Afford Anything

Tag: financial freedom

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#382: Ask Paula: There’s No Such Thing as a FIRE Number

Sara wants to leave her job to spend time with her children, and she needs help in calculating her FIRE number. But is this possible?

Joe is buying his first house hack and would like to understand if the FHA loan or the doctor loan would be better for him.

Kat received a windfall and is wondering if she should invest it in stocks, real estate, or a combination of both.

Aisha is moving to the US and wants to start investing ASAP – how should she approach her goal to reach FIRE?

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

Enjoy!

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

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#378: Ask Paula: Should I Take a Higher-Paying Job if I Can’t Save As Much for Retirement?

Anonymous is 25. She has a job offer that comes with a substantial raise. Hooray!

Buuut … there’s a problem. If she accepts this job offer, her new employer won’t allow her to contribute as much money to her company retirement accounts.

How should she think about the trade-off between increasing income and funding her retirement?

Meanwhile, Dan from California is retiring soon and wants to know what he and his wife should do with the loan they took out against their 401(k).

Finally, an anonymous caller who goes by “Daughter” has a whole life policy that only costs her less than $50 per month. Since her policy is so cheap, should she keep it?

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#376: Ask Paula: How Should My 64-Year-Old Mom Handle a Toxic Boss?

Meghan’s mom is 64 years old and suffering under a toxic boss. It’s tough to switch jobs at her age. How should she think through the next steps?

Ellen has a 20-year-old son with physical and developmental disabilities. Her other child, age 21, will need to look after him for the rest of their lives. How should she handle their inheritance? 

Joe wants to start working part-time in four years, and fully retire four years after that. He worries he’s investing too aggressively for his retirement date.

In today’s episode, former financial planner Joe Saul-Sehy and I tackle these tough situations.

Enjoy!

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#374: Ask Paula: Watch Out! Here’s How Lowering Your Investment Tax Bill…Might Increase Your Risk

Jake wants investment cash flow until he’s eligible for his military pension in 10 years.  Should he buy small multifamily properties right now, wait a few years and invest in syndications or should he invest in index funds through taxable accounts?

Andy in Palm Springs is shoveling money into a taxable brokerage account. He wants to use these investments to create another stream of income. But there’s a problem: his tax bill is going to be high. What should he do?

Anonymous is a U.S. citizen, lives in London, and can’t invest in index funds. Can he emulate the index fund experience by directly buying a huge number of individual stocks?

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

Enjoy!

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#364: Ask Paula: No Spouse, No Family, And Thinking About Getting Old – How Do I Prepare?

Hypothetical from the Hampton Inn is curious about whether he should keep his 30 year term life insurance policy or let it lapse with 12 years left on the policy.

Ramon asks us about the details behind infinite banking.

Anonymous Emily is wondering which financial products would work best to cover care and expenses as she ages.

Max is thinking through real estate and stock market returns as they relate to future population trends.

Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.

Enjoy!

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#362: Ask Paula: Okay Seriously, Why Hasn’t Anyone Solved the Budgeting Issue?

David is questioning how to better manage his spending. He’d like a stronger framework to think through budgeting challenges.

Elisa and her husband bought a home, and now they’re saving extra income every month. She has a pension and her husband is an entrepreneur. How much should they be saving for retirement and how should they invest their extra money?

Geoff invested primarily in taxable brokerage accounts for the last twenty years. He’s built a $6 million portfolio and reached financial independence. He wonders about the smartest strategy for withdrawing from those taxable brokerage accounts to efficiently manage capital gains?

Jenna and her husband are planning on buying their next home in a few years. She wants to know if I-bonds are a good way to save for the down payment and closing costs.

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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#358: Ask Paula: Should I Invest in Index Funds More Actively?

Where is the balance between the risks and potential returns of actively and passively investing in index funds?

Where do you place your savings after you max out your retirement and HSA accounts?

How do you finance building a rental unit when there’s already a home on the lot?

Is it more beneficial to buy back pension time with post tax deductions or a 457b plan? Or should I not buy back pension time at all?

In today’s episode, former financial planner Joe Saul-Sehy and I discuss the purpose and practice of mindful money.

Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.

Enjoy!

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#356: Ask Paula: FIRE vs. FOMO — How Do You Balance Between These?

How do you find balance between smart money management vs. missing out on opportunities?

Should you pile money into investments or take that dream trip to Tanzania?

What should you do when your heart leads you to a decision that doesn’t make sense on paper?

In today’s episode, former financial planner Joe Saul-Sehy and I discuss the purpose and practice of mindful money.

Keep reading...

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