

Casey isn’t happy at her job. If she leaves before her one-year mark, she’ll lose her 401k contributions. Should she stay or find a new job?

Ryan’s investing for his son. If the yield is the same between two mutual funds, can he leave his son with more money if one mutual fund pays dividends more frequently?

Emily already maximizes her 401k contributions. Should she contribute to an after-tax 401k next?

Daan resides in a high-cost-of-living area where real estate appreciates rapidly. But there’s no cash flow. How should he evaluate real estate as an investment?

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.

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#417: Ask Paula: Marriage and Money – What Are the Right Conversations?

Our first anonymous caller is getting married. What are the financial considerations the couple should be thinking through since there is a large income gap between them?

Our second anonymous caller is concerned about her ability to continue working due to major depression. Should she consider disability insurance?

Carly is an accidental landlord and would love […]

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#414: Ask Paula: I Think I Can Retire Early. Am I Delusional?!

Natasha thinks she and her husband have saved enough to retire early, but they’re scared. Are they ready or are they delusional?

Should Krista tap into the equity from one of her rentals to rebalance a portfolio that is weighted heavily in real estate?

Anonymous is a savvy investor who wants to retire early. She wonders if she should hire a financial advisor, or if she can manage her investments herself.

Amanda is worried that her recently diagnosed health condition might force her to stop working.  How should she financially prepare her family?

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.

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#412: Ask Paula: Should I Repay Debt or Invest?

Taylor recently graduated. She wants to reach financial independence as soon as possible. What should she do first: invest or repay low-interest debt?

Carter doesn’t want to pay too much for his investments. He’s worried about the tax drag. He wants to know how to improve cost efficiency in his portfolio. How should he manage decisions about basis points, dividends and capital gains?

Our first anonymous caller has been working and investing for a decade. Today her portfolio is large enough that she and her husband can finally take a mini-retirement.

They’d like to rebalance their portfolio. They want it to reflect the fact that they won’t be working for a while. They’d also like to calculate how much money they need to travel with their children. How should they handle this?

Our second anonymous caller is worried that their portfolio is out-of-whack. Their money is in a target date retirement fund. They’d like to move some of it to a three-fund portfolio. But this is a scary time to sell. Stocks are low. What should they do?
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.

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