By Paula Pant
When Jordan Grumet realized he had achieved financial independence, he fell into a deep depression. He didn’t know who he was anymore, he says, and he didn’t know what should come next.
He learned about how to deal with us by observing his hospice patients. In this episode, Grumet, a hospice doctor, describes how working with the dying has taught him about life.
Enjoy!
By Paula Pant
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.
By Paula Pant
Anna and her husband have volatile income, but Anna thinks that having 18 months of living expenses is unnecessary. She’s torn between paying off her student loans ($30,000) or investing the money. Mentally, she always figured she would pay off her debt first, but wouldn’t investing pay off in the long run?
Charlotte and her husband are taking a phased approach to financial independence, where they need to bridge two gaps before they each turn 59 ½. How can they calculate how much they need at each phase?
Elle has a retirement plan in place, but her company is adding a Roth 403(b) option soon. Should she stay the course or adjust her strategy in these last five years before retiring?
Sara wants to purchase land and build her dream house by refinancing her rental property and turning her current home into a second rental. How can she improve this plan?
Joe Saul-Sehy, my friend and former financial planner, joins me to tackle these questions on today’s episode. Enjoy!
By Paula Pant
Julia and her husband, both 27, want to retire by their early to mid-40s. Is there a point at which they should stop contributing to tax advantaged accounts and only contribute to taxable accounts?
Ana and her family like their home, but it needs to be bigger. A cash-out refi didn’t give them enough funds for their dream renovation. Should they put their money into the market in the hopes that it will grow large enough to fund a future renovation? Or should they move into a bigger house, rent out their house, and fix it up years down the road?
Anonymous from MA is flummoxed by HSA-compatible health plans. His copay and deductible are awful, and even bronze plans seem better. Are HSA plans overrated, or does the math work out?
Aja’s mom is 75 and has to take required minimum distributions from her IRA. She doesn’t need the money. Where should she put it?
Nick has a seasonal business. Can a sweep account help stabilize him?
My friend and former financial planner, Joe Saul-Sehy, joins me to answer these questions on today’s show. Enjoy!
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.
By Paula Pant
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.
By Paula Pant
Hello from Austin, Texas! I’m living in an Airbnb here for the next 5 weeks. Listen to the end of today’s episode to find out why … and discover how these next 5 weeks, for me, exemplify the “why” of financial independence.
In the meantime, though, the show must go on! Here are the questions that we’re answering in today’s episode.
An anonymous listener named Seeking FIRE wants to know how she can talk about financial independence with people who ridicule the topic. What do you say to those who laugh at the very idea?
Russell owns a landscaping company and is also a part-time student. He’d like to earn more money on the side, but his schedule is overbooked. What can he do?
Nick and his family are moving to the Washington D.C. area for approximately two to six years. They own two rental properties free-and-clear, and would like to buy a personal residence when they move. How should he save for the downpayment?
Gerardo lives in Mexico and wants to retire on his investment portfolio, using the 4 percent withdrawal rule. How should he invest, given currency fluctuations and other international factors?
Anonymous left her job and wants to know if she should roll over her 401k from her old employer.
We tackle these five questions in today’s episode. We also answer a comment from a listener who says that individual stock-picking and active management doesn’t get the credit it deserves.
Written By Paula Pant
A few months ago, I got an invitation to speak at Google.
“Cool,” I thought. “That’s, like, grown-up stuff!”
The invitation came from one of my podcast listeners, David Moltz, who works at the company’s Los Angeles office and who hosted the hour-long Q&A.
“Could you talk about financial independence,” he asked me, “but maybe leave out the part about everyone quitting their job?”
“Haha! Sure thing,” I replied.
By Paula Pant
In today’s episode, I answer two questions about financial independence and the FIRE movement, followed by four questions about rental property investing.
Written By Paula Pant
The FIRE movement is misunderstood. The drama of the last two weeks proves it. The question is, how can we fix this?
Ohhh we have a new supporter!!
Last week, Suze Orman called FIRE “dumb and stupid.”
“When I was 30 I was dumb and stupid as well, okay?,” she said in an interview with Yahoo! Finance, adding that she’s “pissed off” at people pursuing early retirement.
But since then, she’s taken more time to learn about the movement — and she’s in support.
In a Facebook post titled “What I Hate — and Love — about FIRE,” Suze writes…
Written By Paula Pant
A few weeks ago, I received an email from Suze Orman’s publicist, asking if I’d be interested in interviewing Suze on my podcast.
“Duh,” I replied.
Suze is a legend in the world of personal finance. She’s appeared on Oprah multiple times, published 10 mega-bestselling books, and hosted The Suze Orman Show on CNBC from 2002 to 2015. She’s one of the most famous voices in this space.
I read her most recent book, Women & Money, and sketched out a framework for the interview. Then I threw it away, feeling dissatisfied with my questions, and I turned to the Afford Anything community on Facebook and Twitter.
“I’m interviewing Suze Orman,” I wrote. “What would you like me to ask her?”
