financial independence strategies

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    #195: Ask Paula – I Make $168,000 Per Year and Spend $5,000 Per Year. What’s Next?

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA195.mp3" title="Ask Paula - I Make $168,000 Per Year and Spend $5,000 Per Year. What’s Next?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Alex makes $168,000 per year, combined between her full-time job and her side hustle. Her company pays for breakfast, lunch and dinner during the work week, plus a cell phone subsidy, health, dental and vision insurance, a gym membership, and commuting costs. She also househacks, so her living expenses are only $400 per month. What should she do with her ample savings?

    Christine is 38 and earns $70,000 per year running her own business. She holds $70,000 in investment accounts, has another $16,000 in savings, bought a condo with 20 percent down, and has no debt. What can she do to fast-track her path to financial independence?

    Amy is unsure whether she should pay off her mortgage, downsize to a smaller home, or invest.

    Katherine is 23 and househacking into a duplex. How much should she set aside for cash reserves?

    Miriam started a podcast and wants to know how to morph a passion into a lucrative income stream.

    Nick wonders if the FIRE movement should plan an annual gathering … you know, like a FIRE Festival. (But not like the Fyre Festival.)

    I tackle these six questions in today’s episode.

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    #191: Ask Paula – Would You Live in an RV to Save Money?

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA191.mp3" title="Ask Paula - Would You Live in an RV to Save Money?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Should Russell rent a cheap apartment, or should he take out a loan for an RV in order to save money on rent?

    Carl is working two jobs that each pay $12 per hour. He has $5,000 in student loans. What can he do to improve his situation?

    Caroline is about to finish paying off her student loans, and in the next few years she wants to buy a home. Where should she park her savings in the meantime?

    Philip is saving for financial independence, but he’s not sure what to do with his time once he quits his job. How can he discover what ignites him?

    Amanda is receiving an inheritance, a New York City 4-plex valued at $500,000. How should she handle this?

    And an anonymous caller wants to know what the step-by-step path to wealth building would look like.

    I answered all of his questions in today’s episode, plus I feature a short follow-up interview with Kim, the firefighter whom we met in Episode 139.

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    #187: The Final Ask Paula: Real Estate Episode!

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA187.mp3" title="The Final Ask Paula: Real Estate Episode!" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Sarah needs $36,000 per year in living expenses in order to reach FIRE (Financial Independence, Retire Early). She owns several rental properties, and she’s aggressively paying off the mortgages through the debt snowball method. How will she know when she’s ready to live on $3,000 per month in consistent rental income?

    AyV wants to rent out his primary residence. What steps should he take to prepare the property for rent? Should he hire a contractor? What level of renovation should he give it?

    And more!

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    #183: Ask Paula – Should I Sell My Rental Property to Pay Off My Student Loans?

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA183.mp3" title="Ask Paula: Should I Sell My Rental Property to Pay Off My Student Loans?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Should a newlywed couple with two cash flowing rental properties sell one to pay off $92,000 of student loan debt?

    What percentage of your portfolio should you have in rental properties?

    What’s the smartest way to approach rental property investing, particularly if you get anxiety thinking about tenant requests?

    How much should high interest rates impact your decision to buy a rental?

    I answer these four questions on today’s episode, plus, I have a big announcement regarding the future of real estate Ask Paula episodes, so check it out. 🙂

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    #167: Ask Paula – Should I Pay Off Student Loans While in School?

    ByPaula Pant
    [smart_track_player url="https://traffic.cast.plus/57b04b389655d0cb71d77f6c/traffic.libsyn.com/paulaandjaymoney/AA167.mp3" title="Ask Paula - Should I Pay Off Student Loans While in School?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Angelisa is a college senior with $30,000 in student loans. She has a part-time job, from which she’s saved $2,500. Should she keep saving money, or should she get a headstart on paying down her student loans while she’s in school?

    Mackenzie is also a college senior with some student loans. She recently received a settlement from a car accident. Should she invest this money? If so, how?

    Franchesca is 35 and is carrying $212,000 in debt, mostly student loans. Could she reach financial independence, even with a late start?

    Erica wants to make environmentally-friendly investments. How should she approach this?

    Caroline is 42 and has started making after-tax (non-Roth) 401k contributions. Is this a good idea?

    An anonymous listener is curious about podcasting. How did I get started?

    I answer these six questions on today’s podcast episode, alongside former financial planner Joe Saul-Sehy. Enjoy!

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    #165: Ask Paula – Should I Invest in Index Funds or Rental Properties?

    ByPaula Pant
    [smart_track_player url="https://traffic.cast.plus/57b04b389655d0cb71d77f6c/traffic.libsyn.com/paulaandjaymoney/AA165.mp3" title="Ask Paula - Should I Invest in Index Funds or Rental Properties?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Should Kim, an entrepreneur, invest in index funds or rental properties?

    Should Nick, an MBA student, househack into a more-expensive home with stronger cash flow, or a cheaper home with more budgetary wiggle room?

    Should Kelly, who is getting married soon, sell her current home and use the proceeds to buy multiple rentals? Or should she use her current home as a rental property?

    Should Trayci and her sister invest in rental properties or bare land?

    I answer these four questions in today’s episode.

    We’re a weekly show, but on the first Friday of the month, we air a bonus episode. This is our December 2018 First Friday Bonus Episode.

    Enjoy!

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    #163: Ask Paula – The Future of Index Fund Investing

    ByPaula Pant
    [smart_track_player url="https://traffic.cast.plus/57b04b389655d0cb71d77f6c/traffic.libsyn.com/paulaandjaymoney/AA163.mp3" title="Ask Paula - The Future of Index Fund Investing" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Does my employer match count against my 401k contribution limits? Should I invest in a Traditional or Roth TSP? Should I invest more aggressively in stocks right now, or should I hold cash and bonds until the next downturn? Should I get a mortgage or keep renting until I can buy a home in cash? Do you think index investing will dramatically change in the coming decades?

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

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    #159: Ask Paula – I Have Three Kids and I’m Hoping for Financial Independence

    ByPaula Pant
    [smart_track_player url="https://traffic.cast.plus/57b04b389655d0cb71d77f6c/traffic.libsyn.com/paulaandjaymoney/AA159_BONUS_Ask_Paula_and_Joe.mp3" title="Ask Paula - I Have Three Kids and I'm Hoping for Financial Independence" artist="Paula Pant and Joe Saul-Sehy" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Should a 36-year-old father of three invest primarily in Traditional or Roth retirement accounts? Should Rose, a grandmother of four, open a Vanguard account for each of her grandchildren?

    Should Nancy, who lives overseas and is the sole breadwinner in her family, invest in a Traditional or Roth TSP?

    Should Scott’s wife rollover her 403(b) from her former employer into an IRA?

    Should Patrick, age 35, cancel his life insurance plan?

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

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    #151: Ask Paula – “I Feel Like I Don’t Deserve My Success. What Should I Do?”

    ByPaula Pant

    We’re back with another “Ask Paula” episode of the show! As usual, my friend and former financial advisor, Joe Saul-Sehy joins me in answering your questions! Let’s dive right in. Hailey: I just graduated from college with a major in Computer Science and minor in Graphic Design. The whole time – it was rough. I…