Afford Anything

Tag: ask paula

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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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#482: Ask Paula: Should We Drain Our Brokerage to Make a HUGE Down Payment?

A caller named “M” wonders if liquidating stocks for a larger down payment makes sense in a high-interest rate environment.

An anonymous caller wants to take a pay cut to pursue his passions. But 75 percent of his net worth is in real estate. Is this too risky?

Tiffanie hasn’t saved enough for early retirement, but she has a plan to use home equity to accelerate her goals. Is this going to work?

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

Enjoy!

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#479: Ask Paula: Is Mom Getting Ripped Off by Her Investment Advisor?!

Nicole’s 78-year-old mom is paying huge fees for low returns. How can Nicole help her mom make better investments?

Nick is in his 40’s. His long-term care insurance rate is nearly doubling. Should he stop spending on this type of insurance?

Paul is a single dad, worried about paying his daughter’s college costs. He’s trying to figure out how to report lower income on the FAFSA, so that his daughter can get better financial aid.

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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#471: Ask Paula: I Came Into A Lot of Money. What Should I Do With It?

Bob split a $350,000 windfall between savings and paying down his mortgage. But now he’s wondering if he made a good choice. Can Paula and Joe do the math to justify his gut-driven decisions?

Julia wants to tap the equity from a second home to buy a third home in Texarkana, Texas. Is this a good plan?

Joey Jr. wants to retire early, put two kids through college and buy a vacation home within the next five years. How can he afford to do it all?

An anonymous caller wonders if $1 million is a good budget for a retirement pad.

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

Enjoy!

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#469: Ask Paula: Feeling FOMO About Your Home Equity? Here’s What to Do

Lindy feels like her $300,000 of accumulated equity could be put to better use. But she doesn’t want to buy more real estate right now. What’re her options?

Katie wants to become a landlord in her home state but she’s concerned about the effects of redlining. Should she look into Section 8?

Claudia lives in Germany and wants to buy an apartment in Manhattan. But she knows nothing about US real estate. Where does she start? 

I tackle these 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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#463: Ask Paula: Student Loan Deferment HACK – How Christina Saved $60,000 in Interest

Christina recently slayed her debt and put herself on track for financial success. But now she’s bored. How can auto-investing be more exciting?

Speaking of debt, Christina shares a creative HACK to SAVE $60,000 in student loan interest payments. 

Mary is struggling to compare two job offers: one from a large corporation and another from a tiny business. How should she decide?

An anonymous caller wants to buy a different home, and convert his current home into a rental. How should he finance this move?

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

Enjoy!

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#461: Ask Paula: A Year Off Work, a Career Change, and a Divorce: How to Make It Work

Today we’re featuring a special episode recorded LIVE in front of an audience at Podcast Movement, an industry conference in Denver.

Former financial planner Joe Saul-Sehy and I tackle two questions in today’s episode. Our first question comes from a soon-to-be-single-mother on the precipice of divorce. How should she navigate this financially?

Our second question comes from the spouse of a Purple Heart veteran of the war in Afghanistan. She and her husband would like to take a one-year sabbatical from work when they turn 40, which is in five years. They’d also like to pivot into lower-paying but more enjoyable careers. How should they map out their money for this transition?

Joe and I dedicate this episode, recorded live on stage, to answering these two questions. Enjoy!

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#459: Ask Paula | 10-Year-Old Asks: How Do I Save for My First Car?

Andrey is a savvy 10-year-old wondering what’s the best way to save up for his first car.

Ingrid wants to know if her parents’ preference for Retiring on Dividends is a better approach compared to the 4 Percent Rule.

Erica’s part-time work schedule will place her in an unusually low tax bracket this year. Should she take this rare chance to execute a Roth conversion? Or is it better to prioritize debt payoff?

Chloe is worried about the end of student loan forbearance. Should she pull back from making retirement contributions to focus on debt payoff?

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

Enjoy!

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Afford Anything