Afford Anything

Tag: ask paula

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#512: Don’t Let One Big Bill Blow Up Your Budget (Here’s How)

An anonymous caller who received a large inheritance feels paralyzed by all the investment philosophies he’s read about. How does he pick a winning strategy he can stick with?

Josh is an expectant dad looking to buy a bigger house but doesn’t know how much everything will cost. Should he save more or invest more?

Another anonymous caller worries that large expenditures like buying a new car or replacing her home’s roof will blow up her budget in retirement. How does she plan for unexpected expenses?

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

Enjoy!

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#509: “I’m Retiring at Age 34 and a Half!”

Rob wants to retire early, but a real estate investment led to $30,000 of credit card debt. Should he take on more debt to pay it off?

An anonymous return caller took Paula’s advice and ran with it, doubling her income within a few years. Should she update her investment strategy now that she’s in a higher tax bracket?

Humaira is tired of paying rent with nothing to show for. Can she leverage some benefits by using her credit card to pay the bills?

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

Enjoy!

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#507: How One Ex-Inmate is Building a Better Future

Suzy is excited to deploy her first corporate bonus but scared to invest everything in a lump sum. Should she stick with what’s worked in the past and just dollar cost-average?

Meghan doesn’t understand how stock pricing affects capital appreciation. Is it always better to buy when share prices are low?

Robert was recently released from prison and wants to start his life on the right foot. What’s Joe and Paula’s advice for him?

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

Enjoy!

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#496: The Pay Cut Price of Freedom

How much of a pay cut would you take for a lighter workload?

Paul, 35, is grappling with that question. Like many of us, Paul says he loves his job, but the hours are demanding. He would love to work less. But he didn’t think the opportunity would come so soon.

You see, Paul is a dedicated saver. He’s spent years trying to build financial independence. He’s amassed a net worth of $910,000, with no debt.

His ideal early retirement, which would be filled with travel and hobbies, requires more money. Besides, he enjoys his career.

That’s why Paul thought he’d work full-time for several more years. He felt happy with that plan.

But an interesting opportunity recently arose.

Paul’s workplace has offered him the chance to drop his hours – and his salary – by 25 percent. He’d love to work less. But the salary cut is earlier than he’d planned.

Should he take it?

Today, we kick off the podcast episode with this question.

After that, we turn our attention to an anonymous caller. She and her husband want to retire at 55. They also want a bigger home, a better car, and to start growing their family. Can they afford it all?

Meanwhile, Tim spent his 20’s in medical school. He missed out on retirement savings during those years. He’s eager to catch up. What’s the shortest path to get there?

Finally, Matthew and his family dream of leaving Florida for the Pacific Northwest. Will they regret selling everything to start over?

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

Enjoy!

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#494: My Husband Makes Double My Income, But Saves Nothing! Should I Be Worried?

Tatyana is about to pay off her house at age 39! What’s next? Her husband, who earns twice as much (and whom she met after she bought the home), has no savings. They want a boat. Should she focus there?

Matthew recently ended a relationship that resulted in a real estate buyout with an 8.1 percent interest rate. With rates expected to decline, how long should he wait to refinance the loan?

Rachel’s friends know her as the finance gal, but she’s stumped about closed-end funds. What should she know about these investments?

Erin and Angelique call in with a loan strategy to tackle Steve’s double mortgage dilemma from Episode 487.

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

Enjoy!

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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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#489: Ask Paula: What to Do with a Six-Figure Windfall?

Cara made $100,000 in commissions this year, her biggest bonus ever. What should she do with the money if she wants to retire early?

An anonymous caller and his partner have lived in an RV for years. They’re ready to settle. Should they sell most of his investments to purchase raw land and build an off-grid home?

Remy and her husband need to come up with $30,000 for IVF treatments. How do they build their family without breaking the family finances in the process?

Another anonymous caller is upset that the 401k plan he sold his boss on is charging him an Assets Under Management (AUM) fee. Should he keep the 401k at all?

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

Enjoy!

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#487: Ask Paula: “Should I Put My Dreams on Hold … and Buy a House Instead?”

Luis’s wife is killing it at her side hustle. The unexpected income has led Luis to YouTube for hacks to capitalize on their surplus. Can a 529 plan double as long-term care savings?

Elizabeth is frustrated with the housing market. She’s been saving for years but isn’t anywhere near her goal. Should she give up and spend it on a dream pottery course instead?

Steve has a dilemma. He doesn’t borrow money on principle. And his wife doesn’t want to sell their current house until they’ve closed on the next one. How is he going to make this work?

Greta wants to “reverse” rollover an IRA into a 401k to avoid the pro-rata rule. Is that a thing?

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

Enjoy!

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#484: Ask Paula: The Hidden Cost of Public Service Loan Forgiveness

Kristen’s financial advisor charges a 1.3 percent fee on her investments. They also sold her term life, whole life, and long-term disability insurance. Do they have her best interests at heart?

Casey has $290,000 in student loan debt. He committed 10 years to one employer for a chance at public service loan forgiveness. But five years in, Casey questions what he’s missing out on.

Sara feels like it’s time to move to a more conservative asset allocation but she’s torn between buying bonds from Vanguard or Treasury Direct. What’s the difference anyway?

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

Enjoy!

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

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Afford Anything