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Tag: ask paula

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#425: Ask Paula: My Dad Died, and My Mom Is CLUELESS About Finances

Ellen’s dad died unexpectedly. Her mom is clueless about finances. How does she help a 70-year-old unravel financial complexities?

Mike has an opportunity to buy into his friend’s growing business. What should be his legal, financial, and relationship considerations?

Pepp wants to know what’ll happen to her Restricted Stock Units when her company goes private.

An anonymous caller needs to build her nest egg. She’ll be a full-time student with no income. She has 20 years until retirement. Should she execute a Roth conversion?

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

Enjoy!

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

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#423: Ask Paula: Can I Make Money with My Passion?

We’ve heard the warnings about following your passion.

People ask if you can *actually* make money doing what you love. They frame the question “passion or profit?” as though these are in opposition.

The majority – who have never tried – decry, “what if you fail?”

Nobody asks the more important question: what if you succeed?

Are you still going to love your passion when you rely on it to pay the bills?

We grapple with that question in today’s episode, which is devoted to side hustles and starting a business. We use questions from two of our listeners as a jumping-off point to discuss the realities of going into business for yourself, doing what you love.

We share examples from our own lives as professional podcasters, as well as from the lives of friends who are full-time photographers, musicians, writers and other creative entrepreneurs.

Enjoy!

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

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#422: Ask Paula: We’re Saving 72 Percent Of Our Income…and It SUCKS

Emily is saving aggressively for financial independence, but it’s hard to enjoy the present. Is it time to increase spending?

Monroe wants to stop working. Forever. Which is more important: debt payoff or investing?

Another anonymous caller and his spouse dream of building a homestead on an expensive piece of land. How much is too much to spend on housing?

Given the high costs of moving, Sarah wonders if buying a starter home is the best decision. Should she and her fiance jump straight to buying their forever home?

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

Enjoy!

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

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#417: Ask Paula: Marriage and Money – What Are the Right Conversations?

Our first anonymous caller is getting married. What are the financial considerations the couple should be thinking through since there is a large income gap between them?

Our second anonymous caller is concerned about her ability to continue working due to major depression. Should she consider disability insurance?

Carly is an accidental landlord and would love […]

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#414: Ask Paula: I Think I Can Retire Early. Am I Delusional?!

Natasha thinks she and her husband have saved enough to retire early, but they’re scared. Are they ready or are they delusional?

Should Krista tap into the equity from one of her rentals to rebalance a portfolio that is weighted heavily in real estate?

Anonymous is a savvy investor who wants to retire early. She wonders if she should hire a financial advisor, or if she can manage her investments herself.

Amanda is worried that her recently diagnosed health condition might force her to stop working.  How should she financially prepare her family?

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

Enjoy!

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

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#412: Ask Paula: Should I Repay Debt or Invest?

Taylor recently graduated. She wants to reach financial independence as soon as possible. What should she do first: invest or repay low-interest debt?

Carter doesn’t want to pay too much for his investments. He’s worried about the tax drag. He wants to know how to improve cost efficiency in his portfolio. How should he manage decisions about basis points, dividends and capital gains?

Our first anonymous caller has been working and investing for a decade. Today her portfolio is large enough that she and her husband can finally take a mini-retirement.

They’d like to rebalance their portfolio. They want it to reflect the fact that they won’t be working for a while. They’d also like to calculate how much money they need to travel with their children. How should they handle this?

Our second anonymous caller is worried that their portfolio is out-of-whack. Their money is in a target date retirement fund. They’d like to move some of it to a three-fund portfolio. But this is a scary time to sell. Stocks are low. What should they do?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it here.

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#409: Ask Paula: Should I Sell My Rentals to Buy More Stocks?

Liz and her husband are planning to retire in 5 to 10 years. They have rental income properties, but Liz is bored of managing these, and she’s intrigued by the idea of buying stocks at a discount when the market is low.  Should she sell her rental properties and use the money to buy stocks instead?

Rebecca is a high income earner and thinking about investing in a Roth 401k … but she’s scared of how much she’ll have to pay in taxes. Should she do it anyway?

Anonymous made big changes last year: she got a new career AND sold a house! Now she needs help figuring out capital gains and lowering how much she’ll have to pay in taxes … and she won’t have access to her company’s 401K for most of the year.

Kyle and his wife are moving into their dream home! What should they do with their current place?

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

Enjoy!

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

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#407: Ask Paula: The 5 Types of Accountants (and Who To Avoid!)

Ionnie wants to vet her tax professional as diligently as she assesses her financial advisor – how should she go about doing that?

Anonymous needs a career change, and she needs help figuring out how to approach the decision making process when choosing and preparing for her next field of employment

MM prefers the simple path to wealth and investing in real estate but is looking for more information on a more intentional and selective approach to investing.

Ingrid calls in to ask whether she should include her rental income when trying to figure out how much she can contribute to her Roth IRA.

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

Enjoy!

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#405: Ask Paula: WHOA – We Got a $750,000 Windfall; How Should We Spend It?

Daniel and his wife want to go on an extended vacation and leave their jobs next year…and still have money in case there’s a problem at their rental properties. Would a HELOC help them?

Anonymous and her husband have received a large commission and want to understand how to better plan for their future by optimizing for these inconsistent windfalls.

Brian has hit coast F.I.R.E and would like guidance on how to prioritize between tax advantaged accounts and retirement accounts.

Anonymous and his wife have been focused on getting short term rentals in a single location – is his portfolio too focused on this singular strategy??

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

Enjoy!

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

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#399: Ask Paula: The Stock Market Is Down – Can I Still Retire?

Bella is SO CLOSE to reaching F.I.R.E and is worried about her withdrawal rate if the stock market drops. If the stock market does drop, can she withdraw as much as she had originally planned?

Sam has been investing for several decades and thinks that he should stay invested in his portfolio, despite the recent drop in value…but he is still wondering if there’s a chance that he should sell.

Meisha is making more money at her new job but can’t contribute to her 401(k) for the first six months – what should she do with her extra money in this interim??

Kyria is a young investor with multiple goals: she’s wondering how to best save for a down payment without it being eroded by inflation and also whether her investment choices should take on more risk, since time is on her side.

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

Enjoy!

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