In today’s episode, I answer two questions about financial independence and the FIRE movement, followed by four questions about rental property investing.
By Paula Pant
#160: The Paradox of FI — with Jonathan Mendonsa and Brad Barrett of Choose FI
When Jonathan Mendonsa was 18, he researched which college degrees lead to the highest income.
Pharmacy was near the top of the list of high-paying degrees, so Jonathan decided to become a pharmacist. He wasn’t motivated by passion or calling. His decision was purely tactical. He wanted to make money.
He spent four years in college, followed by another four years of graduate school. By age 28, he held a Doctorate in Pharmacy and an astounding $168,000 in debt.
This debt burden might have been bearable if Jonathan loved his chosen profession. For people who love their fields, tuition is the price of being able to enjoy a lifetime of work they love.
By Paula Pant
#159: Ask Paula – I Have Three Kids and I’m Hoping for Financial Independence
Should a 36-year-old father of three invest primarily in Traditional or Roth retirement accounts? Should Rose, a grandmother of four, open a Vanguard account for each of her grandchildren?
Should Nancy, who lives overseas and is the sole breadwinner in her family, invest in a Traditional or Roth TSP?
Should Scott’s wife rollover her 403(b) from her former employer into an IRA?
Should Patrick, age 35, cancel his life insurance plan?
Former financial planner Joe Saul-Sehy and I answer these five questions in today’s episode.
By Paula Pant
#158: What I Love About the FIRE Movement – with Clark Howard
Clark Howard loves the FIRE movement. That’s because he’s one of us.
Clark began investing in real estate at age 22, started a travel agency at age 25, and retired at age 31.
He sold his travel agency, moved to the beach and relaxed for four years; then he started a second career as the […]
By Paula Pant
#157: Ask Paula – Can You Force a Rental Property to Cash Flow?
We’re back with another Ask Paula – Real Estate Edition of the show!
In this episode, we cover down payments, cash flow, investing in condo hotels, building a rental on the side of your own house, selling your properties, and whether it’s better to buy actual properties or REITs.
Erin asks:
Would you ever put […]
By Paula Pant
#156: How to Build Incredible Habits – with James Clear
James Clear wanted to start flossing, but he never managed to follow through. Despite his best intentions, his dental floss sat unused in a bathroom drawer.
Fortunately, James had learned a thing or two about human behavior and habit formation. As a self-improvement writer, he’d spent hours pouring over scientific data about behavior changes. He […]
By Paula Pant
#155: Ask Paula & Joe – How Can I Send My Four Children to College?
How can a schoolteacher dad and stay-at-home mom send their four kids to college? Where should a 23-year-old keep the savings that she’s accumulating to buy a home by the time she’s 27 or 28?
What should a listener know about retirement planning if he has a pension? And should a listener rollover his 401k […]
By Paula Pant
#154: You’ll Need at Least $10 Million to Retire Early, says Suze Orman
Want to retire early? You’ll need at least $5 million, more likely $10 million, says famous financial personality Suze Orman.
I should know. She said that to me, directly, on this podcast.
I asked Suze for her opinion about a frugal, flexible person who wants to retire early with a $2 million portfolio. She warned […]
By Paula Pant
#153: Why I Hate the FIRE Movement, says Suze Orman
A few weeks ago, Suze Orman’s team reached out to me and asked if I’d be interested in chatting with Suze on my podcast.
“Duh,” I replied.
Suze Orman is one of the most famous voices in the world of personal finance. From 2002 to 2015, she hosted The Suze Orman Show on CNBC. She’s […]
By Paula Pant
#152: How to Make Better Decisions — with Dr. Brian Portnoy
Dr. Brian Portnoy is an expert in making decisions.
He holds a Ph.D. from the University of Chicago, he’s a Chartered Financial Analyst, and he’s the Director of Investment Education at Virtus Investment Partners.
Dr. Portnoy joins me on the podcast to discuss how to make smarter decisions — not only about investments, but also […]
