Afford Anything

Tag: life insurance

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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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#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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By Paula Pant

#301: Ask Paula – How Can I Reach FIRE in 11 Years?

Sarah wants to refinance her owner-occupied triplex, but she’s torn between a 15-year and a 30-year option. Which is better in her situation?

Amelia is worried that she and her husband are under-insured. Should her husband get a short-term disability policy, even though it’s expensive and they’re unlikely to need it?

Steven just discovered the financial independence (FI) movement in July 2020, and he wants to reach FI in 11 years. He has $30,000 in cash and $26,000 of student loan debt. How should he use his cash given his FI goal?

The South American Anthropologist wants to make a career change. His baby daughter has inspired him to become an example of living life on your own terms. Will his financial independence plan sustain him and his family for years to come?

Annalis and Mike are hunting for their first rental property, but they haven’t found anything nice that meets the one percent rule. Should they purchase a mansion and rent the rooms on Airbnb?

My friend and former financial planner Joe Saul-Sehy joins me to answer these five questions in today’s episode. Let’s dive in.

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By Paula Pant

#203: Ask Paula – Early Retirement and The Four Percent Rule

Many people in their 50’s or 60’s warn us about catastrophic or ‘black swan’ events. But what’s the likelihood that this will actually happen?

How can you use the 4 percent withdrawal rule for early retirement planning, given that your portfolio will be split among accounts with different tax treatments? How do you adjust your retirement plan for future taxes?

Should a couple in their 30’s switch from term life to whole life insurance?

Should a couple in their 50’s with adult children bother buying life insurance in the first place?

Is it okay to keep all your assets at one investment brokerage, like Vanguard or Fidelity?

And can you deduct rental losses if your income is over $150,000?

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

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By Paula Pant

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

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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Afford Anything