Afford Anything

Tag: 401k loan

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#492: How Does Side Hustle Income Affect Retirement Contributions?

Christine’s business is struggling. She needs more income. If she adds a full-time remote job to her plate, how will her retirement and finances change?

Rob enjoyed a banner year in 2023. He made over $1 million. But the sting of income tax has him making moves that violate his investment strategy. Is his tax tail wagging the dog?

Gena is excited to make the most of business deductions. Can she contribute 100 percent of her wages to a 401k and have the company match that?

Christina is tired of living like a pauper in the name of student loan repayment. Is Public Service Loan Forgiveness the answer?

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

Enjoy!

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#467: Ask Paula: Use One Debt to Pay Off Another?

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!

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By Paula Pant

#225: Ask Paula – How to Invest for the Next Five Years

Lauren is 26 and earns $48,000 per year after taxes.

She saves $12,000 annually in retirement accounts, and an additional $18,000 per year for a downpayment on a home.

She wants to buy a home in the next five years. Where should she keep her savings in the meantime?

Sawyer has a five-year financial independence plan. She owns two high-end condos in a NYC suburb. She lives in one unit and rents out the other, but she’s bothered by the fact that she’s forgoing collecting rent on the other unit. Should she move?

Katie’s husband is going back to grad school and they want to pull money out of a retirement account to help fund this cost. Are they able to do that? Or is there a better option for short-term investments that they should use?

Cassie is in the process of finalizing a divorce. She and her daughter will receive between $80,000 – $116,000. Should they use the funds to buy a home with a 20 percent down payment or pay off their $30,000 debt?

Andy is curious: should you re-adjust the 4 percent withdrawal rule if your investment portfolio grows?

Joe wants to become self-employed but is concerned about health insurance. What are some affordable options?

Laura is close to pulling the FIRE alarm but her fiance wants to keep working. She wants to know what will change once they get married. Should they file taxes jointly or separately?

Doug is interested in learning more about equity sharing programs. Are these safe to invest in?

Tania wants to know: can you open and fund a Roth IRA if you haven’t worked in the past two decades, but earn alimony?

Brian took out a 401k loan to purchase a new car and regrets his decision. Would it be a wise move for him to take out a personal loan to pay back the 401k loan?

Former financial planner Joe Saul-Sehy and I answer these questions in today’s episode. Enjoy!

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By Paula Pant

#205: Ask Paula – Am I On-Track for Retirement?

Is it ever a good idea to use your 401(k) as an emergency fund?

What’s the best way to break up with your financial advisor so that you can move all of your funds to Vanguard?

Should you put all of your Roth IRA money into index funds, or is there a better option for your money?

A listener has a job offer working less hours for more money, but without a retirement plan. Is this a good move?

When running a small business as a sole proprietor, are there tax advantages to incorporating or forming an LLC? If so, what should you consider?

What’s the best way to maximize the earnings on a large amount of savings while keeping the savings liquid? Can a robo-advisor help with this?

Myself and former financial planner Joe Saul-Sehy tackle these six questions in today’s episode. Enjoy!

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