Today I release the first “Ask Paula” episode. I’m rockin’ the mic solo, answering your questions about index funds, credit card debt and socially responsible investing.
One listener has “crapton” of credit card debt. He’s thinking about hanging onto his debt, though, and using his savings to make a downpayment on a house. Is this smart?
Another listener asks what I think about multi-level marketing companies. Should she try to make money from these?
One listener says she inherited some money and wants to invest, but she’s hesitant to buy index funds. Because index funds hold so many companies, she explains, they’ll inevitably hold some companies whose practices she ethically opposes. What should she do? Should she avoid index funds? Is it okay to profit from companies that you disagree with?
I deep-dive into the answers, offering advice for these three listeners. (And I rant for about two minutes. It’s epic.)
Enjoy!
Melanie Sorrentino
Your description of someone being a hippie and running from everything that seems to be “the problem” was me. After 9 years of veganism I learned that an agricultural diet isn’t sustainable and has an impact on the environment identical to factory farming. When I quit being vegan I bought a tiny house & land in order to build a life in line with my values. We did have electricity. I wasn’t sure my long term plan because the only way to build solar panels (or anything with copper wiring, really) requires mountain top removal. In your analogy of starting at center and always taking a step 1 degree off of course in order to compensate for an obstacle…. to only find yourself light years away for center.
Fortunately going to those extremes had me do a complete personality/value/lifestyle overhaul. Looking back I think I was completely insane but with good intention. How embarrassing.
When ever I hear anyone talk about the subject it makes me want to write a book or do a youtube video series on the subject. But then I try to meditate the mental noise away.
On a different note: I want to compliment you on not pandering or settling for vague response with your guests. And those Jay blooper clips are pure gold.